We’re in the midst of a global recession and everywhere you look businesses are cutting back on spending. No one’s hiring and no one’s buying while the world waits to see how deep the economic crisis will go before it turns.
Sadly, some business managers have reacted by pulling the plug on the marketing budget, deciding to put any PR activity on hold for the foreseeable future. While this may appear to make financial sense now, it is in fact a self-defeating strategy. An economic downturn is exactly when companies need to be communicating clearly with their audiences, and the most viable way in which to do this is by harnessing the immense power of the media. Here’s why:
1. During shaky economic times, clients, investors, staff and the public are nervous and need reassurance. PR is the best way to convey believable messages of confidence.
2. The media is currently very receptive to positive news and any business seen by journalists to take a confident stance will likely be rewarded with good coverage.
3. PR is possibly the most cost-effective tool in the marketing mix – and the results can be staggering.
4. Messages conveyed within editorial content are more credible than advertisements. As recessions breed scepticism, credibility is key.
5. Companies are in a strong position to negotiate better rates with PR agencies – so now is a good time to be starting relationships with good agencies that can be built on in future.
6. Now, more than ever, companies need to be prepared for crises and make sure they are ready to respond.
7. By its very nature, PR is both proactive and reactive. Organisations that use PR are therefore able to communicate on different levels with their clients, through various media channels.
8. PR is interactive – it invites responses from target audiences and enables organisations to develop dialogues that help to build long-term relationships.
9. Using PR is an excellent way to demonstrate commitment to key messages, no matter what the context.
10. Now is the time to be the company that sets itself apart and is unshaken by the recession.
About TopLine Communications
TopLine Communications is a London public relations agency with international reach. The company works with clients in the education, finance and technology sectors, with the aim of creating opinion leaders. As a new agency, TopLine is able to provide companies of all sizes with a value–for-money service that generates excellent results.
By Heather Baker
Director of PR
TopLine Communications
TopLineComms.com