We see it everyday, articles about businesses in the local paper, internet news sites, or industry publications. But why do companies bother doing interviews and building relationships with reporters and media experts? Because a business news story is worth approximately seven times the value of purchased advertising!
That's an amazing number, but getting an interview or story in the news isn't necessarily "free." It takes time to build personal, ongoing relationships with people in the media, and many small businesses don't have the time or resources to devote to such activities. That's where marketing firms and public relations professionals often fill the gap for small businesses.
In the long run, however, it is always worth it to be considered an expert in your industry, and be available to reporters who are often under time constraints for their articles. Strive to be the "go-to expert" that reporters can count on!
Having your business in the news also increases your credibility, since news stories have a huge impact on a company's reputation. Readers often think that "anyone" can buy an ad, but only leaders and experts are quoted or featured in news stories.
A strong relationship with the media, whether it's through in-house efforts or through a marketing company, is a great marketing tool. It requires a significant commitment, but it also differentiates you from the competition and can boost your company's image to the rest of the world. Remember, everytime your business is in the news, you've created a seven-fold "bang for your buck" in your advertising efforts.
Lauren Hobson is the Editor of Biz Talk Newsletter, a free monthly publication designed to provide small businesses and non-profits with tips and techniques to help them make the most of their web sites and marketing efforts without spending a lot of money. Biz Talk is published by Five Sparrows, LLC. Visit us at http://www.fivesparrows.com or subscribe to Biz Talk at http://www.fivesparrows.com/biztalk.htm
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