Should your company Invest in PR?... The short answer is yes, definitely
Why invest in PR?
PR is a critical part of the equation when building brand awareness.
Let’s dig a bit closer.
Trust builds Legitimacy which enhances Validity which leverages Credibility
Public Relations helps build trust. PR falls into what is referred to as ‘earned media’. This means publicity in the form of an interview, a brand mention or a quote, a guest post, a byline, or any attention that your organization receives as a result of a Press Release, a Social Media Post, a speaking engagement, or an Awards nomination. When others, especially third-party, neutral sites mention your brand or your leadership, it is a lot more powerful than when you do it yourself.
Thought Leadership is Impactful
Thought leadership is powerful. Building your company’s image requires some effort on your part. But don’t fret PR can keep your audience up to date with what your company is doing or comment on what others in your industry are saying. The first step to getting noticed is to speak up. And when you know what you are talking about, your audience will start viewing you as a knowledgeable (re)source.
Be Patient and Remember that the PR Engine is On
Public Relations work is a marathon. Not a sprint. In order to get the results you are looking for, you need to a) be patient and b) spend wisely.
Getting a return on your PR investment
Knowing how to spend wisely can be tricky, and, some variables differ. But here is a quick tip list on how to get the most “bang for your PR buck” (that beautiful acronym (“ROI”).
#1 Start by setting a budget. The average marketing and PR budgets range from 5-12% of your company’s revenue. Then decide what your PR and communication goals are.
Some examples can be: Increased leads – because brand awareness or visibility in your industry is a great way to attract new customers, and new partners, build your thought leadership profile and gain some traction. Are there some people on your team that you can profile - like, your Chief Product Officer or your head of Engineering? Your CEO?
PR can help with improved domain ranking - which means, climbing up the Google results list.
Pro Tip: Knowing WHAT and HOW MUCH is the starting point for most successful investments. Your PR work is no exception.
#2 Successful PR requires patience and perseverance. What you do today will set you up for the success of tomorrow. It takes some time from the moment people start noticing you
Manage your expectations. Good PR work takes time.
#3 There are a few fundamental things that you need in order for your PR to work. This includes:
-Having a dedicated channel for Press/ Media on your Website (if you already have earned or paid media wins, then add links to your media coverage)
-Send out Press Releases to announce service/product launches or partnerships; and new hires (Your PR partner will need to counsel you on how to write a proper PR, set a cadence for your Press Releases, and what to include in the copy)
-Have a dedicated person who writes the Press Releases and conducts media outreach
-Developing an updated list of journalists (your PR partner should be able to counsel you here as well)
-Track and monitor your results
When done manually or through an external agency, these are all time-consuming areas, but there are some smart options to do it within your own team.
#4 Knowledge is Power
You need fresh and updated information to keep track of your performance and your competitors. This shows you what is working and what isn’t, but it also helps you fine tune your efforts to where they are needed the most.
Having direct access to this information will be a game-changer.
#5 Online Pressroom
Not knowing where you should publish news and PR-related content can be challenging. But by setting up an online pressroom, you automatically have a place to publish all your content in one place. Plus, journalists and relevant target groups (investors, community members, etc) can easily access your content and know where to look for updates. Make sure to choose a reputable provider for your online newsroom so that you can also benefit from that provider’s SEO. Your PR partner will be able to lead that or support you in setting this up.
Why is that important? Because it means higher Google rankings for your website.
#6 Once you have your PR platform (pick one with access to a journalist database, like Cision, for example) and your newsroom set up, the last question will be how frequently to publish or send something out. That depends but there will always be something going on within your company or industry worth mentioning. And it doesn’t have to be big news to be of interest to your audience. Timing around Press Releases requires more thought and strategy, and this is also something that your PR partner or PR team member can support you with.
Keep the conversation going- one-hit wonders won’t take you far.
#7 Getting noticed is one part of PR. Building and maintaining relationships with journalists and other important stakeholders is another. When you know who is interacting with your content, it becomes easier to create more engaging content for your audience's needs and interests. Just remember that journalists and stakeholders are interested in the Who, What, When, and Why. So being clear, succinct, relaying important information, and solving problems go a long way…
By tracking your audience’s interests, you can stay more relevant, which helps you build stronger relationships.
Reach out if you have any questions or wish to comment. We’re always happy to talk media!
