Will My Marketing Idea Work? Advertising vs. PR

Will this marketing strategy be successful? This is a question I am frequently asked by the entrepreneurs I train. The never-ending puzzle of where to spend time, energy, and resources to ensure people seek out to learn about and buy from us keeps us awake at night. When an entrepreneur asks me this question, I immediately associate the term marketing with advertising and public relations (PR). All three words are used interchangeably, with the idea that they mean the same thing. As I delve into this issue and offer my experiences, I make certain that the three separate phrases are clearly defined so that an entrepreneur knows exactly what they want to concentrate on.

“Will this marketing idea work?”, really means: “Will my investment of time, energy, money, and people resources produce business now, and forever?”

Marketing is the communication of your message, idea, product, service, company and its culture to your market.  This can be done through various types of communication methods, such as visual, written, auditory, and tactical.  These methods can be combined to form a type of media to communicate your message, such as radio, television, YouTube, the M & E Painting Sign Guy, helping an old lady across the street while wearing your logo on your companies hat, your company landing in the newspaper (hopefully the business section not the police blotter), on television, writing a book, etc.  There are hundreds of medias to communicate your message, and there are two vehicles through which they travel, but only one of these two vehicles, in my experience, works better and long term.

The rusted-out car is paid advertising: your firm pays another company (a lot of money) to create a message, offer, coupon, or other item to disseminate to your target market. Paid advertising raises awareness rather than trust. It is costly and wastes money as your firm grows. It’s a crowded, noisy, and busy place full of sharks vying for the same piece of flesh dropping to the bottom of the ocean; and it’s just you talking about yourself. (To be honest, paid advertising does generate visibility, so if that’s all you’re looking for, this way will suffice.)

The reliable, always running vehicle that builds trust, elevates you and creates faith in your brand is PR, or public relations. PR gets others talking about you so you can stop talking about yourself.  The only investment here is a little time, a great story, and simple action steps that when repeated daily will land you the most credible, trust building exposure for you and your brand. The space is vast, filled with opportunity and is not crowded at all.  As other sharks fight at the bottom for the scraps of flesh falling their way, remember the scraps are produced because PR is that first big meaty chunk sitting at the top of the surface that the informed entrepreneurs grab and chomp up.

Example: Emily and I were featured in Entrepreneur Magazine in August of 2010.  This was a full color piece, with a story (PR) about our company in one of the leading entrepreneurial publications in the world.  We paid $0 for this.  A few pages over, a large franchise company ran a paid piece (advertising) costing roughly $80,000.  Same time, same full color, same full page, same magazine, same audience.  What did I spend? I spent 15 minutes to land this, plus 90 minutes for a really cool and fun photo shoot.

Will this marketing strategy be successful? What are your goals for developing your brand? What message do you want to send to your clients? How much are you willing to pay for it? Would you pay for something if you could receive it free? Do you desire immediate purchase action, long-term brand trust, or both? Do you wish to compete with other companies and large sums of money for the same customer’s attention? Do you want the big, fat, meaty chunk of business, and are you willing to swim to the top to get it, or would you rather fight at the bottom, investing time, energy, and a lot of money to fight the other sharks? If you want to fight sharks, keep in mind which shark always wins and how much money that shark must have in the bank. Remember, no matter how much money you invest into that old, broken-down, rusted automobile, it will eventually fail you, leaving you feeling abandoned.

Of course, I would never write this blog and not leave you with a way to find out how I landed this big piece of meaty magazine tastiness. Click on the coffee cup and get caffeinated with me on a weekly basis. When you do, I will send you a workbook that details exactally how M & E Painting and I landed some of the countries most coveted small business and entrepreneur awards, and received millions of dollars of exposure for FREE.

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