Question

Topic: Strategy

Pr Vs Advertising, Which One Is More Efficient ?

Posted by Anonymous on 5/28/2014 at 9:52 PM ET 25 Points
Hi guys, I have a question that nowadays, banks are using both PR and advertising for promotion. So, which one of these two is more efficient and why ? BTW, does it depend on any conditions to compare these two ?
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RESPONSES

  • Posted by Gary Bloomer on 5/28/2014 at 10:27 PM Member
    Which one of these two is more efficient at doing what? One is paid for, the other (if you're lucky), is earned and redistributed. Promotion is slightly different in that it's a vehicle that states a simple set of facts: name, address, telephone number, website.

  • Posted on 5/29/2014 at 7:38 AM Author
    @Gary at getting more people to know and use the products of that bank. And do you know any examples about success or failure when doing pr and advertising ?
  • Posted by saul.dobney on 5/29/2014 at 8:04 AM Accepted
    PR and advertising are complementary. Advertising is totally in your control (message, image, placement) and relies on the reputation of the advertiser. PR is difficult to control, often sporadic and filtered through journalists and commentators, but it works because it builds on the trust people have towards independent writers. Both are well established with associations, magazines and annual awards running back over more than 50 years - I'm sure you'd be able to find some examples via Google.
  • Posted by Gary Bloomer on 5/29/2014 at 5:41 PM Accepted
    The NYPD recently had massive problems with negative PR through Twitter.

    As for people using the bank's products, what will these products do for people? Banks generally have gained themselves some pretty bad reputations of late: too big to fail, too broken to fix, lots of bail outs, lots of corruption and fat golden handshakes and no jail time … not even if you're HSBC and you launder money for international drug cartels.

    What makes THIS bank trustworthy?
  • Posted by mgoodman on 5/29/2014 at 6:06 PM Moderator
    There's effective advertising and not-so-effective advertising. Same for PR. Not sure there is any way to measure overall efficiency (or effectiveness) in a way that would really address your question.

    Why are you asking? What is the underlying issue? What will you do with our responses?
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