• How PR Firms Can Rule the Marketing World

    By Paul Roetzer | Posted Feb 13, 2010 | 5 Comment(s) | Filed in: Public Relations

    I’ve spent more than 12 years in the public relations industry — long enough to realize three irrefutable facts:Marketing-Jumble

    1. The industry is full of remarkably gifted communicators and strategists who care deeply about their clients, organizations, audiences and peers.
    2. Everyone has his or her own definition of PR, and therefore, the industry is in a constant identity crisis.
    3. PR professionals are their own worst enemies.

    As budgets continue to shift to content marketing, search marketing and social media, PR firms have an opportunity to assume unparalleled levels of leadership and influence in the marketing mix, IF they can expand their services and consistently deliver measurable value to their clients. Consider the following:

    • Social media participation is nothing more than relationships and communications through online channels. That’s what PR pros do — build relationships and enhance communications with audiences (employees, media, customers, prospects, vendors, partners).
    • While advanced search engine optimization (SEO) is both an art and science, and reserved for brilliant minds like Rand Fiskin and Danny Sullivan, most core SEO concepts and methodology can be easily learned and executed as part of a larger content strategy. Plus, platforms such as HubSpot create a low barrier to entry for PR firms interested in integrating basic SEO services (i.e. keyword analysis, on-page optimization).
    • It seems to be universally accepted these days that “content is king” in the new marketing world. Content marketing requires strong technical and creative writing skills, business acumen, marketing savvy and strategic thinking. Again, a perfect fit for the capabilities of top PR pros.
    • Content management systems (CMS) have made Web development and management far less complex. Websites have become communications and content distribution vehicles. As a result, professionals who understand brand positioning and buyer personas, as well as the content and social media strategies, should guide Website design and content. PR firms and Web developers are a natural fit for future mergers, acquisitions and partnerships.

    7 Tips to Advance PR Firms

    So what can PR firms do to secure their place at the head of the table?

    1) Accept that Perception is Reality.

    All of us in the industry know that PR is so much more than media relations and publicity, but noone but us cares. PR is, and always will be, perceived as an industry of publicists. Deal with it and move on.

    Expand your knowledge, capabilities, accountability and value, and evaluate how you position your firm in the marketplace.

    2) Become Measurement and Tech Geeks.

    We don’t all need to be on the cutting edge like Steve Rubel, but if a firm isn’t investing significant resources in technology, employing tech- and social-media savvy pros, and holding itself to strict measurement standards, it probably won’t be around much longer.

    3) Hire, Train and Advance Hybrid Professionals.

    With the wide-spread availability of free training and resources (e.g. Inbound Marketing University), there is no excuse not to develop hybrid professionals trained to deliver services such as: content marketing, social media consulting, blogging, search engine optimization, pay-per-click advertising, mobile marketing and Website development, as well as evolved forms of publicity, brand marketing and crisis communications.

    See 10 Traits of an Emerging PR Pro for more on hybrid professionals.

    4) Stop Charging Excessive Retainers and Hourly Rates.

    Seriously, think about the emerging firms coming up that have superior knowledge and capabilities in the high-demand areas of search, mobile, content and social. Do you really think the status quo is sustainable?

    5) Drive the Disruption or Become Obsolete.

    Disruptive Innovation can hurt, if you’re not the one doing the disrupting.

    This term, made famous by Harvard professor and author Clayton Christensen, and commonly talked about in technology circles, is going to be a very real issue for PR professionals.

    A few things to keep in mind about disruptive innovation in our industry:

    • It often comes from the outside, and once you realize what is happening, it’s probably too late.
    • Agencies will fail, and “experts” will become irrelevant. And this will be good for the industry.
    • Opportunities will arise for PR firms and professionals, and new career paths will be defined.
    • The underdogs and innovators will become the leaders.

    Disruptive innovation is already happening in PR, and it is going to change everything, including: pricing and service models, measurement methods, providers, tools and platforms, higher education, industry accreditation, budgets and organization charts.

    6) Be Remarkable. Think Content and Community.

    Have a vision, and breed a culture of innovation. Believe in something greater than yourself and your agency. Bring value to the community, publish great content, take a position, be unique and dare to fail.

    7) Stop Making Excuses. Start Taking Action.

