More than a luxury item: 3 ways public relations improves small business
Small business owners often tell me they view PR as a luxury item. But there is a reason why mega corporations spend millions of dollars on PR campaigns. There’s also a reason why public relations is anticipated to be a $129-billion dollar industry by 2025. Check out these 3 ways public relations improves small business.
1 – Public Relations solidifies a customer’s interest in your brand
Don’t think of it as a luxury spend. Instead, think of it as an arm of your marketing efforts that solidifies a customer’s interest in your brand. You know the old marketing saying, that a customer needs to see a message 7-times before they decide to buy? That may still be generally good advice, but the modern consumer shops differently and knows when they’re being sold to. It pays off to make sure those touch points are more than advertisements generated by your own brand. That’s where public relations and earned media come in. Editorial reviews and positive brand mentions from trusted sources reinforce a customer’s instinct that your product is worthy of their commitment.
2 – Public Relations gives your customers a clear understanding of what your company is all about
Once upon a time, the product with the lowest price and the most brand recognition won the customer. That’s not always true nowadays. From household items to tech purchases; from grocery store favorites to baby brands, modern consumers are much more aware of the people and purpose behind the products they buy and the services they hire. Numerous studies show that millennial and GenZ buyers (who combined now makeup almost half of all consumers now, btw) are more interested in purchasing from companies that support missions aligned with their own beliefs. Public relations educates the media on those beliefs. Through them, it also educates consumers on the efforts, mission, and impact a brand has on the world around them.
3 – Public Relations raises good ‘ol fashioned brand awareness
Speaking of the modern consumer, recent research has shown that millennials, in particular, aren’t necessarily loyal to a specific brand. They are more likely to try something new. This is good news for small businesses and new consumer brands because it means they automatically have a captive audience. According to a Harris Poll conducted a few years back, 69% of millennials experience the fear of missing out (commonly known as FOMO). Public Relations is a great way to show social proof that people are interested in and enjoy your brand and products. Between digital advertising, affiliate marketing, influencer marketing, and public relations, brands today can create a sense of FOMO amongst millennial buyers. The Hollywood treatment of the public relations industry is really misleading. PR doesn’t have to be about expensive show productions, over-the-top gimmicks, lavish parties, and schmoozing over overpriced cocktails. It can actually be quite effective at diving into the core of a company and pulling out interesting nuggets of information to then share with the world. Ultimately, being a major part of the deciding factor in a customer’s path to purchase. Just take a look at what we’ve done for some of our clients.
These are just 3 ways that public relations improves small business. Stay tuned for more specific examples for different industries and types of companies.