Public relations is an important part of modern commerce, but it can be difficult to wrap your mind around exactly what it is that a PR firm can do for your business. Rest assured, PR plays a pivotal role in many aspects of business, because it’s the responsibility of PR representatives to address the press and, by proxy, the public on the behalf of businesses. Here are some important aspects of PR you need to know.
One of the most important roles of any PR firm is to issue press releases on behalf of their clients. Press releases are written statements that are distributed to press outlets in order to make a formal statement to the public. This serves a number of purposes, most of which relate directly to generating favorable news for the client. For example, an accounting firm stands to benefit from news about its strict adherence to federal regulations like ASC 606. Because this regulation is fairly new, accountants that have a firm grasp of the requirements will be in higher demand. Failing to comply with federal regulations, or doing so poorly, can result in IRS audits or worse, and businesses will be more likely to hire an accountant that can meet these pressing needs.
On the flip side, press releases can also be a potent form of damage control in the event of a controversy. When and if a business encounters public backlash of some kind, it’s common practice for their PR reps to issue a formal statement of apology or clarification to appease irate consumers. It’s crucial for press releases to address these controversies promptly, but it also requires PR firms to compose a calm, collected, and effective message to consumers. This will ensure the best possible chances as making your company’s stance on the matter clear in a way that reassures consumersof the company’s good intentions.
Celebrity and influencer endorsements are a great way to boost the visibility of a business, but working with that kind of talent can be tricky. That’s where PR representatives come in. PR firms can help a company organize endorsements and sponsorships with celebrities and influencers by acting as the go-between for the both parties. PR reps will be able to do the necessary research into the talent in order to determine how best to approach them, and they can get a list of any demands and make sure they get met in order to create an amicable partnership. At the end of the day, this kind of deal requires a different set of skills than running a business does, and PR firms specialize in the people skills necessary to act as a translator of sorts that can make sure everyone involved is on the same page and benefits from the partnership to the fullest extent possible.
Perhaps the most foundational service that a PR firm can provide is market research. Market data is an essential part of creating an effective business strategy, but that research requires a degree of legwork that ultimately necessitates outsourcing. PR reps in particular are trained to provide that data by conducting surveys, among other tools, in order to get a read on the current climate of your industry and, more importantly, your target demographics. By understanding the needs of your potential customers, you can better meet them, and there’s no better way to get that information than straight from the horse’s mouth. In addition to surveys, market research methods include things like interviews and focus groups.
Public relations is essential for maintaining an immaculate public image, because it gives businesses a number of tools with which to tailor that image. PR serves primarily to inform a business of the needs of the market, to establish a narrative for that company, and to find the right faces to represent the business in question, and this guide will give you a better understanding of the hows and whys of PR.