A company will need not only skilled and motivated employees on staff, but also a strong consumer base in order to grow. So, companies large and small can turn to an advertising agency, a public relations company (or PR firms), and a content marketing agency for help in promoting their brand and voice. After all, a company’s or brand’s presence in the public is vital for drawing in new customers and keeping loyal customers engaged, and this broad field of communication is best done with expert help. A company’s in-house talent may have limited means to promote new products or make announcements, but a public relations firm can go a long way in boosting the client business’s image and therefore, its potential for profits.
The Business of Public Relations Firms
A number of studies and surveys have been done to determine how effective public relations work can be, and the numbers speak for themselves. The public relations industry experienced 30% growth in the last five years, and the global public relations industry’s revenue is due to grow from $14 billion in 2016 to $19.3 billion sometime in 2020 (according to projections). Meanwhile, over 60% of surveyed marketing executives have said that public relations firms and marketing agencies will work together more closely in the foreseeable future, and over 60% of PR executives say that content creation and collaboration with social media influencers will play a major role in future PR efforts. Put another way, the public relations sector is open to new ideas as the internet and communication methods evolve, and social media and organic web traffic have a role to play. Still, traditional methods such as radio ads, billboards, newspaper ads, and TV ads still have a place. Most often, companies today take a holistic approach to get the best of both worlds, so to speak.
Hiring Public Relations Firms
Companies big and small alike have need of PR companies by their side, and they are willing to invest a lot into this. Among larger American companies of 500 or more employees, 46% of them engage in PR activities, and 19% of them tend to hire external agencies to take care of things. And among small to medium enterprises, 31% of them invest marketing dollars into public relations, and 15% say that PR is their top marketing tactic for growing their business. For many of these companies, the quality of their PR efforts can make or break them.
Once hired, a public relations firm will act as a business partner for the client, and its staff will be receptive to the client’s business goals and visions. What is more, that PR firm’s staff will have the talent and expertise needed to track the current state of the client’s industry, and understand best how to promote the client’s brand effectively to a broad audience. Put another way, the client makes the product/service, and the PR firm announces it and promotes it to consumers far and wide.
PR firms can use many methods to accomplish their goals. They can create advertisements of all kinds, boost the SEO value of the brand’s website and related web pages, create quality videos with A/V experts, and put the client into contact with anyone who can fill in the gaps for all this. The staff at a public relations firm can also help the client write their mission statement and stay true to it.
A good PR firm will also help the client create brand awareness when a new product is launched, and to put it simply, generate a lot of attention and excitement for it. The PR firm can even help develop and test the product ahead of time to boost the odds of a successful launch. That PR firm can also help the client secure expert endorsement for the public, and use social media (a new but effective tactic) to spread the word even further. Similarly, that firm’s staff can calculate the ROI (return on investment) of that social media work, to make sure that marketing campaigns based on Google+, Facebook, Twitter, Instagram, and YouTube are cost-effective. Of course, more traditional media such as radio and TV interviews and print media will be included, too.