In the midst of a recession, the escalating costs of traditional marketing avenues, such as Google AdWords, coupled with the overall rise in the cost of doing business, pose significant challenges for organizations.
PR is incredibly useful during these tough economic times. It’s not just a nice-to-have but it is a crucial element to guiding you through the complications of a recession
As businesses find themselves spending more cautiously in slower sales pipelines and experimenting with new strategies, we must advocate for a proactive shift in approach. PR is a cost-effective solution to raising your profile and strengthening the brand of your organization, as well as being efficient.
In the crowded and skeptical marketplace of a recession, credibility needs to be your brand’s main priority. PR is a way to show the public just how credible you can be, all done through media exposure. If done well, your organization will stand out as trustworthy and be able to be selected in a tough market.
There are two fundamental advantages of PR, its cost-effectiveness and speed. In contrast to the escalating costs associated with advertising, PR is portrayed as an economical tactic. By simply picking up the phone, organizations can position themselves as the best of the best, showcasing credibility without engaging in keyword battles. All for the price of a phone call, and without taking up too much of your time.
To get into the media fast, you need to be able to predict trends and address sector problems. By warning about challenges and providing solutions, organizations can rapidly build their profiles, therefore increasing their media presence and credibility.
Once you get into the media, it often leads to other media opportunities, allowing yourself to build a bit of a profile. Getting into the media fast, particularly during a recession, not only builds credibility but also accelerates slow sales pipelines. If you’re making headlines, it ultimately means you’re standing out as a credible source in your industry, leading to a lot of trust. And trust is ultimately the most important thing in business.
Drawing from recent economic challenges, such as the COVID pandemic and the conflicts between Facebook, Google and Meta with the Australian government reinforces the timelessness of PR as a tactic. During tough times, people went back to PR because how else do we increase our profile strength in our brands?
PR is not just a tactic, but an old-school wisdom that has proven to stand the test of time. As organizations seek ways to strengthen their profile while navigating the complexities of a recession, embracing PR becomes not only a recommendation but a pivotal step toward lasting success.
Founder and Director of Good Talent Media