logo

Relationship Between Crowdfunding and PR

9 Pages2854 Words30 Views
   

Added on  2020-01-23

About This Document

Crowdfunding is a new method of raising finance from a large number of people and it helps in funding the projects and ventures. On the contrary, Galuszka and Brzozowska, 2015, believes that "PR is also a marketing, advertising and communication strategy that helps an organisation to deliver its message to the public " (Galuszka and Brzozowska, 2015).

Relationship Between Crowdfunding and PR

   Added on 2020-01-23

ShareRelated Documents
Relationship BetweenCrowdfunding and PR
Relationship Between Crowdfunding and PR_1
Table of ContentsINTRODUCTION...........................................................................................................................1CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
Relationship Between Crowdfunding and PR_2
INTRODUCTIONCrowdfunding and Public Relations (PR) are closely related to each other. PR has greatinfluence on the crowdfunding activities and campaigns. Crowdfunding is a new method ofraising finance from a large number of people and it helps in funding the projects and ventures.Public relations is attempt to include the public with the company and maintain goodrelationships with them (Ahlers and et.al., 2015). PR is done in order to inform the public abouttheir potential customers, employees, investors, partners, stakeholders and product or politicaldecision that the company is going to take. PR plays an important role in crowd fundingcampaigns as it build connections and relations with the public. It builds the reputation of thecompany and improves the customer loyalty towards the brand (Pais and Castrataro, 2014).Crowdfunding becomes more effective with the help of good PR relations as it makes the brandlook more trustworthy and valuable. It has been seen that those companies which has better PRstrategies are more successful in raising funds from crowdfunding. They have better crowd whoare interested in the company and are ready to support the company financially as well. Goodpublic relations allow the company to take advantage of their image and get the much neededhelp from the public and other stakeholders. According to Hemer, 2011, "PR is a tool to build connections with the local people "(Hemer, 2011). Earlier PR was only limited to media and press. But the emergence of socialmedia and the internet has made it very important for all the business. It has taken the brands andtheir products to anew level. It not only builds good relations with the public but also helps inbuilding good image and helps in handling crisis management. Similarly, Lehner, 2014, quotedthat PR is all about "Value, reputation and building relations" (Lehner, 2014). There are expertsin the organisation which have responsibilities like writing contents, news, designingcommunication activities, working with press, interviews,writing content on social media and allother activities to understand the interest of the public at large. On the contrary, Galuszka andBrzozowska, 2015, believes that "PR is also a marketing, advertising and communicationstrategy that helps an organisation to deliver its message to the public " (Galuszka andBrzozowska, 2015). The public includes customers, suppliers, employees, media, social medianetworks, government and the community. PR has always been an important element inmarketing and communication activities of an organisation. It keep the company engaged withthe public which builds its corporate image in the society. It also helps in crisis management but1
Relationship Between Crowdfunding and PR_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
PRL 40103 Public Relations Assignment - Malaysia
|23
|5887
|617

The Role of Public Relations in Building Image and Reputation for Politicians
|38
|10611
|32

Public Communication in the Context of Coles
|12
|663
|57

Funding Decision Process of Social Economy
|4
|677
|21

Promotional Content for Funding and Placing
|12
|711
|44

Communications Public Relations - Doc
|5
|1023
|40