Consumer Products PR

What is Consumer PR?

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Consumer PR is the reputation and awareness building brands do to improve their image to the public. From purpose-driven PR to product launches and experiential PR, consumer PR gives consumers an additional positive touchpoint that builds trust, anticipation, and loyalty from consumers. Consumer PR is an effective lever for ambitious brands, particularly during hyper-growth or product launch phases. This is in contrast to B2B PR, which seeks to improve the reputation and awareness of a company within a particular business vertical. Brands know new customers buy faster and existing customers buy more often from brands they can feel good about. Consumer PR can take on many sub-forms of public relations, including:

  • Community Relations: building relationships with community stakeholders.
  • Product Public Relations: Product reviews and placements in consumer publications.
  • Purpose-Driven PR: Proactive values that incorporate social, cultural, and environmental issues.
  • Experiential PR: Opportunities for the public to engage directly with the brand in-person.
  • Integrated PR: PR campaigns that use paid avenues to create media coverage and word of mouth.

Why do companies engage in consumer product PR?

PR is the most trusted form of awareness building. Consumers trust reviews more than any other type of product awareness, like advertising. Reviews can come as online reviews, and even from influencers and bloggers or can come from media outlets. Media outlet coverage is particularly coveted because not only does it have powerful sway, it adds extra brand cache and it sticks around for a long time online. For DTC and e-commerce brands media coverage also improves SEO, a really important ingredient in online sales. Investors also like to see a brand in the media; it provides valuable social proof.

Consumer product PR can be approached from a long-term strategic process or as the consumer PR campaigns during certain times of the year.

Why would companies engage in community relations? 

Anytime a company needs its local community’s support, community relations matters. Sometimes brands want to be good community partners because it makes recruiting for top talent easier. Or maybe they want to expand, and they need City Council approval on a piece of land they’re eyeing. Or perhaps the brand values being a good neighbor to the communities in which it operates. 

Why would a brand engage in Purpose-Driven PR? 

Brands engage in purpose-driven PR for a variety of reasons. One can certainly be to improve their brand image in the eyes of their customers. You will often see purpose-driven brands publish an annual report. Not only does this report track its own progress, but it also provides the public with the progress as well. We tell our clients that strategic purpose-driven PR should be systemic, and externally virtuous, but meaty and measurable.

Why would a brand engage in experiential PR? 

When you think of cutting-edge sports, what brand comes to mind? It’s probably RedBull. RedBull became a household name through events. That’s because RedBull’s brand is inextricably tied to cutting-edge sports. Their support and engagement of some of these sports basically gave legitimacy to the X Games because competitors could finally focus their efforts entirely on their sport. In fact, RedBull created the first international kiteboarding competition. RedBull’s commitment to extreme events and competitors keeps them at the forefront of beverage brand awareness. Experiential events can be expensive, but when you consider the ROI both in advertising dollars saved and PR and brand affinity, experiential events are powerful tools in the consumer PR arsenal.

Why would a brand engage in integrated PR? 

The best integrated PR campaigns use many marketing PR levers to make an impact. An example of this would be Coinbase. In 2022, they purchased a Super Bowl ad that was nothing but a QR code. Millions of viewers stared at their screens in awe that a brand would purchase one of the most expensive ads in history and do nothing but float a QR code across the screen. But that was the entire point. In fact, for many consumer brands, the reason to purchase a Super Bowl is the added PR coverage around Super Bowl ads. Weeks before the Super Bowl, consumer brands release their ads, either to the press or the wider public on YouTube, to ensure their creative ad gets the free press it deserves.

 

Brands that build loyalty and love through PR grow faster and have higher customer retention, and consumer PR improves other initiatives such as fundraising, that are vital to a thriving brand If you’re interested in consumer PR, contact us. We’re a top-rated consumer PR agency.

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Mastering the Art of Consumer Tech PR

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If you’re counting the number of blogs that mention your company’s name to measure PR success, you’re doing it wrong. Rather than using antiquated methods to gauge PR success, you should hire a reputable consumer technology PR agency that can entice consumers while building trust and credibility. Mastering the art of consumer tech PR means tapping into consumers’ imaginations and early adopter excitement.

