4 Reasons Why You Should Consider Investing In Public Relations
Many businesses choose not to invest heavily into public relations activities, mostly due to lack of understanding of the numerous benefits. Whilst it can be a costly investment, public relations is important for overall business success. It contributes greatly to public image of the organisation, overall brand awareness and the reputation of the brand. If you’d like to learn why investing in public relations is important for your business, read the below four points:
1. It differs from marketing
Whilst marketing and public relations are undoubtedly intertwined, leaders first need to understand the difference between the two. The easiest way to differentiate the two is by the type of coverage in which each method generates. Marketing will assist in generating advertisements, and those types of media placements which the customer knows the organisation has paid for. Public relations on the other hand will be coverage from the journalists’ own mouths or writing – making it an independent endorsement.
2. It builds trust in your brand
As explained above, public relations media coverage will result in journalists discussing your brand in articles, news reports or radio bulletins as an independent endorsement. As this is something you cannot pay for, it immediately builds trust between your brand and the public. When the public read a positive mention of your product or services, it is essentially word of mouth business on a large scale. This proves exactly why investing in public relations is worth it, as it builds a trust pathway that marketing cannot.
3. It builds large scale awareness
If your public relations manager is able to generate coverage in the major media outlets, millions of people will instantly be informed about your brand and product. When done well, public relations can generate large traffic to your website, and contribute greatly to sales. When you are a relatively new or unknown brand, investing in public relations will ensure that your key target market learns about your services, and can help to keep you as a top of mind choice when purchasing.
4. It is cost effective
The cost of advertising versus the cost of employing someone to write and distribute a media release will be significantly lower if you are pitching to large publications and media outlets. Whilst it is difficult to say which of the two has a higher financial return, as explained above, investing in public relations also builds trust and reputation. You can’t put a price on these intangible features; therefore it is argued by many that for the price you pay, public relations initiatives are more cost effective than blatant advertising.
What do you think?
Whilst this article argues that you should consider investing in public relations, this does not mean that marketing and advertising activities are discouraged. In fact, it is quite the opposite – a blend of marketing and public relations is a fantastic basis for a successful awareness campaign. I am curious though – what does your company use to get their name out there? Share your views below and join the conversation.
This article was written by Laura Hutton on behalf of the Australian Institute of Business. All opinions are that of the writer and do not necessarily reflect the opinion of AIB.