    Change isn’t easy, especially in larger firms with huge overhead and a history of complacency. If you’re a rising star in a big firm, push for change, but don’t give your life to a hopeless cause. Know when it’s time to walk away and go to an organization where your efforts, energy and vision are valued.

    An Incomplete List of Innovators You Should Know and Follow

    There are professionals (some are outside disruptors) driving change in the PR industry that we admire and learn from daily. Here are some of the top minds who work tirelessly to advance their ideas and beliefs, and help evolve the PR profession:

    Follow the complete list here: https://twitter.com/paulroetzer/pr-innovators

    Have more? Add them in the comments section, or let me know on Twitter: @paulroetzer.

    Related Posts

    Paul Roetzer is founder and president of PR 20/20, a Cleveland-based inbound marketing agency and PR firm. He can be found on Twitter @PaulRoetzer

     Subscribe to receive the PR 20/20 blog by email or RSS feed.

  • Social Media in Regulated Industries: What You Are Up Against

    By Tracy DiMarino | Posted Jan 12, 2010 | 2 Comment(s) | Filed in: Social Media

    (This is part 1 of a 2-part blog series on Social Media in Regulated Industries.)

    According to the 2008 Cone Business in Social Media Study, “93 percent of social media users believe a company should have a presence in social media, while an overwhelming 85 percent believe a company should not only be present but also interact with its consumers via social media.”

    As more people are turning to social networks as a means to connect with businesses, organizations are increasingly using social media to:

    • Enhance their relationships with key audiences
    • Increase brand awareness
    • Perform market research
    • Expand their reach

    To do this effectively, they must continuously listen and respond to their audiences in a transparent and time-effective manner.

    However, some organizations face industry regulations, laws and company policies that severely limit how and what they can communicate online. Because of this, they must be careful when engaging on social networking sites. Failure to comply with established rules could result in lawsuits, fines, reputation damage and more.

    If you are in a regulated industry — such as: financial, healthcare, insurance, pharmaceutical, or alcohol, wine and spirits  — the first step in social media participation is to understand the risks and regulations you face, and then to develop strategies that fit within these regulations.

    Regulated Industries

    In this post, we’ll look into a few regulations. Later this week, we'll touch on some corresponding strategies.

    (Please note that this is not a complete list. For all the regulations that apply to your business, it is best to speak with your legal department.)

    Publicly Traded Companies

    First of all, if your company is publicly traded, you’ll have to face these regulations in addition to any industry-specific ones.

    The Securities and Exchange Commission (SEC) monitors the activities of publicly traded companies in the United States. The Regulations Fair Disclosure policy, adopted in 2000, mandates that all publicly traded companies release material information to investors and the public at the same time. Lack of compliance could result in charges of insider trading or selective disclosure.

    The article “Twitter: New Opportunities and Headaches for Companies,” also warns that publicly traded companies need to be cautious about providing forward-looking statements, without appropriate cautionary announcements.

    For guidance from the SEC on how publicly traded companies can interact on online public forums, see Release No. 34-58288.

    Financial

    The financial industry is composed of banks, financial institutions and investment companies. These institutions face numerous federal, regional and self-imposed regulations, including:

    Promotions must be fair, clear and not misleading. Because of this, most regulations center on full disclosure of terms, and features or availability of products and services (including pricing, rates, rewards, eligibility). For example, see the truth-in-lending and truth-in-savings advertising rules established by the Federal government in 1968.

    Financial organizations also face risks associated with security and the confidentiality of sensitive financial information. Social media should NOT be used to collect personal information from customers or prospects, as this could lead to incidents of identity theft or phishing.

    Finally, “financial institutions are generally required to retain copies of customer communications, which would presumably include Twitter tweets and Facebook comments, so a system for capturing this information and, if feasible, linking it to the customer's account record should be implemented.” (Andrew M. Baer, Social Media: Risk Management Strategies for Financial Institutions)

    Healthcare

    The Health Insurance Portability and Accountability Act of 1996 (HIPAA) protects the privacy of patients, by ensuring that their medical information is kept confidential. Because of this, healthcare organizations need to be careful that they are not disclosing personal information through their social media communications (this even includes the fact that a patient-doctor relationship exists).

    There are also regulations limiting to whom and what kind of medical advice healthcare organizations can provide. Disclaimers, such as the one found on WebMD, may be necessary to protect your institution.