According to research, companies launch an estimated 30,000 new products yearly. However, a large number of those tech products (around 80%) fail to make an impact. If you want to avoid your consumer tech product being one of them, then hire the expertise of a consumer technology PR agency to ensure your tech product hits the ground running.

What Is Consumer Electronics PR?

PR is the process of anticipating, identifying, and managing public opinion. While marketing is about improving sales for a company, consumer PR is more focused on developing and nurturing the company’s image. Consumer electronics PR or tech PR is the process of maintaining a company’s tech identity online by not just telling a relatable brand story but also providing valuable information on the products and services of a company.

Consumer electronics PR is the art of establishing and sustaining the excellent image of a technology-focused company. A public relations professional’s primary responsibility is to help build and maintain relationships between a business and its consumers.

It frequently means juggling several media-facing initiatives to develop a positive image between the brand and the consumer. The PR expert will also develop lasting collaborations between a tech brand and influencers, journalists, and publications. A consumer technology PR agency can weave a narrative that works in the brand’s best interest by forming a good working relationship with various media sources.

Some other responsibilities of consumer tech PR are to share information by creating and sending press releases or letters to government officials, media houses, and even the public. By doing this, a consumer technology PR agency can help spread the word whenever they launch a new technology product or service that is developed or updated. Time and well-thought communiqué ensure that all stakeholders and consumers are always in the know.

Since the role of consumer tech PR agencies is to help build connections and promote a tech brand, the consumer tech PR staff also attends essential networking events. These events may include conferences, workshops, industry-specific seminars, corporate events, fairs, and even virtual groups to help build a clientele for the tech startup or business in person and via the written word.

Why Do You Need a Consumer Technology PR Agency?

Hiring a professional company to handle your consumer tech PR is essential because they tailor their messaging for effective communication with the target demographic. For instance, even though a consumer is interested in a particular tech product, they will still need to understand all of the features and the technical jargon that goes along with it.

Instead of confusing potential customers with jargon-rich messaging that’s unreadable at best for the layman, hiring the expertise of consumer tech PR agencies can help get the message across without muddling up the message. Forcing businesses and startups to operate in an increasingly competitive environment makes you feel the need for consumer electronics PR more than ever.

Companies operating in the tech niche also use consumer tech PR agencies to announce significant events in the company. These include launching new products or features, essential milestones, new team members, acquisitions, award ceremonies, and industry-related news. PR agencies help a tech-based company or startup convey its values and increase brand loyalty by sharing important events with its users and potential customers. Furthermore, a tech company can leverage the services of consumer tech PR agencies to show off their successes and establish their brand as an authority in a particular sector.

A consumer tech PR agency has the expertise to create buzz whenever a company launches a new electrical product or if they reposition an electrical product or another typical service. Ultimately, it’s all about making your tech company stand out.

With the electronic market booming and launching new tech-focused brands every day, it pays to hire professionals who can help get your brand’s message across. It is where a consumer technology PR agency comes in. The services offered by a consumer tech PR agency can ensure that your customers and potential buyers are always kept up-to-date on the latest technological advancements and products you have to offer.

In short, one of the most far-reaching and cost-effective ways to carry out a PR campaign is to ensure a consumer tech PR strategy covers all the tech products and services a brand offers.

Mastering the Art of Consumer Electronics Public Relations for Startups

As a tech startup, you will compete with multiple competitors for a slice of a particular target demographic. The bad news is simply ensuring you have a functioning product will take longer. For any tech business or startup, backing with a robust PR campaign to ensure your new product or feature launch can make all the difference.

By hiring a consumer technology PR agency that will leverage its rapport with industry-specific professionals, you can ensure the success of a new tech product launch or feature addition.

For instance, it is not unheard of for businesses and startups in the tech space to pitch ideas that focus not just on the product but also on the brand and its founders to pique the interest of the trade and consumer press, along with other vital drivers who will help boost the results of your consumer technology PR efforts.

Tools such as infographics, videos, illustrations, and high-end photography are essential to showcase the various features of a tech product. However, they will only be helpful if you know who to share them with. It is why a consumer tech PR campaign usually includes inviting key influencers and journalists who cover the tech space and can have first-hand experience using your product.

