Thomas Friedman recently wrote in a New York Times opinion piece, somewhat tongue-in-cheek, that he feels compelled to personally urge strangers he sees in restaurants to go home, save their money and stop eating out, because “the financial crisis is so far from over.” I could not disagree more.

I cannot stress enough how much we are hurting our economy by believing the worse is yet to come. I agree with Mr. Friedman that we cannot afford to wait until February for the government to start fixing the economy. But Friedman's comment about eating tuna fish at home and saving our money is a little extreme and actually very bad advice.

Several months ago when I was talking to my friend about the financial crisis, I told him that the economy would was going to get really bad and I referred him to “Conquer the Crash,” by Robert R. Prechter Jr. My friend told me that the savings and loan crisis was worse; I disagreed and argued that because of the global nature of the current economy and because of the Internet, the financial crisis had spread worldwide and would be much worse than the S&L crisis.

Now, months after that conversation, my friend, like Mr. Friedman, is playing the role of Chicken Little and telling me that the financial crisis is going to get much worse, and that it might take 20 years for the economy to pick up. He points out that it took the U.S. 20 years to recover from the Great Depression, circa 1929.

As a PR professional that deals with software to make communications more effective, efficient and deliver a better ROI, I respectfully disagree. I think with technology and globalization, our economy’s risk and damage is mitigated because it is not just a U.S. issue, but a global one, and therefore our recovery should be faster. Today, if you can't raise money in the U.S., you can find investors in the Middle East, for example. This was not possible in 1929. As a result, our recovery should be a lot faster.

So how does this tie back to PR? The answer is simple--members of the media need to carefully consider and be more responsible with what they say. Yes, there are millions of Americans that are getting laid off and losing their homes because of the financial crisis. Yes, the government needs to step in immediately, effectively and efficiently. However, aside from putting pressure on our government to act, we can each help the US economy by opening our purses and start shopping. Japan is a perfect example: A very thrifty culture with an economy that is stagnating. What we need now is a PR campaign where we work with the press to get Americans to shop and rebuild their confidence in the economy.

The last thing we need is the negativism and sky-is-falling mentality out there. If you want to fix the U.S. economy, go out and start shopping! Go out and go for that nice dinner! Go out and buy that winter coat or handbag or car that you need.

Big Three CEOs

Two recent stories caught my eye yesterday:  One was the recent story on the CEOs of the Big Three automakers testifying before Congress. The New York Post, among others, pointed out their PR cluelessness in flying private jets to Washington to ask for taxpayers' bailout funds. You have to wonder if their public relations people failed by not anticipating the line of questioning from an irate Congressman that unveiled the corporate airplane tidbit.

Palin Blunder

The other was a lighthearted media interview given by Alaska Govenor Palin granting a turkey pardon on Thanksgiving.  The Rachel Maddow Show and others pointed out to Palin's PR cluelessness because while she was being interviewed by a TV reporter, behind her was a worker graphically killing the other turkeys for Thanksgiving.  While watching the Palin news clip, I said to my friend, "Where is her PR person?"

The PR professional's honesty, and sometimes brutal honesty, is needed by the client....  Also, where are the PR people here?  They should have protected their clients!"

Below is the article on the auto bailout from the NY Post:

November 20, 2008 --

Cost of jetting to high-level meeting in Washington from Detroit:

$20,000.

Reaction to clueless auto-industry honchos who then begged for taxpayer

bailout: priceless.

"Couldn't you all have downgraded to first class or jet-pooled or something to get here?" sniped Rep. Gary Ackerman (D-NY), at the chief executive officers of Ford, Chrysler and General Motors during yesterday's hearing of the House Financial Services Committee.

"It would have at least sent a message that you do get it." Read the rest of this entry »

It's Nov. 13, 2008. We are in a financial crisis and companies big and small are trying to increase revenue and cut spending. After having my own PR agency and working with a number of fast-growing companies, PR is still the best way to get the greatest return on investment! Now, in this economy, it’s more important than ever to leverage the power of PR to promote your company.

Below is a list of Top 10 tips for companies of all sizes to expand their influencer network using PR:

1. Create an interactive relationship with your key audiences. Now with the emergence of social media, it’s easier than ever to establish an interactive link with your audience where they can easily access your information and keep you in mind. The goal is you want to maximize the top-of-mind awareness for your company with your audience!
2. Effective public relations, including media relations, is a two-way street. Virtual press rooms and interactive press rooms are a great way for you to update your audience members without being in their face. A number of solutions are FREE and companies should definitely take advantage of them!
3. Utilize your networks and share your expertise. Build your company’s awareness and authority by creating a leadership platform around your company’s unique expertise.
4. Start a blog. If you have the expertise, consider casting yourself as an insider; offering how-to tips or sharing other helpful knowledge about your industry.
5. Think of your PR plan of attack and who you want to target. Successful PR is all about targeting the right reporters/ influencers and having them sing your company's praises. The more targeted you are, the more successful your chances are of getting a reporter to respond to your pitch. Read the rest of this entry »