Public relations (PR) can bridge the gap between the people behind a product or service and the individual purchasers. That means PR firms use their talents to draw direct lines between those who are looking to spend money to solve a challenge and the companies that can meet their needs. Although PR campaign results are not easily measurable, good PR can bolster your business’s sales and help your company grow. Here are five ways PR can help you increase your profits.
1. Position Executives as Leaders in the Field
Any great PR strategy should include elements of thought leadership, which will help position your executive team members as leaders in their fields. You can do this through interviews, offers to comment on industry-related breaking news and evergreen topics, and especially through opinion pieces.
Thought leadership ultimately builds credibility for your brand. When the people running your company are also considered the key authority figures within your industry, consumers are more likely to trust your products and services and may be more likely to purchase from you over your competitors.
Best of all, thought leadership can be executed on a very small scale! Pitch op-eds to your local and neighborhood newspapers and watch profits through PR grow.
2. Visibility
Don’t believe anyone that says brand awareness doesn’t impact your bottom line. Traditional public relations campaigns can work wonders when it comes to increasing simple brand awareness. This is a classic top-of-funnel marketing strategy that will help you make more sales and close deals down the line because consumers have to first realize that your brand exists before they can spend money with you!
Although advertising is one good way to build leads, every business has finite resources. Earned media through pitching will help you reach more potential customers without an additional budget, especially if you land a coveted mention in a nationally-reaching publication. A percentage of the people who read the piece will likely turn into customers down the line.
3. Develop Lucrative Partnerships
Well-aligned partnerships can do lots of good for both parties. The key to nailing an authentic partnership is to make sure both parties’ values align. Both brands or individuals need to be working towards similar missions, or consumers will see through the charade.
PR professionals are master networkers; they spend significant time nurturing relationships with reporters, influencers, and government entities on behalf of brands. That means PR pros will have well-targeted suggestions on the best brands or people to partner with and those to avoid. The ideal partnership will feel natural but will expose both parties to new audiences and demographics.
Partnerships can also be “in-kind,” meaning you don’t have to spend additional budget to work together—each member of the partnership gives up goods or services instead. In-kind partnerships are a great way to share your goods with partners so they can talk about your product or services firsthand, thereby increasing the reach of your partnership. In the same vein as coverage in large publications, when a well-respected thought leader or influencer shouts out your product, consumers are more likely to trust your brand and become purchasers down the line.
4. Traffic Generation and Improved SEO
Every media hit, influencer post, and partnership secured will help drive traffic to your brand’s website. Search engines like Google rely on backlinks, or links to your site from other trusted sources, to help it determine which webpages to boost when search queries are submitted. The more trustworthy backlinks you can secure, the better your website is ultimately going to perform.
Public relations can also improve SEO, or search engine optimization. When your brand is featured in an article or you’re selected for an interview, you’ll start to be associated with certain keywords. When searchers type in these keywords, your website will be more likely to show, thereby securing more eyes on your site (and improving profits in the process).
5. Build Brand Reputation
Media and social media coverage should be consistent in tone. Great PR firms will ensure all executives who are available for interviews are prepped on key talking points, preferred brand language, and tone before chatting with media. Social media posts, website images, and op-eds should all work together to underscore your brand values.
Managing a brand, especially for large companies, is no easy task. But a cohesive brand is a persuasive one; consumers are more likely to trust your brand and be loyal to your company if they know what to expect from you across all platforms. If you employ a playful tone on your website, have fun with social media copy and media interviews, too! If your brand prefers to use formal business language, this reflects in published op-eds and blogs. This sort of eye for detail from your selected firm will help you build profits through PR over the long term.
How can I measure profits through PR campaigns?
There are several KPIs your PR team can employ. You can track the number of media hits secured, the number of impressions secured, and the number of readers per month for any particular publication in which you’re featured.
PR firms can also use trackable links and measure how many people visit your website from each media placement. We can use similar tactics when tracking partnership coverage and social media results.
How long should I expect it to take before I see profits from my PR campaigns?
The answer will differ across industries. Most PR firms suggest it will take four to six months to see tangible results in the form of increased sales, improved SEO, and improved brand awareness. For industries with greater competition, expect a longer lead time.
Curious how else a PR team can improve your business’s revenue? Contact us to chat with a member of our team about how our services can help support your business goals!