When it comes to marketing your business, ask yourself three questions: What are my marketing goals? On what do I spend the most money to market my business? And where do I focus the majority of my time? Now assess the results you get in return for your marketing efforts, based on your goals.
Recently “Company B” approached the agency about public relations, seeking to create national awareness for their brand and products, grow their email list and penetrate new markets and customers. They wanted to know how PR works, what they need to do to get started, how much it would cost, and what the payoff would be for their company. They were very excited about the potential rewards that come from public relations, but were also nervous about the financial investment. I certainly appreciate this; PR is an investment if you hire an agency, and not every business is yet at a point where this is feasible (which is why I created Publicity Express!).
In continuing our discussion with Company X, the interesting part was learning that they were paying tens of thousands of dollars to purchase lists of names in order to conduct direct mail marketing, as well as exhibiting at various trade shows around the country each year. When we asked if these activities were proving to be fruitful, the answer was a resounding, “So-so.” So-so doesn’t seem like a worthy enough payoff for their investment and time, yet they hadn’t questioned these efforts - or the associated costs - because this is how many businesses in their industry choose to market themselves.
Whether it’s time spent on Facebook or Twitter, attending events, conducting direct mail marketing, or doing public relations, now is a great time to reassess your marketing efforts vs. payoff ratio. If you’re ready to ‘shake up’ your marketing mix to include PR, give me a call, or drop me an email!