Category Archives: Media

5 Things we can learn from Murdoch.

Written by . Posted on August 3, 2011. Filed under Customers, Financial, Leadership, Marketing, Media. No comments.

If you are anything like me, you are probably fed up of the daily headlines concerning the systematic hacking of phones by News International and/or the people it engaged. Some of the alleged incidences are shocking and despicable without doubt, but to me, the whole sorry tale is an indicator of the culture of the organisation. Even a little humility in front of the parliamentary select committee has done little to quell the storm. But what can we learn from the way Murdoch runs his business?

1. Power can be dangerous

I doubt that humility is often witnessed in Rupert Murdoch’s boardroom. He has always appeared to be an insular character, who has surrounded himself with people who have been highly dependent on him, owe him everything and have therefore, been reluctant to tell him what he needs to hear. Leaders need an independent viewpoint. It’s hard to be impartial and dispassionate about the business you’ve created. That’s natural. And that’s why an external perspective from someone with no agenda, who is prepared to say what needs to be said and ask the questions that need to be asked, is important to any business.

2. Success can be dangerous

There is no question that Rupert Murdoch is one of the most successful media figures in history. But success can make you blind to the need to change, the need to understand the changing needs and values of your clients. There seem to be no lengths that News International (and the News of the World in particular) wouldn’t go to to get an inside track into the lives of celebrities and victims of crime. As Jason Fried and David Heinemeier Hansson say in their brilliant book Rework, “Culture is the by-product of consistent behaviour”. Need I say more? Success in the past is no guarantee of success in the future. Be humble and willing to learn from others.

3. Profit before principles will kill you eventually

News Corporation have been around for many years. The News of the World even longer. Whilst the shareholders of News Corporation seem to have been comfortable investing in a “family” run business, due I am sure to decent returns, they are now paying a price as it’s shares trade at a lower multiple of earnings than any of it’s competitors. Putting clients first will bring your clients back again and again and will lead them to readily refer you.

4. Reputation is everything

It was clear that the News of the World was on the slide when it’s biggest ticket advertisers began to distance themselves from the paper and started spending their advertising budgets elsewhere. With it’s reputation shot to pieces, the demise came very quickly and was almost inevitable. Recovery would have been a long hard road with no guarantee of success. Manage your reputation.

5. Show you care. Really care.

In the early days of the crisis all the footage and photos of Murdoch showed him grinning like a cheshire cat. What impression did that leave with the public. Arrogant? Uncaring? Detached? Disconnected from reality? The show of humility in front of MPs, even if genuine, was too little too late. Show your clients you really care. As a potential client, I don’t care how much you know, until I know how much you care!

Business Insights Newsletter Launch

Written by . Posted on May 4, 2011. Filed under Customers, Financial, Leadership, Marketing, Media, Personal Effectiveness, Pricing, Proposition, RDR. No comments.
I wanted to use this week’s post to make you aware of the exciting launch of our new e-Newsletter for financial planners and advisers called Business Insights. We’d really like to include you as a recipient. To help you make an informed decision about whether our newsletter is likely to be worth reading, let me explain what it is (and more importantly what it isn’t) and what sort of content you can expect from Business Insights.
Who is it aimed at?
Our target distribution are those planners and advisers who accept that they don’t have all the answers (who does?) and are keen to benefit and learn from the collective expertise and experience of thought leaders both from within and outside the financial planning arena.
What does it cost?
Nothing, nada, zilch. Now or ever. Our passion and purpose is simply to offer practical relevant business insights to UK advisers to help them build better businesses.
What about the content?
Let’s start with what you won’t get. You won’t see any of the following…
  • provider ads or promotions
  • “sponsored” articles or links
  • links to material where we receive an affiliate fee (all content will be included based purely on value and relevance to the readership)
  • annoying pop up sales banners
  • sales pitches or advertorials
What you will see is regular, informative, helpful, practical, though provoking features and links to material on…
  • Adapting your business model
  • Delivering an outstanding client experience, time after time
  • Pricing and how to charge fees confidently
  • Creating a compelling client proposition that’s worth paying for
  • Managing and motivating your people to get the best out of them
  • Practice Management and Process Improvement
  • Marketing your services effectively
  • Measuring what matters
  • Honing your presentation skills
  • Client contact and communication strategies
  • Investment insights (educational and generic, not sales pitches)
  • Links to helpful tools, tips and templates
  • Personal effectiveness and time management
  • Staff selection and interviewing skills and techniques
  • HR Best practice
Some of the content will be written by me, but most will be written by other experts, specialists or thought leaders in their respective field. People I have followed or become connected to and whose views and opinions I respect, value and am pleased to share (and who have agreed to let us do so). One thing is for sure, all the content will be highly practical and relevant to advisers and advisory business owners. Each newsletter will contain something for everyone.
So, if this sounds like the sort of newsletter you’d like to receive on a regular basis, you need take no further action. As a subscriber to the blog we will happily send you the first edition of SB Business Insights in the second half of May.
If on the other other hand you’ve already got all the answers and don’t believe that Business Insights can help you in any way, just reply to this email with “No Thanks” by 13th May 2011 and we’ll remove you from the circulation database immediately and leave you in peace. Alternatively, why not give it a try. After all it’s free. And if it really doesn’t add any value for you, or your business, you can unsubscribe at any time. Go on, at least satisfy your curiosity.

