DO YOU WANT TO USE THE PR TOOLS TO BEAT THE MARKET VOLATILITY?

In today’s volatile market having a professional public relations consultancy or expert is more important than ever before. The mechanics of communication, aided by technology, have revolutionized and changed the way we do the business. Today’s consumers have become more intelligent and more skeptical too! 

Public Relations has emerged as core management function deployed as a planned, sustained and long term effort to build bridges with the core target audiences so as to achieve the desired image or manage corporate reputation need to help attain business objectives and avoid crisis emerging from media conflict (if any).

Public Relations as a tool to communicate and win over the people around is being used in different forms, from ancient times in India. Tools have changed from time to time but the urge to communicate has always remained foremost. In business, at the time of Independence, only a few multinationals had their professional public relations. However, over the years professionally managed businesses have realised that PR is necessary in order to communicate for growth and to create a bridge between the company and its publics, stakeholder’s etc.

The strategic role of Public Relations began to increase in India in the early 1990s when the government opened the economy and multinational corporations began to enter the country. Public relations companies emerged offering strategic advice and integrated communication solutions. Specialization has become increasingly important and firms are demanding higher qualifications and skill sets from workers. With multinationals coming in India in a big way and even Indian companies exploring opportunities abroad , future of Public relations in India is very bright and gives a new hope for its growth. 

Key benefits to Using a Professional PR Agency/Consultancy.
If you want to make the most of your public relations opportunities, consider hiring a public relations professional. Using a professional PR Agency will cost money and finding the right person or company can be complex and time-consuming, but the benefits will far outweigh the disadvantages.

1. Public relations professionals bring an outside, objective perspective to your situation and may see pluses—and minuses—you miss

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2. Public relations pros are familiar with the key media houses in your markets/area. They know exactly which media/editors/reporters/columnists will be interested in a specific story

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3. Public relations pros have established working relationships with top people at media houses. They know the best times to reach their contacts as well as how and when to submit a story

4. Public relations professionals understand what kinds of stories sell. They know which angles are interesting and effective and which have been exhausted.

5. Hiring a PR pro enables you to maximize productivity. If you turn PR tasks over to a professional, you and your staff will be free to focus on your own jobs.

6. Outsourcing public relations often saves money. A Professional PR Agency has all the resources in place to get your publicity done, including research capabilities, and extensive media databases that would take you time and money to create and keep current

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7. Outsourcing public relations keeps PR efforts from being neglected. It’s too easy to neglect public relations when business is booming, but since PR is the agency’s business, it will keep the process on track. And when a big project or rush job comes along, a Professional PR firm can assign as many people as necessary to get the work done quickly and efficiently.

Many people understand Advertising and Public Relations are same!

“If a picture is worth a thousand words, an article is worth a thousand Ad”

“Advertising you pay for, PR you pray for”. Though the adage is an old one, it is especially true today. People often confuse PR with advertising, but the two are dramatically different. 

Simply put, advertising places ads while PR places news. Both are designed to elevate consumers' interest in a company, product or service. Both often use the same media – print, radio and television and the Internet. This is where the similarities end. 

PR Builds Credibility, Advertising Breeds Skepticism

The late entertainer Will Rogers once said, “All I know is just what I read in the papers.” PR generates news coverage, and news coverage builds credibility. The objective of PR is to tell your story through third-party outlets, primarily the media. People believe what they read in newspapers and magazines, what they hear on the radio and what they see on television. People are skeptical of what they see in an advertisement.

Many advertising campaigns are mathematical successes and marketing failures. Advertisers may reach their intended mass audience with enough frequency and still not increase sales of their product or service. The emphasis of PR is not on reach or frequency, but the credentials of the medium and the quality of the placement. A published article or a broadcast story on radio and television is more credible than the most well placed advertisement. Credibility is critical.

Consumers will trust a feature in Car & Driver or Consumer Reports describing why the Ford Taurus is the best in its class more than they will a slick advertisement from Ford claiming that it stands above the competition. Volvo didn’t gain its reputation of safety through advertising. Instead, it gained consumer trust through Media Coverage and publicity from stories like its invention of the three-point lap-and-shoulder safety belt. In an attempt to fool readers, some companies even attempt to write advertisements that are designed to look like features. These are known as advertorials.

Publications; however, make sure readers are aware the advertorial is a paid advertisement thus eliminating credibility in the minds of readers. Speak Asia issue that is doing rounds in the media advertised heavily to lure people to invest, and there is not a single story done by any well known media, is a best example as to why one must not trust advertising which is not supported by reports written and published by the well known media!

PR Is Not Intrusive

In one of Aesop’s fables, the Sun and the Wind disagreed about who was the stronger of the two. They saw a man walking down the road, so they decided to settle the dispute by seeing who could make him take off his coat. The wind took its turn first. The harder the wind blew, the more closely the man wrapped his coat around him. The Sun then began to shine, and it wasn’t long before the man felt the sun’s warmth and removed his coat.

Like the wind in Aesop’s fable, advertising is often perceived as an imposition. The harder the sell, the harder the wind blows and the harder the prospect resists the sales message. Public Relations is like the Sun. It leads to action and produces results subtly by presenting its message through an objective third party – the media.

PR Is Cost-Effective, Advertising is Costly

Some business executives have the wrong impression that, because it appears on television or in a slick, glossy magazine, an advertisement is worth the expense. History has shown that, even though a commercial may have entertainment value, it doesn’t move consumers to purchase the product.

It would be difficult to find an executive who would prefer seeing his company’s ads on TV instead of a news feature in Forbes or Fortune. The article builds credibility, positions the company as an industry leader and generates awareness without costing a penny. 

Some people believe that the higher the price, the greater the value. In the case of advertising, figures indicate companies pay Rolex prices for Timex value. Brands are best built with a long-term public relations plan, not a short-term advertising blitz. 

PR’s Life Span Is Longer Than Advertising

To the typical consumer, an ad is like a butterfly. Its life span is short-lived. This isn’t the case with PR. A well-placed story can reap benefits for an extended period. The fundamental PR strategy is to place a story in one publication and move it up the ladder to another magazine or newspaper, or transfer it to another medium such as radio or television. A story can also be sent down the ladder. For example, an article in the Times of India or Economic Times often later appears in smaller publications, further enhancing the story’s effectiveness.

When determining whether to spend your marketing budget on public relations or advertising, –weigh the importance of credibility, cost-effectiveness and a positive corporate image. 

Contact Aryan Rana for more information -09930372436