Can a square peg fit into a round hole?
Image by rosipaw via Flickr
The question refers to that age-old dilemma – can a corporate communications person (square peg) make the transition to the agency (round hole) world?
It’s a question I had to ask myself as I moved from my 25+ year cocoon of corporate comfort, to working for a consulting firm. In fact it was my biggest concern. So, how did it go? Heading into my first anniversary, I thought this would be an ideal time to review my decision and pass along some guidance to other square pegs. (Full disclosure: Yes, I am morphing into a round peg, but not fully. My corporate squareness remains intact. I have a great job that allows me to bring to clients and colleagues, the very best of what I learned guiding media activities at four incredible global organizations. So, I can say unequivocally: Happy Anniversary corporate girl.)
1. There is one overriding piece of advice – Know the firm you’re joining
If you’ve spent years building your own sterling blue chip reputation, don’t just move to any agency, check out the firm you’re joining. Just as I discussed in my post How to Pick an Agency, a full and deep check of the character, skill set and reputation of the firm is vital. Ours is a business of principles and high ethics. Who you join should value these.
It’s very easy to check. A quick Google search will show you if they’ve been in the news – and for what. If this stuff is bad, and it can be for even the best known firms, find out the why and be ready to walk away. Also check the PR trades, Glassdoor.com, LinkedIn, the agency’s Twitter and Facebook feeds.
2. The round hole environment
Yes, agencies are different. I’m still getting used to my new home, and it’s been nearly a year. It is essential though to tap into the culture and find out what makes the place tick.
Over the course of my corporate career I was very fortunate to have some great mentors and advocates. Executives who helped steer me in the right direction. Success would have been much harder had it not been for them.
Depending on the agency and its approach to mentoring and guiding talented people, you’ll find your path either easy or hard. Recognize that people are busy, and it just might not be like the company you just left in terms of steering your career. But, finding that path is critical if you’re going to successfully make the transition. Build a pool of strong advocates who will help promote you and the value you can add to the agency and its clients.
3. Accept that you’re no longer the client….but you were once and can add real value
As a corporate PR person, I’ve worked with many agencies, but you really don’t know what it’s like to not be a client until you are no longer one. That can be unsettling and it will mean loss of control, power, and influence. Get over that part – quickly. Recognize that the best agencies are about teams, about bringing together the most talented people…and guess what, you’re now one of them.
A PR pro with deep and successful corporate experience can add significant value. Sure, it may take a while for the agency to figure out all the ways to use you. Be patient, listen, learn and be just a little pushy about showing them why they hired you in the first place. Who knows, you may find yourself fitting right in and following a new path that allows you to be as successful as you were on the other side of the fence.
Chief Communications Officer: Toughest job in the world..but also the best
Image by kevygee via Flickr
Kermit used to say that it was “not easy being green.”
Today, he’d find that it’s also not easy being a chief communications officer. But hundreds do it exceedingly well and there’s a lot any PR person can learn from our corporate colleagues. So, how do these pros do it and what makes the CCO position so critical to top management?
It’s all about managing reputation, be it of the whole firm, a particular business unit or an individual executive. Having a CCO who knows her stuff makes a big difference in any of these scenarios and the C-suite knows that.
These days it can be quite a challenge being the CCO of a major firm. Sure we’ve had tough times before, but there just seems to be a lot of unsettling stuff swirling around these days. And it all happens in a 24-hour news cycle, where a tweet is as likely to cause a ruckus as a piece on CNBC. The communications pros of large companies have the dexterity to manage both, and are increasingly called upon to deal with issues that stem from both social and traditional media.
Anything can touch a company these days, and when it does, it touches the desk of the CCO.
The economy? Depressing. Stock market? Dramamine. Greece? Chihuahua tail wagging St. Bernard dog. Protesters? Camping out in front of HQ.
There has never been a better justification for the CCO having a seat at the table, than what is happening right now. Communications has – and rightly so – earned its place next to the CEO and her management team.
As the CCO for a couple of very visible global companies I learned what made those challenging times much easier to manage. I always had my bottle of Tums at the ready, and there were many an occasion when it came in handy. But, I did survive and learned some valuable lessons along the way, which I’d like to share.
What helped me? Well, it’s actually the same things I’ve written about in previous posts, which just goes to show you, being prepared is still a CCO’s best tool.
1. Get to know the key players – C-suite, business lines, legal, finance, IR
Relationships matter. A lot. When you’re facing challenging times, strong connections can make the difference between success and failure. Knowing who can help and will stand with you, gives you a significant edge against any head winds. The best way to do that is to develop relationships – internally and with the media – as soon as you’re in the job. Having those allows you to make smart decisions very quickly, and that counts in a “situation.”
2. Build your reputation before the crisis
How you’re viewed and whether you’re trusted on the big matters counts for a lot in the corporate world. During crises, people will lose their cool. The CCO, on the other hand is expected to remain unflappable and focused. If the key people know you already, and better yet have faith in your counsel and decision making, you have a significant advantage.
3. Get that seat at the table
This is the bedrock component. The smartest CEOs know that the CCO stands in a pivotal role, not just in crises, but in setting the tone and message direction for the company at all times. Organizations that manage communications well, share a common attribute – the CCO is at the top table.
