Just as Wall Street won't let a company pull off an IPO without real profits and strong business fundamentals, reporters will no longer cover companies that don't have their
ducks in a row. PR practitioners need to adapt quickly, or lose credibility with the media.
A number of factors determine the when's and how's of pitching credible stories [on behalf of clients who demand ink]. We [at LaunchSquad] call the aggregation of these factors
the "Validation Quotient." Here are some examples:
Partners: Often as powerful as customers, especially in cases where
a well-known partner can make a tiny company seem bigger.
Management Team: Having charismatic, credible, experienced spokespeople
can play a big part in building a well-rounded story for the press.
Product Readiness: Showing a demo, when possible, is oftentimes the
most tangible way for a reporter to understand the pitch.
Financial Backing: A reporter is not likely to stick his neck out for
a company if no one has ponied up the cash.
Clear, concise differentiation: Create three to five high level messages
that clearly articulate why your company or product is different and better
than the competition's -- real or perceived.
--Jason Mandell, Co-Founder, LaunchSquad, San Francisco (415/625-8555; [email protected])
It's crucial to clients that an agency know their products and their media and can provide the strategy and tactics to reach their markets. Part of this lies in showing how the
agency's strengths match the client's real needs. If you're a shop of gray-bearded consultants, client prospects may not look to you to do mailings or stuff press kits. Likewise,
they may not believe that a young, hot shop of tactical publicists would make great strategists. It's important to recognize that clients, like all of us, bring certain biases to
relationships.
We've learned that client relationships sink or swim on the proof. Clients want to know who will oversee, manage, and execute their account. They want measurement and
documentation from agencies that are spending their money. They want details on everything from proposal to execution to the final report of PR results.
--John Pearce, Founder & Chairman, MediaMap, Watertown, Mass. (617/393-3200)
John Pearce will speak on New & Better Techniques in Measurement at the PR Strategies Forum, September 20-21 in Washington, DC. To register, see http://www.PRandMarketing.com/seminars/prsf.