Mike Paul's Blog - October 2008

"In tough times your instinct is to hold back, but your competitors are going to be distracted. That's the time to be aggressive and on the balls of your feet! If it's a good long-term opportunity, you can gain more ground competitively in tough times than in good times."
Ken Chenault

"Your premium brand had better be delivering something special, or it's not going to get the business. Only when the tide goes out do you discover who's been swimming naked."
Warren Buffett

"During a recession, corporations and service providers must invest in telling their stories and explain why their better than their competitors or they will not survive. Strategic public relations is the best way to continue to grow their brands with all of their key audiences. Why? Because unlike advertising, strategic public relations must go through the filters of third party endorsements and the media, which add much more credibility and trust.
Mike "The Reputation Doctor" Paul

ADVICE FROM THE REPUTATION DOCTOR REGARDING STRATEGIC PUBLIC RELATIONS DURING A RECESSION

My public relations firm, MGP & Associates PR, and my Reputation Doctor blog have been getting inquiries every day from corporations and service providers asking the following question since the global economic crisis began months ago:

"We are considering cutting our public relations budget. Is this a wise idea?"

It is NOT a good idea to cut your public relations budget in bad economic times. However, you should consider three important things:

3) making sure the public relations professionals you current have on your team are seasoned counselors with the needed toolbelt of day-to-day practical experience versus "kids" with little experience in strategic public relations, learning on your business and have never weathered economic storms or PR executives who just give lip service and haven't done the actual work themselves in many years.

3 WAYS STRATEGIC PUBLIC RELATIONS CAN HELP YOUR ORGANIZATION IN BAD ECONOMIC TIMES:

As Ken Chenault, CEO of American Express, said in his quote above,"in tough times your instinct is to hold back, but your competitors are going to be distracted. That's the time to be aggressive and on the balls of your feet!" You must overcome the fear to invest in bad economic times and invest in your own success while others are afraid and burying their heads. As a result, your public relations program will stand out among your competitors as they reduce their PR spending and give your organization a clear competitive advantage with sales, reputation growth and brand management!

Strategic public relations includes reaching ALL of your key audiences not just a few. A balanced PR program should allow access to all of these audiences and support your sales team with each. Key audiences are customized to each type of company, but may include current and potential customers or clients, government regulators and elected officials, nonprofit organizations and charities, the media, current investors, potential investors, young, old, married, unmarried, men and women and many more. As Henry Ford said, "you can't build a reputation on what your going to do." You actually have to do it yourself. The first step in reaching ALL of your key audiences with your story and with your success in other sectors or markets is to allow them to see, read and hear exactly how you can help them. Bottom line: tell your story to millions in your markets. Remember, public relations allows you to reach many millions with your message through the power of the media, the Internet and other powerful public relations tools.

Now is the time to best support your sales teams with the ammunition to target all of their current and potential customers with excellent print, radio, T.V. and online media stories and key messages regarding your companies expertise. Also speaking at leading conferences and seminars and writing about how you, as an expert, can help clients weather the economic storm in a blog and have your PR firm introduce you to key segments of the market you've always wanted to be in, but have difficulty entering because of a lack of current access. Remember, media relations is just one tool in the strategic public relation toolbelt. A seasoned public relations expert has dozens of tools to work with to make your business a success, especially in bad economic times! Want to learn how to walk the talk? Invest in your company's future through strategic PR. Your company is not a building. It is you and your other excellent employees. Are you worth investing in? Of course you are! Now you know why an excellent, strategic public relations program, built by seasoned professionals, is a wise investment, especially in a recession!

Remember, do the right thing with your reputation and seek the counsel of an experienced strategic public relations and reputation management expert. Why? Because Your Reputation Is Everything!™

Mike Paul is editor of The Reputation Doctor blog. The Reputation Doctor is a nickname given to him by various clients. Mike's blog is located at www.ReputationDoctor.com. He appears regularly on CNN, Fox News Channel, MSNBC, Court TV (now TruTV), ABC News, ESPN, CBS News, CNBC, BBC, and others as a weekly contributor and expert in the global news regarding corporations, CEOs, celebrities, athletes, politicians and other public organizations and public individuals with reputations in crisis. Mr. Paul is also president and senior counselor of MGP & Associates PR (www.mgppr.com), a leading strategic public relations and reputation management firm based in New York. For interview requests, speeches, senior counseling or other business opportunities with Mr. Paul, call 212-595-8500 or email info@mgppr.com.

