Public Relations Pendulum Continues to Swing
Public Relations Pendulum Continues to Swing
What is lost on many is the realization that practices that maximize profitability during good economic times are the same practices that help maximize profits or minimize losses during downturns.
A strategic public relations campaign has the ability to strengthen a company’s position and competitive edge during a weak economy and support sales initiatives during a strong economy.
Public relations is often an afterthought to strategic planning, and can be out of sync with organizational business objectives. Public relations works best (in any economy) when tightly integrated with marketing, and should have the support, commitment, and involvement of the highest levels within the organization. PR should also be tied to sales and tangible business objectives.
Today, the PR industry overall is under more scrutiny than ever before. The days of companies built on hype and rumor are long gone – as are robust retainers for lackluster returns. In any economy, smart companies scrutinize their budgets. Regardless of the price paid, executives seek quality and return on investment. This puts the PR industry under pressure to show value for every hour and every dollar spent.
Tactical public relations should be quick, flexible, and relatively inexpensive. Environments, competitive and economic, can change rapidly and PR initiatives must be flexible enough to change with the surroundings. Long-term programs planned a year in advance with exorbitant budgets are things of the past. Pretending to know what will happen over the next 12 to 14 months is an unaffordable chimera. By switching gears and returning to basics, PR can be part reconnaissance and part sales support.
In an economic downturn, people still conduct business; there’s just less of it. And the businesses that survive will be the ones with the shrewdest PR strategies, the most creative approaches to customers, the highest perceived value, the greatest services during and after the sale, and the fiercest sales force.
Public Relations Pendulum Continues to Swing - To learn more about this author, visit Patti D. Hill's Website.
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During the boom years, high-level public relations representation was highly sought after by companies of all sizes. When the economic downturn hit and executives toiled with last-straw strategies and tactics for identifying hidden profit opportunities, public relations professionals saw their share of pink slips. As the economy rebounds, PR will once again be in favor.
What is lost on many is the realization that practices that maximize profitability during good economic times are the same practices that help maximize profits or minimize losses during downturns.
A strategic public relations campaign has the ability to strengthen a company’s position and competitive edge during a weak economy and support sales initiatives during a strong economy.
Public relations is often an afterthought to strategic planning, and can be out of sync with organizational business objectives. Public relations works best (in any economy) when tightly integrated with marketing, and should have the support, commitment, and involvement of the highest levels within the organization. PR should also be tied to sales and tangible business objectives.
Today, the PR industry overall is under more scrutiny than ever before. The days of companies built on hype and rumor are long gone – as are robust retainers for lackluster returns. In any economy, smart companies scrutinize their budgets. Regardless of the price paid, executives seek quality and return on investment. This puts the PR industry under pressure to show value for every hour and every dollar spent.
Tactical public relations should be quick, flexible, and relatively inexpensive. Environments, competitive and economic, can change rapidly and PR initiatives must be flexible enough to change with the surroundings. Long-term programs planned a year in advance with exorbitant budgets are things of the past. Pretending to know what will happen over the next 12 to 14 months is an unaffordable chimera. By switching gears and returning to basics, PR can be part reconnaissance and part sales support.
In an economic downturn, people still conduct business; there’s just less of it. And the businesses that survive will be the ones with the shrewdest PR strategies, the most creative approaches to customers, the highest perceived value, the greatest services during and after the sale, and the fiercest sales force.
Public Relations Pendulum Continues to Swing - To learn more about this author, visit Patti D. Hill's Website.
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