Public Relations in the New Economy

JOTO_ON_THE_MAP“Exactly how does PR help businesses in today’s economy?”

Here at JoTo PR, we constantly field questions about what PR is, why it’s important and what it does.

The value of PR has become tangible – for those companies without PR, they feel the brunt of it in lowered sales and gross income. But when the economy slows, many businesses cut corners by cutting their PR. Au contraire; you should actually put PR before your marketing and sales campaigns.

Read on to learn why Public Relations is the smartest move in the New Economy.

Today, we are living and working in a new economy. Things have radically shifted over the past several years and the economy is weighing heavily on everyone’s mind. Marketing and sales are now completely different than used to be – we’re seeing healthcare changes, tax changes, government changes and people are more reluctant to spend their money and limited resources. That means we, as professionals, need to be smarter about the resources we have available to us. In this new economy, you need to leverage your marketing dollars. You need to leverage your sales. And the way you do that is with publicity & PR.

How does PR Help

With PR, you’re kept visible and you’re kept known. With that kind of credibility and familiarity, your marketing will work smarter for you. By the time people get your marketing materials, and you tell them how great you are and you tell them to buy from you, they already believe you. The end result is more people who are more interested in doing business with you. When the economy slows, businesses will often cut back on advertising expenditures – but they still need to have visibility in their market. That’s where PR comes in. Adverting doesn’t build the kind of relationships that PR can. And in the new economy, your relationship with the public and your target market is the answer to success. When people become more familiar with you, when you have third party endorsements, you can create credibility.

When PR is used correctly, you can measure the results – typically, our clients measure the results of their PR in overall improved gross income, overall new sales (such as in new clients). In technology industry, success is measured by its products, services or seats sold.

As part of our PR services, JoTo PR does marketing research on some of the country’s major industries. One market research study comes to mind – we surveyed a cross-section majority of CEOs of the fastest-growing companies in the nation. And we were told by 60% of those CEOs that they use PR to keep them visible and to keep them known. In essence, they’re taking control of their reputation.

You can take control of your reputation with PR. And again, when you do, you’ll have more people, more interested, more comfortable in doing business with you.

Here are three examples from three separate industries:

  • Technology.

There was a startup tech company that had no leg in the industry and they needed to compete with some highly competitive companies that had been around for years. After one year of doing solid PR with JoTo and getting them in the media and getting them quoted as an expert source for many of the journalist in their particular industry, they were able to compete for a 15,000 seat bid. Basically, they could sell 15,000 products in one fell swoop because they were now considered an industry contender. One year later, and two years into their campaign, they actually sold 150,000 seats for their company. That’s the power of PR.

  • Finance.

One JoTo client was a company that had been around for nearly 20 years. They had a niche target market and they were well-known in that target market. But when the economy tanked, and the financial industry came under fire, people no longer trusted companies in the financial industry like they used to. Their reputation, or lack of, could not sustain their growth. So JoTo came in to help. Through community PR work, government relations, and media publicity, we were able to establish them as a company that was competent, dependable and trustworthy. The end result of that? In less than a two year period of time, this company saw increased gross income from $15 million to $30 million. That is the power of PR.

  • Healthcare.

This client was a healthcare practitioner that had an amazing story – he had proprietary technology and he had a certain methodology that he used on athletes, both amateur and professional. He was able to help them recover from injuries and get back into the game. But he was also able to help them improve their performance and they went on to create these amazing accomplishments. But he wasn’t getting his story out. He was trying to close contracts with large athletic teams and certain schools in order to be able to be the expert on their panel and help them. But he couldn’t close them. When JoTo came in and started a publicity campaign for him, we were able to tell his amazing stories to his target market through a third party source that gave him a ton of credibility. Instead of him having to go out and try to sell these particular entities on why they should pick him, they started coming to him. And consequently, he saw the highest ever number of new patients he had ever seen in the history of his entire practice.

If you’re not seeing these kinds of results with your PR, it’s not being done correctly.

You need to get smart in this new economy. When done correctly, your PR campaign ensures that your investment comes back to you in a big way.

Contact JoTo PR today to begin taking the necessary steps to secure your future.

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