Be sure to keep your name moving. If you become stagnate, it’s the same as moving backward.
A feature story in media outlets such as newspapers, magazines and television can provide you and your business immediate integrity, therefore inducting your brand to the world of success. Building a relationship and staying in front of the media is crucial to the success of any business. Whether it is a launch, a new product, or just maintaining public awareness and attention, media coverage automatically builds trust, retention and credibility in the minds of consumers, while at the same time building brands and key messages. The more the consumer sees your company in the media, the more believable are your key messages. Not only does this keep you and your company fresh in the minds of the public, but also the media when they need a sound-bite or opinion from the expert in their field.
If you think that in this state of the economy it’s best to save your marketing dollars because it wouldn’t make a difference in your business – think again. A down-market is not only the best time to launch a Public Relations campaign; it is the perfect time to become an even stronger competitor. A study of business-to-business companies during the 1981 recession saw that businesses that increased their marketing expenditures during that time saw an increase in sales of over 200% compared with those that cut it out all together. That’s big! We all know that in difficult times such as the one we’re in now, there is less competition in the marketplace, but at the same time – if you think about it – your customer’s needs are going unmet. They want to hear from you to learn how you can make their lives better. PR campaigns send a message that your business is confident during hard times, and that it is not only surviving – but thriving! Sure, as the economy picks up, businesses will ramp up and market again, but those that maintained an ongoing PR campaign during the recession will see that they will have a competitive edge over those just starting to play catch-up.
Bob Dylan said so. “The times they are a changing,” he sang. Though his theory still holds true today, when it comes to whom you’re appealing your product or business, advertisers have historically held to the tradition that the 18-49 market will bring in the your largest audience. For almost 40 years marketers have been obsessed with this segment of our population, and if you were 50…well, you just didn’t exist! Today, however, more than half the nation’s wealth is in the hands of people over 50, who spend an estimated $2 trillion a year on products and services. These are details not to be overlooked. Statistics show that the 50+ segment will undergo a tremendous change as the rest of the nation’s 78 million Baby Boomers turn 50 over the next ten years, causing that segment to increase 25% in size between 2006 and 2016 (from 89.3 million in 2006 to 111.3 million in 2016). And anyway, who do you think earned the money that the 18-yr-old’s are spending? That’s right, the 50-yr-old’s! You said it, Bob, and now it’s come to pass. The times, they have changed.