Having authority journalists and influencers use and review the products is a great way to sway public opinion of your tech product. It can also help consumers make more informed decisions. Furthermore, making your tech product accessible in this way can build trust by showing consumers you don’t just care about your product but also their needs. Regardless of your PR needs, hiring the right consumer technology PR agency will meticulously plan and execute the perfect PR activity with a high ROI, whether a trade show launch or an intimate rooftop party.

Hiring a Consumer Technology PR Agency?

Before hiring a consumer technology PR agency, you must make sure they can help establish and maintain long-term connections with industry leaders, journalists, influencers, and media outlets that are technology focused. It will ensure that a tech business or startup can create engaging and entertaining content by utilizing all the tools in its comprehensive toolbox. This includes case studies, thought leadership pieces, and media releases.

Apart from that, a consumer technology PR agency should also be able to provide high-quality strategic advice and crisis management solutions whenever needed, along with an analyst relations strategy. Consumer tech PR is a critical part of companies that operate within the tech sphere. It can help them establish thought leadership and credibility apart from generating buzz surrounding a particular tech product or service. The following points are just a few factors to consider when choosing consumer tech PR agencies;

A Solid Understanding – A consumer tech PR agency must have a good grip on tech-related jargon and all other aspects of the tech industry. It includes having PR professionals with the right experience and skill set to ensure that the correct technical jargon is used and not overused and that all essential features and specs have been highlighted.

Good Rapport – Another crucial factor in considering consumer tech PR agencies is hiring a company with a good knowledge of authority writers and influencers in the tech niche. In short, they should have a long list of reviewers, bloggers, podcasters, influencers, and journalists who can sway the public’s perception of a tech company or startup.

Thought Leadership Initiatives – Understanding the trends, topics, and angles that best resonate with the target demographic is crucial to success. Hiring a reputable consumer tech PR agency will ensure they can create and execute thought leadership initiatives to benefit both the consumers and the users. While many companies within the tech industry tend to publish high-quality thought leadership content relevant to their goals, the requirements of these publications may vary, which is why it pays to hire an experienced consumer tech PR agency with a strong relationship with publications and various media outlets.

If you have (or planning to launch), a technology firm using a consumer tech PR agency can eliminate the guesswork of communicating your brand’s objectives with the average consumer. The messaging that consumer tech PR agencies use is also more relatable since they can share the importance of tech products and features in a jargon-free manner that’s easy for the average consumer to understand.

Message and Tone – Once the industry-specific messaging is created to help build awareness, the PR agency can fine-tune the message to help tech startups and businesses establish trust with the consumer. By leveraging tech media campaigns with industry insights, consumer tech PR agencies are better positioned to help companies in the tech industry reach their goals and create heightened brand awareness and recognition.

Ending Note

By now, you should have a comprehensible image of consumer public relations and how they can benefit technology-based businesses. Since technology lies at the heart of everything we do, including creating a PR strategy, it pays to invest in the right consumer technology PR agency that can do all of the heavy liftings for you when handling all consumer-focused press relations.

Consumer tech PR agencies are responsible for developing and nurturing a uniform communications strategy for tech-focused businesses and startups. Find out how to create, manage, and analyze display, FaceBook, Instagram, Pinterest, TikTok, and email campaigns with AdRoll.

What sets their services apart is that the overall consumer PR strategy is spearheaded by leveraging their years of experience with robust communication strategies that can take your PR efforts to the next level.

In short, consumer electronics public relations are crucial for tech firms to get the much-needed publicity they need to stand out.

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Mastering the Art of Consumer PR

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The idea behind public relations is – publicity, as in establishing a company’s credibility (and its owner). It helps by predisposing potential customers to believe the brand when a new product or service approaches. In essence, consumer PR agencies work in the same vein as marketing agencies but are more focused on building a positive image for a brand and building the brand’s image with stakeholders like journalists. Mastering the art of consumer PR means capturing the imaginations of key audiences.

What is Consumer PR?

So, what is consumer PR? The debut of Facebook marked a watershed moment in the media and communications industries. Social media has evolved as a legitimate platform that has given consumers a voice during the last five years. PR experts began to make little moves towards making it a standard practice in the field. Simultaneously, social media played an essential role in global political events such as Barack Obama’s campaigns, solidifying its position as the public’s voice.

