Why PR and brand building needs to become an integral part of annual marketing investments?
Consumer expectations have been evolving at a rapid pace and businesses are scrambling to break through the clutter with a powerful presence both online and offline. While good marketing can get customers interested in your brand, marketing alone can’t sustain consumer interest and cultivate brand loyalty. This is where PR (public relations) comes into the picture. A robust PR and communications strategy are critical to build a brand in this saturated market. PR as an industry has been gaining increasing prominence of late with the global PR market expected to grow at a CAGR of 7.4% by the end of 2025.
People are selective about the brands they associate with and commit to a purchase only if the brand’s values are aligned with theirs. The brand image has a direct impact on people’s perception of products/services and not investing in PR would be a grave mistake to make in today’s competitive era. Today’s consumers have no qualms about abandoning a brand at the slightest inconvenience and given the fierce competition, PR is integral to keep the brand image intact. Let’s discuss the key reasons why PR is indispensable to modern brands:
- PR reaps large dividends for your brand
The benefits of well-thought-out PR campaigns are manifold. PR helps a brand generate earned media placements and positive press mentions. While it obviously helps grow consumer trust and loyalty, it also grabs the attention of potential investors. The primary objective of any brand should always be to have a loyal customer base who are also brand advocates. Such customer relationships will help a brand move beyond profits and numbers and create an unforgettable presence. A good story will inspire customer loyalty, drive greater valuations and ultimately attract investments. Investors invest in brands that have customer’s trust and PR will help achieve that.
- PR safeguards your brand against uncontrollable circumstances
Sometimes brands can get in trouble for no fault of theirs. Especially with the proliferation of digital platforms, things can go awry in a second. A marketing campaign that didn’t go well with the audience or a simple tweet went wrong, every brand has been at the receiving end of criticism from customers at one point or another. It’s during times like these that a PR plan can act as a safety net for your brand. PR includes crisis communication which helps minimize the damage and protect the brand image. Having a good PR team is invaluable to fix difficult situations without harming your brand’s reputation.
- PR helps attract and retain top talent
A company can grow and thrive only if it has a passionate team to achieve its goals. Recruitment challenges have particularly increased post-pandemic with companies finding it difficult to hire good talent. With fine-tuned PR strategies that align with your brand’s vision, attracting the right talent wouldn’t be an ordeal. Work-life balance, work culture, and job security are of utmost significance to employees today and PR can help craft effective content pieces that address employee pain points. PR establishes brand credibility and presents it in the best possible light.
- PR is a key tool to build networks
A business can flourish only on the foundation of a strong network and PR is the key to building such quality networks. From hosting events to online engagement, PR can help cultivate relationships with journalists, key stakeholders, and industry leaders. PR gets your brand in front of key audiences and builds lasting connections, an important prerequisite to conducting business hassle-free. Effective use of PR provides businesses wider opportunities to leverage relationships and networks to their advantage.
- PR builds a legacy for your business
PR doesn’t just build a brand but builds a legacy for your business. A powerful PR strategy moves beyond building brand identity and recognition and helps entrepreneurs create a long-term impact that spans multiple generations and decades. PR humanizes the brands, acquaints audiences with inspiring journeys of company founders, and develops an intimate connection that cannot be easily forgotten. PR is a key tool to position founders and entrepreneurs as thought leaders in the industry with creative, original content pieces. Public relations isn’t just another tactic that promotes or sells your product/service. PR unlocks the door to a broader reach, greater credibility, and a better edge over competitors. It’s a long-term commitment to building an unbreakable reputation for brands, and any brand vying for long-term growth and success cannot afford to overlook PR at any cost.