Public Relations and Market Invention
“We need public relations!” We hear this command frequently from big and small organizations across the country. However, we promptly question what exactly they’re seeking. Every organization needs a smart PR strategy, but most don’t know exactly how.
Public relations is not advertising or sponsored content, and it’s more than crisis management. Public relations is the process of managing reputations, telling meaningful stories and steering the conversation about an organization.
As S.H. Simmons put it, “If a young man tells his date how handsome, smart, and successful he is — that’s advertising. If the young man tells his date she’s intelligent, looks lovely, and is a great conversationalist, he’s saying the right things to the right person and that’s marketing. If someone else tells the young woman how handsome, smart, and successful her date is — that’s PR.”
At Merit, public relations just became much more impactful with the addition of Market Invention.
Market Invention is the single most powerful move an organization can make to future-proof its business and set their brand apart from competition. The principles of Market Invention are behind companies like HubSpot, Peloton, Airbnb, and Dollar Shave Club.
For Market Invention to ultimately be successful, a unique, complementary PR approach is critical and mandatory. If you’re trying to connect with a target audience in a new way, you need a strategic shift in messaging, channels, and tactics. With some creativity and original thinking, the public relations shift can even be a market invention by itself.
If you’re attempting to invent new opportunities and exceptionally set your company apart, a concerted public relations effort will be a key component to that effort. To learn more about the Market Invention process and the role of public relations, continue reading here.
The Process Behind Disruption
Disruption might be the biggest business bandwagon of all time. But ask most people what their idea of disruption is, and they’ll stare at you with a blank look or start rattling off a set of disjointed ideas.
Why Turnaround Specialists Need Market Invention
Turnaround specialists can be called in at all stages of failure, from decreasing working capital to impending bankruptcy. While the work of a turnaround specialist in these situations is irreplaceable, it can be effectively supplemented by incorporating Merit’s Market Invention strategy. This unique partnership turns a rather dire situation into a net positive by implementing change and inventing a new opportunity for a business to not only survive, but to thrive.
Video and Market Invention
You’ve probably heard of Market Invention, the strategic process of creating new markets through a shift in audience, category, channel, or branding. It’s the discipline behind disruption, and it rests on good communication. That’s where video comes in.
Web Design and Market Invention
Web designers are the architects that create the visual elements of the site, the stuff the user sees. Web developers create the functionality that works in the background. When working together, the two disciplines deliver a seamless, clean experience that ignites a buyer’s interest.
Design and Market Invention
Understanding how to use—or not use—design archetypes is at the core of a well-planned Market Invention strategy. Market Invention can use a shift in brand imaging or messaging to pivot into a new market and target unreached customers.
Five Lessons From the Growing Artisan Economy
We hear a lot about the artisan economy. It’s a movement towards personalized, hand-made, small-scale production that has been gaining lots of momentum in the US. So much momentum, in fact, that artisans are taking a measurable chip out of mid-sized manufacturers. According to the Inter-American Development Bank, if the artisan economy were a country, it would have the fourth largest economy in the world. While larger sized businesses obviously cannot compete with some aspects of the artisan economy, they can certainly reflect on some of the principles that are propelling artisan growth and apply them to their own organizations.