4. Know the issues your company and industry face
The very good CCOs know what matters to the company before the call from a reporter. Limiting the surprises is invaluable, as there is no time to study in the midst of a crisis. You don’t need to be an expert on every issue. Know the big stuff and know who to contact whatever the situation.
The CCO role can be the toughest in the world, but for those of us who’ve done it – both in the trenches and out – it is often the best job in the world. Perhaps not at the very moment of a crisis, but looking back and knowing you helped make a difference, is the best feeling for any PR pro.
What reporters want from PR people
Image via Wikipedia
What do the Dead Sea scrolls, the Gutenberg press and Twitter have in common? If you guessed that they were all instrumental in changing the way news is delivered, well done.
The big question is: Did any of these “new” technologies actually change the basics of what reporters want from PR people? (Yes, a PR pro sent out a press release using Gutenberg’s invention in 1450, so the question is as relevant now as it was then!)
The current reality of the media business causes much hand wringing, as we all try to figure out just what is happening, and how it affects the core of what we do for our clients—getting them good press. I recently went looking for an answer, and found that while the media business has changed significantly, what reporters want from us, hasn’t changed much at all.
Good ideas still matter: Any reporter will tell you that this is first among equals. A good story idea still matters – a lot. It’s what makes news valuable. In my opinion, what has always worked with reporters – originality and creative pitching – still works in an era of insatiable demand for content, split second deadlines, and rapid digital distribution. Reporters still care about what they write, and while they may be pressed for time, you’ll rarely find that a smart, new angle is wasted. Spend time thinking about the story before you make that call. It goes a long way in creating a lasting relationship.
Become an expert in your client’s business and help steer reporters in the right direction: Most of my career has been on the client side. One of the things that made my life much easier, was that the best of the agencies I used, took the time to understand the company and industry. Of course reporters like to work with an internal person, and for the big stuff they will, but most know that’s not always practical. They often need the designated account people to be their guide to the best angles and most interesting internal sources for a story.
Candor and accuracy: Seems obvious, but don’t blind side or intentionally give incorrect information to a reporter. You’ll be the one left spinning in the wind if that happens, and it won’t just be the reporter who is mad. Reporters rely on PR people and sources giving them accurate information. Today’s deadlines are brutal, and there is nothing worse for the reporter, and you, if you’ve provided incorrect information. (Of course mistakes happen, but then it’s best to quickly own up and correct it.) Nothing is stopping you from “managing” your side of the story to your best advantage. That is expected, and is part of the dance between PR and press. But, blatant inaccuracies and even lies will deliver you to PR purgatory.
Oh, and about all those changes going on in the media business. Don’t fret. Whether it’s papyrus to newsprint, or newsprint to blogs, change happens. As Benjamin Franklin said: “When you’re finished changing, you’re finished.”
Are you a DigiPrint? It’s okay to admit it if you are!
Image via Wikipedia
It’s not easy being a print publication these days, but take heart publishers, your golden age is not over.
Sure, it’s changed, but I bet there are a lot of readers who actually have a foot in both the digital and print worlds. We love digital, but still read newspapers the old fashioned way.
Last week I was speaking to a neighbor who is one of the best PR people in our business. He was raving about his iPad and how much he loved being able to travel across the world with his nifty new sidekick.
“But, I still read the print versions of the Times, Journal and FT.”
I bet there are millions of us out there.
We’re the DPs or DigiPrints. Nope this is not an act for the new season of America’s Got Talent. We’re those hybrid newsies who entered the world of smartphones and tablets quite easily..but still love to read broadsheets in print.
Ahh, there I’ve said it. That’s quite a load off my plate to admit that I’m a fan of print.
Amazing you say! Not so. Let me explain my continuing love of print.
There are impact stories that are best read broad and long. You know those sprawling pieces in the best newspapers in the world. They take a look at a topic, slice it, dice it and deliver it to you like a five star restaurant. I read those in print. But, I go digital for the comments.
When something big has happened, a major event, a national or international story that needs to be covered from many sides. I’ll read those in print, because you’re getting the story from some of the best journalists in the world and sometimes you just want to read all the ways they see the news. But, when it’s a big story there are constant updates…and I read those online.
Some of my favorite columnists are best read in print. I don’t know why, perhaps it’s more respectful to read Krugman in print. Oh, and Lucy Kellaway is so much funnier in print.
So, I’m a DigiPrint and proud of it.
Stay tuned, I’m coming back
Image by UggBoy♥UggGirl [ PHOTO // WORLD // TRAVEL
Apologies for the long absence. I started a new job and have been settling in. Also, figuring out how to say what I want to say about the PR business, without hindering my new position. The posts will be own, and not at all represent the views of my new firm.
As always, I’ll be writing based on 25 years observing what’s great about PR–and the stuff it’s best to forget.
Of course, as I’m still doing PR for financial services, I’ll be looking at what is happening in the industry. Monumental changes, companies are trying to figure out what’s next. Smart PR will make a big difference as these changes occur, and everyone tries to tell a differentiation story.
Can’t wait to start chatting again. See you soon.
How to hire a PR firm: What to do before you make that call
Image via Wikipedia
(Full disclosure: This post is based on my experience in selecting and working with multiple agencies over a 20+ year corporate career. I am now on the other side of the table, as a senior strategist for Edelman’s Corporate & Financial Practice. PRThinking is my personal blog and all suggestions and viewpoints are my own.)