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Comments:

Comment from: Mike [Visitor]

I am fully agree of your article PR Is Most Valuable In A Recession. Thanks for sharing very useful and nice article. I found it much helpful and useful for me. Thanks for good recommendations. JN0-342 exam , 1Y0-456 exam , 642-066 exam

Jul 30, 2009, 8:50 am

Comment from: mlgreen8753 [Visitor]

Cheap advertising is also valuable in a recession. That may not be good for traditional advertising, but online advertising is booming because many large corporations are shifting their advertising to the Internet. I just saw a BMW advertising on Adwido, a low budget video ad network.

Aug 26, 2009, 10:50 pm

Comment from: Nyphi [Visitor] · http://nyphi.com/

I certainly think that people need to be more positive. I hear a lot of people practically giving it all up because they keep hearing on the new about how awful the recession is.

Nov 23, 2009, 7:17 am

Comment from: Tommy [Visitor] · http://www.google.com

thanks too much

Mar 11, 2010, 6:29 am

Comment from: ThomWestley [Visitor]

This may be one of the most useful advices to get over this period of recession I've heard so far. PR is indeed the key to to keeping your business present and to make it trust worthy especially in rough times. As my business evolves mostly over the internet, I have opted for an affiliate network program to raise my PR thus guaranteeing me better visibility and trust in the electronic environment and it's really starting to pay off. As you said, in times of crisis demand desperate measures.

Feb 16, 2010, 3:52 pm

Leave a comment:

I was honored to attend the third and final Presidential debate at Hofstra University and wrote this blog on site.

1. Joe the Plumber!
McCain finally understood that personal stories work. Joe the Plumber trumps Joe Six Pack! Everyone can relate to Joe the Plumber and everyone wants him to do well as a small business owner. McCain tied Obama's economic program to increasing Joe the Plumber's taxes and sharing his wealth and Obama labeling him a rich man as a plumber grossing $250,000. It helped McCain and it is a personal story we all will remember. A big point for McCain and it made Joe the Plumber a new star. Look for him to comment as soon as tomorrow.

2. "Senator Obama, I am not President Bush! If you wanted to run against him, you should have run 4 years ago!"
McCain, the maverick, made it clear with this and other answers during the debate that he is not President Bush and he has never been President Bush. I think the comment was a great zinger, second only to the Joe the plumber story, but McCain has to continue to separate himself from Bush's policies during the next few weeks. It was a great first punch, but he has 20 more rounds to go before election day to win!

3. TONE: McCain was on offense as Obama was on defense.
Like the former fighter pilot he is, Senator McCain dropped a few bombs that had impact on Senator Obama during the third and final debate. McCain hit hard at Obama's economic plan to label Obama several times as a tax and spend liberal who will definitely raise taxes. McCain translated Obama's slick responses live and quickly on the debate set. Obama has a gift for gab, but when properly peeled back many see him now as slick as a former President who had the nickname Slick Willy.

4. Obama's policy wonk comments didn't work tonight as he tried again to make everyone happy.
McCain took a stand and showed America he is for smaller government versus Obama's larger government. Obama was flustered several times and McCain forced Obama to admit a few holes in his policies from abortion to education and speaking the same talking points. Bottom line: many Americans still have big doubts about Obama, but he is still the leader in the current campaign. McCain won the night, but Obama is still leading the battle.

5. Pointing out doubt works.
It makes some very angry, but negative campaign messages work. You don't always have to point out your own positives. You win also by pointing out the opponent can't be trusted, is not always honest and doesn't always take a stand. Look for McCain's team to have some momentum coming out of this last debate. However, Obama will be tough to hold back the next 3 weeks. Obama is out spending McCain 3 to 1. However, McCain is still in striking distance and not out of the race yet. McCain likes to come from behind. Well, he has to be absolutely perfect the next 3 weeks to win in November. Obama must also take a bit of a fall for McCain to win. This election is still neck and neck. Polls and surveys are only a snapshot in time. What matters is what people think of November 4th and many are still undecided and independent. Many still not sure are white women in the suburbs. Hold on. We have a lot more to come!

Remember, do the right thing when your reputation is in crisis and seek the counsel of an experienced reputation management expert. It will be a major challenge, but ultimately the rewards of repairing your reputation will be great. Why? Because Your Reputation Is Everything!™