Over time, Facebook, Twitter, LinkedIn, and Instagram evolved into forums for consumers to discuss the companies they used and liked. The flow of information changed from being controlled by the media to peer-to-peer. Brand communications evolved from a monologue to a discussion. This compelled the public relations business to realign and innovate.

Several brands conducted customer surveys during the time to develop impactful campaign tactics, but the sample size needed to be bigger, making the insights ambiguous. However, technological advancements gave the sector a digital-led data trail with a sample size of millions.

We could now analyze consumer trends, assess their reaction to advertisements, comprehend public opinion, and adjust the discourse accordingly. Data has evolved as a medium for clearly identifying the appropriate method to use with the target audience, with data-backed insights constituting the foundation of every plan or campaign.

The internet was now the primary platform for generating brand-related dialogues. It resulted in new communication channels, such as webinars and podcasts, which brought brands and customers together on a single platform.

Today consumer PR has evolved into a spider web that enables us to construct several communication layers. Owned social media channels and content creators that advance the topic through authentic branded content can supplement traditional public relations by providing live material, such as webinars created by consumer PR agencies, to reinforce the brand message.

Some new business owners may wonder and think why they should devote money from their marketing budget to public relations. They may believe their tech firm needs more significance to warrant full-fledged public relations, or they are considering adopting a PR strategy to save money. However, public relations is not a luxury or a nice-to-have for today’s tech firms. Every organization, regardless of size or stage of development, must promote strong ties with the public.

Strong consumer PR allows brands to create the narrative in discussions with customers, prospects, investors, and existing and potential employees, in addition to assisting the organization in gaining positive publicity.

Audiences can be either active or passive. Different methods will be required to appeal to each kind. An engaged audience is interested in the company and receptive to the message.

The passive audience isn’t looking for anything and may need more time to prep for the carefully planned message, making reaching it more challenging. However, the approach should be genuine and human when dealing with a receptive audience. For that, a deep dive is required before establishing a strategy, mainly because there’s no such thing as a one-size-fits-all message. A consumer PR campaign agency can create customized messages to be successful because communication is the key to corporate success.

Consumer PR vs. Marketing

Even industry pros can readily cross the borders between public relations and marketing. Public relations and marketing departments’ aims, goals, and strategies may closely relate to today’s environment.

In short, marketing is concerned with increasing sales by promoting products, services, or ideas through platforms such as social media. Public relations primarily involves maintaining a favorable reputation for a company, brand, or individual through the media.

While public relations is concerned with reputation management and increasing the reach of news items, interviews, and announcements, marketing teams are concerned with acquiring new buyers, maintaining current consumers, and storytelling.

Both are profoundly ingrained in developing brand equity, consumer loyalty, and good brand impression. Generally, there is a distinction between the audiences for whom PR and marketing teams create communications.

The audience of a marketing agency is based heavily on consumer insight research, which enables marketing companies to target specific demographics who are more likely to be interested in one particular service or product.

It means the target demographic of marketing teams is those potential customers who will purchase based on the marketing message. Marketing teams are likely to engage in digital advertising, ABM, and email marketing for segmenting and targeting specific consumers to achieve that.

On the other hand, consumer PR is a broader initiative that depends on the primary goal of a specific organization or campaign. For instance, a press release intends to introduce or inform current and potential customers about a product launch or event. In contrast, the company’s financial report or white papers are for investors and journalists. So, while marketing and consumer PR employs tactics that may be similar, they are focused on achieving different goals, which is why PR and marketing are distinct from the same department.

Major differences:

Daily Activities: Marketing and public relations specialists use their time differently. PR experts mostly for earned media and media partnerships. Marketing experts devote their efforts primarily to paid media. Both marketing and PR have a role in product launch preparation, marketing campaign creation, and client research.

Target Audience: Another distinction between the two departments is the audience they reach. Depending on the organization’s desire, the PR department addresses various audiences. They may generate a good outreach with the media, firm stakeholders, or even personnel. In comparison, the marketing department is primarily concerned with reaching out to customers and prospects.

Metrics: Another important distinction between marketing and public relations is how both departments judge success. PR professionals assess whether they successfully create a positive buzz for the firm. On the other hand, marketing might consider whether a product accomplished its sales targets or the ROI from a recent campaign.

