Why Businesses Need PR Stats
Heather Holmes??
Founder & CEO @ Publicity For Good - Purpose-Driven Brands| PR Leader, CEO, Top Women in PR
PR (Public Relations) is an essential element in the growth and success of businesses. Here are some top statistics to demonstrate the value of PR for businesses:
Consumer Brand Awareness at Retailers: According to a study by PRWeek and Cision, 84% of marketers believe that PR activities directly contribute to sales by increasing brand visibility in places like grocery stores and other retail spaces. Consumers are more likely to select a familiar product over an unknown one, emphasizing the importance of PR in making a brand name recognizable at the point of purchase.
Trust and Credibility: According to the Edelman Trust Barometer, 65% of consumers trust earned media (which includes PR) more than any other form of marketing. This means having positive news stories, articles, and mentions can significantly boost a company's reputation.
ROI: According to the Public Relations Society of America, businesses earn on average $5.50 in media coverage for every $1 spent on PR. This is a testament to the cost-effectiveness of PR campaigns.
Digital Impact: A Nielsen study found that PR is almost 90% more effective than advertising in driving sales conversion. This shows that earned media can significantly outperform paid media in influencing purchase decisions.
Crisis Management: According to the Institute for Public Relations, 63% of consumers say that they would refuse to buy products from a company they consider to be unethical. Effective PR can help businesses navigate controversies and protect their image.
SEO Benefits: BrightEdge research indicated that over 50% of traffic comes from organic search. PR can improve a brand's online visibility and domain authority through backlinks from high-quality publications.
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Consumer Engagement: According to Cision, press releases with videos attract almost 3 times more visitors than those without. Integrating multimedia into PR efforts can significantly enhance engagement and message retention.
B2B Trust: DemandGen's report found that 66% of B2B buyers strongly agree that companies should make it easier to access their content. Well-executed PR ensures that pertinent business content is available and easily accessible.
Thought Leadership: A LinkedIn and Edelman study revealed that 55% of decision-makers use thought leadership as an important way to vet businesses. PR can help position businesses as industry leaders.
Influence on Investors: According to the National Bureau of Economic Research, media appearances can significantly influence stock prices and investment decisions. Having a positive PR strategy can be advantageous for businesses looking for investors or trying to increase their share price.
Global Reach: PR Newswire reported that businesses that distribute their news internationally see a 30% better online engagement rate. A global PR strategy can significantly expand a company's reach and influence.