A friend of mine once said that if I ate a Snickers bar that I should put out a press release about it. I'm not so sure about that, but media relations is a large part of our corporate marketing strategy.
A media campaign can be designed around almost anything. For example, we send out a press release for every large event such as auction and when we bring on new staff. In addition our local business paper, Business First, holds a free networking breakfast about every 7-8 weeks. These events are great for seeing the reporters in a relaxed setting as well as networking.
I am writing this post because I get the impression that some folks are possessed about new marketing venues such as blogging. Not that blogging is bad. Quite the opposite, but the old school ways should not be totally discounted.
It is said that being quoted in the news media is the best advertising you can get. Someone else is proclaiming you the expert.
To prove my point (and pat myself on the back) I point to the last 12 months in our local market. There have been 3 articles in about projects I am involved in and 2 about market conditions where I am heavily quoted. I also regularly receive calls from reporters to get background for things they are writing about, to check facts and (drum roll) to get referrals to other local experts in town. There are an easy 6 articles out there in the last 12 months where I was able to direct the reporter to another expert that I do business with. The reporters remember it and so do the people I refer them to.
Something else that is neat is that I can track web hits and incoming call volume increases back to the days following sending out a release. It is significantly higher following an article with my name in it.
In short, media relations is good for business.
If you have never written a release before there are a ton of places online that can give you tips, just Google "press release tips". Who, What, When, Where, Why, How and Company Information.
The next thing to do will be to get that release out to the reporters. I have gone two ways. First, you can search your marketplace getting the names of the reporters in your field of choice and contact them about how to send a release. Most will want email while some of the smaller publications will still request a fax.
The second way would be to use a service such as http://www.prweb.com/. This is more global and has a fee associated with it.
I use both, but my personal list gets the most results. Part of that is due to the relationship I have developed over time.
Good luck.
R
Do you have questions about distressed assets, receivership or bankruptcy sales, auctions? Email me at rfk@gryphonusa.com and I'll try to answer it in an upcoming post.
Richard F. Kruse is the President of Columbus, Ohio based Gryphon USA, Ltd. (www.gryphonusa.com). The Gryphon Organization includes Gryphon Asset Management providing receivership and consulting services in the distressed marketplace, United Country Gryphon Realty & Auction Group (www.ucohiorealty.com & www.ucohioauctions.com) providing real estate brokerage and auction services throughout Ohio and OnlineAuctionUSA.com (www.onlineauctionusa.com) providing commercial asset liquidations from the Midwest to East Coast.
United Country Gryphon Realty & Auction Career Opportunities Available. Call 614-885-0020 x 17
Rich, good advice. I once had a Press Release turned into a feature article in a local newspaper. Thanks for the reminder.
Good Post!
Oooh. Sorry Joe. Our contact list and ability to obtain free press is one of the selling points in our proposals. I am looking to bring in people to focus on the consumer side though.
Rich
Hi Rich,
Interesting. I'm a little embarrassed to say this is something I've never really utilized for my own company over the years. We're a smaller independent co. and it seems like those who spend the most buck in the print media get most of the exposure. However...truthfully I'm not so sure I've pressed the issue enough as a broker-owner myself.
Thanks for the reminder and heads up on the link.