PR contributes more to the value of a brand than advertising. That is the conclusion of a new study into the success of PR and advertising initiatives.
Results of analysis, which was carried out on behalf of PR consultancy Text 100 by its research arm Context Analytics, reveal that almost 30% of a brand's financial value is dictated by how much and how often it gets exposure in the press.
PR has a particularly powerful influence on the brand value of more sophisticated products where research by the consumer weighed more significantly on the purchasing decision.
These include products such as computing, automotive, consumer electronics and financial services, where media exposure can account for up to 47% of brand value.
By contrast, ads were found to be relatively ineffective in the area of complex products and services, with advertising investment boosting brand value by as little as two per cent in some cases.
Text 100's regional consultancy director for Asia Pacific, Rowan Benecke, said that the more complex a product was, the more likely people were to trust earned, as opposed to paid, media.
And that sums up perfectly the very essence of public relations: namely the all-important third-party credibility that PR brings to a product.
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