****************
Choosing an agency is a lot like dating – looks and chemistry matter, but if that’s all there is, the relationship could soon be on shaky ground.
So, how do you date your agency?
Actually, it’s not that hard if you follow a few simple steps. A good client/agency relationship can produce high impact, creative work. PR firms add significant value and without question, some of the best work I’ve ever done as a corporate client has come from working closely with an agency.
But, there’s a flip side and it can be quite painful.
Here are some ideas to help you succeed with the former and hopefully avoid the latter.
Know what you want from an agency
It’s usually a given, that for any project, the clearer the directions, the better the result. Hiring a PR firm is pretty much the same thing.
As the client, you’re closest to the business need and best able to explain what you’re looking for. Agencies do well when the roadmap and expectations are clear. Whether you’re hiring a firm to provide early counsel and help shape things from the start, or looking for media execution of an existing plan, you and the agency need to be on the same page. Knowing the page before you hire the firm, will make the whole process easier.
Put together the RFP (Request for Proposal)
This is why it’s essential to know what you want before you start on the RFP. This will be the blueprint for your discussion with the agencies and the better they understand the scope of the work, the better the dialogue.
The length of the RFP really depends on what you’re looking for. I’ve always prefered shorter documents that give a snapshot of the business, issue/s at hand, specific objectives, requirements etc. Others may lean towards an RFP that is quite lengthy. Short or long, make sure that it clearly lays out what you’re looking for.
Check out the dating, err agency, pool
There are big agencies and little ones, those that specialize, others that cover all industries, some are private, while others are owned by other PR firms or ad agencies. There’s enough of a choice to make this bit a little challenging. The good thing, today you have extensive resources at your disposal and it’s easier than ever to check out the agency pool. A lot will depend on the assignment. You’ll probably not want to choose an agency with no consumer goods experience if you’re launching a new cookie. Nor would you look at an agency that has never handled crises, if your firm is being investigated by the Justice Department.
Talk to people, lots of people: other communication pros, reporters, anyone who has likely dealt with an agency. Get ideas from looking through some of the better PR publications like PRWeek and multiple online resources, from company websites to PR blogs. (Remember, you can ask agencies to send you their capability brochure for a specific sector.) You can go to the websites of PR awards, like Silver Anvil, where you’ll often find case studies on winners.
If you’re impressed by a competitor’s campaign, you’re not going to call and ask for the number of its agency. There is nothing wrong, however, with calling up other firms in that space. I guarantee it, they’ll be eager to talk to you, as long as there isn’t a conflict. Your industry and project will influence the size of your pool. Try to keep the list manageable. In my experience, getting it down to a final five or six will help you avoid massive doses of ibuprofen.
The reputation check
I also recommend doing some early, before the call, due diligence. Finding out months into a campaign that you’ve hired an agency with a reputation for not delivering on its promises, is awkward to say the least. Don’t waste your time, check first.
In the small world of PR, it’s pretty easy to do a reputation check. Any agency that has been active for any length of time has a track record on how it’s viewed by current and former clients, the media and competitors. I’ve always found that a stroll though the firm’s website and blog, and even a basic Google search are invaluable. (On Google, do both a web and news search.)
A little trick I’ve always used in selecting an agency, is to check out two career intelligence sites, Vault.com and Glassdoor.com. Both give a good snapshot of the culture of the place, from the standpoint of the people who actually do the work – employees.
That’s it for “before the call.” Lots more, but these are a start. Next up, choosing the finalist.
What it takes to be good at PR
Image by Domain Barnyard via Flickr
I’ve written about this topic before, but thought I’d revisit it.
There are a lot of variations of PR, agency or corporate, types of industries – working with Lady Gaga is a bit different from working at GE or IBM, media experts, crisis managers, strategists etc.etc. Having interviewed many candidates over a long corporate career, I thought I’d offer a few of my own thoughts on what it takes to be good at PR.
There are many commentators on good and bad PR, including the fabulous Journalistics blog and the hilarious, but often scary Bad Pitch Blog. It’s pretty easy to find examples of what drive reporters nuts.
I’ll stick to the good PR side and what it takes to be a pro with good PR skills.
PR is not just about getting clips
Whatever you’re pitching, remember PR is not just about coverage. Sure, that’s a big part of what we do, but any good pro knows that it’s just as essential to be attuned to a company or client’s business strategy, brand and the story they want to tell. The best PR people are in synch with all of these, and they know how to generate great coverage.
Be a good communicator
We may live in a nano second world, but the value of good communications from PR people is as valued as ever. Whether it’s counseling a CEO on a Wall Street Journal profile, writing a press release for your rapper client, or ghost writing an op-ed piece for a senior executive, if you’re in PR, words matter. The Twitter age might have moved us past the need for Churchillian prose — although I find many an occasion where I use one of those fabulous quotes to make a point–but language is still powerful, and can certainly separate you from those who find it challenging. If you love words, you have an advantage.
Read what reporters write
Foodies know they can’t just look at the meal to know how it tastes. Same thing with being good at PR – you must read what reporters write. It still amazes me how many PR pros don’t read what a reporter has written before picking up the phone to pitch.
Same thing with being a good PR person. Think of an article as scallops on your plate. You’ll never really know much about the chef until you taste the dish.
