How can PR benefit a business in a challenging market place?
It’s a tricky question – do you shout about your company and its successes in a time of economic downturn? Or is it best to sit tight, say nothing and ride it out?
Every organisation, no matter how large or small, ultimately depends on its reputation to survive and thrive. In today’s competitive and challenging market, a company’s reputation can be its biggest asset as well as give it a competitive edge. Customers, suppliers, employees, stakeholders, journalists and bloggers all have an opinion about the businesses that they come into contact with – and therefore can have a powerful impact.
Telling the world about exciting contract wins, investment in new premises and the appointment of new staff can encourage clients, competitors and potential employees to find out more about a company. However, if at the same time a number of redundancies are on the cards, projects are being put on hold and budgets are being cut, the issue of perception arises.
We recommend continuing as you were whilst being sensitive to internal and external issues. To engage in conversations with your markets and stakeholders is to continue building momentum to ensure your company doesn’t fall by the wayside. We are passionate about the services and products we provide, and that doesn’t change during difficult times.
Effective PR can help enhance reputation by communicating and building good, strong relationships with those who come into contact with a business through planned and sustained activity – and influence their decisions about working with and supporting one business over another.
PR is a highly credible form of promotion – it can help to establish credibility for a product, company or key person (e.g. CEO or MD) in the minds of targeted groups by capitalising on the influence of an independent third party – the media. It can also give scope for providing detailed information when compared with other forms of promotion. One strong story may be picked up by a large number of additional media, both on and off line, and therefore the reach and impact is multiplied.
Creating engaging, relevant content to put out in the mainstream and trade press demonstrates that your business is adapting to a changing market, while ensuring your clients know they will receive the best service, even when the going gets tough.
No shouting and no silences – just good, engaging and consistent content to open conversations with your audiences, making sure that when they have a need for a service or product, your organisation is the first one they think of.