The Economics Behind Hiring a Public Relations Firm

Many companies know that public relations are an important part of business and that a good reputation is key if they are going to continue to grow and sell products or services. Many go so far as hiring a public relations (PR) firm to help them manage their reputation. Not only will a good PR firm help prospective customers see the positive side of your company, but they can produce definite economic benefits as well.

Here are three key ways that hiring a public relations firm can directly impact your bottom line. 

  1. Protection of Sales. The Internet can be a wild and dangerous place, especially when your good name is on the line. Although most customer reviews are helpful, some aim to attack your company or products.  In fact, the anonymity of the Internet means that these attacks have become quite vicious. A PR firm can protect you by increasing the number of helpful reviews while monitoring and addressing the negative ones.  Ultimately, this protects your reputation and your sales.
  1. Reduction of salary costs. A good public relations campaign requires a great deal of time, manpower, and focus. This is especially true in the information age, when more communication platforms and services are born every day. Hiring a PR firm to manage your campaigns saves you money on salaries and benefits, and frees you up to focus on doing what you do best – creating outstanding products and services for your customers.
  1. Speed to Market. A public relations firm is ready to move immediately on any press release, product release, or promotion you may have on tap. While internal PR departments may be bogged down by politicking or multiple projects, a PR firm knows exactly how and when to attack in the 24/7 world of advertising, social media, and internet exposure. This enables you to engage customers and prospects sooner and more frequently, giving you an edge in the market.

In the information age, no company can afford to ignore the public reactions to their products, services, and method of business. Hiring a PR firm is more than having someone spreading good words about you – it directly impacts your bottom line. That’s something worth investing in.

Ryan Yeoman is founder of Capterra, business software resource that helps you find and compare business software. Capterra has over 350+ software directories, from PR software to church management software. Capterra enables you to filter results based on your needs as well as view ratings and reviews submitted by your peers. If you need assistance finding the right software for your organization, you can register online for a free software consultation.