By Cathy-Anne O’Brien
Literally speaking, public relations is about relating to the public. Some companies insist that their PR program delivers bottom line results such as increasing sales and website traffic, but it’s actually more meaningful than that. In fact, it’s about communicating to various stakeholders based on your objectives and target audience. This could be anything from raising your business’ profile among investors to building your reputation through thought leadership. It’s about establishing a sustainable, loyal relationship with customers where your brand is seen as trustworthy, credible and engaging. The authority or narrative that a PR approach weaves around your brand is where the true value lives.
While sales and customer acquisition is the ultimate goal for most businesses, correlating sales data directly to a PR campaign is challenging, short sighted and actually undervalues the benefits. Sales depend on everything from your marketing strategy and your paid media investment, to your direct sales approach and SEO performance. Public relations complements these sales efforts by focusing on building your relationship with the public. Like any relationship, it takes time and commitment.
A well-executed, steady investment in a PR program makes your brand part of the conversation. Whether your spokesperson is a recognized expert in their field and is regularly quoted in the press, or you have an engaged social media community, or influencer marketing is introducing your brand to new audiences – this all contributes to sales. And measuring the real ROI should take a number of factors into consideration.
Measurement of the earned media results is the easy part; the number of media stories, impressions and reach is all easy to determine. But did those media stories and impressions matter to the bottom line, and how do we know?
From a quantifiable perspective, new customers who made a purchase as a result of a media story they read isn’t easily assessed. But frankly, direct sales from a media mention isn’t a realistic goal. Media coverage is about building brand recognition and trust, and can help influence the perception of your brand. Companies that regularly secure earned media opportunities become top-of-mind for consumers. Whether that company has the leading product in their category, their spokesperson is a go-to expert or an online community tried and loved the product — this credible, unbiased brand mention can go a long way for your business.
Many successful companies prioritized a PR strategy over traditional marketing efforts, including the Body Shop, Hugo Boss and Häagen-Dazs to name a few. Savvy business magnate Bill Gates is known to have said that if he “had $2 left he would spend $1 on PR”. And Richard Branson of Virgin Media, who ensured that product launches were supported by sometimes death-defying stunts, said, “Publicity is absolutely critical. A good PR story is infinitely more effective than a front-page ad.”
As you assess your marketing budget and ad spend, perhaps take a longer term view of what a well-executed PR program could do for your brand. Instead of PR being an afterthought and a small component of a larger communications strategy, invest time and resources into a relationship-building approach – with media, influencers, partners, government, consumers, employees, the community and other stakeholders – that is based on trust and connection. In a competitive environment these connections will help you thrive.