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Good PR Beats Advertising - Every Day

Tuesday 5 September, 2000

Public relations is worth investing time and money in. Finding the right PR consultant is the first - and most important - step.

Entrepreneur: Garry Holloway, Owner
Company: Precious Metals
Business type: Design and supply of ideal cut diamonds
Founded: 1976
Turnover: $2M - $10M
Head office: Canterbury and Brighton, Victoria
Contact details: +61 3 9830 5600

A Precious Metals Story

When your research is about to turn traditional diamond valuing upside down, you’re no ordinary jeweller. With such a big story to spread, Garry Holloway’s part-time public relations consultant arranged for him to tell his story to Bert Newton on the national TV program Good Morning Australia.

That’s the kind of value that hiring a good PR consultant can add to your business - if you have the right message.

Key learning points:

  • Public relations - Only do a public relations (PR) exercise if you have a good story. Holloway says: “A consultant may be able to find you a good story that you don’t see because you are too close to the business. Lots of us don’t know what our customers truly value about our businesses.”

  • PR messages - Make sure that your PR person wants to spread the same story you do. If he or she wants to spread a different story, you may have a problem. Spreading more than one story may weaken your building of a brand. All wisdom says that a brand is an identity, so a split identity means a weaker brand. You need a publicist who believes in communicating that one message.

  • Invest time in PR - Be aware that PR is time consuming. Holloway says: “I average three interviews a week, often going out of the office to do them. Sometimes an editor interviews me first, then follows up by sending a journalist to do the actual story. Editors want to know if there is news in the story. So there’s two interviews before you get the one write-up. But don’t discount conversations with editors because they are usually pretty smart, worldly and ask very insightful questions.”

  • PR and advertorial - Some smaller publications will offer to write the story in the mistaken belief that you’re therefore going to advertise with them. It is called ‘advertorial’, but is that what you really want? Holloway says: “We will [advertise] if we think it’s appropriate. But we prefer not to advertise in a magazine issue where we also have editorial because it suggests a paid editorial. We may advertise in a subsequent issue.”

  • PR versus advertising - Factor in to your budgeting that publicity is worth more than advertising. Holloway says: “If we measured the cost-benefit on a straight dollar-for-dollar basis in terms of advertising space, we’re probably running on about a $4-return for each dollar spent on our PR consultant’s fees. A one-page article is equivalent to a page of paid ads. A good quality editorial that tells people this is the place to go for XYZ product or service delivers much more credibility.”

  • PR consultant selection - Choosing the right consultant is essential. Holloway says: “When selecting a PR consultant, I am more inclined to use referrals from others who have used the consultant rather than just look up the Yellow Pages. Remember, it’s got to be somebody you would enjoy spending some time with and someone who can get excited about your story and tell it well.”
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