Real estate development companies considering public relations often wonder about its return on investment (ROI). Media relations efforts help build awareness and shape your reputation through consistent earned media coverage that differentiates and promotes your brand. The planning and execution of a PR strategy is a process that evolves over time and can help a company achieve increased brand recognition and credibility through a steady stream of media coverage across a variety of publications.
For homebuilders, developers, planners, architects, etc., PR offers key benefits, including:
Building brand awareness
When a PR company “pitches” your company’s story to the press and it results in media coverage, that’s called earned media. These types of mentions in coverage from a third party (as opposed to paid marketing placements coming from your company) help to build credibility and authenticity for your brand and reinforce your company’s growing presence in the public consciousness. And the more recognized your brand is, the easier it is to sell your product or service.
Print coverage is highly relevant, but an online article has the added advantage of a longer shelf life and shareability—it’s evergreen and can be clicked on and read for years to come. Online coverage also enhances search engine optimization (SEO) and ensures that more people see your company’s name and story when navigating the internet and reading their favorite publications.
Whether you’re looking to earn new clients, build interest in your master-planned community, or looking to sell homes, a contributed article, news coverage, or a written or recorded interview all count as positive PR that can attract interest in your business and product. Media coverage offers the public a detailed perspective on your brand’s selling points and the unique qualities that help you stand out from your competition.
Controlling the public narrative: building trust and credibility
For many companies, the road to achieving a strong brand often includes proactive media relations campaigns that allow them to take control of their narrative in the public eye. Through a planned strategy that may involve press release announcements, thought leadership content, or pitches offering interviews with company leaders, it’s possible to deliberately shape your company’s image and communicate your brand’s message to the world on your own terms. Instead of waiting for the media to react to a new project or company news and potentially leave you vulnerable to losing control of the narrative, it’s important to get in front of any potential news coverage with a preemptive media outreach that frames your company news in the best way possible for your brand.
The positive stories generated in print, online, or on TV from these efforts amplify your company’s purpose and highlight your project’s community benefits and contributions. This all builds public recognition, trust, and credibility— priceless benefits that can go a long way towards helping your next project get approved and built.
Reducing marketing costs
Unlike expensive paid advertising, which the public knows is generated by your company, earned media is free and gives your brand real third-party credibility. PR also focuses on telling compelling stories about your company or product—for instance, a master plan that offers a positive community impact or interesting architectural design—which can resonate more with audiences than traditional and costly marketing efforts often do.
Compared with advertising, a degree of control over your message is lost with PR coverage, as it relies on reporters and journalists to tell your story. But that is more than made up for by the level of credibility earned by having these trusted third parties endorse your brand. This kind of third-party validation is highly valued by the public and helps to authenticate your brand.
Managing crises
All companies should know that the question is not if a crisis will arise, but when it will. The factors and circumstances surrounding this inevitable occurrence are often beyond your control, and having PR experts available to quickly address problems of public perception is a worthwhile investment. Time is often vital in these situations, and a quick and effective media response could be the difference between a real crisis and preserving your company’s reputation and clients. Looking to elevate your marketing strategy? PR can be a game-changer. NewGround brings decades of experience crafting and executing custom PR plans that drive real results for builders, developers, planners and architects. Let’s talk about how we
