The Impact of Media Relations in Small and Medium Enterprises
With the increase in start-up businesses, media relations is one of the best marketing strategies that give you a competitive edge against other entrepreneurs in your niche.
Over the past couple of years, media relation approaches have evolved. However, public relations firms like Marathon strategies were quick to embrace the changes, allowing them to reach far beyond their target audience.
Below are the key benefits of including media relations as part of your marketing strategy for your small and medium enterprise.
Helps in Building Brand Awareness
One of the best things about a good media relations strategy is that it helps in increasing brand visibility among your target audience.
Small and medium enterprises are using positive media coverage to promote their brands. Doing so allows consumers to better connect with the brand and regard it as an authority in its industry.
To build your brand, media relations companies will come up with a customized media database for your target audience. The database will include your location, geographic reach, and target audience. They will garner information about your enterprise from available sources and publish the information on various media outlets.
Attracts Potential Investors
Another reason to adopt media relations into your small or medium enterprise is, it offers you an opportunity of selling yourself to potential investors.
It is highly unlikely that investors will immediately be interested in start-ups and other small businesses in the beginning. However, with a solid public relations plan, investors will be enticed to join your team.
Try as much as can be to remain on media platforms for all the right reasons. Let the consumer know that your product or service is legitimate. By doing so, it will be a matter of time before investors start knocking at your door interested in doing business with you.
Whether you are a start-up or have been doing business for the past couple of decades, gaining customer trust is essential. All brands that have established themselves as authorities managed to build confidence in their consumers, which translated to consumer loyalty.
Most consumers stick to a trusted product for many years and it is very hard converting them to another brand.
Strong media relations can help increase a brand’s credibility. Most consumers are loyal to a specific brand and the same loyalty is trickled down to media outlets.
Day in day out, consumers are looking for confirmation on the authenticity of products. As such, it is important to get a media relations team that knows how to effectively get the word out there and ensure your product reaches its target audience.
As you continue building your brand and investing in media relations, the bond created can come in handy in times of crisis.
When such a time comes, be honest and send out a statement to the media. During a crisis, false statements and misunderstandings can spread like quick-fire, ruining your brand’s reputation.
However, if your company has strong relations with the media, there is a higher chance of controlling the narrative.
To Stay Relevant
We live in a digitalized era where innovations are emerging every day. As such, companies have to come up with various strategies to stay relevant and competitive.
Additionally, consumers get bored very quickly and are always looking for the next big thing.
Media relations offer small and medium enterprises a way to remain relevant. Through Video News Releases, a company can gain both domestic and international coverage, allowing them to stay relevant for a long time.