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Social networking as a public relations tool is now the hottest thing. It's only a matter of time, however, until public relations firms realize they have exhausted social networks as a medium for reaching new people. Sure they are still “preaching to the choir” and that has some purpose, but the “Law of Diminishing Return” means that firms will have to start seeking new strategies and outlets to reach the large section of the potential customer population not using social media.
Carl Bialik, in a February 11, 2012 article in the Wall Street Journal opined that public opinion research is at a difficult crossroads. Phone surveys of the past are increasingly difficult to conduct due to caller ID, other technological blocks, and the growth of cell phones replacing the home phone. He notes, however, there are hundreds of millions of social networking site users, posting information for the whole world to see and suggests that this may be the tool of the future.
Unfortunately, some online promotional campaigns have gone awry recently, forcing corporations to cut their losses and perform damage control. As easy as it seems to get promotional messages out on the internet, it is just as easy – if not easier - for negative feedback to spread like a Colorado wildfire. As public as failed campaigns can be, there are many more firms doing excellent online marketing.
Today's growing PR firms aren't necessarily those of the past, nor like those from popular films and television shows. Small startups, former top firm employees and people working from home offices are competing with established firms. This increased competition and ease of entering the market have caused fees to drop significantly, which is great for clients, but not so good for PR firms.
It is well known and accepted that a PR firm's main goal is to create value for their clients by making them feel like their marketing dollars are well spent and that there is a generally favorable image of the business in the world at large. But when it comes to social marketing, if the ultimate measure of success is to create viral content, then established large firms will have a tough time competing against the nimble, nothing-to-lose, small operations that luck into massive marketing hits for their clients.
Rapidly shifting social trends will quickly leave inattentive, inflexible firms in the dust. This is why we see and expansion of the idea of many small units within large companies catching on. Grocery stores develop boutique sections (aka green grocer and butcher shop) within the larger retail space. PR firms would do well to learn from this.
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