Many businesses decide not to invest in public relations due to a lack of understanding of what it can offer and the benefits it can provide. Although it can be a costly investment, a consistent, well-planned and thoughtfully executed public relationsplan is crucial for overall business success.
When things are going well, business leaders may consider public relations an unnecessary addition to their company. When the future looks financially cloudy, shortsighted organizations often make hasty decisions to slash expenses and cut public relations from the necessities. However, tech and media-savvy companies usually understand the importance of consistent media relationsdue to their close-knit connection to media. They understand that building relationships with their audiences and reporters strengthen their standing within the community.
Furthermore, ongoing media campaigns deliver multiple returns on every dollar spent via exposure and access to larger audiences. Public relations firms can help you maximize costs and save money.
Here are some additional reasons why PR is a great investment.
1. Builds More Trust Within Your Brand
PR-related media coverage results in journalists highlighting and discussing your brand in news reports, articles and/or radio bulletins as a credible and independent endorsement. Due to this media being earned, not paid for, it immediately helps build trust between the public and your brand. Unlike conventional advertising, which is usually a one-way dialog between the brand and its customers, public relations initiatives are built around developing and nurturing two-way relationships. PR agencies can develop communications strategiesand relevant campaigns that resonate with your target audience.
2. Recruits Great Talent
Often times PR campaignsdo not just attract new clients, but also prospective employees. It is worth noting that public relations strategiesthat establish your business or brand as a thought-leader would inevitably enhance your profile among the best talent in your field. With PR, you have the ability to create a reputation as one of the most sought-after employers in your industry – and then you can leverage your newfound success to the finest and most qualified talent to accelerate your growth.
3. Enhances Your Company’s SEO
We all know that online earned media could have a significant impact on SEO as well as keyword rankings. Public relations agencies work to optimize and streamline content they are sharing. This will considerably contribute to your organization’s SEO efforts.
4. Attracts Investors
The right media placements at the right time can be used to capture the attention of investors, like venture capitalists. With suitable messaging and strategies, PR initiatives increase credibility as a potentially lucrative and stable investment target. An effective PR strategycan also position your organization’s CEO and other key executives as specialists in their field while building more credibility for your organization’s products and services. This keeps your company in the minds and portfolios of many investors.