The need for a good reputation can never be underestimated. Even booming industries feel the financial pain when they lose public favor. Just look at the many examples (Tesla, Ratner, United Airlines, Victoria’s Secret) of poor media management causing stock to plummet overnight. This skepticism is growing with every generation, with bright minds no longer pursuing careers at companies with a bad reputation. Strong public relations are essential for maintaining your organization.
As Warren Buffet once said, "It takes 20 years to build a reputation and five minutes to ruin it." In the internet age, we are faced with challenges like fake news, a struggling publishing industry and constantly changing media. Reputation is your only constant; something you can rely on to navigate these challenges.
Your savvy customers can be both your greatest supporters and your biggest critics, depending on how you communicate with them. With the media at your side, you can tend to your reputation like a garden. After all, everything is nurtured by a loving hand. Like gardening, public relations is an ongoing and long-term cultivation effort. But if you start planting the seeds, you will reap the benefits for years to come.
As an added bonus, public relations is a very cost-effective type of marketing. This attractive cost-to-reach ratio translates to a high-value outcome.