Goal: The public relations and marketing divisions approach their duties with different objectives. PR is concerned with projecting a positive image of the firm and cultivating positive relationships with the company’s numerous stakeholders. In contrast, marketing is concerned with reaching customers and prospects and growing sales, bringing us to the next obvious question, “what is the differentiation between consumer PR and B2B PR?”

Consumer PR vs. B2B PR: Explained

In public relations, there are two major categories: business-to-business (B2B) PR and business-to-consumer (B2C). Both types of public relations entail advertising a product, service, or company to a specific audience, but there are some substantial variations between the two. The target audience is likely the most crucial distinction between B2B and B2C public relations.

B2B PR is concerned with reaching out to other businesses, whereas B2C PR is concerned with reaching out to individual consumers. The target audience in B2B PR is often a blend of company decision-makers who have the authority to purchase on behalf of their firm. B2C PR, on the other hand, aims to reach the daily consumer interested in a particular product or service.

Relationship building is vital in B2B and B2C PR since it is necessary to develop trust and credibility with other firms or customers. PR agencies prioritize long-term relationships with industry influencers, journalists, and other essential players in their target market. They may also attend networking events such as launches, trade exhibits, seminars, and fairs.

In the case of B2C, PRs typically focus on creating buzz and enthusiasm about a particular product or service. Consumer PR agencies may often work with influencers and social media celebrities to generate buzz around a product launch or promotional event.

Types of Consumer PR

The role of consumer PR agencies is to plan coordinated messages that help a brand achieve its objectives instead of just passing on information for the sake of it. You could invest in the following major consumer PR types.

Social Media and Online Communications

In today’s world of instant communication, brands must possess a solid online presence to stand out from the crowd. With an increasing consumers turning to online sources to research products and services before deciding, brands must get out a positive image via their online and social media communications. As a brand, hiring the expertise of a top consumer PR agency means you get your vision out on the best social media platforms.

Targeting Influencers and the Press

When promoting a new service or product, the consumer needs to get the information they deserve, meaning there should be a mailing list of influencers and media outlets that can help get a business the boost they need when launching a new product or service. The longer the list, the better the chances of reaching a wider audience.

Targeting press and influencers can be divided into specialty, local and national categories. Only experienced consumer PR agencies can gauge which social media influencers and media reports specialize in particular products or services. It is also common for consumer PR agencies to create influencer collaborations and partnerships to produce specific content for a brand.

Consumer PR is about more than just engaging an audience and boosting visibility; consumer PR agencies act as the translator between what the company is saying and what consumers hear. Keeping that in mind, only the top consumer PR agency will be able to work its messages in a way that complements the brand and helps it reach its goal. In today’s highly competitive business environment, consumer PR has become the most critical asset for organizations that want to position themselves for success.

Hiring the Top Consumer PR Agency

Ever since Henry Ford was a little tyke getting news on the latest in the automobile and technology relied heavily on advertising. Besides the high cost, the words of an authority figure in the niche were (and are) arguably the most influential. It’s the reason why stars such as Jay Leno and Jeremy Clarkson have carved a niche as the motoring enthusiast’s TV shows and newspapers turn to for communicating brand differentiators.

In short, their opinion sways the decisions of motoring enthusiasts across the world of automobiles. The same motivation for the connected car is also responsible for the connected consumer, who can now determine the right choice from an array of news, views, and reviews on their mobile device. In a fragmented world where the sheer number of opinions available makes it harder to distinguish the truly committed, consumer PR agencies work to shape the narrative.

More influencers, reviews, and opinions will undoubtedly exist in an increasingly connected world. Still, more messages are needed, which is where hiring the top consumer PR agency can make all the difference. AdRoll has its finger on the pulse when it comes to consumer PR. The company helps marketers and business owners do more with less when reaching the consumer. Find out how you can create, manage, and analyze display, FaceBook, Instagram, Pinterest, TikTok, and email campaigns, all from a single platform.

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3 Marketing Trends for CPG Startups

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Not too long ago, DTC brands were on a tear. The Consumer Packaged Goods (CPG) industry grew at an incredible rate during the 2020 pandemic lockdown – to $933 billion up 10.4% from the previous year. And it wasn’t just the big brands who saw that growth, boutique CPG brands reported revenue growth up 18.3%, compared to 7.5% from large CPG brand manufacturers. But recent changes in digital marketing, along with supply chain issues, have made 2022 more challenging for startup DTC brands. So, given the squeeze they’re experiencing, what CPG marketing trends will give them the most bang for their buck?

