Business owners often debate whether they should spend money on advertising, or spend money on public relations. While some larger corporations don’t need to choose between the two, most companies do. If you’re in this position, put your money into a great public relations team. Why? Because public relations can effectively develop and promote your company’s brand with a limited budget.
Your PR team’s focus is to bolster your company’s reputation. They have a long-term vision for how to market your company that will not only make you more money, but make you a thought leader in your industry. Here is why PR grows your business.
Advertisements Sell, Media Endorsements Build Credibility
A full page magazine ad can cost thousands of dollars. When a reader flips through that magazine, they might see your ad. If they do, they know you are selling them something. Maybe that translates to direct sales; maybe it doesn’t.
Public relations departments do not buy ads. They generate buzz around a product you’re selling. They allow industry professionals and media personnel to try your product. They invite influencers to meet members of your design team. They encourage people who try your products to give them feedback. As the media learns and loves what your company makes, they write about it. Their posts carry more weight than an ad because they come from a reputable third-party.
PR Campaigns Are Cheaper Than Ad Buys
While it might cost a pretty penny to hire a PR team with public relations master’s degrees, over time, it will cost you less than buying ads. Advertisement rates tend to go one way: up. The bigger and more successful your company gets, the more expensive it will be to advertise. Think about Super Bowl commercials, which literally cost millions for ad space and millions more for production. Your PR team will design and implement a campaign to promote your business, so you can save on ad buys.
It Focuses on Long-Term Visibility, Not Short Bursts of Business
Fair warning: The fruits of public relations’ labor might take a while to grow. Typically an effective public relations strategy works over the course of six months to a year. Sometimes it’s longer than a year. So don’t be surprised if two months into your PR campaign that sales are only marginally better. Your public relations team is thinking about how they can sustain your company for the long-term, not the short-term.
Your PR Department Creates a Huge Network
Public relations specialists are typically very outgoing, sometimes even assertive. Their social engagement abilities should not be under-estimated. They work daily to network with media professional, industry leaders, and other experts. They build a massive network on your company’s behalf so that you can tap into that network whenever you need a question answered.
Public relations departments should not be overlooked. They are the key to growing your business and promoting your brand.