Back
PM Forum - Dublin
PR In a Downturn - How to Win Friends and Influence People
In an economic downturn, when marketing budgets are under pressure, one might imagine that potentially 'fluffy' activity like PR would be one of the first things to be cut back and there is certainly some evidence to suggest that some companies are taking this approach. However, with a more strategic approach and a little bit of innovation, PR can be a vital (and cost-effective) part of a marketer's tool-kit to help a professional services firm ride-out the downturn.
One of the features of PR in a downturn is that the amount of space devoted to print editorial can shrink, in line with declining spend on advertising, while radio as a medium, really comes into its own. At a recent PM Forum event in Dublin, Anton Savage (The Communications Clinic) suggested that this is an ideal time to up-skill spokespeople within a business so that they are ready to participate in media debates when the opportunity arises - just look at the emergence of Conor Faughnan as 'Mr AA Roadwatch' in recent years as well as Ivan Yates - pundit, political commentator and all-round expert on just about everything!
The motivational impact of an active PR agenda can't be underestimated. If a CEO or business leader is out in the media, delivering credible commentary or insightful analysis on issues, there is an inherent 'feel-good' factor for colleagues and employees - not to be lightly dismissed in the current environment. Padraig McKeon (Drury Communications) suggests that is critical for marketers to have the systems in place to ensure that PR is leveraged to a business's internal audience - whether that means putting media interviews up on an intranet or building it into internal communications, making staff aware of a PR 'win' is one way to build positive feeling internally.
An economic downturn turns the media spotlight onto certain topics - all of a sudden the general news media can't get enough of banking recapitalisation, CFDs, corporate governance...none of which would have been top of the news agenda this time last year. Jacqueline Hall (Political Communications) cited the example of the recent Grant Thornton ISEQ Review of Corporate Governance as a timely piece of research that responded to the news agenda with an interesting piece of analysis, pointed to well-founded conclusions and was leveraged effectively by the company, to indirectly take a swipe at its larger, more established competitors.
The business community will be the ones to drive the economic recovery and in order to do that, it's voice must be heard - loud and clear and offering solutions to the crisis. A focus on PR is a must for businesses who want to play their part in driving the recovery.
Martha Kavanagh
Drury Communications
Back
