Marketing your company’s products and services is not as easy as it used to be. In the last year alone, several new strategies have emerged, from influencer marketing to social media advertising. Thanks to these new marketing methods, brands have a lot of options. However, the expansion of options has also made it more difficult for brands to decide which is best.
One of the biggest challenges entrepreneurs often face is deciding between traditional public relations (PR) and the hottest marketing trend for the past 2-3 years: influencer marketing. At first glance, the two methods are surprisingly similar: both involve promoting your brand/product through a different source, both involve reaching outlets and creating leads, and both can help grow your business and fan base.
Let’s take a look at both options in a bit more detail.
Public relations is defined as “a strategic communication process that establishes mutually beneficial relationships between organizations and their audiences”. Simply put, Financial PR makes connections between a brand and different media.
PR professionals make these connections by building relationships with media representatives in these bodies. They then send product presentations and article ideas to the appropriate recipients in the hope that the media will pick up the article and generate publicity for the brand or product.
The great thing about PR is that it has unlimited potential, especially in today’s world of social media. A story about a product or brand can be shared hundreds of times, go viral, or cause a stir on the internet with a well-placed message. The downside to public relations is that nothing is certain. Yes, your brand can skyrocket after a great media placement, or it can take two years for it to position itself.
In the case of public relations, the media have it all in their hands. These journalists, editors and editors decide what they want to talk about and what products and brands they want to be associated with. It is therefore almost impossible to guarantee placement in specific outlets.
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On the one hand, influencer marketing is a guarantee, but it also comes at a price.
When working with an influencer, you have a lot more control over when, where, and how your product/brand appears. You can go to specific influencers and ask them to promote your product in a certain way. Once you’ve signed an agreement with an influencer of your choice, your product is guaranteed to appear on their channels. You get this guarantee because you pay for it.
Influencers can charge between 500 and 100,000 euros for a sponsored article. Influencer marketing should be seen as another form of advertising. Just like you pay for print or digital advertising, you pay for an item.
But with influencer marketing, you get what you pay for. If you accept a sponsored post, you receive a sponsored post, and that’s it. In PR, on the other hand, if a reporter likes your product or if an article about your brand is popular, they may want to write about you again in the future. For influencers, repeat posts (at no cost) are relatively rare.
Which One Is The Best?
Both financial public relations and influencer marketing have their pros and cons. Choosing the best solution depends mainly on what your brand is looking for.
If you want to raise awareness and promote your product, public relations is the way to go. In this case, it is less important to know which media outlets specifically cover your brand topics or promote your products. It’s always good to stick to your goal, but your goal isn’t to work with a particular influencer. If your goal is to work with a specific influencer, influencer marketing is clearly the best option for you.
PR is also a good choice when the time is not urgent. PR is a marathon, not a sprint. Sometimes it takes months to see results. If you’re willing to put in the time, PR can bring incredible benefits to your business. However, if you want your product to be featured as early as next week, influencer marketing is your best bet. As you pay for placement, you have a lot more control over when your product is displayed.
The ultimate goal of PR and influencer marketing is to promote your product/brand. Choosing the right advertising for you can take time, but one thing’s for sure: Advertising, whether it’s PR, influencer marketing, print, or digital, is a critical part of growth. of any business.
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