There are lots more and I’d love to hear back from readers of PRThinking
PR Recovery: The industry comes back
Image via Wikipedia
Remember a time, not so long ago, when a global financial crisis, coupled with one of the deepest recessions in decades forced industries to pull back spending across all communications disciplines — marketing, advertising and PR. Great people were laid off, budgets slashed, projects halted. Agencies saw clients cut back on retainers or eliminate relationships all together. Businesses went into an activity coma and with it went the PR industry.
But, a more promising trend is emerging as the respected industry publication PR Week has been reporting in recent months. We’re not at pre-2008 levels, but when Korn Ferry, one of the largest search firms, reports that “its revenues are up by 30% versus 12 months ago,” the arrow is shifting from it’s downward mode.
We know companies and agencies don’t hire when there isn’t work. There was little work after September 2008 and little hiring. Today, the industry is seeing more work and more hiring. While we’re not at pre-crisis levels and unemployment in PR and other areas remains stubbornly and depressing high, companies are racing to recruit smart, competitive PR people and also increase their spending on agencies.
So, why now and will the arrow keep turning in the right direction?
- Business has been improving: This has been happening slowly, but in core industries like health, technology and even financial services business is improving, the outlook is more rosy and plans for PR support can finally be made. Large corporations are sitting on piles of cash that sat in limbo for the past few years. Today, these firms are looking for ways to grow, acquire competitors and be more focused in telling their story. Just as they plan for the future before it arrives, companies know they can’t wait for a “full recovery” in order to place PR support behind their business.
- New business calls for creative PR: Okay, that makes a lot of sense. There used to be a time when traditional marketing or advertising had a lock on budgets. No longer. Social media, fragmented media, micro media, multi media – today you have to tell your story strategically, creatively, over and over again in many different places. One great piece in the New York Times or Wall Street Journal is still a coup. But, what if half your core audience misses the story because they’re being bombarded by hundreds of news streams rather than just a few.
- The competition ain’t waiting: When the business climate improves, competitors don’t wait very long before they ramp up their engines. Industries are making their comeback in a highly competitive, almost ruthless climate to lead in select categories. iPhone or Android, Pampers or Huggies, Ford or Honda, Citi or BofA; industry is back and a big part of future success is how well they promote their products. Today, companies are looking to spend more to support that success and they’re doing it with PR.
So, the arrow turns and the PR industry begins its recovery. Great news all around.
PR in a 2.0 world: Twitter – PR’s favorite news source
Image via Wikipedia
It’s a lot of fun being a news and information junkie these days. The question becomes: how to manage the flow?
As I mentioned in last week’s post, there was a time when we actually waited until Sunday for the Sunday New York Times. Today, if you’re a PR pro, waiting is not an option.
So, what does the modern PR professional do to keep up with the constant stream of data that drives the news?
For me, it’s pretty simple.
I use Twitter.
It helps me locate, sift and digest the information I need and all with short headlines. Perfect for PR in a 2.0 world.
And that’s why the little blue bird has become my favorite news source.
(I’ve been using an RSS feed, but more and more I’m drawn to Twitter to separate what I want, from the deluge of information I get. I still love reading the WSJ and NYT in print, but they’re also in my Twitter bucket for breaking news, individual reporters and blogs.)
So, why Twitter?
- First of all, there’s a lot of information out there and even if you clear your head each day it’s just not possible to absorb it all. If you’re in PR your life is wrapped around news. Twitter makes all that monitoring very easy.
- There are a lot–and I mean a lot–of very smart people on Twitter. Ideas matter in our field and Twitter is the candy store of ideas. How else would you learn something from a pro in Sidney or the digital unit of a global PR agency. Possible sure, hard to do easily, yep.
- Your Twitter feed is just like having a seat at the central information feed for AP, Reuters and Bloomberg. Tweets are the 2.0 version and as a long-time PR professional all I can say is wow!
- Once you’ve scrubbed through and figured out who to follow, it’s a clean, simple app and you’re in control.
That little blue bird, a great PR tool for a web 2.0 world
PR in a 2.0 world: Surveys
Image via Wikipedia
(Quick note-this is the beginning of a series of posts on doing modern-day PR in a 2.0 media environment.)
Lauren Young, the well known finance reporter at Reuters, recently wrote a column Another year. Another 500 personal finance surveys where she took to task the hundreds–I would bet they’re in the thousands–of surveys PR people send to reporters in the hopes of getting a story. The link flew across the PR world with lots of mutterings and hand wringing. I bet it came out at the very same time many were planning their next survey.
Ouch, but I’m glad someone finally spoke out. The survey thing was getting ridiculous.
(Lauren notes that there are many useful surveys and the data from these are valued by reporters. I also think there’s a lot of value in highly specialized surveys that look at a vertical business or industry. For example, an emerging segment story, something designed for particular trade publications etc.)
But what percentage of the 500 personal finance surveys are worth a first, never mind a second look?)
These surveys have become a veritable cottage industry of research for coverage, with many costing upwards of $60,000 for any reasonably credible data. Apart from annoying most reporters, there is a another important question. Do surveys even work in a news 2.0 world or have they become like a big bag of M&Ms scattered across the newswires? Is it even possible to pick out that one compelling M&M (in my case the green ones) from the many.
I’ll let you read the Reuters piece for the reporter perspective, but would like to address whether a “survey for clips” strategy even works these days. One can ask if all those dollars spent contribute to any meaningful visibility for a company or helps the business?