 

More recently, CPG and DTC brands have seen some challenging times, especially those in the earlier phases who had hoped to grow with VC funding. But since VC funding has become more competitive, it’s more important than ever for consumer brands to leverage all their strengths.

CPG and DTC Brands with Purpose

This first one is a bit of a misnomer because, realistically, purpose-driven CPG brands are an inside-out job, not simply a marketing initiative. And yet, for those CPG startup brands who can find an authentic purpose, the activation opportunities are endless. This isn’t so much a CPG marketing trend as much as it is a brand proposition.

47% of consumers say they’d switched products or services after a company violated their personal values. 

Consumers are increasingly demanding sustainable and natural products in everything from beauty to wellness to food. Searches for “cruelty-free” products increased by 400% between 2012-2022. And it isn’t just consumers. 86% of employees want to know they work for organizations with an environment, social, and ethical business practices (ESG). While we typically think about large brands doing most of the heavy lifting on ESG initiatives, startup CPG brands can create a bigger splash, reduce operational expenses, and increase customer loyalty by doing their part as well.

CPG PR & Influencer Marketing

TV ads are still the first choice for legacy CPG companies, and that’s because they know becoming a household name takes repeated exposure. But ambitious startup brands without the multi-million dollar ad budget are finding excellent success with CPG PR and even seasonal sprint PR programs. From wellness products to beauty products, CPG brands know the value of trusted recommendations, like magazines.

Trust isn’t a CPG marketing trend – it’s a requirement. 

And because of the importance of the trust factor, startup CPG brands are also turning to influencer marketing. But they’re doing it most often with micro-influencers (between 1,000-10,000 followers). While micro-influencer campaigns are considerably more effort to manage, the results can be impressive because micro-influencers typically have higher conversion rates and that’s because they are more relatable and trustworthy than celebrities.  And it isn’t only CPG brands finding success with micro-influencers, consumer tech brands are doubling down on influencer campaigns too.

 

Product Personalization

Marketing trends for CPG startups come and go, but one consumer trend that isn’t going away is personalization. With new AI technologies, this will become even more relevant, even for challenger brands. Consumers are opening their pocketbooks for DTC startups that offer personalized products; 71% of consumers expect personalization. In some cases, consumers are willing to give up product effectiveness to a more tailored product. From personalized product recommendations to celebrating milestones, today’s consumer expects even CPG startups to know them as customers.

Millennials, already spending more on self-care than any other generation before (2X more than baby boomers) are driving the demand for personalized CPG products. Already, 70% of the top DTC subscription brands use product quizzes to help personalize the customer experience. Not only does this increase consumer loyalty, but it provides a pleathora of data that can be used in future retargeting and PR campaigns.

Millennials are also driving another CPG trend: CBD. While 28% of consumers already use CBD, 56% of millennials do. They’re leading the charge that fuels the 4X growth in CBD products projected between 2020-2026. From pets to skincare, CBD is still a very in-demand product.

 

One thing is for certain, CPG startups aren’t going away, and neither are marketing trends for CPG startups. The internet has supercharged the consumer’s ability to find and purchase products – and it means CPG products in every category have more competitors than ever before. Brands that invest in savvy CPG marketing and PR will have the upper hand with customer acquisition and loyalty. And that means they’ll have more longevity than ever before. Whether you’re looking to be the next big brand, or looking to exit with an IPO, keeping your finger on the pulse of today’s trends super charges your future.

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Consumer Spending Trends and Stats for 2023

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2023 has been a roller coaster for businesses. From CPG to consumer electronics, consumer brands look for ways to see inside the looking glass for the pivotal Q4 holiday spending season. Mixed signals abound. In the spring, Kiplinger’s Economic Outlets says e-commerce and general merchandise spending remains strong and core sales (even adjusted for inflation) were up .6%, but sporting goods, clothing, and grocery continue to decline, this spring. But Father’s Day spending is expected to set records (National Retail Federation), as did Mother’s Day spending. E-commerce and DTC brands wonder how they should plan for the 2023 holiday spending season?

