Mankind is facing an unprecedented COVID-19 crisis which threatens the very existence of the human race. Businesses are facing huge losses and are forced to curb their expenses in various ways. Most of the businesses are adopting the ‘wait and watch’ approach which seems to be the most logical at this juncture. The same is not true even for a service-led industry like Public Relations (PR).
Feeling the pain
With the global market observing a slowdown, most of the industries are trying to survive. But the PR industry is exception. We all know that the PR and media industries go hand in hand. Due to the slowdown, people are reluctant to buy newspapers, so they are switching to the news on the Internet. Online PR is the new normal. Most of the people are in a panic mode and because of that, the sale of newspapers has declined drastically. Most sections of the media, barring a few, are focusing only on the pandemic and this has impacted client coverage. But being an Online PR owner, there are many advantages.
- New Business Model
Clients have withdrawn their proactiveness towards continuing Offline PR activities and switched to Online PR. The lockdown has also impacted product launches and other promotional or media events where Offline PR teams play an important role. Everything has been switched to the Online PR.
New Ways of Communicating
The recognition of the value of these forms of communication are ultimately one of the key reasons why the Online PR industry stands to gain from the pandemic. For many businesses, the COVID-19 crisis was the first time they were forced to devote significant resources to digital marketing, and after seeing how much can be achieved, they will be unlikely to go back to more traditional methods.
Bottom Line
All of these factors have contributed to a surprising fact about the past few months: that while business investment has fallen in almost all sectors, the resources devoted to Online PR Industry has actually increased. It seems business leaders are finally recognizing the value of PR when it comes to communicating with their customers, and ultimately ensuring ongoing profitability.
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