PR is crucial: Build your business now for growth and strength

During the economic shutdown caused by the global COVID-19 pandemic, most businesses are sailing uncharted waters. It’s a time that feels familiar due to economic downturns of the past, yet very different due to the controlled, systematic shutdown of society across the country to prevent the spread of the virus.
 
The economic impact, though it seems necessary, cannot be ignored. Businesses, especially small businesses, are determining how to react to this new sudden circumstance. It begs the question, what do I do first to survive, and second to grow my business?
 
Public Relations (PR), along with your marketing efforts, can provide some of the smartest ways to succeed. Smart businesses will use time like this to increase their presence to become stronger and more competitive – specially prepared for the end of the crisis. For example, Maloy PR is offering its PR services with three new discounted price packages tailored to help businesses get through this difficult time. A strategic move to make it easier for small businesses to utilize PR in their efforts, while frankly, helping Maloy PR maintain and grow business as well during this time
 
Here are a few reasons to maintain or even increase your public relations and marketing efforts.
 

1. This is not the time to cut PR and marketing budgets. It is an essential marketing principle that those who maintain or increase their PR and marketing budgets outperform those who cut. Whether your customers are B2B or B2C, they want to know they are working with dependable brands. Retaining your PR instills confidence, can help maintain or increase your business and makes you more durable at the end of the crisis. 
2. Focus on the positive, not just the negative. Often during economic downturns, businesses need to report bad news such as layoffs, illnesses caused by a coronavirus, revenue drops, adjustments to earnings forecast, and others. But there is also the opportunity to report great news. For example, small businesses across the country switched their business model midstream to help fight the pandemic by manufacturing protective masks, hand sanitizer, or other personal protective equipment. Communicating this news brings hope and optimism to our communities and positions your company as an active participant. One of my favorite companies, Dearborn Denim and Apparel in Chicago, did just that. To help people protect themselves and others from the virus, to keep their employees working and their shops going, they began making washable cloth facemasks right alongside their line of denim jeans. This is an excellent example of positive news. 
3. Thought Leadership and Expertise. It’s not all about promoting your company, though that certainly is a benefit. Thought leadership and expertise communicated during a time of crisis can be invaluable to your business and your community. Silicon Slopes, an association of high-tech companies in Utah, wasn’t about to allow a lack of testing infrastructure slowdown data collection necessary to stop the virus. Led by Domo’s Josh James and other tech company leaders, Silicon Slopes partnered with the State of Utah and, within a matter of days, doubled, tripled, and continue to increase virus testing locations throughout the state. It is a remarkable example of the private and government sectors working together to solve community problems. Communicating that leadership was vital. The point, your company may have many opportunities to speak as experts on a myriad of topics. 
4. Keep your loyal customers up to date on your products and development. Apple, known for its significant stage productions to launch new products, finds itself in a new world with new rules. Yet, the company still must develop, launch, and sell its popular products, including the iPhone. As a result of the coronavirus economic and social impact, Apple recently launched a major new iPhone – iPhone SE – with a press release. As a brand, Apple is one that can’t make any move without extensive media coverage. But the fact that Apple remained sensitive to the need to exercise global social distancing not only communicates a new product but promoted its global citizenship. 

We currently live in difficult times. The difficulty will undoubtedly pass, though it is hard to tell when. Even so, this can be a time of optimism and growth; one public relations can and should play an active role.