5 Ways That Businesses Know They Make Money With Public Relations Measurement
There are many reasons why businesses are using public relations to their benefit. Many businesses are realizing how interconnected a good public relations team is to the growth of their business which has many businesses looking to reap the benefits. But how do businesses know how their public relations measurements stand up to the money that they have spent into their public relations endeavors? Here are five ways that businesses know they are making money by public relations measurement.
How Visible Am I Competitively?
This is a tricky one. The competitive visibility that a company has achieved by its public relations plan can be difficult to tell. The easier approach would be to consider where your bottom line would be if your competitor’s PR investments where to overcome your own. It may not be easy to see at first but, the investments in your PR portion of your budget are protecting your greatest investment, your business.
How Many Investors Want to Join Me?
One of the easiest ways to find out whether or not your public relations measurement is rising is if you have investors that are wanting to join your endeavors. Investors only join the companies that they think are financially and morally sound. A good sign that your public relations is doing their job is if investors want to fund your business to fuel your wildest dreams.
How Are My Shareholders Feeling about My Business?
Your shareholders will remind you of all of your faults and praise you for all of your accomplishments. They will appreciate your efforts in placing a positive image on your company. You may intend for your PR to be only for your customers but, you will find that your efforts have touched your shareholders as well. The stronger the public relations message that you send, the more value your stock will gain.
How Are My Recruitments Going?
A company that has a strong, positive image in the public’s eye will find it easier to recruit partners and new employees. Instead of having to work twice or three times as hard to recruit, you will find that the people you want to recruit will be trying to recruit you. You will find that, if you continue making strides in your public relations measurement, you will be at the top of the world.
How Is My Crisis Management?
Many businesses will plan for only good things to happen. PR is a double edged sword which can be great if you have good PR. If your company falls on hard times, your PR might be the only thing that keeps your business afloat. You will also need to devise a plan just in case you have something come out that is bad about your company. You will need to plan ahead so you can put your plan into action as soon as you get the news that someone is trying to deface your company. A good PR plan has crisis management worked into it in fine detail about all the possible scenarios that may arise. It is always better to prepare and not have to use your plan then to not have one at all.