Public relations must have much more than a business value, concludes a discussion of the global trends that are shaping PR.
It was held during this week’s Canadian Public Relations Society National Conference in Montreal.
“PR must aspire to a social purpose, serve social cohesion and aim to bring communities together,” says Daniel Tisch, president and CEO of Argyle Communications. “If you practice PR with a social purpose, you can have the relationships and business outcomes you seek.”
In addition, PR must listen more to the external world, says Jean Valin, president of Valin Strategic Communications. Fortunately, this is something that is increasingly being understood by CEOs: A study found that 80% of CEOs in the world’s 50 largest companies are on social media and 54% of those CEOs appear in online corporate videos.
PR must also stress relationships, Tisch says, noting relationships have become more important in an age when everyone has communication power, but brands are less resilient. According to an IBM sponsored study, the average life expectancy of a company in the S&P 500 has dropped from 75 years in 1937 to 15 years today. “The best predictor of brand resilience is the strength of its relationships.”
Another trend sees PR equalling corporate social responsibility, Tisch and Valin noted. They cited a study that found it can pay off for brands that take stands: People are 8.1% more likely to buy from companies that share their social and political views.
For example, Starbucks’ #RaceTogether campaign to get people talking about racism was initially considered a flop, but some now believe it will benefit the brand in the long run. Likewise, U.S. fast-food company Chick-fil-A was heaped with scorn after its CEO made remarks opposing same-sex marriage, but later saw its sales increase.
