Switch on the TV news, open the paper and its all doom and gloom. The bad economic forecast is a great news story for the media. However it breeds fear, worry and stress. In business this can mean that owners react to the fear with knee jerk reactions such as cutting out advertising, marketing and public relations. It seems like an obvious choice –cut the “fat”. But is it really?
In a recession or a great economy, PR has the same function. It helps establish and maintain mutual lines of communication, understanding, acceptance and sales between an organisation and its target audience (ie customers).
PR programs link with business objectives and are based on a long-term view of a business’s relationship with their target audiences. They build positive public image and reputation.
Isn’t this even more important in a recession? Here are five top tips to use public relations to get through the doom & gloom:
1) Openly and regularly communicate with investors and customers to maintain trust and letting them now how the company is going.
2) Tell success stories. Write case studies on how you have helped your customers/clients solve a problem that has saved them money or assisted them through a difficult situation. Pitch the case studies to relevant targeted media.
3) Get online. Use online public relations to increase your online visibility and develop relationships with your customers. Start writing a business blog, participate in forums and message boards. If you don’t have an e-newsletter, then start one and make sure it is regularly sent to your stakeholders and customers.
4) Zig when your competitors Zag. During times of economic downturn, companies tend to follow the herd’s direction rather then looking at what strategies would best work for them. If they are cutting back, do the opposite. By cutting back on marketing and PR, you leave the door wide open providing opportunity for your competitors.
5) Engage a great PR agency that understands your business and work with them on stories and angles and articles and speaking topics – anything that shows your expertise and puts you in front of key audiences. PR can achieve amazing results even when the budget is quite small.
Making a knee jerk reaction now may cost you your business. People won’t buy from companies if they can no longer see or hear from them. So the message is simple, maintain your presence in the marketplace and then you have more of a chance that your company will still be in the standing when the storm is over.
Sydney Public Relations Agency, CP Communications provides specialist media, traditional and online PR strategies that get amazing results. Contact us today. For more great tips visit our website www.cpcommunications.com.au.