The Power of PR PR Packs a punch during the credit crunch

PR PACKS A PUNCH DURING CREDIT CRUNCH

Carla Wessel

During the much documented “credit crunch”, franchise owners -  just like any other business owner – will be looking to keep their business operations fit to face the challenges of the current economic climate.  There will inevitably be cutbacks on what is deemed to be unnecessary spending, and budgets will be tighter than in previous years as the knock-on effects of a more cautious franchisee prospect take their toll on the businesses.

With many companies facing a lull in franchise recruitment, franchise owners need to take the appropriate measures to ensure their franchise proposition is fully equipped to brave out the storm.

Now is not the time to cut back on all marketing activity.  Consistent franchise recruitment is at the heart of all successful franchised businesses and although few franchise owners will expect to hit record numbers this year, it is important to maintain a presence in the crowded franchise market place.  Equally, it is important to maintain the flow of messages to the core buyers of the franchise service / product – since it is the franchisors’ assumed rapport and understanding of its target market that, for many franchisees, proves the most potent catalyst to invest in a franchised business.

 A withdrawal of all marketing activity will cost your business dearly.  Marketing comprises a drip drip feed of messages using a variety of communication vehicles.  It might be possible to turn the pressure down but it is still important to maintain awareness levels so that when the business climate begins to perk up, you are able to simply crank up the volume.  Expect your business to suffer if you choose to opt out of all marketing “noise” and hope to reactivate your marketing campaign following a void of silence.

One of the most influential – and cost effective – marketing tools to consider during these times is PR.  PR offers your business an affordable means of maintaining a presence but with the added kudos of implied editorial or opinion former endorsement.  So when a franchisee or business prospect, stumbles across your franchise via a recommendation from a journalist or key thought leader, the credibility of the message is much stronger.  This is especially relevant during a period when the decision to buy is further hindered by the uncertainty of the current economy – third party recommendation plays an even more vital role in the decision making process.  Unlike advertising, PR can be employed cost effectively to hit a number of different targets.  Whereas creating a new ad for a variety of publications will incur additional costs in advertising, in PR terms, the tailoring of a news release to cater for a number of different sectors will be relatively inexpensive.

But perhaps one of the most persuasive arguments to continuing to invest in PR lies its undisputed ability to help build your company’s / brand’s reputation.  Whilst a reputation can be shattered in a matter of minutes if a crisis occurs and is not handled responsibly, establishing a company / brand’s  good reputation only happens over a period of time.  Maintaining the building blocks that are vital to the construction of your company / brand’s future reputation is essential.  Without it, expect your business to crumble.

Carla Wessel
Blueberry Communications
Tel 01227 700 175/ m 07970 252566