Traditional Media Trumps New
- Blog popularity is by no means stalling, but a new study released by Burson-Marsteller this month suggests that traditional media is still highly valued by the "most
influential members of the online community as they carry out their roles as information and opinion providers."
Among the findings:
- 80 percent of respondents say they read blogs but carry out further research to confirm what they find
- 64 percent fact-check blog entries against news or magazine Web sites
- 44 percent fact-check against print articles in newspapers and magazines
- 49 percent cite online news sites as the most credible sources of information about companies, while 48 percent turn to traditional newspapers and magazines
The results are dichotomous for communications professionals who, in the midst of the new media blitz, have been forced to redirect their attention from traditional outlets to
more up-and-coming alternatives like blogs, podcasts and online communities. For some, this survey may be an impetus (or an excuse) to reaffirm their faith in paper products.
Creativity Economy Ups The Comms Ante
- Last month's survey from Weber Shandwick, conducted by KRC Research and entitled "The Changing Face of Marketing and Communications in Today's Creativity Economy," points
to an emerging migration from a knowledge-based to a creativity-based economy and suggests that the marketing/communications industry is evolving accordingly.
The survey, which polled more than 100 CEOs and CMOs at Fortune 2000 companies, reveals senior executives' thoughts and strategies to meet the needs of consumers in this
changing business environment. Given an increasingly creativity-based economy, for example, there is a growing emphasis on understanding and incorporating the customer's
viewpoint and on marketing/advertising expenditures that enhance the way consumers think and talk about the company itself, not just the product.
Among the findings:
- 86 percent of respondents feel that the marketing and communication function has become an increasingly important tool for business success
- 84 percent said their company is changing their advertising/marketing and communication practices based on the Creativity Economy concept.
- 80 percent see tighter collaboration between product development and marketing
- 73 percent find their marketing function becoming more actively involved in the research
and development or product development process at their companies.
- 68 percent stated that their communications practices are expanding as a result of the Creativity Economy.
Shareholder Activism
- A new study released by Thomson Financial last month revealed that shareholder activists are achieving their goals with growing success rates, thus prompting the need for
open lines of communication between activists and management.
The findings include:
- Surveyed activists showed an 80 percent success rate when specifically targeting the removal of a CEO
- Examples of opening communication with activists (Wendy's, McDonald's) led to increased capital with investors
- Closed lines can negatively impact stock performance, as they did in the cases of Salton Inc., Ligand Pharmaceuticals and Nabi Biopharmaceuticals
Sorry No More
- Bad news for the apologists among us: The "Safeguarding Reputation" study released by Weber Shandwick last week revealed that, of the 950 global business leaders surveyed,
a 59 percent majority see public apologies by CEOs as less effective than other strategies when it comes to crisis and tarnished reputations. Instead, respondents identified the
following as the best steps to reputation recovery:
- Announce specific actions the CEO will take to fix the problem and create an early warning system (76 percent)
- Establish procedures and policies the company will follow to demonstrate its commitment to being a responsible citizen (73 percent)
- Work closely with legal counsel on public disclosures (72 percent)
- Issue regular public progress reports to address the problem (71 percent)
These findings, while in conflict with human nature's tendency to apologize now, act later, should serve as an impetus for PR professionals to start tweaking that crisis
management plan ... again.