Crisis ManagementPublic Relations

5 Reasons PR is More Important Than Ever During a Recession

By April 7, 2020No Comments

When the storm is over, you want everyone to know that you are still standing. In the case of the coronavirus (COVID-19) and the recession it has created, now is the prime time for companies and organizations to go on the offensive with public relations.

With 20 years of experience dealing with crisis communications and PR during critical times, we at Fort Lauderdale and Aspen-based public relations agency Durée & Company can see through the “clouds” and have enabled our clients who maintain PR during a recession to come out shining ― high above the competition ― when the bad times are over. We have three words: share of voice.

While some may think that a recession is the time to pare back on PR, there could be no bigger mistake when trying to preserve the longtime success of a business or organization. This is when it’s critical to keep up communications and connections with your key audiences and current customers.

When the competition bows out of PR efforts, it’s the perfect time for you to gain share of voice (a measure of the market your brand owns compared to your competitors), make more of the news, and let your target audiences know that you will weather the storm.

PR is one of the most cost-effective, efficient and powerful ways to keep people talking about you during a recession. A great example of this is how during the Great Recession of 2007–2009, Subaru consistently put forth the message “people love Subaru” and continued to tell its “good news story.” At the time, this small company gained share of voice when competitors ditched their PR. The result: Subaru was the only mainstream automaker to have sales increases through the worst of the recession. In 2009, Subaru became the 11th most popular U.S. auto brand, up from No. 19 only one year earlier.

We at Durée & Company are happy to share 5 ways to thrive during a recession:

  • We can’t repeat it enough ― gain share of voice. When the competition has axed PR in a recession, it’s your time to showcase all you have to offer. Tell your story when the others aren’t telling theirs, and you won’t be forgotten.
  • Accomplish more with less. Try new types of campaigns that you wouldn’t have used before. These can involve various digital platforms, brand journalism (building stories and other content highlighting a company or organization’s value from a different viewpoint), and more.
  • Increase online PR. This is a great way to develop relationships with consumers. Start a blog. Write a regular e-newsletter. Participate in online forums.
  • Achieve trust and express empathy with your campaigns. During uncertain times, you want consumers to see your brand as a safe, comforting choice. Develop an emotional connection with your target audiences.
  • Research. Find out what your target audiences are doing during the recession and cater to them. Where are they looking for information? What are their needs?

A recession is your time to shine when it comes to PR. Don’t make the mistake of pulling this much-needed communication method, when consumers need to hear from you the most. Contact the seasoned PR professionals at Durée & Company to help you gain share of voice.

 

About Durée & Company 

Durée & Company, Inc. is an award-winning, full-service public relations, marketing and special events firm founded in 1999. The firm has offices in Fort Lauderdale, Florida and Aspen, Colorado. Durée & Company serves the corporate, agency and nonprofit arenas for local, national and international clients. Services include public relationssocial mediamarketingcontent developmentadvertisingspecial eventsbrandingradio promotions and more. Durée & Company clients include well-known names in businessfashionhospitalitytravelwellness and CBDmarine & yachtart and culturenonprofit organizationslegal and professional services and real estate. Durée & Company is a member of PR Boutiques International™ (PRBI), an international network of boutique PR firms. To learn more, go to https://dureeandcompany.com/, visit Durée & Company on Facebook at https://www.facebook.com/DureeCoPR/, Instagram at https://www.instagram.com/dureecopr Twitter at https://twitter.com/dureecopr or YouTube at http://www.youtube.com/user/DureeAndCompany, or call 954-723-9350.

 

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