Running a business involves putting out a great product or service -- but many products and services may not succeed due to a lack of infrastructure, planning and attention paid to the minutiae of day-to-day operations.
One crucial aspect of business development is obtaining press coverage through a public relations campaign, done either in-house or with an outside firm. Valuable press coverage can be the answer for a variety of challenges, whether your current goals include building your company's credibility, attracting investors or hiring top-flight talent.
As a young company, how do you know when to put your PR plan into motion? And what will the ROI be from the time you dedicate to getting your name in print (or on television)? Here are the top five benefits of having a professional PR campaign:
1. New, impressed investors
Possessing a persuasive business plan is key to impressing potential investors. However, a great feature in a premier publication is sure way to a demonstrate your company's credibility. Whether written up in an industry trade journal or a major national outlet, knowing that an unbiased outsider found your company compelling enough to write about may make your company very attractive to invest in.
2. New clients and increased business
In times of both economic boom and bust, client retention ebbs and flows. Sometimes the well runs dry just when you need the business, or you need that extra push to meet your quarter quota. Even in industry-related trade journals, readers tend to tune out advertising and tune in to content. Seeing your company's name on the editorial pages as opposed to the paid advertising section can be the difference between a client flipping past you and choosing to do business with you.
3. High-end talent
Having too much business is one of the best problems a company can have. This may be a sign that you may need to expand your company's operations to handle incoming clientele. Potential candidates may read publications geared toward your industry, and a strong write-up about your company is likely to capture their attention. Talented people may designate you as a desirable landing spot.
4. Increased credibility
Whether you're looking to get noticed by larger companies for a potential buyout, or perhaps to make some acquisitions yourself, increased credibility is a must. Being featured in the press - especially in this day and age, where social media outlets can distribute your articles across the entire spectrum of Internet users -- allows you to leverage this attention as support for your cause. Create a press page on your company's website so you can display your success in the press to viewers.
5. Improved SEO
When people search for your company, it may get hidden behind dozens of unrelated pages that happen to share a few choice key words - lest your new enterprise technology firm appear below someone's recipe for cranberry sauce and an old Xanga page. Having a greater online presence via multiple write-ups on different, oft-visited sites will improve your company's search engine optimization, helping you jump to the top of the search results page, making your company appear more professional.
Overall, a great PR campaign can do wonders for your business. Whether you're just looking for new customers or finding that your company lacks the credibility of your rivals, seeing your name in the paper or hearing it from the mouths of respected television anchors is a great solution. Let's not forget that it feels undeniably good to see your company's name in print. Take my word for it.