Marketing & PR Firms - Reasons for Success or Failure in the PR Business
Saturday, November 23, 2013
Businesses come and go, marked by successes and failures that either helped build a strong foundation or contributed to diminished market viability. Public relations businesses are especially volatile given the subtle nature of the product involved. Shoemakers know that their product has failed when the shoe falls apart too easily; dissecting failed PR campaigns can be more complicated. Identifying different reasons for success or failure in the PR business can help you develop a stronger strategy for a lasting, profitable enterprise.
Market Knowledge
Having intimate, accurate market knowledge helps PR businesses develop successful strategies for purveying a product. Understanding a client's target demographic, condensing a product's appeal into one iconic photo or slogan and assessing competitor weaknesses to determine potential points of entry into their customer base are all key strengths associated with market knowledge. Without sufficient market knowledge, PR campaigns can fail thanks to inarticulate expressions of product appeal or tone-deaf attempts to sway target consumers.
Quality
Another reason for success or failure in the PR business relates to quality. Companies rely on PR businesses to project an image of quality, trustworthiness, trendiness, cachet or desirability to consumers. Cheaply printed advertising materials, generic marketing strategies and unoriginal campaign efforts help persuade clients to shed your business in favor of a quality-driven firm. Honor clients' PR goals with thoughtful, creative and innovative strategies that successfully meld their product with cutting-edge techniques to effectively build or bolster brand image.
Networking Ability
Public relations professionals must have outstanding networking abilities to succeed, since even the best campaign will fail if consumers aren't exposed to it. Industry connections with radio DJs, newspaper editors, broadcast editors, top bloggers, ad managers and other related decision-makers can help propel PR campaigns to the top of consumer agendas. If your PR firm lacks crucial professional contacts, this will be a factor in your campaign's failure.
Public Interaction
Smart PR businesses recognize that modern consumers want and expect opportunities for interaction. Incorporating social networking media and other interaction-friendly strategies into PR campaigns provides an outlet for consumers to share opinions and spread your message to their friends and family members. Public interaction helps create consumer buy-in while reinforcing brand name recognition and image-building, making for a successful PR campaign.
Luck
As with any business, the PR business is partly reliant on luck for success or failure. Luck isn't a reliable business strategy, so your best bet is to build safeguards into your business plan should natural disaster strike or powerful competitors emerge. Actively maintain your current client base to avoid overreaching when working to attract new clients to assure regular accounts and revenues. Carefully monitor new trends, experimenting with developing techniques and strategies with less-publicized accounts to minimize damage should efforts fall flat with consumers.
Tags:
Marketing, Marketing amp; PR Firms
Market Knowledge
Having intimate, accurate market knowledge helps PR businesses develop successful strategies for purveying a product. Understanding a client's target demographic, condensing a product's appeal into one iconic photo or slogan and assessing competitor weaknesses to determine potential points of entry into their customer base are all key strengths associated with market knowledge. Without sufficient market knowledge, PR campaigns can fail thanks to inarticulate expressions of product appeal or tone-deaf attempts to sway target consumers.
Quality
Another reason for success or failure in the PR business relates to quality. Companies rely on PR businesses to project an image of quality, trustworthiness, trendiness, cachet or desirability to consumers. Cheaply printed advertising materials, generic marketing strategies and unoriginal campaign efforts help persuade clients to shed your business in favor of a quality-driven firm. Honor clients' PR goals with thoughtful, creative and innovative strategies that successfully meld their product with cutting-edge techniques to effectively build or bolster brand image.
Networking Ability
Public relations professionals must have outstanding networking abilities to succeed, since even the best campaign will fail if consumers aren't exposed to it. Industry connections with radio DJs, newspaper editors, broadcast editors, top bloggers, ad managers and other related decision-makers can help propel PR campaigns to the top of consumer agendas. If your PR firm lacks crucial professional contacts, this will be a factor in your campaign's failure.
Public Interaction
Smart PR businesses recognize that modern consumers want and expect opportunities for interaction. Incorporating social networking media and other interaction-friendly strategies into PR campaigns provides an outlet for consumers to share opinions and spread your message to their friends and family members. Public interaction helps create consumer buy-in while reinforcing brand name recognition and image-building, making for a successful PR campaign.
Luck
As with any business, the PR business is partly reliant on luck for success or failure. Luck isn't a reliable business strategy, so your best bet is to build safeguards into your business plan should natural disaster strike or powerful competitors emerge. Actively maintain your current client base to avoid overreaching when working to attract new clients to assure regular accounts and revenues. Carefully monitor new trends, experimenting with developing techniques and strategies with less-publicized accounts to minimize damage should efforts fall flat with consumers.
