How PR helps SMEs add value to their business and reputation?

India is country of 1.4 million small and medium enterprise (SME) businesses. As of now there are over 300 companies listed on the SME platform of Bombay Stock Exchange and National Stock Exchange and several hundred companies are expected to list in the near future. I happen to interact with the top management of many SME companies and majority of them were confused about the value PR can bring to their businesses and reputation.  
Although most big companies today understand public relations is important, but for SMEs PR is still an obscure concept.

The question SMEs often ask is how will PR help me take my business to the next level?

The simple answer is when it comes to modern organisations business plans, public relations (PR) represent an important tool in the marketing mix, actively and continuously differentiating brands from the competition and speaking directly to audiences. Here are just a few reasons why PR is a must-have for every SME communication strategy:

1. PR creates awareness and raises your company profile: Effective PR sparks an interest in your audience and gets them to sit up and take notice of your company,  brand and product offering. This could be in the form of regular news coverage, TV interviews, audience interactions on social media, campaigns and so on, focused on promoting key messages and brand traits.

2. PR builds reputation and credibility. Public Relations is about reputation — the result of what you do; what you say and what others say about you. According to various research studies 90% of consumers trust media stories over traditional ads. As Richard Branson wisely said: “A good PR story is infinitely more effective than a front page ad.” A 2014 Nielson study concluded that PR is 90% more effective than advertising. 80% of business decision-makers prefer learning about companies through articles instead of advertisements, and 48% of the millennial audience says word-of-mouth influences their buying decisions over other marketing forms. Credibility is a hard-earned respect and comes from knowing your product enough to build a strong brand image and communicating exactly how it benefits the customer. Effective PR is clear, concise and transparent, steering clear of anything that may be misleading. In addition, 84% of consumers are willing to pay more for a product/service from a company they believe to be socially responsible.

3. PR positions (Showcases) you as a thought leader -A successful PR team knows they need to differentiate. By getting creative and taking a stand on issues your brand identifies with, you reflect yourself as an expert and forward thinker. A good example is Cisco and their campaign around “The Internet of Everything,” covering innovation and interconnectivity. Such plans require the availability of regular content that is interesting, informative and original, relayed across all communication channels– it pays to remember your audience is always listening.

4. PR delivers value for money -The value of PR is rooted in strategically maintaining positive and engaging two-way communication between your brand and audience– this effort takes time, research, planning and skill, and when done well, is worth every rupee spent. When it comes to PR budget allocations, everything depends on the type of campaigns you’re looking to run and the value derived thereof. Your goals, channels of choice and audience need to be clearly defined for plans to succeed, securing organic exposure on multiple levels. Is your PR plan focused on increasing traffic and interest or building brand image? Are you doing something different from the competition? Social media allows for considerable brand reach in terms of PR, so it is essential to use it to its maximum capability as well. The ROI on your PR campaign will help determine the kind of rupees spend you need to account for to ensure maximum reach and impact.

5. PR helps with crisis management- A thoroughly researched PR plan prepares you to deal with crisis communication in a responsible, sensible and professional manner. If the situation should arise, a brand needs to be adequately prepared in advance and able to efficiently calm audiences and the media with timely, appropriately formulated responses. Any crisis that is mishandled can have damaging consequences to a brand’s reputation. It is recommended to prepare all press materials in advance or at least draft some key documents.

6. PR tells your story- Every organisation has amazing stories to tell – whether they are how you started the business, how your services assist clients or where your products fit in with the latest consumer trends. Strategic PR tells a well-crafted story to all those interested in listening across traditional, hybrid, social and owned media platforms. It speaks of your brand personality in a positive manner, demonstrating how it is able to answer customer needs, whilst showcasing brand purpose and passion in an authentic and realistic tone. Through techniques such as media coverage and social media engagement, PR helps you to get your stories in front of your target market and increase visibility of your products or services.

7. PR establishes and maintains relationships with influencers - Public relations isn’t simply about broadcasting your messages. It’s about connecting with your ideal customers or clients in a way that informs and engages them with your brand. This two-way communication is done on an ongoing basis, which helps your organisation to build strong and ongoing relationships with the people that matter. A well-planned PR strategy places considerable emphasis on interactions with customers, the media and other key industry players and influencers, building loyal, two-way relationships across various channels. Social media allows brands to get to know their audience on a personal level, starting conversations that are real, relevant and engaging.

A well thought out PR strategy is key to creating inspiring campaigns that stand out. Proactive PR aligns business and reputation goals  in a manner that puts you on higher pedestal and as an emerging business, it’s recommended to have an expert PR team handling your marketing strategy, either in-house or outsourced to a specialized agency. 

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