Does Your Company Need a Perception Study?
Understanding how Wall Street perceives your public company is crucial for success. But what exactly is a perception study, and how can it benefit your organization?
Short answer: you can't.
Public relations teams call it earned media for exactly that reason. Media seek compelling, original stories worthy of coverage – and not everything qualifies.
A strong, experienced public relations team can strategically guide your storytelling efforts to increase your chances of earning media coverage. They’ll develop a robust media relations program to drive quality earned media placements that pull through your key messages, increase awareness of your company, and improve brand equity with positive sentiment.
Why does any of this matter? If you’re not controlling your narrative, somebody else will. The first place investors, consumers, and stakeholders go to learn more about your company is Google. If your search results don’t reflect your company’s proactive storytelling – there’s an issue. Today’s increasingly dispersed digital universe necessitates the strategic mapping of a company’s story to showcase its value.
How do you execute a media relations program? Read on to learn more about two types of proactive storytelling approaches to illicit media interest, plus tips to help secure earned media coverage.
Company announcements are crucial for a media relations program. Whether it's a product update, acquisition, or corporate news, these announcements demonstrate to the media that the company is actively pursuing growth and progressing towards its objectives.
That said, not all announcements are relevant to all media. Spraying your news to a comprehensive media list and praying they’ll cover your story will often lead to disappointment. While yes, you should distribute your news across a wire service to validate it with the market and enhance your SEO, proactive outreach to media should be tailored and targeted based on the complexion of the story.
Public relations professionals understand that it’s imperative to study target media and understand their beat, who their audience is, and what the story threshold requirements are, before strategically engaging.
Everyone wants the front page article above the fold in The Wall Street Journal and a prime time CNBC segment, but in reality, those are few and far between and not realistic for most companies.
Top tier publications will have specific requirements, such as CNBC usually only covering companies with a $1B+ market cap, or The Wall Street Journal needing an exclusive jump on your news before breaking a story.
While CNBC and WSJ are widely viewed and read, there are dozens of other appropriate business and industry trades, as well as regional publications that will help you reach your target audience.
Newsjacking allows a company and its executives to connect with editorial media on current events in its industry and sectors. This strategy helps elevate senior leadership within the industry, positioning them as topical experts and thought leaders.
Focus on presenting captivating stories that link your company to broader, significant industry trends. These stories should engage readers by combining unique perspectives with mainstream interest, aiming for breakthrough coverage.
Leverage your leadership team to offer bold, thought-provoking insights that resonate with journalists and audiences. Consider expanding your spokesperson bench to include the entire C-suite to enrich the narrative and open diverse media opportunities.
Consistently taking this approach in between company announcements allows your team to maintain consistent engagements with editorial media.
There is a myth that you need to know the journalist to secure earned media coverage. In reality, while relationships help, quality stories that align with the reporter’s beat and resonate with their audience always win out.
Secure media interest by offering exclusives or embargoed news to publications. This approach not only prioritizes high-impact placements but also controls the narrative timing for maximum effect.
Media want stories that move the needle. When framing up your story, consider what ‘firsts’ and ‘milestones’ you can highlight. How is your company and its leadership driving value for the industry and your customers?
A recent report by Cision, the leading media intelligence platform, indicated that reporters are more likely to consider covering your story with the following:
• 63% of journalists are looking for original research reports, such as trends and market data.
• 54% of journalists cover a story if provided with high-quality, accessible multimedia (images, video, infographics, etc.).
• 49% require photos or video of the product.
• 39% look for relevant data showing applicable trends and solutions for readers.
When approaching media, utilize testimonials from well-informed customers and partners to underscore the real-world impact and benefits of your solutions. These endorsements should come from individuals who are deeply familiar with your company’s strategic goals, product innovations, and market positioning, enhancing credibility and detailed insight in media coverage.
To conclude, earned media coverage is just that — earned. But with the right public relations team that has experience building relationships, telling compelling stories to target audiences, and monitoring the latest industry trends, you can increase your chances of receiving the media placements your company deserves.
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