What are the top consumer stats for 2023 that ambitious consumer brands need to know?

  • 86% of consumers say online sources helped them make more informed decisions (Google)
  • Holiday spending in 2023 is expected to increase 4.5% to $1.3 trillion in 2023 (Insider Intelligence)
  • 98% of consumers plan to purchase a Christmas gift (Supermarket News)
  • 55% of consumers have made a purchase directly from email (Cheetah Digital)
  • 88% of consumers plan increased food-related purchases for Thanksgiving (Supermarket News)
  • 31% of consumers say inflation will have a moderate impact on their spending (Numerator)
  • Purchases from banner ads are down 36% (Cheetah Digital)
  • In 2022, 80% of consumers researched or browsed before making a purchase (Google)
  • In 2022, 20% of consumers made a purchase on impulse (Google)
  • 72% of U.S. consumers are prepared to purchase more from their preferred brands (Cheetah Digital)

 

 

Sometimes it’s hard to get a handle on how the consumer feels, especially since your analytics and stats are always backward-looking. That’s why it’s helpful to look at how major retailers view the marketplace.

What are big brands saying about 2023 consumer spending?

“We continue to see some improvements in many items, commodity prices are starting to fall – not back to pre-COVID levels in some examples, but continue to provide some relief – things like chicken, bacon, butter, steel, resin, nuts…Our average transactions, our shopping frequency is up…So those things bode well, but people certainly are spending their dollars where they feel like they should be spending them.” – Costco CFP Richard Galanti

 

“What we are seeing is the consumer making $80,000 a year is trading down…The current economic climate is driving more higher-income consumers into value retail.” – Dollar Tree CEO Rick Dreiling

 

“..We believe the desire to be with loved ones, go on vacation, and attend events has not diminished, and expect gift-giving and occasion-based demand to continue. – Macy’s CEO Jeff Gennette

 

Top trends driving consumer spending

 

Consumer Loyalty

Given rising prices, consumers increasingly choose to stick with the brands they know and love. Consumer brands can leverage this through loyalty programs and word-of-mouth incentives. Give your loyal customer a reason to share your email or recommend your brand, so the next time it comes up with their friends, your brand is top of mind. One way to do this is provide tips and social proof in your email marketing. It’s all about positioning. Your current customers don’t need to be “sold”; they need to have their choices reinforced. Therefore we recommend brands leverage PR coverage in their email marketing with a pat on the back and share an incentive to their existing customers. For those who are on your list and haven’t yet purchased, use a “look what others say,” message.

 

Values-Based Messaging

On the decline? Purpose-based messaging. Only 16% of consumers are voting with their wallets about “responsible brand” messaging. This is likely because of a general fatigue of this type of messaging. Consumer brands sound continues with existing social-impact programs but present them to consumers as part of the brand, not as a defined campaign.

 

Advertising Trust Decreases

While searching online for third-party verifications like reviews and media coverage is up, purchasing from banner ads is down 36% – consumers know ads aren’t trustworthy. Consumers are overwhelmed with messages and struggling to keep up with all the “buy now” signals. They’re looking for ways to cut through the noise and they trust search results and social proof more than anything else. This is also a good time to invest in quality owned content. As search continues to evolve due to AI changes, quality content will become more critical.

 

In conclusion…

Consumer holiday spending will be up, but consumer brands will need to fight both harder and smarter for those dollars. This isn’t the year for ambitious brands to take their foot off the gas. You can examine ways to spend smarter with your existing agency or you can look for programs that decrease PR agency costs for consumer brands.

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8 Essential PR Components for a Successful IPO

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I was on a webinar presented by Morgan Stanley and PwC about preparing for an IPO – and something struck me – there was optimism, and the organizations were signaling their faith in the return of IPOs, soon. 2023 has been an IPO graveyard, but as one host said, “One thing we know is markets change, and so it will also be for the low point of IPOs.” Their advice? Prepare now. Preparing for an IPO is a daunting task for any startup, and the focus is often on due diligence. Yet communications and PR are critical to public offering preparedness. What do pre-IPO companies need to do from a communication standpoint? 

