Digging Deeper Into The Business Of Public Relations
- Posted by admin on August 27th, 2009 filed in Business and Management
Public relations is not an industry which the public thinks of in a favourable light. This is perhaps down to the fact that public relations is highly involved in crisis communication, when something goes wrong with an organization or it has or is perceived to have done something wrong. However, a good public relations company can increase a company’s profits, build trust with the organisation’s publics and publicise the services or products that the business is selling.
Many people view public relations as an arm of advertising. However, public relations does not involve paying the media for publicity. Public relations uses third party endorsements to gain credibility. Whereas advertising involves paying for exposure in newspapers and on the TV, public relations get free coverage through issuing press releases and going on the actual television shows. There are several sectors besides media relations where public relations is used.
Possibly the most important sector of public relations is investor relations. Managing the relationship between the company and the people who invest financially in it is vital to maintain the company’s image and financial security. The investor relations branch of the company handle inquiries from investors and shareholders, liaise with the department responsible for legal and regulatory matters which concern shareholders and have a hand in crisis communication.
Maintaining a good relationship between company directors and the general staff is also important and falls under the sector of labour relations. Labour relations is all about managing the relationship between trade unions and worker representatives so that industrial disputes are avoided.
Building trust between the company and its various publics is also achieved through acts of good will and philanthropy. Fun events, bonuses and awards are good for workers and shareholders whilst charitable work in the community surrounding the company builds trust with potential customers.~ Doing charity work or sponsoring development in the company’s surrounding community builds trust with potential customers whilst holding fun events and handing out bonuses and awards work well for labour and investor relations.~ Investor and labour relations can be manipulated with events and bonuses whilst sponsoring development or activities in the surrounding community works well for local public relations.}
Leave a Comment