In today’s tough business climate, companies are seeking ways to cut their marketing budgets as they look to bolster profit amid continuing concern over the state of the economy. It is a well-established fact, that in hard times, companies cut all marketing costs that are not tied to direct sales. Whether your company intends to decrease spending or not, before you slash and burn across the board, you may want to consider preserving or even investing more money into public relations. Public relations is a proven, measurable, cost-effective method for generating visibility, credibility and thought leadership. A survey of chief marketing officers at major national and global advertisers conducted by the Association of National Advertisers found that the value public relations delivers as part of the overall marketing mix is increasing. In addition, results from a recent survey by Vocus, a leading public relations software management company, found that 42 percent of those surveyed said their PR budgets would increase in 2011 versus only 29 percent who responded to the same question last year.
Also consider the fact that newsrooms have been dealing with limited resources as a result of job loss and budget cuts for several years. The recession has not improved that situation and creates more pressure for journalists to produce more content with less resources. Public relations helps meet that need for content by delivering story ideas, research, subject matter experts and resources.
So while it is not an ideal economy, it is an ideal time to invest in public relations.
Joanne Michael is an Executive Vice President at Domus, Inc., a marketing communications agency based in Philadelphia. For more information, visit http://www.domusinc.com. For new business inquiries, please contact CEO and founder of Domus, Inc. Betty Tuppeny at email@example.com or 215-772-2805.