(MENAFN- EIN Presswire)
NEW YORK, NEW YORK, USA, August 4, 2022 /EINPresswire.com / -- According to public relations executive Ronn Torossian , trust and confidence from customers for companies are currently at a record low, which has turned into a very difficult business environment for many companies. In fact, some companies have decided to start to downsize to get ready for the upcoming changes and negative economic downturn.
Some of the first things that most companies tend to cut out of their budgets are marketing and public relations efforts. However, during difficult economic times, silencing any sort of communication with the public with the target audience of a company is not a great choice.
Torossian says if the economy continues its negative decline, most customers will end up not purchasing products or services that they don't see as essential, or that they don't think will be around for a long period of time. That means the success of a company is based partly on the trust and confidence that customers have in businesses.
In fact, according to research, brand trust is one of the most important elements that people take into consideration when making a purchasing decision. Since earned media has been created as a way for companies to generate more trust with the target audience, in a way that traditional promotional efforts such as advertising don't really work, earned media is seen as a third-party endorsement that is already objective and promotes a business and its solutions in an impartial manner. Since most of the public still has certain levels of trust in mainstream media outlets, a great way for a company to improve its trust with customers is through earned media efforts.
During tough economic times, most customers will want to avoid making purchases from companies that they are not too familiar with. Instead, they want to make sure that every single penny they spend is going to get the most potential out of it. That means they're a lot more likely to make business decisions and do business with companies they already know and have proven themselves to be helpful to the customers in the past.
However, if a customer doesn't have the confidence they need regarding a company or its solutions, and how long they might last, they might start looking for an alternative, which is where earned media efforts can be incredibly helpful for businesses. Simply having a company in a featured story and a specific outlet can generate a lot more credibility and trust with the target audience of a business.
This way, the company will generate more brand awareness about itself, and showcase that an influencer, a journalist, or a media outlet has quite a lot of confidence in that business or its solutions. During difficult times, most people tend to follow a herd mentality, which means getting positive media coverage allows potential customers to see that a business has gained the trust of that specific media outlet, journalist, or influencer, which can create more long-term loyalty to a business from its potential customers.
Ronn Torossian founded 5WPR.
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