SEO

Does PR generate revenue? PR, like SEO, reaches people in two customer journey phases. The first is the “Oh! I didn’t know I needed that!” also known as awareness, and it also reaches people in the research phase, also known as consideration. So, PR for revenue is most effective in three phases: initial awareness phase, where you need people to be aware of your product; when you have a great product, and you know that if more people knew about it, they would buy it, or you need to edge out a competitor. PR, unlike advertising, doesn’t provide a straight line of trackbacks, on the other hand, unlike advertising PR has a longer shelf life – it’s very unusual for an article to be taken down. And unlike digital advertising, you don’t need to worry about click inflation. While we would never position PR vs. advertising as an either-or scenario, because both are important, PR positively impacts the entire business across silos; here are ways to track revenue increases from PR.

 

Time to Purchase Decreases

PR lands high on the trust scale for B2B and B2C buyers, so a well-thought-out PR campaign shortens the sales cycle. What does this look like, exactly?

For consumer brands, this can take many forms. The first is reducing the length of the customer journey. Well, let’s say people generally visit your website 2-3 times before purchasing, but you notice they’re visiting 1-2 times before purchasing, this is a positive signal that the brand is more trusted, and people don’t feel the need to do as much research before they buy. Another way PR increases revenue is by actually saving money because you may also see your purchase rates on advertisements increase because people are more familiar with your brand, and your retargeting is even more dialed in. Consumer brands who use earned media in their PR report those ads over perform.

Reducing the sales cycle is an especially valuable metric for B2B PR, where decreasing sales cycles by even a month can add millions to an annual bottom line. A visible leader is especially effective in B2B PR, but visible leaders can be very effective with consumer products as well. Sales people appreciate using positive media during various phases in their sales cycle. A library of earned media, be it CEO contributions or product coverage, can impress buyers and give them additional confidence in purchasing your product.

Organic Traffic

Everyone knows organic search is powerful, and there’s nothing more impressive than pulling up a brand and seeing a series of positive mentions. Ask any SEO expert, and they will tell you many signals create an effective SEO campaign, but one of them is still links back to your website from a highly trusted and/or relevant website. Does traffic always equate to PR revenue increases? No, but if you’re website is up to the task, the correlation is usually very noticeable.

So, when undertaking a PR campaign, watch your organic visits closely. You’re likely to see an increase in organic visits to your website simply because your brand is visible in more places and your search results are more independent and trusted. And the cool news about this organic uptick? It builds and builds as you earn more media coverage. You are receiving more inbound links while at the same time increasing awareness and search results. Sometimes companies get frustrated by the fact that this is a correlation, and they can’t directly track the most effective pieces of earned media. Believe me, PR agencies wish this was more obvious too, but the goal is to increase revenue, and when you see results that are undeniable, you know you’re on the right track.

As a digitally savvy PR firm, we do our own keyword research alongside your Google Console while researching media coverage to look for ways your SEO and PR can work together. We also support our clients with content strategies that boost organic traffic. A solid understanding of the PR ecosystem is essential for today’s media environment and for tracking revenue to PR campaigns.

 

PR: Increasing Customer Loyalty

There is nothing more costly than customer churn. But why do customers leave? While there can be many reasons unassociated with PR, the way PR impacts churn is by deepening the relationship with your customers. Customers like to see brands they support covered positively. It also allows them to share the content with their friends with the “this is the ____ I told you about.”

There’s another way to reinforce loyalty, and that’s through purpose-driven PR or social impact PR programs. Customers expect businesses to be more socially engaged than ever, but it’s a tricky proposition for brands, so solid PR and messaging are more vital than ever. And done well, this kind of messaging creates extraordinary customer loyalty because customers know you understand them.

PR is an important tool for emerging industries and ambitious brands, and while it is transformative, but it isn’t a magic bullet. Plan on working closely with your PR agency to get the best results. Before hiring a PR firm, establish the KPIs important to your company. The more open you are with your PR firm about your goals, including your long-term goals, the more your firm can build a custom PR program that helps you through all phases of your company’s growth. Remember, there are very few household name that ignore the revenue increases from PR.

Can growth marketing and public relations work together. Growth marketing is about customer acquisition and retention, often through paid media, with relentless iterations and deeply engaged knowledge of the consumer. Public relations is reputation management of a company’s image, often through earned media and deep understanding of broader cultural and media trends. So what do they have in common? On the surface, not much, but when you dig deeper into the tactics and the metrics, we can see where together growth marketing and public relations can work together successfully.

Suppose the business objective for a consumer product launch is to increase sales through decreasing competitors’ market share. In that case, a digitally savvy PR agency knows how to do competitive research of the entire digital landscape and media landscape and use that data to determine the opportunities to overtake a competitor, while a growth marketer is reviewing how the company attracts customers and retains customers. But where do growth marketing and public relations work together?

Data Driven KPIs

Today’s modern PR firms and PR campaigns should be tied to business goals and identified public relations metrics that support and funnel up into that goal.  While growth marketers are developing ads, PR agencies are developing ways to capture the target audience’s imagination. PR agencies may present a word-of-mouth activation or a targeted quality over-quantity earned media campaign that overlaps targeted audiences. A PR agency might also recommend content which can boost SEO and support brand values that interest and retain customers.  Just like a growth marketer, a modern PR agency is tracking metrics. What metrics might a PR agency track in the above scenario?

  • Mention Quality
  • Article Reach
  • Brand Placement in Article
  • Share of Voice
  • Domain Authority

All of the above PR metrics are measures of awareness and credibility. These metrics support top-of-funnel AND bottom-of-funnel customer journeys and can support growth marketing efforts with a keen eye on target audiences and messaging which supports growth marketing.

