Everyone knows that during good times, sustaining a company’s brand is important, but during the not-so-good times it’s even more crucial. In fact, it’s even more important than ever for companies to establish loyalty and trust between their brand and their customers during economic troubles. Public relations can be your secret weapon to actually improve your market position and your reputation during a down economy.

1. It’s Affordable

PR is recognized as being more cost-effective than traditional advertising. According to data from Veronis Suhler Stevenson (VSS), a private-equity firm, spending on public relations in America grew by more than 4% in 2008 and nearly 3% in 2009 to $3.7 billion. That is remarkable when compared with other forms of marketing. Spending on advertising contracted by nearly 3% in 2008 and by 8% in the past year. PR’s position looks even rosier when word-of-mouth marketing, which includes services that PR firms often manage, such as outreach to bloggers, is included. Spending on such things increased by more than 10% in 2009. When budgets for other marketing services are reduced, PR is often increased because of its positive ROI.

2. Conversations – and Crises – Don’t Stop with the Economy

No one can ignore the online and word-of-mouth conversations that occur 24/7, in social media as well as in person. PR is recognized as the discipline that is best suited to manage these discussions, including monitoring them for signs of potential dissidence. And speaking of crises – the recent troubles of Toyota and AIG show that crisis PR must be at the ready. The good will “equity” built with consistent PR helps immeasurably when bad news must be communicated.

3. Step forward when everyone else steps back

As other companies pull in their horns, so to speak, and hunker down to ride out the storm, opportunities are created for others to step forward. Those firms who are thought leaders in the difficult times can maintain that leadership position for the long term.

4. Be first in line for post-recession purchases

Tough times don’t last forever. Even though we aren’t buying as much as we used to, doesn’t mean we aren’t thinking about our next purchases. As we begin to see the light at the end of the tunnel, companies that have maintained their PR efforts will be in a better position to take advantage of expanding markets.

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