Top 4: What You Should Know About Public Relations

Public relations theory dates back to ancient times, but it is still a modern and essential practice within corporations today. When we think about public relations, the first things that may come to mind are often advertising, marketing, and media relations. Although these all fall under the category of public relations, there is a lot more that goes into it.

What is public relations?

Corporations began practicing modern public relations in the early 20th century. Since then, the role and definition has evolved, and today there are several ways to define public relations. The most widely recognized definition is set by the Public Relations Society of America (PRSA), which defines it as "a strategic communication process that builds mutually beneficial relationships between organizations and their publics."

Public relations is about communicating an organization's missions, goals, and messages to the public. This can include shareholders, stakeholders, employees, current and potential customers, influencers, and the media. 

Additionally, PR involves building and protecting a company's brand and reputation. Folks can do this by drafting strategic messages to place the company in a positive light. They can also protect the company's reputation in an unexpected crisis or negative situation that arises. 

Public relations encompass a broad range of functions. Some of the main types include:

•           Corporate communications

•           Media relations

•           Integrated marketing

•           Social media management

•           Crisis communications 

•           Brand and reputation management 

•           Content creation

•           Investor relations

•           Employee relations

•           Government relations

•           Community relations

•           Client and customer relations

Why invest in a PR program?

Because it is essential to any company's success, and can enhance a brand’s reputation, increase online presence, and grow revenue and sales. An effective strategy will include executing several of the functions mentioned above and delivering impactful PR campaigns. 

Studies show that companies with a good reputation are seen as more favorable to consumers, and consumers often base purchase decisions on how they feel about a brand. Therefore, a great PR and communications strategy can positively impact a company's sales and revenue goals. Since public relations and marketing are similarly related, objectives should be aligned to achieve the same purposes.

What does a PR specialist do?

The BLS reported that public relations specialist roles are growing at 11 percent per year from 2020 to 2030, which is faster than average for all other occupations. A public relations professional can help shape a company's image by building the brand, relaying the company's message to the public, and maximizing positive publicity while minimizing negative publicity. The role of a PR professional is to ensure that the public, especially the brand's target audience, thinks favorably about the company and its services or products. 

An effective PR professional will have the skills and experience necessary to communicate, build trust, and maintain a company's reputation. These responsibilities cover a broad range of activities. For example, a public relations specialist will draft press releases, contact media sources to increase awareness of a company's activities, coordinate interviews with journalists, draft thought leadership articles to place at top tier publications, respond to information requests, draft speeches for executives, create media relations content, and write whitepapers, executive bios, corporate newsletters, and more. 

Four PR strategies explained

Public relations involves various disciplines within itself. An effective public relations professional uses multiple tactics and strategies to achieve their objectives and gain maximum positive exposure for a company. This often includes:

1. Media Relations

A public relations specialist will interact with the media on behalf of the company. Consider us your advocate for getting the attention of reporters, producers, and editors and getting you featured as a resource in their coverage. Media relations includes building relationships with journalists at top-tier publications and securing coverage about the organization. Coverage can be in interviews, featured stories on the organization and executives, thought leadership articles, and earned media. The public is then informed through credible publications that are relevant within the company's industry. 

1. Content Marketing

Content marketing falls under the scope of public relations and works closely with marketing. To tell an organization's story and mission, a public relations professional can use writing to relay the brand's message to the public. Content marketing can be in the form of blog posts, social media content, web content, surveys, and white papers. For the content to be visible to the public, a public relations specialist will use their media outreach and other PR strategies to maximize the visibility of an organization's content. 

1. Thought Leadership

Thought leadership places a company's executives as subject matter experts or influencers within their industry and space. An effective thought leadership strategy can maximize customer engagement, raise brand awareness, and fuel media engagements. Thought leadership also builds credibility for the company as the public and other companies look to the brand as an expert within the field.

1. Crisis Management

A crisis is when any adverse event such as bad publicity, negative reviews, employee or executive controversies, product recalls, or any other negative situations arise. The impact of a crisis can have long-term implications on a company's reputation and bottom line. 

No company expects to find itself in a crisis, but every organization must be prepared to handle an adverse situation when it happens. How a company responds to the problem can make all the difference in bouncing back into good standing with its shareholders, employees, target audience, customers, and public as a whole. Additionally, crisis management is essential to a company's future success. 

Partnering with a public relations specialist experienced in crisis management is critical for businesses to prepare themselves to deal with unforeseen circumstances that can potentially damage their reputation and their bottom line. A public relations specialist will walk you through exactly what you need to say, when to say it, and through which media outlets. They can help spin the problem and change the story's narrative to help mitigate a crisis at the right time, as a delay in responding can harm the organization. 

Public relations covers a broad range of functions and disciplines and can help companies of all sizes and industries. An effective PR strategist will use a variety of tactics to achieve your organization's objectives. 

RJ Walker and Co provides public relations expertise to financial, tech, and FinTech companies. Want to learn more? Visit our contact us page or drop us a line at ryan@rjwalkerco.com.