Unlocking Revenue Potential With The Power Of PR

Note: This is a reposted blog by our Public Relations Global Network Partner, . For the

Photo courtesy of Pixabay

original blog, please visit here.

Many people understand that public relations can drive reputation, but some struggle to recognize that public relations can drive revenue. More specifically, increasingly, we see PR playing a vital role in supporting the sales funnel, which is inherently more quantitative. There’s a need for education when discussing how PR can drive revenue.

As we talk about on this week’s episode of PRGNPresents, organizations would hardly question the necessity of having an accounting or legal function when it comes to achieving strategic objectives. Public relations should be just as critical to an organization or company’s success and should be viewed as a cost of doing business.

With calls for recession waxing and waning, PR strategies like thought leadership become more and more important. Research shows that 44% of decision-makers become less receptive to sales calls and traditional marketing during economic downturns. Instead, proactive marketers turn to thought leadership to drive revenue and acquire new business.

PR and content play vital roles in managing and accelerating the sales funnel. At the top of the funnel, in the awareness phase where leads are generated, engagement, and the delivery of compelling information are critical. Metrics such as web traffic, page views, bounce rates, time spent on the website, and SEO ranking, all rely on PR tactics. Smart revenue marketers employ PR-specific tracking mechanisms to link these metrics back to PR efforts.

An intangible, yet essential, aspect of PR’s impact is brand recognition. For example, we know we’re doing it right when we hear people say,

Oh, yes, I’ve heard of you.

 

That example is less quantifiable, but brand recognition also can be measured through polling and surveys. Other ways to measure brand recognition is through share of voice in media or on social media.

Moving to the consideration phase, where customized information is provided and product evaluation takes place, public relations can – and should – monitor shifts in online conversations, encompassing positive, negative, and neutral mentions, as well as message frequency.

At the purchase stage handed off to sales, we evaluate leads converted to sales, directly impacting revenue. Finally, customer retention is another essential aspect, ensuring that customers feel confident about continuing your business relationship.

To understand how these pieces all fit together, an organization-wide conversation is important. PR and marketing have significant overlap, and discussions between these departments are crucial. However, it’s vital not to underestimate PR’s role and its support for the overall strategy and mission.

Organizations should integrate PR teams into strategy meetings alongside legal and marketing to eliminate silos and ensure alignment in strategy and in messaging.

 

Alignment between these functions becomes especially crucial when discussing metrics and evaluation. Most well-run marketing and public relations functions start evaluating from the beginning, quantifying aspects like article sentiment and contributor voices. Real-time data tools and dashboards may also ensure rapid response and continuous improvement throughout the sales funnel.

When convincing executives of PR’s strategic value, three important questions can guide the conversation:

  1. What role does PR have in your organization?
  2. Do we have access to your senior leadership?
  3. What are your past experiences with PR, and what strategies have worked or failed?

These questions help uncover biases and set clear expectations for success. While the relationship may evolve, maintaining a consistent “north star” will lead to success.

Integrating PR into the sales funnel may not be something that organizations can implement overnight, if they are unaccustomed to doing so. Sometimes an incremental approach is necessary.  Giving PR a seat at the table and emphasizing PR’s role, especially during crises, can be helpful in demonstrating the value of PR. And, especially during tough times, public relations can drive revenue and accelerate the sales funnel.

If you enjoyed this episode, please follow the PRGN Presents podcast in Apple Podcasts, Spotify, Google Podcasts, or any other podcast app. We publish new episodes every other Thursday. To have them delivered automatically and free of charge, just choose your preferred podcast player from this list, open the app, and click the button to “Follow” or “Subscribe” to the show: https://prgnpodcast.com/listen