Stop Gifting Growth to Others – CEO of PR Agency JBH Shares Importance of Consumer PR During Cost of Living Crisis
Despite the ongoing cost of living crisis, CEO of consumer PR agency JBH says brands need to look to the top of the marketing funnel, alongside the bottom if they want to thrive in 2023.
The warning comes as research from Bloomberg1 reveals that UK consumer spending is at its lowest since 2008 due to price-conscious shoppers whilst inflation is at a four-year high.
Jane Hunt, CEO of Manchester consumer PR agency JBH explains:
“During difficult financial times, the magnifying glass will be set firmly on brand marketing budgets. It’s understandable, as brands will look to the marketing channels that generate clear ROI and then work their budgets from there.
“PR is one of the channels that often falls to the bottom of the priority list in favour of paid channels. And this is because it’s a brand marketing activity, rather than a direct sales activity that can be turned on or off at the flick of a switch”.
Studies have shown that historically, brands who invest in marketing during a recession outperform those that don’t. In the 2008 recession advertising expenditure dropped by 13%, but statistics revealed 3.5 times more visibility for brands that maintained their output2.
“With paid channels, you’re paying for leads or you’re paying for clicks that might not convert – you’re still spending money. With PR, your brand visibility and awareness will continue to increase, long after the campaign or activity has ended.
“Look at it this way, if you stop promoting your consumer brand and your visibility and awareness declines, you’re actually giving that growth to your competition, and that really is a waste of money”.
