Words: Richard Branson. This article appeared in the August/September issue of Your Business.
Make use of this cost-effective tool…
A business can’t grow until you can get your brand in front of the right people. This is exactly what public relations does. When entrepreneurs devise a business plan they often include advertising within their marketing, and neglect public relations (PR), one of the most cost-effective tools to raise brand awareness.
We encounter advertising daily, so it’s more familiar, but few are aware of the role that PR plays in the articles they read in magazines, newspapers, and online. Nor are they aware of its power. When a consumer sees third-party coverage of a company, a brand, a product, or a service, it is perceived very differently from an advert. When we see an advert, we know the advertiser has spent money on the space and is trying to sell something. When a third party such as a credible journalist or publication endorses a product or service, the company gains credibility. Consumers are much more likely to make a purchase based on third-party endorsement than an advertisement.
There are different elements that make up the practice of PR – PR does not stand for the press release:
Media relations
Media relations is the conversation between a brand and the media in order to share information through the targeted media outlet to communicate with a brand’s target audience. To sustain integrity and offer credibility, the majority of media outlets refuse to accept payment. For a publication to cover your story you need something captivating that’s relevant to its readership.
Publishing House Tours (PHTs)
If you have a bigger budget, you can arrange a media tour. This strategy involves briefing a company spokesperson to travel around to publishing houses, giving interviews, and attending events. For SMEs, it may not be the ideal form of public relations, but for large organisations it can be effective and is an excellent method of publicising a company and building relationships with the media.
Newsletters
Begin to collect email addresses for potential and existing customers and build up a database. A newsletter offers an excellent method of keeping your target market updated and in the loop about your most recent achievements, events, and plans. A light-hearted, newsworthy, and fun letter is crucial.
Special events
They can be anything from a consumer appreciation day, market day, or running a discount. Events can be used to target a circle of individuals with who you want to open up a conversation.
There are many ways to create traction for your small business without a big budget. My advice if you are going to begin using PR to grow your business is to concentrate on a specific issue and find publications that match your story. You need to let the media know what issue your product/service addresses and the benefits to be realised.
Speaking with a friendly journalist at a local paper, they said: “I love it when someone brings a compelling story to the table. It means I have to rack my brains far less to get my work done. A good PR contact or someone who regularly brings great story ideas is valuable to every journalist and editor.”
Here are five tips for small business owners to improve their PR presence:
1 Create your story
PR is all about telling a story, and getting people to listen to that story. If you do not have a public relations strategy, you risk others creating your story and therefore having an impact on your brand image. Social media is hugely powerful, and by simply appointing an individual to act as a spokesperson, and be a market/industry authority, you can begin getting your story out there.
2 Benefitting the bottom line
A public relations campaign can be less expensive than advertising, and the benefits can be far more substantial than those of advertising. One well-placed article can lead to a substantial increase in sales and tremendous growth, and because many small businesses have a unique story to tell, the media find many SME start-up stories newsworthy.
3 Credibility
Advertising includes paid self-promotion, and potential customers are understandably skeptical of it. As a general rule, a good news story in regard to your company is worth three to five times the value of the equivalent quantity of advertising.
4 Build your network
Make contact with journalists who cover your industry, and offer to become a trusted source. Journalists have a list of people who they can go to as an expert source to provide third-party expert comment to add credibility to their article.
5 Keen is consistent
Even the best of public relations campaigns rarely produce results overnight. Map out a six-month to a one-year plan that has milestones you want to achieve in order to get to your final goal. Over a period of time, you will break through the noise and find you have distinguished your company from the rest of the crowd.
With effort on your part as an entrepreneur, and a willingness to improve your visibility, your PR efforts will pay off in the long-term, and be a better investment than traditional advertising.
Kimberley Clare Ogden heads up Sapphire Street, a boutique public relations consultancy that specialises in brand definition and business development.
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