What is Public Relations ?
Public Relations or PR is a set of techniques or strategic communication process that eventually builds mutual relationship or understanding between an organization and public.
The relationship is beneficial for both the organization and public. It is a way of communicating. Here, the organization and individual communicates with the public and media. For this purpose, a PR Specialist is appointed within an organization. So, Public Relations is a trust building, less expensive, important and language using
product where media controls final version and gives third- party validation.
It is a practice of increasing awareness about company or brand among the public. Also, it is a form through which the information is disseminated among media and public.
The objective of PR includes maintaining brand image, and putting positive impact against all the odd and negative events so that the effective result is always positive and with minimized breakouts.
PR is important for any company’s success but it is especially important in case if a company is listed and its shares are publicly traded. The price of stock will increase itself when the company has a good brand image and good public relations i.e. the public’s confidence in company or brand.
For all of this, PR Personnel is responsible. He/she is responsible for creating and maintaining the organization’s image.
Advantages of Public Relations
PR is essential for both organization as well as their public. Some of the advantages of PR are as follows:-
1. Increased brand awareness
One of the most important aspects of public relations is to enhance and increase the reach of communications and marketing strategy which eventually generates increased brand awareness among users.
As the PR communicates a brand, product/services and company’s future growth ideas to ultimate user, it creates high attention of media.
2. Increase in brand’s credibility
When someone speaks positive about the brand, it directly creates good image of the brand which leads to credibility.PR gives more credibility among the consumer market than advertising.
However, advertising is perceived to be more promotional event. Here, the related
content seems to be more authentic, realistic and informative. So, publicity through Public Relations gives more credibility.
3. Attract target market
A good PR strategy is advantageous when you are in need of collecting funds from secure investors. Here, the right media will help indirectly in attracting investors whether venture capitalists or equity shareholders. In a crux, it is much beneficial, easier and helpful approach to retain and attract the target market.
Just publish a well-written and sober article describing the brand, product or service provided by the company in a magazine, it will be more useful as compared to an advertisement.
4. Provide added value
PR can provide add value to the product offerings which can help in differentiating you and your competitor. By increasing visibility of product/services, personalization of brand, raising your profile, building strong relationships, managing your reputation, PR can add value.
It can also add value by assisting in sales process and managing clients.
5. Short and long term lead generation
An effective PR helps to develop good reputation and credibility of company’s brand, which gives the benefit of new leads to market level.
The reason is that a good PR strategy creates discovery and this is possible only when there is an appropriate give and take of right messages and calls-to-action between the sender and receiver. There may be short term or long term leads.
6. Builds brand image
PR provides your entire business towards growth and greater yield of success. As said earlier, PR can create a good and positive brand image of your company in the mind of the outside users and consumers.
A great brand image is the result of successful business, which will be received by investing hard work and it can never be purchased. It helps in shaping all the aspects of business and creates a positive value to the brand.
7. Builds goodwill
The PR Specialists invest their skills in maintaining and fostering a good brand reputation in the form of goodwill over time. Goodwill, reputation and brand image is not a piece of paper or any small item which can be purchased from the store or which can be received from public within a day or a week or a month, it needs time.
It is not easy for the company to make customer or public trust them overnight. For truly trusting the company, the outsiders will take time. PR is one of a key tool for managing and maintaining long term reputation of the company.
8. Elevates media relation
The aim of PR in marketing segment is to ensure that the relationships and connections between the company and the media agents are building. It is obvious for a company to maintain good relationships and connections with those media persons who are engaged in sharing your company’s future targets and stories to the consumer.
The company’s leaders or assigned professionals should provide frequent and worth sharing content about their business to the media who is more focused on your industry, so that the useful content and information can be disseminated among the public.