The Digital PR Toolkit

For growth marketers, the digital tool kit is primarily paid (but not exclusively); for growth marketing PR, the digital tool kit is primarily owned (but not solely). But there are a few areas where growth marketing and growth PR connect. One of those is SEO. For the growth marketer, SEO provides opportunities for retargeting and organic acquisition, growth marketing PR adds value to both. With a savvy eye on keywords and quality inbound links, PR supports growth marketing objectives to funnel into business objectives.

That’s not all; PR agencies working with media outlets to build revenue opportunities can help growth marketing with a high domain authority on inbound links as well as excellent reviews from credible media outlets, which send potential new customers searching for the product. These reviews could be in gift guides or hero reviews where the consumer product receives an in-depth study that meets Google’s product review update recommendations. Meanwhile, growth marketers will typically focus on reviews from influencers or existing customers. And a brand with positive customer reviews gives a journalist further confidence in a brand and a product.

Today, PR and growth marketing can use some of the same tools, they use them slightly differently:

  • Inbound Links
  • Owned Media
  • Credible Review Acquisition

Credibility: Where PR Fills The Gap

I often tell our clients PR creates the awareness and solidifies reputation; ads are the conversion driver – that’s how they work together, and they both work better. Why? It’s simple: earned media from credible media outlets is more trusted than paid ads. But few journalists look at it as their job to write conversion-focused marketing copy. The journalist’s job is traditionally to create the content that keeps you on the pages. From a longer tail and more strategic point of view – PR also builds brand credibility on the corporate level, trusted brands have faster aquisition and they have longer customer retention, meaning growth marketing is even more influential.

So when someone sees a great review of a product, and THEN they see the ad, they get the trigger to purchase the product, or maybe they sign up for a newsletter, or maybe the look for more reviews and do a Google search that lands them on another referral site. The pathways are endless, but they all come back to one thing: supporting the brand’s business goal.

I’m a fan of understanding and maximizing the media environment for our clients. The Avaans Media client is ambitious and goal driven, so understanding how our jobs support overall marketing strategies and business goals is essential. When we evaluate the landscape for our clients, we find a distinct point of view, and because our tools are different than growth marketers, we can glean insights and data that drive new insights. To be honest, I’m not concerned with being a purist about owned, earned, and paid. It’s the job of a digitally savvy PR agency to know what levers to pull when and how to shape campaigns that create success. That’s our job – and that’s why growth marketers and public relations can be best buddies.

Meet Dan Serard, Director of Business Development and Strategic Partnerships for Cannabis Creative Group, one of the most respected cannabis marketing agencies in the U.S., Dan has worked there since 2018 and has worked with an impressive 200 cannabis brands.

 

First, a little background about you:

I started working in the cannabis industry in 2018 and have worked with over 200 different brands! I live in Massachusetts and am originally from the Northeast. I spent some time traveling around the US and landed in Los Angeles for a little while, where I became ingrained in some of the legacy market up in Humboldt county.

When did you first start working in cannabis?

2018, when I started with Cannabis Creative Group.

What were you doing prior to cannabis?

I managed sales teams for health clubs and worked in enterprise sales for a genetic testing company.

Do you sit on any industry boards or associations that you’d like to mention?

I’m a member of Cannabis Marketing Association, Business Owners Hemp and Cannabis Association, and National Association of Cannabis Businesses. I’m also a committee member of the National Cannabis Industry Association’s Marketing and Advertising Committee and Co-Chair of the Education and Content Committee and a member of the Rolling Stone Cultural Council.

What lesson did you learn BEFORE cannabis that’s been most valuable in cannabis?

Sales is all about listening to the prospect and learning what really matters to them and how to assist them.

Is there a particular cannabis project you’d like to highlight?

There are many! We have an amazing portfolio [at Cannabis Creative Group].

What’s the biggest misconception cannabis companies have about cannabis branding, advertising, marketing, PR, social media?

Many people think that “if you build it, they will come”, especially dispensary owners.

 

In your view, what is the biggest cannabis branding/marketing/advertising challenge facing cannabis companies today?

Where and how to advertise!

What will get easier in cannabis PR/marketing/branding and what will get harder?

Easier – other media outlets opening up to cannabis. Television, radio, Google, social media channels, etc.

Harder- Competing on cannabis-specific platforms. If you’re a new business and competing against established businesses that spend much more money on apps like Weedmaps, your money is not spent appropriately.

 

What can companies do to ease their cannabis PR branding/marketing/advertising challenges?

 

Take the time, effort and energy to establish a TRUE brand foundation. Not just a logo, but think about your voice, position, messaging, etc. so you can scale that message across all platforms.

 

In your view, what is the most under-rated tool in the branding/marketing/advertising/PR toolbox for cannabis companies?

SEO!!!! The adult-use market is using search engines, just like any other industry, and if you can’t be found on Google, then you’re going to have a tough time!

In your view, what is the most over-rated tool in the cannabis branding/marketing/advertising/PR toolbox for cannabis companies?

Social media. It is very difficult to track direct ROI from social media. It is great to have but doesn’t correspond to many sales. Also, advertising on cannabis-specific platforms. It is tough to compete with many other cannabis businesses and many consumers in adult markets don’t even use these platforms compared to Google.

What’s the BEST piece of advice you give everyone you work with?

Start slow and grow! Find a niche market that really associates with your brand, grow within that market, then expand from there if needed.

What’s your advice for people who want to get into cannabis marketing/advertising/pr/branding?

NETWORK, NETWORK, NETWORK!!! Get yourself out there to meet people, join groups, and walk a tradeshow. The industry is open to many people, and it’s important to make connections.

 

Thanks for sharing your insights with us, Dan. How can people get in touch with you?

 

www.cannabiscreativegroup.com