That’s something every PR professional needs to think about when it comes to surveys and publicity in general. It’s also best to ask those questions before agreeing to $60,000 worth of research.
As a long time media relations professional, I’ve seen a lot of changes. There was a time you would actually wait until Sunday for the Sunday New York Times. Imagine that. Today, a deadline can be a few minutes or even seconds as the rush to publish puts everyone under pressure. There are also hundreds of personal finance stories being written every day, some from reporters, many from individual and corporate bloggers, even more from the content farms. Standing out is challenging.
But, it can be done. You can be the M&M that stands out from the crowd. Sure, our world has changed, but it’s done that before and we’ve adapted to the new environment.
Over the next few weeks I’ll write more on doing PR in a 2.0 world. We’ve been given a polite warning about using surveys to stand out. Be creative, think out of your corner of the world. Unless you have something that will stop the presses–and it’s not that American’s aren’t saving enough for retirement–hold off on the surveys.
Does size matter?
It’s a right of passage. One of the first things a new PR person has to do is either put together a media list or start pitching from one. In many agencies and companies, lists are at the very heart of a campaign and represent the avenue through which piles of clips will hopefully come. This is about those lists and the question is: does size matter? Do endless names of reporters, bloggers and influencers make large media lists the most effective tool for getting quality coverage or is there a better way to target your pitch?
Pre-web, lists were generated through a combination of personal contacts, last year’s calls and several published media catalogues. For a big campaign, some lists would have upward of 500 names, from major publications to small town weeklies. Keeping that bottom part of the list fresh was no easy task.
One of my earliest memories as a young professional was getting a media list a couple of inches high with hundreds of names. The pitching began. Very soon I found myself deep into the list, long past the better known publications, to some very obscure and even closed ones.
Let’s say for clarity purposes that I was pitching avocados – it was actually a financial product, but this makes it far more interesting. Sure, there were those who covered avocados and listened, but as I called dozens of names I started to hear more of “he left ages ago or she doesn’t cover avocados anymore, she’s now on the mango beat.”
Turned out that as I dug into that enormous list, a lot of what it contained was not that fresh. Okay, enough with the produce analogy, you get the picture. I was the eager beaver pitching machine who had quickly become “lost in the list.”
So, the list wasn’t that current, but the key question should have been: Did all those names even fit the pitch?
As I found out, a lot of the time they didn’t.
But, lists aren’t going away.
Today, one could argue that lists are much easier to update and they still do add value for campaigns and make the calling easier.
List gurus also say that the growth of digital platforms, content farms and the explosion of online experts with blogs have created vast new opportunities to place a story, i.e. there’s a lot more media available to pitch. Hmm, that just means longer lists and even more reason to keep them current.
There’s also a challenge to keep those lists current as newsrooms churn with layoffs and rapid beat turnover.
So, what’s the solution?
Lists in one shape or other have become a staple of the PR world and as search technology continues to advance, updating them will continue to improve. Of course, that doesn’t mean we can ignore the most important quality of good media relations – know the media, know the reporter and if your gut tells you the pitch doesn’t fit, it probably doesn’t.
Sometimes smaller is better.
{Update: Fabulous post from Journalistic on modern tools to help build those targeted lists http://bit.ly/dhwIO4}
You don’t need Pepto-Bismol to talk to a reporter
Image by Dave Mayerhofer via Flickr
Public relations professionals have fought hard to gain the level of credibility afforded other top consultants. That’s no surprise, for many are advising companies on their most precious commodity – reputation.
It’s no easy task as the expectations of management are not always in synch with the realities of the news business. Bridging that gap is the most important job of the PR staff and the best ones know the business, know the rules and know they’re also educators. Often that means helping company executives understand what is and what’s not appropriate when dealing with the press. Sometimes that’s saying a firm “no” to the person who signs your paycheck.
This week, the editor of InvestmentNews wrote about a company’s PR person attempting to bribe one of its reporters. (Get yourself past the stomach turning sequence of events as the column contains an excellent overview of interview guidelines.)
The piece got a lot of attention. That’s great, but what I really hope, is that it’s a wakeup call for executives of financial companies. Too many firms let too many fears govern their dealings with the press.
That’s a real shame, because there’s a lot to say right now and if you’re telling your story well, you’ll never have to put your PR person in the position of telling you no.
It’s a blemish on the profession when a PR person does something dumb, but for many firms a lot has to change at the c-suite level. Executives have to ease up on “what’s the point talking to a reporter they’ll get it wrong” philosophy; marketing should work with, not drive PR; compliance and PR departments have to do a much better job of working with each other to understand where the real line is, not the one that floats back and forth as internal nervousness goes up and down.
If you feel you need a bottle of Pepto-Bismol before speaking to a reporter, something is very wrong – and it’s not with the reporter.
Sure, there’s a lot to be concerned about these days—increased regulations, an erratic market, lawsuits from dissatisfied investors, an ever vigilant, crushing news cycle. But, that shouldn’t be a reason for a climate of PR paranoia.
For those of us who have been advisors at large, highly visible financial companies, a lot has changed over the past 20 years. One thing hasn’t – companies that connect with the market and their customers are comfortable telling their story and do so with a passion that comes across in the coverage. Take a look at Vanguard
Put your energy behind crafting a compelling reason for a reporter to write about you, make it interesting, fill it with great anecdotes and never go into an interview without fully understanding the rules. Find your story, craft your message and tell it. You might actually enjoy the experience.
