Every successful business deeply understands and appreciates the importance of watching what it spends. At a foundational level, when all other things are held constant, the simplest truth is that you need to make more than you spend to remain viable. As such, executives can (and should) be very critical of where they choose to invest resources. This includes weighing the value of significant marketing spend.
The fact of the matter is that there are a large portfolio of reasons that businesses in all industries engage in marketing endeavors and why PR is a cornerstone of the best strategies. From raising media coverage to managing an unexpected crisis, expert and strategic communication allows you to positively impact – or even control – the conversation around your product or service. The excellent benefits that come with good PR are many.
Bring in Business
Above all else, industry leaders embrace proactive and involved PR campaigns because public relations generate new leads. When you get covered in the media, your name is being shared among a much wider audience of people. This might mean an enormous amount of widespread coverage, or it could involve increasing your presence in a particular demographic which is much more specifically relevant to what you are offering. Either way, growing your exposure to potential customers leads to more sales prospects. Great media coverage also helps to establish credibility, especially when you are able to win a positive editorial angle.
Encourage Happier Employees
Company leadership is able to raise staff morale by executing the right PR strategy. When the way in which your business is contributing positively to its field or the world at large is receiving media coverage, employees can enjoy feeling validated. It serves as recognition of their hard work and success. There is also real benefit to championing employee excellence internally as well. Even digital engagement can be helpful. People who work for companies where executives are active on social media report feeling much more invested and inspired than individuals who do not enjoy the same amount of online engagement from leadership.
Pulling in a much stronger pool of candidates is an additional positive result of good PR. Spreading excellent buzz about your organization’s work does not just lead to more potential clients hearing about you, it also catches the attention of individuals who may be eager to jump on board and contribute. The best PR does more than just promote a product, it establishes you as a leader and, by extension, as the kind of organization that people in your field should want to join.