The value of Public Relations, Digital Marketing, and Strategic Communications to the Space Industry: awareness, engagement, revenue.

Space industry leaders, influencers, champions, and communications professionals need to embrace the idea that incorporating digital marketing, public relations and strategic communications tools, tactics and processes in a comprehensive stakeholder relationship management program builds awareness through more effective and efficient branding, improves engagement and support with stakeholders, resulting in more revenue and cost savings to their organizations. This effort is conducted (i.e., researched, planned, implemented, and evaluated) within the Space Industry business ecosystem.

Investopedia describes a business ecosystem as the network of organizations—including suppliers, distributors, customers, competitors, government agencies, and so on—involved in the delivery of a specific product or service through both competition and cooperation. The idea is that each entity in the ecosystem affects and is affected by the others, creating a constantly evolving relationship in which each entity must be flexible and adaptable in order to survive, as in a biological ecosystem. Ecosystems create strong barriers to entry for new competition and Like natural ecosystems, the firms involved in business ecosystems compete for survival with adaptation and sometimes extinction.

The example in Figure one gives some sense of the complicated stakeholder environment with multiple relations and levels of power and influence, politically and economically, increasing regulation; with the ability to create and unlock value for all affected parties. 

The (New) Space Industry requires a new, aggressive, collaborative communication effort, involving simultaneous, individualized communication capabilities with multiple stakeholders, defined as those individuals or organizations with an interest or concern that can impact the success of your business.

Nurturing and fully exploiting the 21st Century Space Industry business ecosystem requires a proactive communications organization and process that provides:

  1. A clear and concise vision, mission, strategy, and measurable objectives for your organization; understood by all your stakeholders, not just your employees.
  • Digitally enabled two-way communications (i.e., a conversation) tailored to individual stakeholder interests and concerns.
  • Digitally enabled two-way communications (i.e., a conversation) tailored to individual stakeholder interests and concerns.

To be successful in communications Space industry leaders, influencers and communicators need to understand and manage eight communication areas critical to an emerging and evolving space industry:

  • Brand/Product Marketing
  • Reputation Building
  • Issues Advocacy and Support
  • Employee Engagement
  • Investor Relations
  • Crisis and Issues Management
  • Public Education/Not-for-Profit
  • Social/Community Engagement

Additionally, Space Industry communicators must be alert to new communication technologies that will significantly impact stakeholder relationship management and engagement. With the entry of new AI-enabled digital communication tools, techniques and processes, an organization’s ability to stay connected to individual stakeholders is now much easier, more timely and more detailed in its understanding of individual stakeholder personalities, requirements, and concerns.

A dedicated communications program ensures revenue when you want it and advocacy when you need it.