There are very dynamic trends driving the financial industry right now and not telling your story leaves you at a great disadvantage. Firms that work well with the media know it gives them a significant reputation advantage over the competition.
What’s more exhilarating than seeing an interview you’ve participated in reflect well on you, your company and your message.
It’s a lot more fun than having your PR person tell you no.
Secrets of the PR profession: Keeping an eye on the competition
Image via Wikipedia
As a senior corporate communications person for some of the nation’s largest financial firms, I always kept a close eye on the competition. Whether it was other large asset managers, brokers or investment banks, I felt that knowing what our competitors were doing was an essential part of my job.
One of my first, and most savviest of bosses, showed me the value of this technique and 20 plus years later I still consider it a fundamental requirement of good PR. Knowing the current competition and being an early detector of new entrants, allows you to be an effective contributor to the C-suite dialogue. After all, those executives keep a very close eye on their top competitors and would never ignore a smart, new entrant. Helping them makes good sense and good PR.
Reporters love a competitive battle; it makes for great stories. This is also a time when smart, tactical PR can prove highly effective in diluting the assault. Unfortunately, it can also be a time when some companies are slow to react. That can signal the moment when comfortable industry leaders find themselves weakened and on the defensive. You never want to be in the quicksand of the latter; it’s no fun talking to reporters when a smart competitor has begun to nibble at your lunch. Know before you have to know is a good motto for any PR person.
So, how do you identify the competition and what do you do with that information?
1. Focus on the firms your top executives and industry reporters think about
You don’t need a list 20 names long, pick the key ones and focus on those. For example Coke watches Pepsi, Huggies watches Pampers, Bank of America monitors Citi and Chase, Morgan Stanley watches Goldman Sachs.
If your company has a competitive analysis division the work is already done. Draw on the skills of these analysts and contribute your perspective from a media standpoint.
You’re probably speaking to the reporters covering your industry on an ongoing basis. Look at the other companies they write about. Monitor their stories beyond what they say about you. You’ll get a pretty good overview of the firms that matter
2. How to monitor the competition
That’s the easy part these days and even if you don’t have Factiva or one of the paid services, Google Alerts, social media and online access to coverage allows for a daily snapshot. But, don’t limit yourself to company names, keep an eye on products, industry trends or themes using alerts and other trackers.
Remember to also monitor the industry trades. You’ll often find indications of an early competitive surge with smaller, vertical stories discussing a specific new initiative, the hiring of a well known executive or some major investment that signals a move into a new business.
For example, Schwab and Fidelity have long dominated the advisor space and conversation. Although other firms have nipped at their heels, no single competitor has really pulled away from the pack. Recently I’ve been reading a lot about TD Ameritrade, the number three ranked firm in terms of advisor assets after Schwab and Fidelity. I first started to notice several stories in trade publications like the “on top of all advisor news” RIABiz.com that first began to point to the firm’s move for greater market share.
As InvestmentNews, another excellent industry publication reported, Schwab smartly used its Boston based IMPACT conference to swing its own bat of supremacy, with several announcements showing that it’s not taking the new competition lightly. For anyone who loves following the trends in the investment world, particularly the advisor slice, stay tuned, as the business – and PR – battles are just beginning and are sure to intensify. I think this is one of the most fascinating areas of financial services and will continue to write on the evolving story between these industry giants.
3. Report your findings
Don’t keep your insights to yourself. Today’s C-suite can’t possibly keep track of every industry movement. Become their eyes to the broader world. As a corporate PR person I found it invaluable to keep executives informed on breaking competitor, industry and noteworthy news. But, be conscious of how much information is being sent upstairs and keep the flow of material light and relevant from a business standpoint. They will recognize the value.
If these executives are regularly interviewed it becomes essential to keep them abreast of what competitors are doing. That’s something reporters will ask about, e.g. “XYZ competitor just announced its new retirement product, do you have anything similar?” You’ll have a very happy and prepared exec if they’ve seen that clip you sent them on XYZ’s press announcement.
Competitive research is just a one part of a savvy PR person’s toolbox, but it is an important one, so keep monitoring.
Update: Check out this great list of monitoring ideas from the blog Publicity Hound
Know your story and you’re halfway there
Image by DoktorSpinn via Flickr
Pitching can be challenging enough for any PR person, but if you don’t have your story down, you’d better have luck on your side.
Branding and positioning are core parts of any marketing campaign; they help tell the story. But, how often does a PR program incorporate the narrative or story around what is being pitched?
Here are a few things that make story telling a powerful media relations tool:
It’s a wrapper for your messages
We all know that good messaging is at the heart of an effective pitch, but what about going a step further and build a wrapper for those messages. Don’t just talk about what your product does, liven it up with interesting details. These could include how the product was developed, where it fits into the competitive landscape, anything unique or quirky, does it support or counter a trend, something interesting about the development process. Tell a story and your pitch becomes very interesting for those you’re trying to reach. The reporter will love you for it.
Look at the recent Old Spice social media campaign. Sure it was about shaving cream, but it really was so much more. It was compelling because it told a story – actually a few of them.
