Using PR to lower advertising costs and get more publicity
Most businesses view marketing and advertising as the most effective ways of increasing sales and profit. Whilst these are useful for attracting customers, they are generally expensive, and the publicity they generate is often short-lived. A cheaper yet equally efficient method is public relations, which involves communicating your business rather than publicizing it.
PR is often called the opposite of advertising, although ideally, the two should work together to create a cost-efficient marketing strategy. Both approaches can be profitable on their own, but advertising has strengths and weaknesses that PR can either enhance or compensate for. Here are some ways you can use PR to improve your marketing strategy and increase your profit:
- A good foundation – A lot of new businesses fail because they went into expensive advertising campaigns without any prior publicity. PR lays out the foundation for the whole marketing mix by building your reputation, establishing your brand and corporate identity, and creating ties with the media. This way, when you do go into advertising, the public is already familiar with your brand name and you don’t need as much exposure. You can focus on the quality of your ad material instead of scrimping on production just to get more airtime.
- Longevity – In the long run, PR is more effective at building brand awareness. Aggressive advertising can work for a while – if people see your name or logo everywhere, they are bound to remember you. But with all the other ads in the media, names are just as easily forgotten once they’re off the air.Unfortunately, maintaining that much exposure is expensive even for large companies. That’s where PR comes in. PR generates publicity in less expensive means, such as press releases, direct sales or marketing, or event sponsorships. This way, your brand remains visible during periods of low advertising.
- Paid and earned media – PR and advertising use different media to get your message across. Advertising uses paid media, such as TV commercials, newspaper ads, and billboards. PR uses what they call “earned” media, which is obtained through quality material and the approval of media producers. Press releases are a sample of earned media – you “earn” your space on the paper by presenting useful content and satisfying the editor’s journalistic standards. You don’t pay as much for earned media; some papers even let you publish for free.
- Credibility – PR material is more credible than advertisements because it is prepared by experienced and mostly objective practitioners. Ads, on the other hand, are made by people who are naturally biased in favor of the company. Products that appear in editorial content are also more credible than those mentioned in ads. When you submit a how-to article or informative guide, you establish yourself as an expert in your field and establish public trust, increasing your chances of attracting customers.
Conclusion
Good PR is one of the best investments you can make for your company. With proper planning and execution, PR not only saves you money – it also ensures the success and survival of your business.