    Pharmaceuticals

    Marketing of drugs and health care devices is monitored through the Food and Drug Administration (FDA).

    According to the article, “Why Pharma Fears Social Networking,” the FDA requires that all reports of adverse effects, which are communicated to a manufacturer, be reported to the FDA. Because of this, some consumer comments made on social networking sites could qualify as adverse effect notifications that must be reported.

    Note: The number of qualifying online comments is much less than most pharmaceutical companies think. A Nielson report, mentioned in a presentation by Johnathan Richman, found that only 1 in 500 online comments have enough information to be deemed adverse effect reports.

    An additional concern of pharmaceutical companies is the need to present information that is not “false, misleading, or lacking facts,” and that “shows a fair balance of the risks or benefits of the drug or device.” (Emily P. Walker, “FDA Begins to Shape Rules for Online Drug, Device Ads”)

    Space limitations of social networking platforms, such as the 140-character limit on Twitter, often do not present enough room to list all the information required by the FDA.

    The FDA is working on setting up guidelines to help pharmaceutical companies navigate online communications; however, no set policy is currently in existence. Public opinion on the subject is being accepted until February 2010. (Emily P. Walker, “FDA Begins to Shape Rules for Online Drug, Device Ads”)

    Insurance

    In his article, “Leveraging Social Media in Regulated Industries,” Jason Falls states that insurance agents/brokers can only give advice to people in the state they are licensed. This can cause social media complications, since the demographics of most sites span all geographic regions.

    For examples of insurance companies using social media, check out Jeremiah Owyang’s post on the subject.

    Alcohol, Wine and Spirits

    The Alcohol, Wine and Spirits industry can only market its products to individuals of legal drinking age. Companies are policed by a collection of organizations and associations worldwide. In the United States, the main association is the Distilled Spirits Council of the United States (DISCUS), which represents more than 90% of the liquor companies in the country.

    DISCUS holds its members accountable for being socially responsible by advocating that companies do not market on any platform where more than 70% of its demographics are under 21 (2009 Distilled Spirits Council Code of Responsible Practices). For a list of specific regulations that the spirits industry must comply with, see Jason Falls’ article "Leveraging Social Media in Regulated Industries.”

    To support these guidelines, Facebook has also established its own set of rules for alcohol advertisers, which can be found in section ten of its Advertising Guidelines.

    However, despite these regulations, some groups, such as the The Institute on Global Drug Policy and Practice, believe that stricter regulations should be put in place for advertising alcohol online.

    Overcoming Social Media Obstacles

    Although these regulations may seem overwhelming, don’t let them deter your organization from enjoying the business benefits of social media participation. Numerous organizations within regulated industries have been effective at participating on social media networking sites while staying compliant. For example, the Pharma and Healthcare Social Media Wiki contains a variety of healthcare and pharmaceutical companies active on social networking sites.

    As your customers and prospects continue to get more information from social networking sites (social networks and blogs are now the 4th most popular online activity ahead of personal email), it will be those organizations that don’t let regulations get in the way that will thrive above their competition. Therefore, be different, take a risk and disrupt your market.

    Check back later this week for part two of this blog post, featuring tips and best practices for participating on social media, despite your industry’s regulations.

    Social Media in Regulated Industries Blog Series Links

    Part 1 – Social Media in Regulated Industries: What You Are Up Against
    Part 2 – Social Media in Regulated Industries: How to Participate

    Tracy DiMarino is an associate consultant at PR 20/20, a Cleveland-based inbound marketing agency and PR firm. Follow Tracy on Twitter @TracyDiMarino.

     Subscribe to receive the PR 20/20 blog by email or RSS feed.

    Photo Credits: AMagill, Mr. T. in D.C., Nickreeleroz, Victoriapeckham, Pix Man V2.0

  • PR Industry’s Worst Enemy: The Irrelevant Aristocracy

    By Paul Roetzer | Posted Sep 4, 2009 | 1 Comment(s) | Filed in: Public Relations

    So after nearly a decade in the PR industry, I finally reached a tipping point this morning:

    Mr Magoo


    “I’ve been pitching media over 35 years. It’s true I use a news release format and yes, it’s one size fits all approach. But I have to tell you it works. By saying that you need to have the pitch a certain way to me is a fairly close minded way to be.” 
    — PR Gone Bad: How to Anger Bloggers and Hose Your Client


    Yup, after years of fighting against the negative perceptions created about our profession by what I have come to call the “irrelevant aristocracy,” one post from Jonathan Fields (@jonathanfields) put me over the edge.

