The value of PR is elusive to those who may not yet have discovered its power in a failing market. Across the luxury sector, companies have gone one of three ways with regards to their PR and communications expenditure: Cutting budgets significantly, completely or investing more with a view to increasing their share of voice as their competitors drop off.

This period of time will be changeable, unpredictable and often difficult with job losses, slow-moving business and limited international trade. But the evolution of the market into the ‘new normal’ will depend on consumer-savvy communications strategies which require further investment into the PR professionals who can future-proof the brands in their stables.

Considering a ‘humanitarian’ approach at this stage in your communications strategy will earn you the respect from your consumer, and their business as we outride market uncertainty. To weather the imminent storm brewing on the horizon of economic forecasts in the wake of Covid-19, the first thing a PR professional will ensure is that your business messaging focuses on value over profit. This may sound counterintuitive for your projected ROIs, but the crucial point to understand is that this strategy will secure your financial bounce back as the market depression alleviates. The quiet period the sector is expecting will provide ample time for your demographic to lose sight of your messaging, USPs and brand identity if you decide to withdraw PR your spend. So, using this period to speak to the right cohorts, piquing their interest and keeping your offering in mind for the future should be every brand’s primary objective in the coming months.

This involves focusing on the development of your humanitarian messaging to ensure it ‘stacks up’ against the backdrop of great economic downturn and public fears. According to the Endelman Trust Barometer 2020, brands with consumer trust also enjoy stronger advocacy amongst their buyers, higher resilience against risk and a greater share of voice in the editorial media.

Consumer trust and its many value-based benefits (as opposed to immediate profit-based benefits) will be achieved and pioneered by a PR professional, and the sooner you can establish these relationships, the better. From creating nuanced, sensitive and on-brand copy to amplifying these messages in the press, your communications expert can lead you through this lull and into the economic bounce back, ensuring long-term revenue generation.

Your ‘humanitarian’ messaging needn’t be confined to traditional communications platforms. In Q1 of 2020, Instagram reported a 13-15% increase in social media usage on Friday and Saturday nights. What this means is that, from a brand perspective, companies have a captive audience on social media that are engaging with digital content more actively than ever. Now is a better time than ever to be posting relevant, engaging and on-brand content to ramp up your value-based messaging. Motivational, aspirational content, memories, industry news from around the world and anything informative for your followers and your employees will be well received.

This stage of our global Covid-19 economic recovery provides an unprecedented opportunity to speak to your customers from the heart. Investing in a long-term PR strategy will ensure your place in the market based on a solid foundation of consumer trust.