Successful PR – How to gain valuable PR coverage for free (4)

Written by . Posted on April 27, 2011. Filed under Customers, Marketing, Media. No comments.

In the final post of this series on Successful PR we’re going to turn our attention to which publications to target and how to communicate effectively with the media.

Which publications should you target?

This can be a competitive space so it is worth knowing whether the publications you target have any similar content currently and how good it is. That way you might be able to offer something fresh, vibrant, a different more engaging approach or more relevant content.

The key information you need to establish is… What do your prospects and clients read? The only way to find that out is to ask them. They may or may not read the local newspaper if there is one. They probably read their respective professional publications, but either way you need to find out. Many advisers have built themselves a high profile in the trade press, which is fine. It can add value to be able to demonstrate to clients and introducers that you are an influential or respected figure in your sector, but most clients and introducers won’t be going anywhere near your trade press will they? To reach your target market directly they have to see you in the publications they habitually read.

So ask them as part of your conversations and meetings with them. Ask them which ones they prefer. It will all help to give you a feel for which publications to target.

Search internet for publishing houses and individual publications with titles which could reach the sorts of client you are looking to attract. If there are any online publications or other businesses that offer non-competing services to your target market, explore the possibility of writing articles or content for them. This works. I supply material for a small number of firms who send regular electronic newsletter to their adviser database. These firms offer complimentary services, such as IT or compliance solutions, or email newsletter capability. These newsletter articles are amongst the top 10 sources of traffic to my website and following one recent article, I received 8 enquiries about a practice management evaluation tool I was offering.

Your local Chamber of Commerce or Federation of Small Business should be able to supply you with media lists to help you with your search.

You can also take a look at the Audit Bureau of Circulations (www.abc.org.uk) This is principally a subscription service, but you can, without subscribing, search by industry sector or subject, to identify any publications that, for example, are aimed at the medical profession, or lawyers or the construction sector, or farmers or whoever your target market is. Well worth 30 mins of your time. It will tell you who publishes what, what the average circulation is and will have all the contact details you need.

  • Phone them and request current and back copies
  • Ask if they have an editorial policy?
  • Who is the person to speak to regarding editorial?
  • What are their forthcoming editorial deadlines?
  • Are there regular features, news articles, top tips etc

The key to creating long term relationships with these publications is always to approach things by asking… “Where can I add real value to this publication and how?”

Communicating with the media

Let’s look at a few do’s and don’ts when communicating with the media.

Always call them first.

Don’t send anything unsolicited. By them I’m specifically referring to the news or features editor depending on whether you are pitching a news story or feature editorial, but be prepared with your newsworthy bullets in front of you. Needless to say you need to be positive and enthusiastic. It’s infectious.

Be professional.

Let them know that you have an idea that readers will be really interested in/learn from/find engaging . Show them that you know a little bit about the publication based on the research you’ve done. Tell them what you like about it.

Establish your credibility.

Tell them about any other publications you’ve been featured in or refer them to helpful materials on your website, offer to send them a high level biography, tell them about your experience and by all means refer to any trade press profile you may have developed.

Journalists want exclusives.

They want to know that they’ve got a story no-one else has got. They also want original copy rather than material that was published somewhere else a few weeks ago. So don’t be afraid to offer them an exclusive because they’ll probably ask if you’ve offered the piece to anyone else. And be prepared to listen. They might not like your idea but may well ask if you would be prepared to do something on a different topic.

Once they give you the go-ahead you simply need to find out

  • How many words they are looking for (and don’t exceed it)
  • What the copy deadline is?
  • Who to send it to and in what format and then confirm what has been agreed by email.