It can make a routine product stand out from the pack
I’ve been doing PR for financial firms for over 20 years and have worked on most of the industry’s products and services. One of the most routine, but necessary of products is the “college planning kit.” The pitch materials are pretty much the same – press release, backgrounder, Q&A. Each year there is very little to distinguish one firm’s campaign from another. Then one year, dreading the sameness of the campaign, we did something different and told a story. It was a huge success.
The pitch was more than the product, after all everyone had one. Instead we focused on the issue of single parents savings for college. It was the first time that angle was used and reporters responded. The campaign went from sameness to uniqueness, all because we told a story about a routine product in a way that touched people beyond the mere facts.
Where do you find the story?
The angles are all around you. That single parent idea came from a quick lunch with a colleague, a mom who was on her own in financing her son’s college education. Lightbulb.
My advice is to think like a reporter. The best will always think about what they’re covering in terms of something broader. A trend, how the competition is responding, testing it, looking at who is the user and what they think of it. Do the same think with your pitch; look at your product beyond its four corners and see whether it fits into a broader design. Build a story.
Try it out. You’ll have successful pitches and a lot more fun doing them.
So, what do reporters really want from PR people?
Image via CrunchBase
We know the current reality of the media business — digital distribution, high speed to market, a hierarchy of media superiority flattened by the huge growth of bloggers, content farms and any individual with a smart phone.
But, has all this actually led to any real changes in what reporters need from PR people?
That question should be at the heart of any media relations philosophy, because sometimes change on a macro or seismic level doesn’t always mean that things have changed on a micro or individual level.
Content delivery and distribution have changed forever. We’re never going back to a print-only dominated media world. Technology, speed to reader, fragmentation, minute rather than hour deadlines have changed the way we PR people deal with the vehicles that convey our messages. But, this is not a case of a digital takeover of the PR process.
In fact, this is actually a very good time for a look at the mechanics that shape one end of the news delivery process, not forgetting of course that reporters are at the other end.
So, what do reporters care about? Over the past 20 years I’ve been very lucky in that I’ve worked with some of the best journalists covering the financial services sector. I recently went back and asked what they want from PR people. We know the things that have changed — a new model for the news business, technology driven distribution, skinny budgets and tighter deadlines. But, what reporters really need from PR people hasn’t changed much at all.
1. Good ideas
Any reporter will tell you that this is first among equals. A good story still matters — a lot. After all, it’s what makes news valuable. Rapid 4G delivery may add excitement, but if readers are not interested in the content, the news has no value. Think like a reporter before they come calling. My last post Know your story and you’re halfway there took a look at this in more detail.
2. Accessibility
Reporters need access to you and your internal sources. If you can’t give them that as a PR person your relationships and coverage will suffer. I’m not saying you should give blanket access (see the next point for why), but the alternative should not be a closed border. If you want coverage, provide access to your most interesting people. Of course, any savvy PR person will know how to help identify the best story sources. As the company representative, part of your role is to help develop and shape the ideas that can help a reporter write a great piece.
And please return a reporter’s call. Nothing makes a reporter more irritated than an unreturned call. You know it’s not going to stop the story being written. (I’ll address the whole matter of communications and access during a crisis in another post.)
3. Help steer reporters in the right direction
Remember, a good PR person will know the company and industry inside and out. Most of the time you’ll be dealing with a reporter who knows the business, but you’re the expert on your firm, so make the reporter’s life easier and put them in touch with sources who will add interest to their story. (Those of us who have been in the business a long time know that you’ll often get someone who is new to the beat. The same principle applies. Some of my best long-term industry contacts came from helping someone who had not covered my business before and needed a little extra direction to find the most valuable ideas and sources.)
4. Candor and Accuracy
Seems obvious but often it’s the PR person who is left spinning in the wind if you’ve attempted to blind side or spin your way through a story. Reporters rely on sources and PR people giving them accurate information. Today’s deadlines are brutal and there is nothing worse for the reporter–and you–if you’ve provided incorrect information. Nothing is stopping you from “managing” your side of the story to your best advantage. That is expected and is part of the dance between PR and press. But, blatant inaccuracies and even lies will deliver you to PR purgatory. There is little ability to recover your reputation once you’ve lied, so don’t.
What do PR people want from reporters?
Image via Wikipedia
Last week I took a look at what reporters want from PR people. That’s certainly the question that gets the most attention and it was nice to see that it peaked the interest of readers of PRThinking. But, what about the other side of the relationship? What do PR people want from reporters?
Like any profession, there are smart, effective PR people and then there are those who might share the label, but are neither smart nor effective. That can be very frustrating for reporters and they rightly complain. There’s a lot of amusing commentary and even dedicated blogs on bad PR, but I’m going to keep things simple and focus on what actually enhances the relationship.
Value the PR profession, because it is a valued profession
It makes a big difference if the reporter sees the PR function as one that has value. Many PR people have spent years honing their skills, understanding the technical aspects of their job and make a point of keeping up with the changing dynamics and needs of the media. More are holding degrees from the very same schools that train the press. Both professions have value and respect and dialogue should go both ways.
Sure there are reporters who would rather take castor oil than have to go through the PR staff. There are also a lot of PR people who fear or have disdain for the media. It happens. It’s unfortunate, but then again friction is not limited to these two professions.
But, a good relationship between a reporter and PR person is highly valued by both sides. Good reporters will recognize that the PR person works for and acts on behalf of the company; the PR person will also know the reporter has a story to write.
