Business Half Hour (BHH Podcast) is a weekly podcast targeted at Startups and Entrepreneurs who are redefining the Nigerian business scene through innovation.
On this episode of the BHH Podcast, Bukola and Taiwo had the CEO of RHABE FOODS discuss on opportunities and challenges of food processing and packaging business in Nigeria.
[LISTEN ALSO: BHH Podcast: Uche Egele on opportunities and challenges of small scale leather business in Nigeria]
Commercial Banks are still a major competition to Mortgage Banks in Nigeria
How PR can transform the future and profitability of a business – CEO, Mosron Communications
Tolulope Olorundero, a PR expert and Strategic & Communication Consultant highlights how businesses can profit from public relations.
Public Relations is one of the most effective ways to build on marketing strategies and create a solid online reputation. Companies that have caught onto this are investing a tremendous amount of time and effort into staying on top of their PR strategies, and they are seeing even larger returns with better ROI.
Public relations is about sending the right messages to the right place and the right people, creating a stronger brand reputation. PR agencies work alongside their clients to help them achieve this and promote them within their client’s industries. PR is an area that can transform the future and profitability of a business. Used properly, PR can give a company the ability to overcome almost any obstacle it may face. This is some of what makes PR so essential.
Seating on the hot seat of Nairametrics’ Business Half Hour, Tolulope Olorundero, a PR expert and Strategic & Communication Consultant highlights how businesses can profit from public relations. Olorundero has exceptional skills in Crisis Management and Digital Communication. She is the Founder & Principal Consultant at Mosron Communications and the Chairperson of the Association of Nigerian Women in Public Relations.
“I have always loved to read books, so I started as an editor while I was in secondary school. My father was a journalist and he usually comes home with newspapers, so the first thing I would do is to pick up the newspaper and check out some errors. It was just not working well for me that all I can see were errors. So that was what conditioned me to know what to look out for when something is not written well in a book. Bottomline is that it inspired my interest to become an editor. So, when I got to the university, I was editing materials for my course mates, I was also head of publicity for my local church in school and apparently, I decided to do things around public relations. So Mosron communications started as an editorial company,” she said.
Mosron Communications is a public relations consulting firm that provides public relations & communication services to businesses, organizations, and service brands across sub-Saharan Africa. According to Olorundero, Mosron communications started full-time in January 2019, though she had it as a side hustle as an editorial company since 2016. She later steered the company to a public relations company in 2019, as both are interwoven as there is no way one can say he or she is a public relations person, and not be able to write or edit content.
Speaking about funding as it relates to her business, she said when she started, there was no funding, and it was completely a bootstrap. Though her business started as a side hustle, during this period she had a full-time job, and she was able to save up part of her salary. Also, when she started her PR firm full-time, she had to convert a room in her house to an office to enable her to save the cost of renting an office space.
Speaking further on public relations, she said what motivated her to follow the path of PR was that people are digitally connected in today’s world, and PR helps companies to create a strong online presence that is highly visible to their target audience. Therefore, PR agencies provide businesses with support and guidance to help them market themselves online while being constantly ready to step in when a disaster occurs, or something threatens to damage the image of the company.
During the session, Olorundero mentioned that some people have this misconception that public relation is media relations. She made it clear that there is a need to let the business public and even the public know that there is more to public relations than media relations. Speaking further, she stated that there are four cultural things in terms of value propositions from a communications PR perspective. And they are.
- Corporate communications.
- Stakeholder management.
- Corporate event management.
- Reputation management
She explained that the role of Corporate Communication from a PR perspective has to do with building relationships with customers and responding to inquiries from the public. She emphasised that the duties in this area include producing newsletters, brochures, and other printed materials designed for the public. Corporate communicators manage a company’s website and social media presence, which includes monitoring what customers and clients are saying about the company on social networking websites and responding to inaccurate posts or requests for information.
Also, she said communication professionals are responsible for responding directly to calls and emails from customers with questions about a company’s plans or activities.
For Stakeholder Management, she said effective management of relationships with stakeholders is crucial to resolving issues facing organizations. She stated that stakeholders hold the key to the business and social environment in which organization operates and therefore its subsequent financial and operating performance. Thus, the effective management of stakeholder relations should be an essential focus of PR and organizational activity.
Speaking further on the third value proposition from a communications PR perspective which is Corporate Event Management, she asserted that while a company will most likely have an events manager, the function usually comes under public relations as conferences, exhibitions, and events are designed to generate publicity as well as generate sales leads.
The company may sponsor sports, arts, media, education, science and social projects and institutions, and TV programmes. Events are often linked to sponsorship. A company can sponsor an event or organise its own events, for example, for its sales team, its clients and prospects, its personnel, its distribution network, etc.
Lastly, for Reputation Management, she indicated that it is their incorporating efforts and campaigns to bury negative reviews, information, or search results and promote content that positively accentuates the desired image.
In addition, she advised business owners, corporate organizations & entrepreneurs on the importance of public relations, saying it aids businesses when it comes to online visibility and brand management. She said in this part of the world everybody thinks they can handle their PR themselves and some might end up diminishing their brand at the course of doing so.
However, it is crucial for you to hire an experienced hand to manage the Public Relations of your company as PR is an area that can transform the future and profitability of your business.
Using Digital Banking to finance businesses | Sola Akindolu, CEO Trybrass | BHH