As I said in the very first post in the series, PR isn’t rocket science. With a little effort, time and creativity, getting positive PR in the media isn’t as hard as most people think.

 

Successful PR – How to gain valuable PR coverage for free (3)

Written by . Posted on April 20, 2011. Filed under Customers, Marketing, Media. No comments.

In this week’s post, we’re going to take a look at how to write a compelling Press Release.

To avoid being consigned to the wastepaper bin it’s important to get the layout of your press release right. Here are some top tips to help you do that.

Finding a hook is critical

Every good press release needs an interesting angle, irrespective of the type of content, whether it be top tips, or an interesting news item. If you don’t have an angle, you’re unlikely to make the cut. Start looking for that angle early in your thinking.

Create a strong title headline and opening paragraph

Strong headlines tend to be short and to the point and shouldn’t exceed 1 line of text. It doesn’t have to be clever or gimmicky, like what you might find on the front page of a tabloid newspaper, but it does have to be both accurate and relevant to the text that follows. For example if you were using the Top Tips approach you might use “5 top tips for beating the taxman…legally.”

The opening paragraph is one of the most important parts of your press release. If it lacks impact or doesn’t relate closely to the headline it’s likely to be discounted. Focus on one or two compelling messages. The opening paragraph is so critical that you should probably spend as much time writing it as you do on the rest of the press release. If you’ve got facts and stats to share, they belong in your opening paragraph.

Reference your website.

Remember also that the journalist is sure to check out your website so make it easy for them to do so by including your web address.

Use quotes

Journalists love quotes because they add real human interest. They’ve got to be interesting but quotes really help. If you look at any press release, it almost always contains a quote from someone from the business concerned so include a quote from you, a client or a member of the team.

Length and look

Keep your PR to one side of A4. It’s not an endurance test. Communicate your key points succinctly and don’t ramble on. Bold and italics are okay to reinforce or highlight key points but stick to one typeface/size and resist the temptation to scatter capital letters and exclamation marks here there and everywhere.

Author Blind Spots

We all know that it’s easier to see typos and spelling mistakes on someone else’s work than our own. Get someone to check your article or press release before sending it.  Spelling, grammar, typos, does it flow well? Editors love material they can just place into their publication without too much effort on their part.

Include a brief company description

This should include the name and full contact details of the person the editor can contact for further information.

Now you know how to write a half decent press release, next time we’ll look at which publications to target and how to communicate effectively with the media.

 

Making the most of Social Media

Written by . Posted on March 2, 2011. Filed under Customers, Marketing, Media. No comments.

More and more advisers are now looking to Social Media as the next phase of their “marketing” strategy. However, many are still sceptical of the benefits or wrestling with the compliance implications or wondering where they can find the time for yet another “distraction” (and it can become one if you let it).

There is no question that Social Media can be an effective component of your overall marketing strategy. Component is the key word here. It will not result in a flood of immediate enquiries and it cannot replace more traditional marketing activity but it most certainly can supplement it.

The best explanation I ever heard of social media came from Keren Lerner of Top Left Design. (Check them out at www.topleftdesign.com). She told me that social media simply provides a way of developing a virtual relationship with potential clients to the point where you can move the relationship into the real world (face to face). For example, someone is far more likely to agree to meet up for a coffee if they have got to know, like and trust you online first.

Will it generate additional revenue for your business? Well it certainly can, but one of the reasons for some of the scepticism is the lack of hard data around Return on Investment, though I do know of advisers who have seen significant increases in website visitors and enquiries as a result of social media activity. It’s only a short step from there to put some robust MI around it by accurately recording enquiry or client source.

So what can social media do for you and your business? You can…

  • Extend your reach and cast your net wider
  • Build an audience of prospects that are in your target market
  • Get you marketing messages out to a wide audience at no cost
  • Get the added benefit of viral marketing as connections and followers pass them on to their other connections and followers
  • “Do it” any time of day or night or even when you just have a few minutes to spare
  • Build your reputation as an expert in your field
  • Share insights’ knowledge and tips and direct people to your website
  • Join relevant groups to broaden your connections and build your reputation
  • Get recommended publicly
  • Get introduced to people in your target market and to “Centres of Influence”

Key tips for using social media are to be yourself; be authentic, credible, honest and different. Seek to provide engaging and relevant content and offer value and expertise. Social media represents a fantastic way to get your message out to your target market and to move total strangers through the “know”, “like”, “trust” phases of a virtual relationship into a real world, face to face, long term, profitable client relationship… for free (financially at least).