Why will the PR market grow by 10% in 2021? Because it works!
PR plays an incredibly important role in your business because it develops the top-of-mind awareness you need to take on your competition. At its core, a good PR strategy earns people’s attention and creates favorable conditions for your content, marketing tactics, and social media efforts to succeed.
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The public relations market continues to grow. In fact, it’s expected to grow by over 10% in 2021! And, the mortgage and real estate industries are investing more than ever in public relations.
This is significant.
PR plays an incredibly important role in your business because it develops the top-of-mind awareness you need to take on your competition.
It creates an undeniable competitive advantage for lenders, real estate brokerage firms and many related technology and service providers, connecting them with their target audiences.
At its core, a good PR strategy earns people’s attention and creates favorable conditions for your content, marketing tactics and social media efforts to succeed.
The primary tactics included in a strategy would be press releases, award nominations, speaking at events, conducting interviews with the media, securing press coverage on your company, getting a feature article published that highlights your expertise and brand mentions in social media.
How great PR helps your ability to build your business
By using these tactics, you will pave the way for your marketing to be much more successful. The tactics are designed to help…
- Build positive awareness with your audience.
- Establish your credibility.
- Share your values.
- Enhance your website SEO (search engine optimization) efforts due to more content about you on the internet…a natural outcome of a great PR strategy.
- Reinforce your marketing messages, adding to their visibility with your target audience.
In addition, PR assists with the recruiting and retention of great people which will help your business grow!
What are the tenets of a modern PR strategy?
In the old days, PR was referred to as “spin” and it was also said that “all PR is good PR.” However, in 2021, nothing could be further from the truth. PR cannot be “spin,” which is the act of misleading and manipulating public perception.
Nor is all PR good PR in this time we find ourselves in where people and companies can get “cancelled” for the slightest misstep by self-righteous, hypocritical virtue-signalers with their own agendas.
Both can be detrimental to a business and lead to, at the very least, temporary financial hardship.
Today, PR needs to be grounded in authentic communications and activities that lay a positive foundation for, and reinforce, your marketing messages.
A modern PR strategy should accomplish…
1. Tying together PR and marketing in a way that ensures their interconnectedness and reinforcement of each other.
3. Creativity that brings people together with events online. Even though the economy is opening back up, online events will not completely disappear. They allow people who can’t attend live events to still participate.
4. Better pitching/pitches. Did you know that 57% of top-tier publishers receive between 50 and 500 pitches per week…and that only 18% say they “always” read pitches (Fractl)?
What publishers don’t like are pitches that are irrelevant, boring or too self-promotional. What publishers love to see are pitches backed by research (Pressfarm), photos, videos, infographics, and great subject lines.
5. Content strategy. Publicity doesn’t only come from the media anymore. In the old days, it was impossible to get noticed by your target audience without the media. With social media platforms, it’s now easier than ever as long as there’s a good understanding of how the platforms work.
6. Public speaking opportunities.
How do you create top-of-mind awareness and build your business with PR?
Public relations is not a direct response activity. Rather, it is a discipline that helps raise awareness of your company in a positive way among your target audiences. This enhanced awareness is valuable for reinforcing your corporate messages and marketing, making them more believable because the results of PR are earned, not paid for.
Awards are earned. A byline article is earned. A speaking engagement at an event is earned, and so on.
Here are four examples of PR results that will enhance your lead generation and ability to close new business:
1. Get published in key media outlets: If your company’s president, CEO or spokesperson is asked for expert commentary or writes an article for a key media outlet, that will help your search engine rankings. This is especially true if there is a link to your website included within the piece. But, even if it’s not included, Google can still view mention of your company within the piece as an implied link so you still get the benefit.
Getting published also helps elevate your brand in the minds of those considering working with you. It provides a way of differentiating your company and showing leadership.
2. Get on a discussion panel or speak at a conference: When you’re asked to speak at an event, whether on a panel or as a keynote speaker, this provides for a ton of marketing and other promotional activities leading up to, during and after the event.
3. Leverage owned media: What better way to promote yourself than through your very own media channels? PR is not just about getting the word out through journalists anymore.
When you write a blog post, white paper, case study or design an infographic, shoot a video…these activities can all lead to an exponential amount of exposure once you publish them and start promoting them on your social media channels ─ especially if you use the paid ad platforms. PR pros need to have well-rounded social media expertise to be successful in today’s world.
4. Leverage your happy clients: Your clients are a rich source of PR juice. When you have a happy client, ask them for a video or written testimonial speaking to the quality of your service, your business and ability to meet their objectives. This serves as a great case study and endorsement of your brand.
Public relations plays an undeniably important role in your business. It paves a pathway for your marketing efforts to be much more successful since your exposure in the media must be earned. This gives you many advantages, including enhanced credibility, higher search engine rankings for your website pages and much more.
If you would like assistance with your public relations efforts to enhance your lead generation, contact us to schedule a free consultation.