How to Profit from PR

Chapter 1: Reaching Your Constituents  

By J.D. Solomon
JDS Strategic Communications

"Newspapers just print bad news. They'd never want to print anything good about my business. I have nothing to gain by talking to the press."

Wrong.

Reporters and editors hear that all the time. The good news for businesses is that it just isn't true, at least not completely.

Still, the fact that such a belief is so pervasive means that millions of American executives are missing valuable business opportunities by failing to take advantage of the press.

Are you one of them? If you're like most business executives, you probably don't really trust the press. You likely shy away from exposure in the news media. Perhaps your view of reporters has been forged by watching 60 Minutes and hearing a few horror stories from friends about how they were treated in the press. You may believe that reporters are interested only in digging up dirt about your company.

What you may not realize, though, is that the vast majority of news published about businesses in American newspapers is good news. You may also not realize that you can exert a high degree of control over how your company is covered in the press. And you may not see that press coverage can offer many very tangible business benefits.

In fact, businesses can profit in many ways by establishing and maintaining a productive relationship with the local and regional press.

What kind of businesses are we talking about here?

Not the likes of IBM, Ford and Citibank, who are routinely covered in The Wall Street Journal, The New York Times, USA Today, and the major business magazines. Those businesses get covered whether they like it or not, and they have huge staffs who do nothing but deal with the press.

This series of articles is directed instead to owners and senior officers at the thousands of small and medium-sized businesses that make up the commercial communities of America 's cities and suburbs.

The vast majority of these businesses are left largely uncovered by their local newspapers. In fact, unless involved in a workplace accident, labor dispute or community controversy, most businesses would forever be ignored by the local press. Unless, that is, the owners and executives of those businesses ask for coverage.

And what about "The Press?" What exactly is that?

In this e-book, the press means your local weekly and daily newspapers and your regional business publications, if there are any. To a lesser degree, it also encompasses the trade press, those weekly and monthly publications devoted to specific industries. It excludes local radio and television because they rarely cover business news other than the stock market and the economy. And it excludes the major national newspapers and business publications because they focus primarily on the Fortune 500.

So how can you profit from the press?

You must first establish a productive, working relationship with the local business reporters and editors. As in all business relationships, both parties will want to use the relationship to accomplish different  — and sometimes conflicting or competing — goals. In this case, your goal is to get favorable coverage of your business in the newspaper. The goal of reporters and editors is to publish news about your company and industry. Your role in the relationship should be to help reporters and editors do their jobs in such a way as to accomplish your goal in the relationship.

The relationship is most productive when reporters and editors are knowledgeable about your business and industry and evenhanded in their coverage  — and when you are cooperative and forthright with them. Unfortunately, this kind of relationship is rare, despite the fact that it is easy to attain..

What do you have to gain by such a relationship? Where is the value to your business in coverage by the press?

There can be lots of value to the kind of press coverage that comes from a good working relationship with the local newspaper. Finding and assessing the value, though, requires an understanding of the multiple audiences, or constituencies, that you will reach when you and your business are covered in the press.

Every business has different constituencies, groups that have some interest in the firm's operations and growth. At various times, a business owner may wish to send messages to all or some of those constituencies. The local business press can be a very effective vehicle for reaching those groups.

For example, consider a story about trends in your industry that quotes you as an authoritative source. That story is likely to be seen by existing and potential customers and by your competitors and their customers, to name just a few of your audiences. Each of those audiences may have a different perspective about your business, but each will come away with a higher opinion of you and your firm.

Who are these constituencies and what are their interests?

• Employees, who are hungry for information about the overall health of their company. They also want news about labor relations, benefits, and salary structure. They are particularly interested in how their company stands versus other area businesses of similar size.

• Prospective employees, who may be weighing the merits of working at your firm.

• Regulators at the federal, state and local levels, who may be in a position to make decisions affecting your firm.

• Investors and potential investors, if your company is publicly owned. They are looking for news reflecting your financial standing, the quality of your management team, and the future potential of your business.

• Competitors, who have a strong interest in your business and to whom you may want to send messages about strengths and accomplishments.

• Customers and potential customers, including those of competitors, who want to know about your products and services.

• Vendors, who are concerned with your financial health and your growth plans.

• Neighbors, who are interested in your community involvement and the impact of your business on the local environment.

Of course, it is important to remember that you can't send messages to specific constituents selectively via the newspaper. Everyone will see the message, so be careful of your timing. Getting the word out to customers, vendors and investors that your firm is in excellent financial standing is usually a good idea, although perhaps not if you are about to enter into labor negotiations.

The bottom line here is that good press relations is really good constituent relations. By nurturing your relationship with the press, you will — over time — reap new customers, add good will, improve employee morale, help with recruiting, and improve community and government relations.

Next — Chapter 2: Three Basic Rules