inferno

Ongoing economic woes are forcing companies to reevaluate and ultimately, reduce spending. Unfortunately, marketing and communication budgets are often the first to be scrutinized and cut, which can lead to missed opportunities and a reduced share of the market. In today’s economy, this can be devastating to your business, as differentiating your product, service or skill from competitors becomes especially important.

 

While traditional marketing and advertising can use up a significant portion of an already limited budget, a public relations component within a communications plan can be an efficient use of resources. When advertising, companies often choose placements based on how much it will cost and the audience it will reach, but a smaller budget will greatly limit advertising options. Incorporating public relations into your marketing plan allows you to include a wider variety of publications and media outlets, without the worry of purchasing expensive space. 

 

Some current and cost-effective opportunities include:

 

Media Relations

With newsroom staffs shrinking, more and more reporters are laden with extra work and look to strong PR professionals for help with story ideas and sources.  This is the perfect opportunity to help a reporter while boosting awareness of your business. 

 

Take time to identify the reporters that cover business or your specific industry.  Read their articles or columns, listen to interviews or watch news segments, taking note to compliment them on a well-placed story or simply thank them for covering an issue that interests you.  Once you’ve established a rapport with the reporter, invite him/her to discuss your business or offer to drop off background information and an outline of your areas of expertise.  This will help the reporter determine whether you’d be a good source – or if you can provide a customer or client who would be – for an upcoming story or segment.

 

Once the reporter is familiar with you and your company, you can begin to send editorial content for consideration. Ensure that your stories are both relevant and newsworthy to the reporter, taking note of industry trends that may tie-in well with your pitch.  Take note of national stories relating to your industry.  You can localize these stories by including your own experiences within your media pitch.

 

Media Monitoring

Knowing what is going on around you is key, whether it’s news about your business, competitors or industry.  Reading newspapers and watching the local news are both great ways to stay informed and can provide you with additional story ideas. 

 

Make sure to track your coverage in comparison to your competitors, identifying the stories that you could have been included in as a source, but weren’t.  If the reporter that wrote the article is not included in your current media list, reach out to him/her and introduce yourself and your company.

 

Social Media

Social media sites like Facebook, LinkedIn, Twitter and YouTube have developed a strong following, and are now considered a must-have item on many communication plans.  These sites provide a cost-effective way to reach current clients or customers, while allowing you to communicate and expand your audience to include people from all over the country, in every demographic.  While online advertising is available for many of these sites, memberships or profiles are typically free.

 

There are many ways to use these outlets to your advantage, whether it’s blogging about industry tips and tricks or posting YouTube videos on how-to topics.  The key is to identify which outlets will allow your company to communicate with its key audience.  Researching what others in your industry are doing is a great place to start, as you can learn from a competitor’s successes and failures.

 

Community Relations

While businesses are feeling the economic pinch, non-profit organizations are also struggling.  Now is the perfect time to reach out to local groups in need of help, whether you donate your time or services.  This can be a mutually beneficial relationship: as you help the non-profit and its employees, the board members and donor base become more familiar with your business. 

 

Encourage additional members of your team to participate, which will further your company’s impact.  Whether it’s hosting an internal food drive for your local food bank or covering phones for a radio-thon, identify the best fit for your business and its employees. 

 

Customer Relations

Who better to communicate with than the people who already know you?  In a down economy, it can be difficult to increase your prospects, making it very important to maintain your current clientele.  If you haven’t already, start a customer database that contains a client’s contact information, noting the way they prefer to be reached (phone, mail, or email), and any pertinent details you need for your business. 

 

Most people have access to email, making it an easy and budget-conscious way to communicate with your audience.  Whether you use an email program to alert them to sales or promotions, staffing changes, or general information, this is an effective tool that can be measured.

 

While public relations can be an effective tool in any communications plan, the key is to know your audience: the reporter to whom you’re pitching a story idea, the customers on your e-newsletter list, or the ideal non-profit partner.  

 

Though you may not notice immediate gains in your bottom line, employing a strong PR strategy can help maintain your current customer base and build market share.  Your initial investment now will be significantly less than if you wait to capitalize on opportunities later. 

 

Contact our PR team to learn more at .(JavaScript must be enabled to view this email address).