How to Put Your PR Budget to Work During the Pandemic

When Approach started in 2010, businesses across the country were emerging from deeply uncertain times. Back then, we fielded many of the same questions we’re counseling clients through today. Among them, which proverbial lights should we keep on keep on with finite funds?

Coming out of that recession period, industry data reinforced the trends we experienced personally at the agency: within the broad marketing mix, public relations is the discipline that fares best when budgets tighten.

But why does public relations tend to perform this way? Marketing investments are traditionally among the first to go under the microscope during volatile economic cycles. After all, the marketing arm covers everything from advertising to sales and events to promotions, commanding a significant portion of a company’s budget. However, marketing mix modeling has shown that public relations delivers a higher return on investment when compared with complementary MARCOM activities - even those with higher budgets (Institute for Public Relations). The same report finds that, on average, a fraction of one percent of all marketing investment is allocated to PR.

As a result, practitioners truly maximize the “working” impact of every dollar. This is especially true at Approach, given our 100% virtual model.

The effects of COVID-19 on marketing initiatives are still unfolding, but there’s evidence that most PR budgets are currently holding steady. PRWeek is reporting that 71.4% of in-house communications chiefs say they are largely planning to keep PR budgets intact during the pandemic. Now is the time to ensure your PR budget is working harder than ever for your organization.

The paid, earned, shared and owned media (PESO) strategies pursued by companies under usual circumstances look different than those needed during a downturn. Here are the PR best practices we recommend prioritizing at this time for budget efficiency:

1. Build trust with strategic stakeholder communication.
   The COVID-19 pandemic is evolving rapidly – it’s important to share relevant and timely updates that help audiences maintain a positive perception of your brand. As we navigate stay-at-home orders, Americans are observing how their favorite brands are treating their employees and customers (IPSOS). PR practitioners can help organizations evaluate the potential business impact of their operational decisions and explore solutions that deliver the greatest good. Other sensitive updates, including those around employee health and product or service availability, need to be properly communicated to customers, investors, community partners and potentially the media.  
   

2. Reinforce your expertise and visibility with thought leadership initiatives.
   LinkedIn is reporting a 55% increase in engagement during this crisis, along with more published articles. Users are attempting to launch products and build connections in lieu of cancelled tradeshows. Subject matter experts (SMEs) should regularly share trend pieces, communicate with new and existing connections, and provide insight into how their industry may evolve during and after the pandemic.  A public relations partner can coach SMEs on creating longform content. Another tactic to explore is webinars, which can continue to attract prospective customers.
   

3. Share helpful tips via media relations.
   Non-urgent media pitches are likely a waste of time (and money) for the next few weeks, but earned media relations remains appropriate for some brands, despite the heavy saturation of COVID-19 news coverage. For example, Approach client Vivial is the voice of small business, working with thousands of small business owners to strengthen visibility and relationships with local customers. Earned media is giving Vivial an opportunity to offer timely and meaningful solutions for the many businesses out there desperately seeking help. What stories can your brand share during this time that offer truly practical solutions, assistance or inspiration? If your story idea feels like a stretch, reallocate your media relations budget to another strategy.
   

4. Connect with people while they’re online.
   Social media platforms are filled with activity ideas and unique promotions designed to entertain captive audiences. In one example, the cast of Pop TV’s “Schitt’s Creek” hosted a fundraiser for food banks by collecting donations through GoFundMe while going live on Instagram. Other influencers are sharing sponsored content to inspire shoppers to add items to their online grocery shopping orders. 
   

5. Support public health efforts with custom PSAs.
   We’re actively collaborating with clients, including those in the healthcare and food service arenas, to assess where and how their brand can offer help, which is going a long way with customers. From sharing specific social distancing recommendations for essential brick-and-mortar spaces to repeating state or county-level guidelines, brands are playing an important role in this crisis. Many big-name brands have creatively reimagined their logos and taglines to communicate the importance of flattening the curve.

These and other custom-built strategies can enable organizations to continue building goodwill and authentic relationships with customers.

We’re ready to help you craft a PR plan that’s built for maximum ROI. Reach out to us at hello@approachmarketing.com for your complementary consultation.