“Good name in man and woman, dear my lord, is the immediate jewel of their souls.”
Othello Act 3, Scene 3
Although these words are spoken hypocritically by the villain Iago, they remain as true in the age of the internet as they were in the days of the folio. A good reputation is as relevant for a business as it is for an individual, and it is the cornerstone of the public relations and marketing industry.
Before it can have a good reputation, a business must first develop name recognition for itself and its products. This is where a professional PR/marketing company that understands the media in all its forms can be invaluable.
Favorable name recognition is directly associated with the credibility of a brand and the elimination of roadblocks to consumers’ purchasing decisions. In a highly competitive market with many suppliers, the brand with the greatest name recognition is usually the winner when a sale is made. In short, a good reputation really is like a jewel of great value.
Name Recognition: A Crucial Publicity Objective for Increased Sales and Market Share Acquisition is an original (NXPExchange) article.
Many businesses recognize the value of favorable name recognition, and this has helped the size of the global public relations tools market grow to $10.4 billion in 2022. The International Market Analysis Research and Consulting Group, which compiled these data, expects the PR market to reach $20 billion by 2028, which represents an annual growth rate of 11 percent.
IMARC Group says public relations tools include the establishment, identification, and maintenance of mutually beneficial relationships between various organizations and the general public. Besides assisting in marketing campaigns, these tools also aid in running analytics to assess the impact of the content posted by the organization.
Public relations tools make it easier for companies to stay in touch with important news related to their demographic. Media coverage can be arranged in one call with fewer costs, which, in turn, reduces the financial burden on companies. Additionally, public relations tools create online surveys and determine the opinions of targeted audiences, which helps create a better brand.
The current PR market is driven by the growing usage of numerous platforms for reaching out to regular and potential consumers. This can be attributed to continual advancements in data drilling and information-gathering platforms in both large and small organizations. In addition, the rising popularity of social media advertising and digital marketing is helping businesses track consumer preferences.
The PR market is also being driven by the demand for understanding current trends and predicting the behavior of consumers based on analytics and aggregation. The growing need for integrated marketing communications is also creating a positive outlook for the market. Other factors contributing to market growth include rapid digitization, continual technological advancements, increasing penetration of high-speed internet, the use of cloud computing, and extensive research and development activities conducted by key players.
A key component of the PR market is the ability to provide credible, fair, and accurate news copy to reputable media outlets. Viewers and readers are increasingly skeptical of material they find from traditional print and broadcast outlets, and they are especially wary of claims they find on the internet. The old model of three news networks and a handful of truly national newspapers and magazines has been replaced by a seemingly endless stream of words and images whose origins are murky at best.
Businesses that once built bridges of trust with legacy news media now compete with upstart companies that may or may not adhere to honesty and fairness in their dealings with the public. The products that the older firms make and sell are just as good as ever, but getting that message to potential customers is becoming ever more complex.
Business news writers find themselves in a similar situation on the other side of the journalism industry. Daily newspapers are folding left and right, leaving many American cities without a reputable source of information about the products and services available to local customers. The writers who worked for these publications often find themselves with specialized skills that are not in demand in the marketplace of ideas.
Into that gap steps organizations such as NXP Writers Syndicate, a fraternal and business society of professional writers, reporters, and journalists who share industry information and access to publishing outlets and editors domestically and internationally. NXP has developed a robust proprietary technology and identification system to facilitate efficient article submission to the editorial staff at digital and print media outlets throughout North America. The goal of all this technology is to help writers work with businesses to develop and improve their positive name recognition.
Many businesses are anxious to find ways to reach their increasingly scattered base of potential customers so they can continue to develop and increase their sales. Working with writers who provide material for many media outlets helps them achieve that goal, and it also makes the process much more efficient.
Perhaps the biggest benefit of strong positive name recognition is the potential for increased sales, and, therefore, a more robust bottom line for businesses. It’s well-known that people assume that a better-known name, especially one shown in a favorable light or context, is the mark of a better-quality product or service.
Another abiding principle of the PR/marketing business is that name recognition must be established before brand recognition can take place. Logos, jingles, slogans, trademarks, and social media campaigns are often the first steps taken to get potential customers to know that a product exists. Once that name recognition is established, well-crafted media placement can help develop positive brand recognition that leads to more sales and revenue.
Many successful companies have learned that favorable name recognition can be achieved through print media publicity campaigns that feature third-party-generated, highly engaging, and search-engine-optimized sponsored content. The trick, if there is one, is to maintain credibility as an endorsed sponsor without being advertorial. Viewers and readers tend to place more trust in actual news reports than they do in any sort of paid endorsements. Intelligent sponsorship enables a brand to achieve name recognition as an endorsed party rather than as a self-promoting enterprise.
Positive name recognition can be an elusive goal for any company, and winning the public’s trust has always involved hard work, quality products, and honest media relations. The good news is that businesses don’t have to carry this burden alone. PR and marketing experts who understand how to produce usable news copy that will be printed, posted, or broadcast by reputable media outlets can be valuable allies in achieving this goal.
About
The NXP Writers Syndicate (https://nxpexchange.com) is a fraternal and business society of professional writers, reporters, and journalists who share industry information and access to publishing outlets and editors domestically and internationally.
