Some call it addicting. Others call it a business necessity. In my experience, once companies experience a well executed public relations campaign, they’re forever hooked. PR changes their playing field: prospects are more plentiful and deals close more quickly.
But why?
1. PR Provides Social Proof
PR increases a company’s visibility, which provides social proof, a powerful type of validation. It creates a “herd effect,” the phenomenon that compels people to work with companies they perceive as well known and accepted, rather than to deviate from the norm.
2. PR Creates Likeability
PR goes beyond social proof. It actually makes individuals like a company more. When your company is showcased in an article or discussed favorably by your peers, or when your company’s product wins an award, it instantly becomes more likeable to prospective clients, vendors and employees.
3. PR Generates New Business
Studies have shown that it requires numerous contacts to effectively attract the attention of a prospect. Each time your photo appears on the cover of a magazine, your company is profiled in a feature story, your CEO speaks at a conference, or your executives are quoted in the media, you are expanding your base of prospects and creating the repeated exposures you need to convert prospects into customers. PR tilts the playing field in your favor, creating a huge competitive advantage.
4. PR Creates Favorable Reputations
Reputation can make or break a company. If a company is continually receiving positive press coverage, prospects perceive it must be doing well. On the other hand, when a company goes quiet or negative news is published, rumors about its future can emerge and prove very detrimental, if not fatal.
5. PR is Cost-Effective
When compared to countless other marketing methods, PR continually emerges as a highly cost-effective way to grow a business. Great PR can build a company’s prospect base and make it easier to convert leads.
But not all PR is created equal. Poorly executed PR can damage more than it improves. So don’t be shy about getting help from experts. Find out for yourself why great PR can feel addicting for those driven to success.
For more information, reach out to us at Inquiries@StrategicVantage.com.
By Rosalie Berg, President, Strategic Vantage