PR is here to stay. In fact, a stat from this article suggests the global PR market is projected to grow by almost 32% over the next 4 years, taking its worth from $88million to $129 million.
In an increasingly competitive market and with the rise of social media marketing, businesses are recognising the need to use alternative methods to get their name out there and boost their visibility to a wider audience.
PR works to manage and shape the perception of your brand. To shine a light on your organization’s work so your audience has a positive perception of your brand’s image. It’s about being good, doing good and, most importantly, being seen as doing good. Succinctly, PR offers online brand reputation management services so you can provide more value to your target audience, attract your target market, increase your brand’s credibility, generate more leads and build your brand’s image.
What’s causing this growth?
According to Biz Community, this growing profitability is due to three key factors.
Firstly, corporate reputation is highly valued by companies. People care about doing business with people who are credible, reliable and trustworthy. Furthermore, any association with a business who has experienced negative PR could reflect badly on that company and their own brand image. People seek to do business with others who have a strong and positive brand image.
Secondly, market spend is moving from other sources to PR. PR offers a tried and tested method that has been around for centuries. With people nervous to spend money and know exactly where to invest their money into their business growth, PR is often seen as a ‘safe bet’ for brand exposure and for good reason. PR focusses around building relationships with the right people. A PR agency, like Percepto, will already have long-standing relationships in place with key contacts.
Thirdly, we are seeing the merging of services and PR firms offering non-traditional services. Job descriptions are changing and more employees are seeing elements of PR work added into their role, as businesses recognise an increasing need to offer online brand reputation management services.
We can certainly conclude, from these three factors, that people and businesses around the world recognise the need to implement a strong PR strategy to drive business growth.
PR is not a ‘quick fix’ but a long-term strategy for success
In a society that provides many things instantly, at the click of a button, the desire to see quick success in your business can feel urgent too. But PR is not a ‘quick fix’. PR is planting seeds today and allowing them time to grow and flourish over time.
Unfortunately, many businesses only choose to seek out online brand reputation management services when they are under fire and experiencing negative press. But investing in PR is something that should be done from the beginning of your business. If you build a good, clean and positive reputation from the offset, your credibility will be cemented and any future negative press will be easier to avert.
According to one article on Business.com, “Research shows that 85% of consumers research a company online before they decide whether to make a purchase. When your potential customers research your company, this will include any social media presence you have, as well as reviews and news that pop up when they type your business’s name into a search engine. Part of effective online reputation management is understanding how your customers are using the web. Your website might be the last place they go to find out more about you.”
This certainly shows the need to get your name out there and build a positive brand image for yourself using online brand reputation management services. Social media provides a free platform for anyone to grow their business visibility and authority, but implementing a solid PR strategy will give you the edge and help you to solidify a strong presence within your niche.
There is a strong reason as to why the PR industry is expecting increased profits over the next 12 months. Businesses are recognising the need, not want, to create positive publicity is order to stand out and get ahead of their competitors.