By Wendy Greenwald
As companies attempt to survive in the face of tough economic times, owners are looking for areas in which to cut costs. Often marketing is singled out to be one of the major areas for cost reductions. Business decision-makers should cut overhead where they can; personnel, if they must; but to understand that eliminating advertising and public relations entirely at such a critical time is tantamount to business suicide.
Now, more than ever, companies need to make people aware of what they offer that differentiates them from their competitors. Businesses cannot afford to sink into oblivion. Savvy companies use advertising and public relations to increase their name and brand recognition and enhance their public image.
Cutting back on marketing can make a company less visible at a time when just the opposite is required. Fewer customers are being retained and added across industries due to a difficult economy in which consumers are spending less. However, companies should not decrease their marketing in response. Decreasing marketing will only result in still fewer customers because without marketing, potential customers will not know your company exists or why they should even care.
The difference between public relations and advertising firms is that public relations firms use "earned" media to garner public awareness for their clients in an increasingly competitive marketplace. Earned media involves an individual or company's exposure in news stories when there is something newsworthy to say, as opposed to paying for an advertisement. The public perception of news stories is that reporters their articles are more objective than advertisements. This, in turn increases the credibility of a news story and by extension, a company.
Following are some suggestions that companies can try in-house to remain top-of-mind to their target audience:
· Craft a short, informal e-mail "pitch," as opposed to a press release about how your spokesperson is available to interview about a newsworthy topic and why they are qualified to do so.
· If media personnel choose to interview your spokesperson, craft talking points based on a company message or important "sound byte" and role play the interview with the spokesperson beforehand.
· Use Google Alerts - Select key words to receive daily alerts about your industry. Companies can offer news media their spokespeople to comment on national, regional or even local breaking news related to their industry.
· Utilize "new media" - internet publications and "social" online networking to promote your company. With the recent unfortunate demise of the Rocky Mountain News, businesses are realizing that they cannot rely solely on traditional media to market themselves. Participate in online conversations related to your industry. Social networking sites, online articles, podcasts, blogs, forums and other "new media" are critical to include in your marketing mix. Company principals must not ignore the power of "new media" as a communications vehicle.
· Many newspapers (such as this one) will place well-written penned articles. Find company personnel who are good writers and assign them timely, industry-related topics.
With a little creativity and not a lot of money, businesses can retain their relevance despite these uncertain times.
About the Author
Wendy Greenwald, Founder and President of
The Solution PR (
www.thesolutionpr.com), has built and run public relations operations for over 20 years. Throughout her career, Wendy has built solid relationships with the business, trade, and consumer press - relationships based on her reputation for sound news judgment and a proven track record of bringing only the most newsworthy events, issues, products and companies to editors' attention.Wendy was selected as one of the three finalists in the communications category for the Denver Business Journal's 2008 and 2007 "Outstanding Women in Business" award.