Friday, August 19, 2011

Being Successful in an Economy that’s Not: How PR Can Help reported this week, “As political leaders deal with growing investor fears that the country may relapse into another recession, PR agencies have seen a short-term uptick in corporate client activity related to navigating economic volatility.”

In this time of economic uncertainty, a business must relay a message of certainty to temper fears. Regular communication to stakeholders, customers, and potential customers is
vital, and reaching out through direct mailing, online, and through media mechanisms shows key constituents that you are still alive and that there is still positive movement in your company.

News articles that announce corporate achievements and human resource growth, a once a month e-newsletter, a corporate representative as guests on television shows or radio broadcasts, and meaningful social media efforts contribute to what we call “TOMA” or Top of Mind Awareness and convey fiscal health.

Another way to utilize public relations in a sour economy is in creating a crisis communication
plan to manage image and messages in the event that your stocks do slide. While most
shareholders will automatically hit a panic button, a crisis communication plan will help them
slow down and will encourage them to contemplate a future recovery instead of dwelling on the

The heart of public relations is building and maintaining meaningful relationships with
stockholders and customers that will weather the ups and downs of economics. To maintain
these relationships, investors must know that you are as invested in your own company as they
are, which means reaching out to beef up resources in order to remain viable and visible. Hiring a solid PR firm will actually upgrade your business during an economic downgrade.

How is your company strengthening its resources in this challenging economic time?