Insights

Two cents: PR talk

Our company is in the international real estate investment business. The newly hired PR Manager is pushing for more publicity and mass communication. She believes that we can attract more investors by having a stronger presence. We’ve been doing well without all that. Do we need the additional expenses?

It depends. Is your new PR Manager spotting an existing or upcoming problem related to your organizational reputation? Maybe you’ve recently had an internal scandal or major management change and she wants to reaffirm that your business is solid. It’s possible that your Business Development team is looking for ways to reach more prospects for a soon-t o-be-released product from a different target audience than your current customers. Perhaps you have exhausted your existing customers with so many cross investment opportunities and you need some new blood. Sometimes, newly hired managers want to make changes to show that they’re doing something different and new that’s much needed, but wasn’t done until they joined the organization. Which one is the real reason? You need to find out.

Assuming that having a stronger presence is strategically needed, mass communication and big budget spending is not necessarily the only way to reach your goals. The focus is on reaching a specific target audience with a certain profile that qualifies them to be profitable customers for your business; so, study this segment’s demographics, lifestyle, behavior, and mindsets to design tactics that target them at the right places, the right times, and in the right frame of mind. If your company needs stronger presence, it’s with a specific audience not the entire market. Corporate communication is not a popularity contest…and that’s just my two cents.