B2B-PR

3 Measurable Ways PR Increases Revenue

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3 Measurable Ways PR Increases Revenue For Fast-Growing Brands and Emerging Industries

If you’re considering investing in a PR agency for your emerging industry or fast-growing brand, you might wonder what ways does PR increase revenue outcomes and how can you track it?

Your revenue outcomes will vary depending on your strategy and your strategy will determine your timeline; but here are 3 ways PR will increase revenue.

  1. New Customers, Faster

    One way PR increases revenue is with new customers, faster. As a customer, when you come across a website with recent press coverage and you compare it to a competing brand with none, which do you trust more? This is a key differentiator between advertising and PR: PR is 3X more credible than advertising. Increased credibility and trust have real and measurable revenue implications. If you’re watching for increased revenue as a PR result, watch metrics like track time to close, number of visits before a purchase. You can expect to see consistent benefits in those areas if you’re getting regular, on-brand coverage.

  2. Increased Revenue from Brand Loyalty From Existing Customers

    Why does brand loyalty from PR contribute to increased revenue? Well, your customers like knowing they’re buying from a trusted company. A company others see positively. And your positive PR acts as positive reinforcement to their own values and self-image. This is even more important for younger target audiences (GenZ, Millennials). If this is your strategic PR outcome, then we recommend focusing on brand activations, partnerships, and experiences for existing customers. This can be as simple as a surprise gift in a recent order. Or something as extravagant as a collab with a value-aligned super brand.  As you increase your PR coverage,  Are your unsolicited recommendations on social increasing? Are positive reviews increasing? Does customer churn decrease? These are metrics which support increased brand loyalty.

  3. Increase Revenue by Stimulating Desire

    PR increases revenues with timeless and credible coverage. Because PR has is stickier than advertising, you can appeal to your target audience at just the right time. When customers are searching for products, publications frequently appear at the top of the search, and publications are also trusted guides for customers. So you’re right where you want to be in exactly the right buying moment. Priceless.

For more ideas on maximizing revenue by leveraging your PR, check out my interview with Kage Spatz, which originally appeared in Authority Magazine.

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5 Times B2B PR is Worth It

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Is B2B PR worth it? That absolutely depends on your business objectives and the value you place on those business objectives. If you’re pre-IPO, seeking venture capital, or strategizing an exit, PR can be the difference between an average and life-changing result. B2B PR and marketing should always work hand-in-hand to maximize effectiveness. Here are five times B2B PR is worth it, especially during uncertain times. Modern PR firms know how to combine the opportunities into powerful reputation builders for B2B companies.

 

Combine Podcasts and PR

Podcasts offer many ways to reach audiences, earned, owned, and paid. Searches for “Spotify Podcasts” are up 178% in 5 years.

First, let’s address the earned opportunities. Many B2B podcasts aren’t famous but are voraciously consumed by the niche audience. These are great places to start a consistent thought leadership campaign for any c-level executive or founder. Earned media podcasts have an excellent shelf-life and can provide high-quality links back to your website for authority building. Since podcast hosts are often very connected, they are good connections to make.

From a paid perspective, there are several ways to advertise on podcasts that target the most niche audiences. Incorporating podcast advertising into your overall marketing budget is both cost-effective and provides an additional touch point for podcasts that provide earned media opportunities.

Finally, owning a branded podcast that provides industry insights to your ideal customers is an excellent way to own marketshare and provide your potential customers a way to get to know you before they reach out. I know some branded B2B podcasts are responsible for up to 45% of new business. Owning a podcast is a commitment, but your B2B PR agency can support you with planning and content.

 

LinkedIn: B2B’s Easiest Activation

Arguably, LinkedIn is the most underrated tool for fast-growing companies. It’s the only social media platform that is 100% business, and when your business IS business, the company and executives should be active.

It’s not just about posting, though that’s an essential ingredient. And it’s not just about connecting, despite what the “connectors” would have you believe. At its core, LinkedIn’s most valuable asset is the ability to reinforce connections and consistently be top of mind. And it’s FREE.

LinkedIn also provides great owned content opportunities in the form of newsletters. These newsletters are worthy and a great way for B2B companies to own their messaging in front of their most engaged audience: others in the B2B mindset. LinkedIn also offers ways to contribute to crowdsourced articles, which is an exciting blend of human and AI content.

 

Contributed Content for Hypergrowth Reputation Management

No doubt media is changing, and one of the most exciting areas is the opportunities to contribute to newsrooms. Even tier 1 outlets have reduced journalist headcount, but media still needs to create content. Increasingly media outlets are turning to experts in niche industries, be it cannabis or AI, or consumer goods,  to lead conversations that would take journalists days or even weeks to learn. Most of this contributed content still goes through a rigorous editorial process.

This kind of opportunity for B2B companies in hypergrowth turns on the PR hypergrowth engine for B2B companies. Because editors deeply review these articles, you’re point of view may inspire an editor to do a more in-depth article on your topic, especially since they already have an expert. The key to this content is understanding the editorial requirements and maximizing the relationship with the editor.

 

Newsletters with Value to Activate B2B PR

Newsletters have real value for B2B companies, especially those with longer sales cycles. Newsletters activate your PR and your owned content, whether that’s from your website or podcasts.

B2B Newsletters don’t have to be a weekly program, but they should be utilized a few times per month. Delivering actual value to your audience allows you to generate a positive reputation and build mindshare. So many of your competitors will overlook newsletters dismissing them as an annoying consumer PR tactic, but nothing could be further from the truth. Your newsletters support your sales and marketing with another exposure and touchpoint. After utilizing your newsletter effectively, you could see ROI such as decreased sales cycle, and more incoming leads since your readers can easily share your newsletter with others.

Newsletters are also a great place for industry announcements and to link back to your corporate wins, like media coverage.

Contribute to the Story to Own the B2B Story

When asked, journalists overwhelmingly want data. Developing a meaningful industry survey provides your company with exclusive insights and gives journalists fresh, new information to report on.  Increasingly, newsrooms lack the resources for in-depth research on tangential topics, but a well-produced sponsored survey can fill in some of the gaps journalists need. As importantly, surveys can provide PR opportunities throughout the year, when well developed, to create content opportunities with relevant calendar events.

-Iot
-Thought Leadership
-Third Party Validation
-Contribute to the Story (surveys) / newsrooms
-Don’t ignore your niche

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