Forms of Advertising
There are two different forms of advertising, viz. inbound and outbound.
Inbound: In this digital age, inbound advertising has become a common strategy. This technique helps attract potential customers towards the products and services through various marketing efforts, be it social media, blogs, opt-in emails, content, or SEO. When customers need service or a product in a particular sector or when they find the concerned company is trying to access its products or services.
Outbound: Outbound advertising is a more traditional method, where the company starts the communication process, and the message is sent out to the public. Examples would be cold calling potential customers, print ads, and radio ads. Audiences can see outbound practices in many places; however, the cost could be high with no guarantee of a return in terms of profits. There would be difficulty in tracking the return on investments as well as the various campaigns.
Difference in Cost between Advertising and Public Relations
The cost difference is due to numerous factors, but normally advertising costs are greater than public relations costs. Advertisements are paid media that run over a specific period to achieve the businessâ€™s pre-planned objectives. For example, a Facebook ad campaign with a budget allocated to divert traffic to a page would cease to do so once the budget has been completed. On the other hand, even though a full-page spread of a magazine would cost a lot, with the costs of covering the space, duration, and creative designs, they would often have better credibility. Most advertisements need to be shown multiple times to notice them and are influenced by the content.
On the other hand, public relations campaigns are published once and not re-used again like advertisements. However, the positive effects of press coverage in this digital age can be extended when shared and published on multiple platforms strategically.
Advertising and Public Relations During Events
During times wherein a brand sponsors an event, they cannot release an ad praising itself. That is where the PR department steps in and takes it ahead. Send out a press release, and the news media might take it up and give the brand positive press exposure.