Kailynn Bowling, ChicExecs Marketing Agency’s Co-Founder/Co-President shares the PR strategies to invest in this year on Forbes blog.
From ad creative to salaries, businesses are planning expenses for the year so they can stay profitable. However, many businesses fall into the trap of overextending resources to paid ad strategies and overlook public relations (PR). Instead of pumping more resources into paid ads, budget with PR in mind first. She explains that paid ads aren’t everything. In 2018, paid ad spending was over $10 billion, and retailers spent a whopping $23.5 billion. Although businesses are spending a ton of money and wishing for good traffic and high returns in this arena, PR actually has more success.
“According to a 2014 Nielsen study, PR is 88% more effective than paid ads when it comes to customer persuasion.”
Consumers typically trust earned media more than general advertising. They find paid ads to be way too self-promotional and product-focused as well as displaying a lack of ingenuity. Word of mouth, customer testimonials and editorial media can have a greater impact on your followers than paid ads. Although they should remain in your strategy, there needs to be a combination of your brand’s own awareness and outside sources talking about your brand. One bonus of budgeting for both: PR isn’t nearly as money-hungry as Facebook ads, in fact, you can implement some strategies for free!
2020 is the year to invest in PR and earned media is the best way to engage with new customers en masse. Its about building real interest in your products and amplifying it with the right tactics. When you dedicate your budget to the right PR strategies, you can build trust with new customers that a paid ad cannot beat.
Read Kailynn Bowling’s full Forbes blog for the right PR strategies that build genuine interest in your brand.