Spoiler alert. No. No, it’s not.
Please forgive the clickbaity headline. What we actually mean is more along the lines of, ‘Do you think PR is too risky to invest in? And if so, why is that? And what risks TO your business are you overlooking when you’re in that risk mindset?’ But that’s not a very catchy title.
Here are a few simple questions to get you thinking and even chatting amongst yourselves. In true Team Rev style, these are based on genuine conversations we’ve had with prospects (who are now clients) and are things we ask people all the time.
What would happen if we Googled your franchise?
And by that we mean, what do your prospective franchisees and customers find when they do their due diligence. Are they met with pages of brand owned and sponsored content? As we all know these days, if you pay for advertising space, on your own channels, you can pretty much say what you like. Most buyers therefore take this information and any associated claims with a pinch of salt. Or do they, instead, find a healthy mix of positive, compelling and valuable third-party endorsements (also known as PR)? News articles, case studies that have been pitched into the media as part of relevant features, thought leadership pieces and expert guides. All these things, when placed in local, regional and national outlets – whether that be B2B or B2C focussed, build trust and credibility for your brand. Essential for converting any prospect.
How long does one ad last?
A week? A month? Depends on the issue runs of the outlet of course but the point is, once it’s gone, it’s gone. And how often would you dig out a previous advert to show to a prospect in the hope of inspiring them to buy? You don’t have to answer that. PR in the form of press coverage though – now that’s something else altogether. That takes on a life and a longevity of its own. Especially if you use it well. Shared, linked and sent to your pipeline, media coverage is the ongoing social proof that you do what you say you do. And that you do it well. How valuable is that?
What PR activity are your competitors doing?
And even more importantly, what impact is that having on your brand if a prospect finds their content during due diligence. But not yours. What’s that costing you? What does even one lost franchisee cost you?
None of that is meant to sound ‘doom and gloom’ – it’s meant to make you realise that, whether in-house or via an agency, you should be doing PR. The value to your business is too great, and the risk of not doing so, is too large. The great news is, it’s really easy to get some activity going. We have lots of helpful blogs on here for everything from how to write a press release to the best ways to engage with a journalist. If you’re pushed for time or don’t know where to start, then we’d love to help you. But most of all, we’d just love you to do some PR!