Public Relations Strategy

April 2nd, 2011 by admin No comments »

Public Relations Strategy PhotoA public relations (PR) strategy may play a key role in an organization’s promotional strategy. A planned approach to leveraging public relations opportunities can be just as important as advertising and sales promotions. Public relations are one of the most effective methods to communicate and relate to the market. It is powerful and, once things are in motion, it can be the most cost effective of all promotional activities. In some cases, it is free. Public relations involve a variety of programs designed to maintain or enhance a company’s image and the products and services it offers. Successful implementation of an effective public relations strategy can be a critical component to a marketing plan.

The success of well executed PR plans can be seen through several organizations that have made it a central focus of their promotional strategy. Paul Newman’s Salad Dressing, The Body Shop, and Ben & Jerry’s Ice Cream have positioned their organizations through effective PR strategies. Intel, Sprint and Microsoft have leveraged public relations to introduce and promote new products and services. Similar to the foundational goals of marketing, effective public relations seeks to communicate information to:

• Launch new products and services.

• Reposition a product or service.

• Create or increase interest in a product, service, or brand.

• Influence specific target groups.

• Defend products or services that have suffered from negative press or perception.

• Enhance the firm’s overall image.

The result of an effective public relations strategy is to generate additional revenue through greater awareness and information for the products and services an organization offers.

Three Levels Of Performance You Must Consider When Tracking The Business Plan

March 31st, 2011 by admin No comments »

Three Levels Of Performance You Must Consider When Tracking The Business Plan PhotoCompanies spend a lot of money and effort writing, publishing, and distributing their annual report. You may make the report simple or detailed, depending on your desire and intent. In establishing the next operational plan, year two of the ten years, repeat the process of setting tasks as you did with the first operational plan and the related action plan list. Each year you rebuild your operational plan based on what you are trying to accomplish in the one-year period against the ten-year goals. This means your plan’s time span is getting shorter each year. The common trap is to also extend the life of the business plan by one year—always keeping a ten-year time frame. This is dangerous because you fall into the trap of strategic planning creep.

Allow your plan to perform or mature for a number of years before you move the ten-year goals. It seems that you will get three or four years completed on their ten-year business plan before they move the end goals. This allows them to check assumptions, qualify the accuracy of their numbers, and measure their sustained performance. The recommendation, therefore, is to let your plan run a few years before radically shifting goals. Minor adjustments are necessary and acceptable, but don’t abandon your goals and plans in the first year.

There are three levels of performance you must consider when formally tracking your business plan. The performance is tied specifically to the annual targets of the business plan. This standard keeps each level focused on doing mission-essential work, not extraneous, fun activities. These levels are:

  • Level 1. Organizational performance (business plan track)
  • Level 2. Team performance (business plan track)
  • Level 3. Individual performance (performance review program)