Comments on: Will Social Media Help PR Weather the Storm?

By: Casey Simon

Casey Simon — Tue, 14 Oct 2008 14:02:43 +0000

I agree that the introduction of social media is helping keep the importance of PR at the forefront. Just because there’s a recession in the economy, doesn’t mean that there’s a recession in the amount of people using social media tools. In fact, I’d venture to guess that an economic recession may be DRIVING people to social media as a way to vent frustrations/thoughts/opinions etc. Who better to tap into these outlets than PR practitioners? We already know the trends and we’re already trained in using this tool. How silly would it be for companies to cut this valuable resource?

By: PR Squared

PR Squared — Tue, 14 Oct 2008 01:16:27 +0000

“Cut the PR Agency? Are You *Sure* About That?”

It happened today. The economic angst whacked our agency upside the head. We now have our first example of a client who’s asked to terminate our contract “strictly as a precaution driven by economic uncertainty.” It seems …

By: Silicon Valley Watcher - reporting on the business of technology and media

Silicon Valley Watcher - reporting on the business of technology and media — Mon, 13 Oct 2008 19:52:11 +0000

We’ve been here before – boom and bust in Silicon Valley

I arrived in Silicon Valley in 1984 just after the PC bubble had popped. It was all doom and gloom at the time, there were stories about how Silicon Valley was washed up, and that innovation would move elsewhere. There have been many boom and busts in …

By: Mukund Mohan

Mukund Mohan — Fri, 10 Oct 2008 07:40:57 +0000

Todd
During the last downturn, SEO, PPC and PR were the only areas marketing budgets were being focused on. Why? They are considered
to be “cheaper” – unfortunate, but true.

I think the ROI portion of social media albeit important, becomes a secondary discussion during a recession. It becomes all about cost containment towards achieving the goal. So lets say the CEO says our goal is to go from 23% marketshare to 29% next year, the marketing folks are told to get there with the least possible money.

For them at that point the question of ROI is less important than making the goal at that budget.

By: Adrian Chan

Adrian Chan — Fri, 10 Oct 2008 01:56:54 +0000

Thanks Todd for sparking an illuminating discussion here. I’m with Mike McGrath: social media is cost effective, and at times like this, I think, an increasingly important part of the mix. Why? Because the financial climate has changed; consumers have new concerns, and will behave differently than they have in the past.

If there’s ever a time to listen to consumers, it’s now. And social media can be useful not only in cost-effective access to consumers, but in learning from them also. It will be critical that brands understand how to communicate to consumers in a changed marketplace — communicating and listening, particularly, are how that gets started.

By: Shel Holtz

Shel Holtz — Wed, 08 Oct 2008 23:56:05 +0000

It’s also worth noting that, in previous significant economic downturns, a significant number of companies shifted dollars out of advertising and into PR because it’s less expense and easier to quantify results. PR generally tends to do well in bad economic times, social media or not.

By: Jon-Mikel Bailey

Jon-Mikel Bailey — Wed, 08 Oct 2008 14:39:38 +0000

Funny you should mention it… I just participated in a panel discussion with downtown Frederick, MD business owners about using social media to reach their customers effectively and inexpensively. Smart companies will use and even exploit the tools available.

By: Peter Korchnak

Peter Korchnak — Tue, 07 Oct 2008 21:51:01 +0000

Great post, thanks!

I agree social media is a tool. Whether it weathers the storm or not depends on whether or not it’s used and how. Think of the many ways you could use a hammer…

At the same time, social media only exists when in use, when we participate, contribute, share. In short, cultivate relationships. Consistency at any time, recession or not, can go a long way. Drop out and you shall be dropped.

By: Chel

Chel — Tue, 07 Oct 2008 21:44:19 +0000

I’m feeling ill about the fact that the economy is struggling and worried about a few friends, but I think that PR firms might weather this one rather well as companies turn to low cost ways of marketing their products/services/etc.

Additionally I think that small web 2.0 companies are going to be a better investment at the moment than stock markets so we’re likely to see an increase in funding those versus trading stocks.

It’ll be interesting to watch either way.

By: Comm Unplugged

Comm Unplugged — Tue, 07 Oct 2008 06:40:50 +0000

Using Social Media In Economic Downturn

Todd Defren shared how social media may play a critical role in this economic downturn, and it’s a reasonable cause to be concerned about. How do you retain your current customers when times are bad? You do not want to remain stagnant, so how do …