PR AGENCY DIARIES: HOW TO MAXIMISE YOUR BUDGET IN A COST OF LIVING CRISIS

So 2023 was the year everything finally caught up with us…a pandemic, the Ukraine-Russian War, climate apocalypse and Matt Healy doing Taylor Swift dirty - coupled with the uncertainty of an election year - all converged to bring us The Recession™ (or something pretty close to it)…

And thanks to cozzie livs we’ve seen the price of everything from fuel to electricity to KUMARA absolutely skyrocket. The economy has simply gone TOO FAR this time and we are not about it.

For businesses, customers are no longer rolling out their dollar dollar bills like when everyone was locked down at home and online shopping to fill the screaming void in their souls. Non-designer belts have been tightened, and it’s hit everyone where it hurts.

While we wait for the return of those halcyon days (the dollar dollar bills bit, not the void-in-your-soul part), what’s the best course of action for your business when it comes to marketing? Should you switch to flight mode and hope you can have a wee snooze on your laurels until the economy lands the plane? Or spend money to make money/put your money where your mouth is etc?

Of course we have something to say about this, and we align with the latter train of thought. We know, it sounds counter-intuitive – but hear us out.

While slashing expenses may seem like a logical approach, connecting with consumers during times of uncertainty is crucial to ensure brands uphold their reputation and don’t evaporate like a case of rosé on a girls’ weekend.

The saying “out of sight, out of mind” doesn’t just apply to the home gym set you bought in 2020 and is now rusting in the garage. It applies to your brand too. Now is the time to invest in maintaining presence and ongoing visibility. If wrapping an AirBus in your brand logo or a similarly-priced 360-degree marketing campaign isn’t on the cards right now, PR should be your first cab off the rank.

While traditional advertising often requires deep pockets, PR is what is going to get you the most bang for your buck right now. So here are our top tips for maximising your marketing budget, while the going is more KMart than Gucci;

1.     Partner with a great PR agency

It goes without saying, but the first step is to partner with a slick PR agency (we know the best FYI). If you’ve already engaged one then you’ve taken the first step. By collaborating with professionals who eat, sleep and breathe the A to Z of marketing dynamics, consumer behaviour and crisis management, you can ensure your brand will reach the right people, with the right message. PR pros excel in crafting narratives that showcase a business’ value propositions and have all the media connections to make hay of what you have to say. Partnership with an agency is not only a strategic investment that safeguards your brand’s reputation, it can also help propel it towards growth as the economic tide turns.

2.     Develop strategic messaging

Your business may have several things to shout about, but what’s the single most important thing you want to say? An effective PR strategy will define your brand’s messaging, identify its bullseye target market and then build out a plan to shape the narrative into something sexy/virile/highly appealing to your audience. In order to truly engage with consumers, you need to speak their language. Is your audience made up of tech-savvy Gen Zs with limited attention spans? Then dazzle them with references to popular apps and social media platforms. Are you trying to appeal to moms and dads? Then focus on topics related to education and family life (and how to get more than four hours’ sleep). Whatever your audience's interests may be, it's important to tailor your content in a way that speaks directly to them. Keep your comms clear, concise and relevant – customers will continue to engage so long as your brand’s voice resonates with them.

3.     Leverage the power of earned media

Ads are everywhere. From the minute you open up your news app or turn on the radio in the morning, your social media feed, the streaming platforms you watch and listen to are all feeding you algorithmic advertising content that has been finely-honed to your tastes after years of scrolling and click-throughs. So much so that we are largely desensitised to the constant bombardment of #ADs. What people do consume though, is news. And public relations is the art of crafting your brand’s messaging into digestible news content. PR cuts through the cutter – we have the expertise, connections and strong relationships with journalists and editors to put your brand front and centre. So as long as what you have to say is newsworthy, then earned media coverage should be shoo-in. Make sure you set KPIs at the front end of your campaign so it’s clear the outputs that are expected - consider metrics like reach, the number of placements (not forgetting to segment the media to cover top tier titles) and inclusion of key messages. Any agency worth their salt will be well and truly across all the movements in media land and able to rattle off names and opps for placements on the spot. Did someone say pop quiz?!

4.     Fuel content creation

Sticking to your content strategy isn’t just a good idea – it’s a must. By dishing out content that’s genuinely useful, educational, and even a bit fun or left-field, brands show they’re still there, still listening and still care about what their customers are going through. This can be via blog posts, press releases, social media content and thought leadership articles. Your trusty PR partner will know what works best for your businesses. They will have a razor-sharp eye on what’s trending, what’s about to trend, and will help you tap into the matrix to craft compelling stories and scroll-stopping content that will have your audience eagerly anticipating your next update.

5.     Harness influencer marketing

Now, more than ever, consumers want authentic and relatable content. It’s time to read the room - nobody wants to see influencers swanning off on private jets and enjoying silver service while they’re slumming it in their Suzuki on their way to the supermarket. It’s important to know the nuances of the influencer space so you can identify creators who are tapped in to the current climate, and whose values align with your brand's, ensuring genuine and organic collaborations that won’t polarise your audience. Beyond that, it can be difficult to know the best mix between paid and unpaid, micro, mid and macro influencers. That’s where PR comes in. Understanding how to reach the right people and balance your partnership investment with budget to boost is best practice, but can be tricky to get right. Leave the job to the professionals and the proof will be in the pudding.

6.     Navigate crisis management

Whether it’s a supply chain disruption, $48 dollar watermelons, a reputational problem or job cut announcements, tough economic climates can bring unforeseen challenges. Trust is a fundamental pillar of any successful business and any “big yikes” news (if handled badly) can send your customers right into the arms of a competitor. If an issue were to arise, PR can help you navigate the crisis, crafting empathetic and transparent comms that address concerns, maintain confidence and demonstrate your commitment to customer satisfaction. As a result, you’ll help mitigate any potential damage to your brand's reputation.

Want to make sure every marketing dollar counts? Get in touch with us.