Posts Tagged Media Monitoring India

Growing importance of Media Monitoring for CXOs

An open question to the CXOs.

Can you deny media?

While the obvious answer will be ‘NO’, in this post, I will tell you why and how effectively you can utilize media monitoring agency specifically during crisis.

Information, in this post, is the data or message which the journalist analyzes and reports based on a research, interview or survey about a particular industry

Media is the first and foremost source of such information for CXOs because it forms a right vehicle to reach the stakeholders of an organization. When messages interpreted wrongly, it can affect the company’s growth.

Information can be…….

1.      What’s said about you in the media? – Either positive or negative, this directly affects the company’s growth, image and employee motivation

2.      What’s said about your competitor in the media? – You can monitor the growth of your competitor and track their strategies

3.      What’s happening in your industry? – