Digital and social media are constantly on the rise and continue to be the primary platform for effective marketing campaigns, but good PR strategies still make a valuable difference for businesses. For example, a newly established brand can leverage public relations to build their presence in the industry. Established businesses, on the other hand, can use PR to expand their reach and evolve their goals and positioning.
Well-executed PR strategies enable businesses to benefit from earned media which facilitates increased brand identity and industry recognition. This in turn amplifies market presence and boosts sales.
PR strategies create a memorable brand identity
Consumers are more likely to buy products and services from companies they are familiar with, like and trust. That’s why it is important to invest in brand recognition and brand image. Exploring different ways to tell the story of your business will help you find new opportunities for growth.
What products or services are you offering? What makes your brand unique? Why should consumers choose your company over your competitors? How can your brand make a difference to your customers? These questions can help you design a PR strategy, choose the best media outlets to target and create your ideal audience profiles.
Tailoring your communications strategy around your ideal customers and their needs shows them that you are valuing them. When done consistently and genuinely, this creates trust and conveys a positive image of your brand.
Grow consumer interest with good PR strategies
PR strategies can also be an important element in developing innovative ways of attracting consumers to your brand. They help create brand awareness and often lead to a significant increase in sales.
For brands just starting out, a PR campaign can be the perfect way to gain traction. Amplifying your brand and its story attracts followers and gives them an idea of who you are. After all, if they don’t know you, why would they interact with you? If they aren’t aware you exist, how would they buy your products or services?
It’s all about brand credibility
A great PR strategy not only brings in new customers, who then build relationships and trust with the brand. It also helps you keep your existing customers coming back for more. The public’s interest in a business involved in a positive story is a powerful marketing tool. Businesses that receive generous media exposure will find their brands reach a wider audience and gain greater brand value.
PR strategies can be used to develop a brand image that makes the business more credible in the eyes of potential customers. This can increase sales dramatically, which is why many businesses choose to work with PR specialists who know just how to maximise the impact of a good PR story.
Pushing for maximum valuation
PR can also go a long way in your efforts to push for greater valuations with investors. If you want someone to put their money behind your business, you need to show them that there will be a good ROI. A strong PR strategy helps to establish credibility and a good reputation supports your arguments when putting your business forward to investors. This is why brands should communicate often with potential investors and underline the fundamental principles of their business and forecasts for subsequent performance.
In summary, when setting the story and direction of your brand, it is good practice to work with a PR & marketing agency, such as Nifty. Our dedicated PR specialists can unlock a number of benefits for any business looking to maximise their PR effort and increase profit margins.