Credit Crunch? Time to try PR
12
2008
Given all the talk about the credit crunch – and we are now experts on this through our involvement with our client Leeds University Business School and the Credit Management Research Centre – it has been curious how busy we are now with new business enquiries.
The ones we can talk about include:
- Prune Juice – building the profile of major US brand in the UK. We second that motion.
- Wooden bicycles – eco-friendly for the middle classes.
- Someone trying to sell their house via a raffle – need to sell 5000 tickets at £50 each. From a PR point of view this has been done before.
- Food support organisation.
- Major city centre £350m development.
- Training programme for SMEs nationwide
- Christmas illuminations company.
- Legal commodities company (no – I don’t know what that means either).
- Specialist in corporate recovery – good one for the credit crunch.
- Equestrian supplies company.
This raises an interesting question: given that we are told that the economy is in a downward spiral why are so many companies and organisations spending hard cash on PR to support their marketing plans?
It could be that traditional advertising is no longer cost effective or that organisations see PR as a cheaper option. We would argue that PR is just one chess piece in the bigger marketing mix and is potentially the most effective.
However, the world has changed with Web2.0 (most of the advertising spend is now going to the internet and social networks) and PR – if done properly – can play a role in that too. We will be pitching that idea to our potential new clients.
Having analysed our recent KPIs for clients it is surprising how far we exceed their expectations on what we can deliver and clearly justify the money they are spending with us. It’s bloody hard work – but GREEN colleagues continue to deliver.
In spite of recent news of the demise of Poulters : - ( and redundancies at Yorkshire’s largest PR agency we think the future looks quite bright for our industry.
And if we pull in just 50% of the potential new business we will be happy to deliver for our new clients.
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Comments...
#1 Chris Moran
Nice writing style. Looking forward to reading more from you.
Chris Moran
#2 Matthew Watson
Five hundred tickets at £50 would value that house at £25,000. Surely that can’t be right. Is there a zero missing?
Interesting idea though. Better odds than the lottery?
#3 Ian Green
Matthew - well spotted and yes a zero was missing! Blog corrected. Say hello to that nice Mr Waddington for me.