 

Reputation Building 

Bankers know that when you pitch them for your IPO, the company has a verified financial model and total addressable market (TAM). And founders know investors are looking for the next $1 billion brand. This makes your company’s reputation extremely relevant. So when you’re looking to stand out to investors, nothing shows social proof quite as well as media coverage. Media coverage can go on the road with you and helps you stand out to investors. Confident, media savvy CEOs give investors confidence; it shows you can handle a very different role as CEO of a public company. 

Thought leadership is vital to reputation building. During this growth stage, executive visibility is more relevant than ever. Since a solid thought leadership program takes time and strategy, we recommend starting a thought leadership program at least 24 months before a desired IPO. 

Create a Compelling Narrative

Many founders mistake the pitch to investors as the corporate narrative. The two are cousins, but different. The narrative should resonate with key stakeholders, investors, and the public, highlighting the company’s mission, accomplishments, and long-term vision.

Know the Difference Between IR and PR

IR (investor relations) and PR (public relations) have important but slightly different roles in a company’s growth pre-IPO phase. Investor relations focuses almost solely on analysts covering topics your potential investors care about. Meanwhile, PR is targeted towards a broader set of journalists, and the public at large. They can and should work together. For example, both should play a role in any press releases. IR will ensure due diligence is met and ensure the investor messaging is correct, while PR will want to ensure the brand message is consistent and the media targets get the information they need. 

Crisis Planning 

The best time to manage a crisis is before a crisis. Before you go public, and get caught up in all the details of going public, plan for a crisis. How you handle a crisis will affect your brand, and god forbid you to have a crisis during your roadshow or quiet period. Your crisis planning should include many scenarios, from the employee, to property, to product, and, yes, cyber security. Every one of these scenarios could require different stakeholder involvement and point persons. Your crisis planning should include table top exercises and the executive team should review crisis PR plans at least once yearly. 

ESG Planning 

 Investors want to be part of companies with the broadest investor audience, and ESG (environmental, social and governance) is part of that, especially since some brokerage firms and mutual funds are offering investment products that employ ESG strategies. Larry Fink, Blackrock CEO, and co-founder, said ESG is “capitalism, driven by mutually beneficial relationships between you, the employees, customers, suppliers, and communities your company relies on to prosper,”.

From a PR perspective, ESG and even purpose-driven brands have special sensitivities, and it’s important to have a coherent plan and PR strategy for these talking points for all your stakeholders, from investors to customers. ESG is not just for the “woke” – investors see the writing on the wall and have for some time. Also, buyers beyond GenZ see the importance of ESG. 

Audit Your External Communications 

Ensure your website and any owned media meet all regulatory requirements – including executive bios, blog posts, and social media. Look at this moment as your last chance to shower before prom. Your website and social media should also be robust and brand consistent. You want everyone to see you in your best possible light, and the most accessible way for new friends to get to know you is your website. 

Media Training 

The press is not the enemy, but they aren’t here to be your BFF either. Talking to the press live and learning to work with the media under various conditions, including in person with lights and mics, is a skill. While you may have undergone media preparedness before interviews, now is the time to take on a full media training program for your CEO, executives and spokespersons, including anyone who attends public events (like trade shows) on your behalf. 

Expect media training to take several days of intense hands-on training and review. Since all relevant stakeholders will be together, it is also a good time to review and practice your crisis plan too. Since media training is a skill, conducting this exercise well before IPO is recommended. 

The Big Show

Your company will never again go public. This is one of the few indisputably great news moments.  Someone (not the CEO) must ensure the moment is documented and promoted. Do not miss this once-in-a-lifetime opportunity. It’s true – not every company makes the front page of the Wall Street Journal when they go public, but it is news – and someone will care. Using this opportunity to connect with journalists is key; it’s a great time to fill up the trust bucket in the eyes of journalists. 

Prepare for the moment with some notable key messages and brand-worthy must-airs. Run through your must airs and make sure you are prepared to answer questions that might come your way. Have your day meticulously planned with your communications in mind and watch the accolades roll in. 

Effective pre-IPO PR planning is crucial for companies aiming to go public. By crafting an interesting narrative, engaging media and influencers, developing investor communication strategies, building a strong online presence, managing crises, leveraging thought leadership opportunities, and engaging internal stakeholders, companies can establish a positive brand image, attract investors, and generate enthusiasm around their IPO. 

 

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