    I don’t care what worked in 1980, 1990 or even 2000, and neither do clients, bloggers or mainstream media. None of that matters anymore.


    The PR industry is evolving from the outside in through disruptive innovation. Firms and professionals relatively unknown to the old guard, and ignored by the trade media and so-called experts and gurus, are introducing industry-changing philosophies, services and technologies, while the PR aristocracy (both individuals and firms) battle to stay relevant.

    Relationships and communications remain the foundation of the PR industry, but they are being fostered through social networks, Websites, self-published content (i.e. blogs, status updates, videos, case studies, eBooks), mobile apps and the media (mainstream and social).

    Our industry’s future depends on its ability to adapt, deliver measurable and meaningful results, and develop hybrid professionals who are capable of providing consulting and services across multiple disciplines, including: PR, Website development, search marketing, advertising and branding.

    It’s time for agencies to start demanding more from themselves, and for organizations to start demanding more from their agencies.

    If you’re a PR person, please take a few minutes to read Jonathan’s post in its entirety. It’s worth the time.

    PR Gone Bad: How to Anger Bloggers and Hose Your Client 

     

    Paul Roetzer is founder and president of PR 20/20, a Cleveland-based inbound marketing agency and PR firm. He can be found on Twitter @PaulRoetzer

     Subscribe to receive the PR 20/20 blog by email or RSS feed.


    Image courtesy of Market Oracle.

  • How to Monitor Your Competitors

    By Tracy DiMarino | Posted Sep 4, 2009 | 4 Comment(s) | Filed in: Brand Marketing

    I spent the other night curled on my couch watching Mean Girls and eating a big bowl of chocolate peanut butter ice cream. (Yes, I know. Be jealous.)

    Now, if you’ve seen the movie, you know it’s jam-packed with gossip, rumors, feuding and backstabbing among cliques of high school girls. And, that these same girls often go to extreme lengths to one-up their enemies. Because of this, it got me thinking about enemies (or in a business context —competitors), and what your relationship with them should be.

    Mean Girls


    Overall, I think the soundest strategy is to think like Chinese general and military strategist Sun-tzu who once said, “Keep your friends close and your enemies closer.”

    With this strategy, you are aware of your competitors and what they are doing; therefore, you know what to expect. This inside look into your competitors helps you better position yourself to attract customers by enabling you to emulate their best practices while capitalizing on their weaknesses.

    With this being said, it’s important to do a thorough background check on your competitors and then to continue monitoring them regularly. Here are some strategies we use at PR 20/20 when performing competitor analyses for our clients.

    Give Your Competitors a Background Check

    Know your competitors’ strengths, weaknesses, opportunities and threats as well as you know your own. With the Internet, competitor background checks are easier than ever before. Here’s some suggestions to get you started:

    • Analyze your competitors’ Websites. What works well? What doesn’t? Are there aspects of their sites that you could incorporate into your own (i.e. blog, product directory, store locator, etc.)? How can you make your site stand out from others?
    • Find out who their customers are and what they are saying. Monitor review sites, forums and social networking sites to see what their customers like and dislike. What problems do customers face with your competitors’ solutions? Can your product or service fix those problems? How can you differentiate yourself?
    • Read any information your competitor publishes, including case studies, whitepapers, press releases, etc.
    • Research your competitors’ site performance. How do they rank for specific keywords? What words do they seem to be targeting? From whom are they getting inbound links? Is there an opportunity to get the same links?
    • Keep a database of competitor media coverage. Who is covering them? What are they saying? Is there an opportunity for you to contribute?

    Continue Monitoring Competitors Regularly

    Once you’re familiar with your competitors’ background information, make sure to stay up-to-date on their activities. By always knowing what they are doing, you can better position your company among them. Following are some ways to do this:

    • Sign up for the RSS feeds for your competitors’ blogs and/or media rooms, as well as any online newsletters they may have.
    • If your competitors hold online events, such as Webinars, make sure to participate.
    • Set up Google News Alerts for your competitors’ names and products or include competitor names in monitoring tools like Radian 6 or Scout Labs. Find instances where people are talking about them online in media or blog mentions. Read them.
    • Find competitors on social networking sites. Follow them on Twitter. Fan them on Facebook. Read their LinkedIn profiles. Know what type of content they are publishing and how their connections react.

