Introduction

The communication and marketing industries are going through some of the most incredible and dramatic transformations in decades. Public relations (PR) as a powerful tool of marketing strategy is totally involved in today’s upgrading process. According to the current trends of the rapidly evolving world, PR industry needs to be reinvented in order to keep its influence on people’s relationships with organizations.

First of all, the underlying shifts cover changing communications technologies and consumers’ perceptions. In fact, PR is about conversation between company and consumers and the New Media landscape, in which Social media is taking the most important part, is a tool of facilitating this conversation. Today Social media force practitioners to change the way how they practice PR. Our research paper deals with new modern facets of PR, which can give companies the opportunities of winning more business. All the above mentioned makes our research worktopical, so we chose the topic “Social media as a tool of reinventing the traditional model of business public relations”.

The aim of our research paper is to define the essence of traditional concept of PR, the features of its evaluation to the concept of The New PR; to analyze new facets of the future PR; to find out the effective tools and techniques of participating in Social media. According to the aim we set the following tasks:

- to observe the traditional model of PR business;

- to determine preconditions of the modern PR industry transformation;

- to analyze today’s customers perceptions of the input messages;

- to observe changes of media landscape;

- to analyze the concept of The New PR;

- to develop the ways of facilitating the conversations between companies and customers;

- to observe the features of Ukrainian social media landscape.

The object of our research is swiftly changing the traditional domain of PR.

The subject of our research is the ways of the participating in social media in order to reinvent the aging business of PR.

The methods used in our research paper are theoretical: analysis, comparison and systematization of scientists’ points of view, analysis of the scientific economic literature.

There are some professionals who worked in the same direction. Among them are an American industry analyst Brian Solis, Swedish marketing author Stefan Engeseth, American marketing professionals and authors Al and Laura Ries and Australian economist and entrepreneur Ross Dawson. They studied this process of transforming the traditional concept of PR, its preconditions, using social media as a tool of reinventing the aging business of PR etc.

As for novelty of the topic, it should be said, that it isn’t new in the marketing, but it hasn’t been studied properly yet. Even though Social Media is eliciting corporate participation and engagement, a lot of companies hesitate because of a variety of factors, including fear, disbelief, underestimation, lack of ROI (return of investment) and metrics, plain old misunderstanding, misperceptions, or a combination of all these. Our research paper covers all these problems and determines the true value of The New PR.

Written in a clear style and language, this paper covers a number of important problems. The practical value of this paper is that it will be of great interest to those concerned with the problems of reinventing the business of PR as it brings together many useful data and a wealth of ideas for the future development of the above mentioned problem. We expect the abstract will stimulate further studies as well as catch attention of the general public.

Our research paper consists of introduction, two parts, conclusion, references and summary. In the first part we study the true value of the concept of The New PR.The second part of our research paper is devoted to the participating in Social media and using new tools and techniques for facilitating conversations. In conclusion we sum up the results of our research, formulate general conclusion and identify the prospect of further development of this problem. The references consist of 13 sources.