Recession Marketing

Chapter 6 How to Meet the Press or ‘I Want My CNBC!’ Developing a media-relations strategy can help tell the world what your business is all about No businessperson should be asking: Why do I need to develop a media-relations strategy? Instead, they should be asking: When will I launch my media-relations strategy? In many ways, it’s never been easier to get one’s name in the paper. There is a plethora of websites, talk shows and publications – each looking for expert sources. Similarly, it’s never been trickier to find the right outlet, avoid traps and say what will position you as an authority to help grow your business. Getting on TV sounds simple – call the station. Tell them how knowledgeable you are and wait for Brian Williams to call. Like the prospect who says he’ll do just fine on his own, those serious about getting in print usually see the best results when going with a professional. [subhead] Selecting a Rep Before interviewing media-relations pros, decide what is your primary objective? While it’s exciting to see your name in print, it’s important to think beyond that. How do you want your practice to be portrayed? What contributions can a comprehensive media-relations strategy make towards helping you achieve your goals? When interviewing media-relations firms consider that a relatively small company could be well served by a firm of about the same size. Check credentials. Ask for references. Be sure they’re familiar with your industry but not working for a competitor. Ask to see samples of their work and of the “placements” they’ve obtained. Tell them as much as you can about your business. What your goals are and why you think media relations can help. Make sure you’re comfortable with the person who will be working on your account, as well as the fees and schedule. If you’re not prepared to jump into an ongoing arrangement ask about “project work.” Many firms will start new accounts this way and decide later whether a long-term strategy should be pursued. At that point the firm would be put on retainer by your office and you’d pay a monthly fee depending on services. While no one can make guarantees, your media-relations rep should feel confident about being able to get you reasonable coverage in the outlets you desire. They should also be ready to write and distribute press releases, prepare a media/information kit, organize a press event and when the time comes, coach you on dealing with reporters. Writing and distributing a press release one time shouldn’t be more than a couple of hundred dollars for a local firm. Be sure that “reasonable re-writes” are included or whether you’ll be charged every time the writer sits down at his desktop. Ask if they’ll provide telephone follow-up after each release. After about three months you should know whether the relationship will be effective. While often mentioned in the same conversation, media relations is not the same as advertising. Although both can be effective the difference boils down to one of credibility. An advertisement is a paid-for message. The buyer controls everything about it. When a reporter calls for your opinion, she’s doing so because she believes you’re a subject-area expert. When she signs her name on the article, it’s a subtle yet strong endorsement of your expertise. [subhead] Offer Yourself as an Expert Local newspapers and radio stations are often the easiest places to start. This will give you exposure as an authority in your area of expertise and at the same time, put your name in front of prospects in your business region. Being seen as an expert is different from being a publicity hound. One smart way to avoid being typecast as a blatant publicity seeker and present yourself as an expert is to stick with what you know. This is known as “positioning.” If you’re a manufacturing expert and a writer asks you some questions on technology the best answer may be something like this: Sorry, I generally don’t get involved with technology issues and therefore, would probably not be your best source. I can recommend, however, that you speak with Jennifer Jones. She’s a great technology consultant. Here’s her number. Please keep me in mind for any manufacturing questions you may have. May I send you a few story ideas? Better to turn it down then provide a poor answer and risk embarrassing yourself and annoying the reporter. With the response above, chances are the reporter appreciated the candor, the qualified contact and the opportunity for more story ideas. Consider this: Say you’ve recently installed a new, state-of-the-art, inventory-management platform in your office. That’s news. Make a list of the platform’s capabilities. Maybe it will result in the creation of new jobs or open new markets for you – these events can be news. Or maybe a member of your firm recently received a new industry designation. Examples such as these are hard news which generally finds a home in local media outlets. The next step would be to locate which newspapers in your area have lively business sections. Don’t know? Ask your friends and neighbors what they read. What radio and cable television programs do they listen to? It’s generally advisable to avoid “give-away” or free newspapers – the kind you find on your doorstep on Saturday mornings. While they have some readership, you’ll usually get far more mileage out of a mention in a paper with a paid circulation rather than the local (and free) shopper. The reason? People read and trust the papers they purchase. Free newspapers are discarded at a much higher frequency rate than are those that people purchase and they are largely read by those seeking something for free. Other outlets may be newsletters or web sites that reach the groups you’re hoping to target. These should be on your media “hit list.” A supplier or other firms with whom you do business may be able to help you get in touch with the media. This person may be listed as Corporate Communications Representative. Find out who that person is and let him or her know your goals. Ask that he take your contact information and pass it on to a reporter when the right opportunity presents itself. Or they may direct you to an outside firm or freelancer who specializes in your area. Like long-term business planning, while there are risks involved and it’s generally unwise to make promises, a good media-relations plan usually works best when engineered for the long term and with the help of a professional. Still not convinced on the power of media relations? Listen to what one New York-based businessperson says. “If reporters are not calling you, then they’re calling someone else. I’d rather see my name in the paper than my competitor’s.” Note: For further reading we recommend: Media Relations and Creative Marketing Tips for Financial Professionals by Joseph Finora (ISBN: 978-1-4196-6610-0).