Rebekah Ashby, PR Account Director
When all around are talking about credit crunches and economic downturns, history shows that dispensable functions, such as PR, can be the first to face the axe.
But, as the economy slows, it’s critical that businesses ensure they have a media profile to help them trade through – and out – of recession.
If companies opt to run and hide now, and don’t publicise themselves and their wares, they will find it even more difficult to win new business and survive the downturn.
In times of economic hardship, people rely more heavily on word-of-mouth and personal recommendations. They don’t want to take risks on the unknown and are less likely to believe – or indeed notice – traditional advertising.
But PR is credible and can get companies some invaluable third party endorsement.
Overworked journalists are under increasing pressure to provide more content for an increasing number of channels. Groups of regional newspapers are amalgamating across the country, with the same team of reporters now responsible for filling more than one title.
Populating a website with news, blogs and videos, as well as filling their core newspapers, magazines and broadcasts, is all in a day’s work for the 21st century journalist.
Thus, the days of animosity between journalists and PR professionals are fading, as the journalist experiences a growing need for information.
A good PR professional will provide the overstretched journalist with the basis of a story, which can then be worked up to fill their pages and homepages.
PR is about managing reputations and communicating with everyone that has an interest in your business.
Some businesses are choosing to run and hide from the press at the moment, fearing commenting in the media could ‘tempt fate’ or make them look ‘cocky’.
But this leaves a massive opportunity for the dynamic, ambitious businesses that are determined to survive – and thrive – through the current economic uncertainty.
They will snatch the limelight from the businesses opting to hide their light under a bushel – and maybe win their customers too.
It is also important that should difficult announcements, such as redundancies, need to be made that you have a safe pair of hands you can call on. PR people are an invaluable part of any crisis management plan and can also help manage internal PR so that messages get through to the right staff at the right time.
In a time of budgetary constraint, PR allows companies to do more with less expenditure.
It requires lower spend than advertising and can potentially reach more people and delivers a stronger message.
As recession increasingly requires people to justify their spend, PR provides a measurable and tangible way of seeing where the budget has gone.
So make sure, that while others batten down the hatches and take a ‘no comment’ stance, that you come out fighting and seize the current PR opportunities.
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