Convert my reputation into money
If a business spends money on its reputation, it wants to understand what it converts into. The CEO thinks in numbers, so his main question to each department is: “How do you help the company make money?” This question also applies to PR.
PR is about influence. And from the influence, you can calculate the margin. Demonstrating in numbers how much you can influence your key stakeholders who will make decisions that affect your business is the task of PR. The quality of this influence can be measured by the amount of money spent on PR compared to the money saved by the business.
We operate in a market without rules. That is, de jure it is in the legislative plane, but de facto it changes with the arrival of each new government. In our case, every two to three years, which results in new rules. When the state cannot effectively manage funds and tries to compensate for the increase in expenditures by introducing new taxes for business. The full-scale war naturally exacerbated the situation and brought chaos and inconsistency to the change of the rules of the game. The state needs more resources for defense, but decisions to get them at the expense of business can have long-term negative economic consequences.
The government and business have different goals and objectives, and different ways to achieve them. For example, the ability to explain to the executive or legislative branches in a timely manner that the state will benefit from the introduction of an additional fiscal burden here and now. But a very high fiscal burden will not allow businesses to invest in development, so in the medium and long term, the state will lose, and the PR service will help businesses. What big business does not spend, it saves. And savings are direct earnings.
Civil servants never think about the efficiency of spending the taxes they collect. There is often a situation where government institutions say: “I do what I want,” and businesses have to put up with it. Business, on the other hand, always counts money, otherwise it goes into the red and closes down. The essence of the PR service is to explain to the state in time that the actions of certain institutions or natural monopolies can lead to a business shutdown, which will have negative consequences for the state.
Your press service is only as effective as its ability to influence key stakeholders who make decisions that affect your business. The quality of this influence in B2B can be measured, as I said, by the amount of money spent on PR compared to the money saved. For B2C, it’s measuring the level of awareness, the level of trust, and the pool of brand advocates who are ready to get involved in support for free because they believe in the brand.
