Less than one percent of small and medium size businesses have a public relations strategy. The challenge is that many businesses simply do not understand what public relations actually is and what it will do for them in terms of business growth and branding. Many business owners and executives equate public relations component with paid advertising. They do not recognize the difference and value of ongoing media coverage which puts them out as thought leaders in their industry that customers will seek out and which is the best way to enhance a business’ brand.
Small and medium size businesses looking to grow and position themselves as leaders should look to public relations and its value in supporting growth. A modest budget combined with an ongoing program will reap consistent rewards. To educate prospects who are not familiar with public relations, I compare public relations activities to mortgage payments. When you carry a mortgage, you make a monthly payment until you own the home. Public relations activities should build awareness and attract attention over time. These efforts ultimately enhance a business’s reputation and standing in its market.
One of the biggest things businesses seek to determine is ROI for publicity efforts. Media placements, which include articles, story links and video news coverage, need to be utilized and pushed via social media, sent directly to prospects and integrated into sales packages to reinforce branding and enhance business development. Simply gaining media coverage without reusing it is where many businesses fail.
Many small business owners succumb to “shiny object syndrome.” They hear about new marketing tools, strategies and services, and want them even though they have no idea how these services actually work or if they will work. They gravitate to this while public relations and its tremendous value is not prioritized.
Businesses often fail to see how publicity helps generate interest, support salespeople, enhances SEO, creates high quality social media content and positions experts as leaders.
Finally, businesses need to know that publicity is an insurance policy for protecting their brand and reputation. A crisis situation can happen to any business at and given time. If a business crisis hits the media or online, failure to have the ability to respond or properly react could mean the demise of a business. Having a public relations and crisis communications strategy in place when a crisis hits protects brands, businesses, products and people.
As we head into the fall and many businesses think about their marketing pushes, they should also include public relations in their planning.