2023 will be a year of fresh restarts and opportunities amid uncertainties. With a myriad of expected changes and global trickle effects coming our way during this economic cycle, this year will see the need for an even more nimble business strategy.

With that comes the greater calling for a complementary communications approach. Compared to Multinational Corporations (MNCs), which are generally already well-versed in communications due to their industry experience and resource, identifying a strong communications approach this year will be key for start-ups and Small and Medium Enterprises (SMEs).

According to EY’s latest CEO Outlook Survey, half of Asia-Pacific businesses (surveyed companies’ annual global revenues ranged from around US$500 million to more than US$5 billion) across key sectors like manufacturing, finance, health sciences and technology are planning to pursue an acquisition this year.

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With these businesses’ scale, they are aware that now is the opportune moment to best capture market share and even edge out SMEs or early-stage companies.

SMEs: Small in scale, big in influence

However, scale is not everything, especially for industry innovators, regardless of their stage of business, which can effectively tap into strategic communications for PR. Yet, in today’s communications context, it is no longer the case of ‘any PR is good PR’ – and SMEs need to go beyond that to achieve business success.

But what does it mean to have a strategic communications approach? Essentially, this means that SMEs take a proactive stance instead of simply reacting to events or issues by implementing a well-planned approach to communicate through various platforms. In doing so, they can close the gap with larger competitors. Usually the go-to for industry thought leadership.

Proactively looking to share valuable insights and expertise with its audience provides valuable content. It demonstrates expertise for SMEs to establish themselves as leaders in their field and influence industry narratives while growing brand awareness and attracting new customers.

Planning your next steps

As the saying goes, ‘Fail to plan, plan to fail’. To kickstart a strategic communications plan, there are a few key steps:

Define your objectives: What do you want to achieve with your communication efforts? Objectives can include increasing brand awareness, driving sales, improving customer satisfaction, raising funds, attracting investment interest and more. It is important to lay out these objectives specifically as they will impact the subsequent considerations.
Identify your target audience: Who are you trying to reach through your communications? Understanding your audience will help you determine the most effective channels and tactics.
Determine your key messages: What do you want your audience to know, feel, or do as a result of your PR efforts? Clearly defining your key messages will help ensure that your communications are consistent and on-brand.
Using the right platforms: Which platforms will most effectively reach and engage your target audience to deliver your key messages? This could include traditional media outlets, social media, and speaking at events.

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Identifying the right content: One way to ensure businesses stay relevant and engage their audience is by creating interesting and relevant content. This can include blog posts, social media posts, press releases, and other communication materials. It is important to regularly assess the needs and interests of the target audience and to create content that resonates with them.
Setting a timeline: When will communications outreach take place? What are the relevant occasions you can angle your communications around, and when is the campaign slated to end? Having a clear timeline is important to stay organised and on track.
Metrics and analytics: Regularly measure and analyse the results of your outreach to determine what’s working and what isn’t – from share of voice (SOV) to key message pull-through and engagement. These metrics will help you fine-tune your strategy and make adjustments as needed.

Tapping on expertise

Gone are the days where PR and communications agencies purely focused on securing media coverage to grow their clients’ brand visibility without an aim. In the current economic climate, PR agencies must truly understand the respective sectors of their clients and the subject matter for information about the brand to be represented according to their business objectives.

With the right steps in place, SMEs who understand the investment into strategic communications will benefit from working with agencies to help identify and actualise their next steps.

Furthermore, with global instabilities abounding, SMEs not familiar with crises benefit from having a trusted partner manage and mitigate these situations. In today’s digital age, it’s more important than ever to have a plan for handling negative publicity or reputation management.

Setting the right communications goals will enable SMEs to find their voices while building and maintaining positive relationships with stakeholders. This will lead to increased brand awareness and loyalty from their target groups, which will be crucial in their stage of business in today’s economy.

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