What's the best use of a $150,000 marketing budget?
Well, you can buy one B&W page in the NY Times and reach their Manhattan circulation only. You can buy a billboard in Times Square, but just for two months. You can place one or two ads in a nationwide consumer magazine. Or you can invest in a comprehensive public relations, publicity and social media strategy and reach millions of people virtually each and every day.
PR has historically been considered to be the most cost effective and efficient communication tool available. Dollar for dollar, it has always outperformed other marketing and communication tactics.
Today, with the addition of social media networking as a key supplement to PR strategies, the communication sky’s the limit … so to speak. We can now extend our reach and frequency to unlimited audiences that would be absolutely unaffordable by reach using traditional advertising media. Proactive PR professionals aren’t resting on their laurels or rolodex of media contacts. They’ve become more creative and are re-developing content into multi-media presentations. Distribution channels have exponentially increased our reach and the infotainment communications are generating two-way communication with the end user audience.
This process fills the information and content void, especially for B2B clients who may lack new products, services, technologies or people.
The end user audience is actually helping to develop and generate an ongoing stream of interesting industry topics to write and talk about. Over time a comprehensive PR program will position you as an industry authority and a source the traditional media will come to depend on.
Now, I don’t want to seem like I’m bashing all advertising media, direct mail and other traditional promotional tactics. I admit there is most definitely a place and need to invest these tools. However, business is business and everyone wants to get the biggest bang for the buck, especially during these challenging economic times.
So if the marketing budget is $150,000 or less, don’t dilute your investment and try implementing everything including the kitchen sink. Concentrate on developing a coordinated public relations, publicity and social media program. This comprehensive PR strategy will produce the most cost effective results and generate a measurable ROI you’ll be happy with.