    Differentiate Yourself

    By doing initial background research and then continually monitoring your competitors, you will begin to see what works and what doesn’t. Learn from your competitors. Emulate the tactics they use that find success, while improving on their weaknesses. Identify your key differentiators and then plan your strategy and messaging around that. In doing so, you’ll help your organization stand out.

    Don’t Forget About Disruptive Innovation

    Remember that all the competitive intelligence in the world doesn’t help if you don’t innovate. Don’t be afraid to do something different and take a chance, it might help you execute and adapt faster than your competitors.

    Your Thoughts?

    In what ways do you monitor your competitors? Share with me the benefits of doing so.

    Tracy DiMarino is an associate consultant at PR 20/20, a Cleveland-based inbound marketing agency and PR firm. Follow Tracy on Twitter @TracyDiMarino.

     Subscribe to receive the PR 20/20 blog by email or RSS feed.

    Photo Credit: Pink Rocker

  • Disrupt or Die: 6 Tips on Disruptive Innovation

    By Paul | Posted Feb 12, 2009 | 0 Comment(s) | Filed in: Business

    Every entrepreneur and business has a choice. Continue down the path of traditional wisdom and conventional solutions, or employ a strategy of disruptive innovation.

    According to Harvard professor Clayton Christensen, "A disruptive innovation is a new product or service or a new business model that doesn't attack the core market by bringing a better product to established users in direct competition with the leaders in an industry, but rather it comes into the low end of the market, either through a business model that can compete at much lower costs, can compete profitably at lower costs, or brings to the market a product or service that is so much more convenient and simple to use and affordable that a whole new population of people who previously couldn't afford or didn't have the skill to own and use a product can now own one." [1]

     

    For me, in this economy, it’s an obvious choice. I would rather be different, and take a risk based on something that I believe in, than continue to follow the established practices of industry leaders.

    When we introduced standardized services and set pricing into the PR industry in 2005, I’m sure there were plenty of professionals at traditional agencies who thought it was a ridiculous business model. As a matter of fact, most professionals and agencies today still seem convinced hourly rates and retainers are the only viable way to run a professional services firm.

    While they may be right, there isn’t a day that goes by when I’m not grateful I took a chance and gave myself the freedom to fail. After all, that’s what being an entrepreneur is all about.

    6 Things I’ve Learned About Disruptive Innovation

    1) Just because it hasn’t been done doesn’t mean it won’t work.

    When you have a vision to change the game and truly do something unique, most people won’t “see” it. That’s the first indication that you might actually be onto something. As Howard Schultz said, “Vision is what they call it when others can’t see what you see.”

    2) Take risks and dare to fail.

    Forget conventional wisdom and what the so-called “experts” say — look where that got our financial industries. Be different and follow your own path, even if that means faltering along the way, while facing doubt and criticism from your peers.

    3) Be bold and decisive in your actions.

    Have the confidence to lead. Never doubt yourself or your ability to succeed.

    4) Execute and adapt faster than your competitors.

    Focus on executing your business strategy and adapting to the countless factors that influence success and your competitive advantage.

    5) Have the passion to make your vision a reality.

    Many people have a vision for something greater, but it’s the entrepreneurs and innovators who combine vision with the passion to make it reality.

    6) Maintain perspective and cherish every moment.

    Don’t get so caught up in the destination that you forget to enjoy the ride. Take the time each day to appreciate the people and experiences that make life and business so amazing.

    Related Posts:

     

    Paul Roetzer is founder and president of PR 20/20, a Cleveland-based inbound marketing agency and PR firm. He can be found on Twitter @PaulRoetzer

     Subscribe to receive the PR 20/20 blog by email or RSS feed.

     

    [1] Holzner, Steven. How Dell Does It. New York: McGraw-Hill: 2006.

PR 20/20 Blog

The PR 20/20 public relations and marketing blog features trends, news, resources and technologies for underdogs and innovators.

Home | Subscribe

Connect with PR 20/20

Inbound Marketing Gameplan

Download Free eBook

A Marketer's Guide to Website Redesign

Download Free eBook