This insight post is a summary of the original blog post published by Nuffer Smith Tucker Public Relations: 5 Reasons to Invest in PR During a Recession.
Will there be a recession in 2023? And what does that mean for your brand? Here’s some insight from our partners at Nuffer Smith Tucker Public Relations.
When potential profits are at stake, many organizations begin to tighten their belts. When it comes to weathering an economic storm, public relations – and its ability to maintain and grow an organization’s relationships with its most important audiences – is one line item that’s worth investing in long term. Here’s why:
1. Turbulent Times Call for Change Management
Whether facing potential layoffs or delays in product availability, when seeking a positive outcome to unexpected change, communication is essential. PR experts can develop messages and strategies that organizations can lean on to soften the harsh realities of an economic downturn and preserve goodwill.
2. Avoid Being Out of Sight, Out of Mind
Sometimes, winning the game is just about showing up. Lack of external communications during a downturn can lead audiences to overlook a company or brand or — worse yet —assume a company is out of business or has less stability. Conversely, continually communicating with your key stakeholders reminds them of your value and stability and can help drive incremental growth in a less cluttered market.
3. Getting a Jump on Competitors
As budgets shrinks, competitors may struggle to stay top-of-mind among consumers, but companies that continue to invest in public relations can use this time to strengthen relationships with key audiences and customers, when competitors may go dark – an investment in future market share. And there’s data to prove it!
Get the final two points on maximizing impact efficiently and building trust to learn more about why PR is a must during turbulent times in the full blog post 5 Reasons to Invest in PR During a Recession.
