The Benefits Of Public Relations
If you have not considered a PR plan as part of your business strategy we have included a few key benefits for your consideration.
Make a commitment that this year will be a growth year. Pick one or two important goals and execute. Spend at least one hour per week working ON your business not IN your business. You will not believe the difference it makes!
The Benefits Of A Good PR Program
A well run Public Relations program has multiple benefits and can have a far greater impact than other marketing methods because it carries a message of implied endorsement by the media. When stakeholders read, see, or hear the editorial or news coverage it creates a credibility factor unmatched by any other promotional strategy.
Here are few benefits to consider:
When you gain visibility – you gain credibility – This credibility creates a good will for your brand. This brand value is reflected in a higher valuation in private markets and in the public circles with shareholders for both private and institutional investors.
Access To Capital
As institutions are always searching for investment opportunities, when you “rise above the noise” you will get more interest in your business.
Many organizations go through peaks and valleys in their business over time and when the publicity machine is working well, you gain the attention of past, current and future shareholders.
Attract New Customers
Wouldn’t it be great to have clients knocking on your door for a change? The visibility you gain to this target audience has a direct correlation to revenue – if more doors are opened by your PR program – more business will be gained.
As you grow your channel – credibility is paramount. If a potential channel partner has heard of you in a positive light – they are more likely to give you an audience to see if mutually rewarding opportunities exist. Finding good channel partners can be as competitive as finding new clients. The channel wants to align with a good brand in order to make their selling job easier.
Getting the attention of your competition can create excellent opportunities for partnerships and can identify potential acquisition targets either as buyers or sellers. In addition, the credibility you gain through your industry visibility will eventually lead to Industry analyst coverage which again creates more integrity for your firm.
The battle for talent will be the next great challenge for business. Never underestimate the power of good PR when attracting a new workforce and retaining existing staff. Employees want to feel proud of where they work and the more they see positive publicity, the more it justifies their decision that they are with a great company.
Good PR Begets Good PR
The media are essentially competing for stories and the more visible you are the more media you will attract.