So, it becomes a dance, with both recognizing that there’s give and take.
Recognize that the PR person can actually make a reporter’s job much easier
A lot of reporters will see the PR function as a barrier to entry, but those who see value in a good relationship with PR will often get the best access, the fastest response and the most interesting story. I’m not saying that reporters need to subjugate themselves in return for access; no reporter worth her salt would do that anyway. This is more an understanding that the institutions or issues a reporter covers are often complex and clouded in subtleties. Access to good sources makes a reporter’s job easier and in many situations it’s the PR person who is the gatekeeper.
Of course, most good reporters have many more sources beyond the ones they get through a PR person. But, also remember a good PR person has a unique insight to the organization or subject.
This won’t of course stop a negative story being written when the facts are really negative. But, long-term mutual respect is worth its weight in gold, even for the heartburn coverage and remember, sometimes the heartburn is not as bad as it might have been. Relationships help.
A riddle wrapped in a mystery inside an enigma
PR people understand that sometimes a reporter does not want to reveal the story line or context of an article. After all, that’s the magic sauce of journalism and how some of the best stories come to life. That’s the duty of every journalist. But, sometimes it’s tough to deliver the right spokesperson or make sure you’re not stepping on a land mine if the inquiry is a bit of a puzzle.
This is often intentional of course and part of the dance between you and reporter is to figure out where things are heading, even if you have very few clues. As a representative of highly visible global companies, I’ve often had to take calls from reporters where only a single strand of what I believe is a much larger story is evident. If I suspect there’s a ball of wool the size of a football stadium behind the question, I’ll take that extra time to try to figure out where the broader story lies.
Still, for most inquiries, the clearer and less obtuse they are, the better for both parties. Makes life much easier when a reporter is on a short deadline, is doing subject learning on the fly or has to reach many sources.
Once again, it’s all common sense, but I’d love to hear from readers who can add to this list based on their experiences.
PR: What’s not to love
Image via Wikipedia
I’ve often been asked why I went into PR. In fact, my family asked me this for the first few years of my career as they couldn’t figure out what a PR person actually did.
So, what’s great about this profession? (Again, this is from own perspective as a corporate strategist–my industry is financial–but, I think most of these points could apply to agencies and any number of industries or causes.)
1. Good PR is very effective
Know that feeling when you’ve designed and executed a PR program that hits it target and then some. It’s the most wonderful feeling in the world, because you’ve helped position your company as an industry leader, elevated your cause so that donations pour in or helped your client, a well known actor get a Golden Globe nomination.
I’ve had many opportunities to see the effectiveness of PR. The launching of a product that sees several billion dollars of new asset sales, the image turnaround of a company that was being skewered by the press, the recovery of a business after a period of slow growth
[Note: Of course pre media 2.0 you could measure results by coverage. Today's flat media landscape makes it much more difficult to evaluate results by clips alone. You may have a thousand mentions scattered across dozens of media outlets, but asking whether the program was actually successful is another matter. That's why ROI or return on investment has become an even more critical component of a PR person's toolbox. I'll discuss this in greater detail in another post, but Tom Forenski, long time journalist, superb blogger of Silicon Valley happenings, wrote a piece that's a good start for anyone wanting the basics.]
2. You have an opportunity to work with some of the greats – companies, clients, causes
Sure, not everyone will have the opportunity to work with a Coke or Pepsi (or other industry equivalent), broadway or Olympic star, or the Ford or Gates Foundation. But, if you are lucky enough to work with a great–even a niche great–what’s not to love about that. There’s something very special in working with people who are the greats in their field. After all, who wouldn’t want to be a participant in history making events as they’re happening. If you’re in PR that can happen.
But, don’t feel you’re missing out on something if you’re not working with a great. PR can do wonderful things and if you’re good at it you can make your company, client or cause look quite impressive. After all, isn’t that the point of this profession, to use your skills to smartly position, promote and create a positive impression, whatever your area.
3. You can turn a negative into a positive
Those of us who have worked in crisis communications know that the primary objective is to turn a negative into a positive…or at least neutralize the pain. There’s an extraordinary sense of achievement when you’re able to eliminate or dilute bad coverage. Not only do you change the impression of your company or cause, but the ripple effect can be considerable as you’re often improving the mindset of those who are impacted by the coverage, i.e. employees, customers, shareholders etc. Working on a successful turnaround strategy for a worthy company or cause can just make you feel good. (Of course in the world of PR, the words “worthy” or “good” are highly subjective so there are many different sides for a PR person to stand.)
4. Working with the press
If you’re in PR you should love working with the press. Of course, this is not always the case as I discussed in my recent post “what PR people want from reporters.” My recommendation after many years of dealing with reporters and producers is quite simple: if you love the give and take of the news business and working with the press, your job as a media strategist will be a lot easier and much more enjoyable.
I’ve had some stomach turning experiences with reporters, but there is nothing I love more than researching, shaping and executing a media strategy that moves the needle, whether it’s a company’s new positioning or its announcement of a major new category killer. When you move the needle you’ll love PR. (I have to confess that I even look back at some of those challenging press interactions with a great deal of pride, because managing a tough situation well can be very satisfying indeed.)
PR, it’s a great profession, so what’s not to love.
Please feel free to add your own.
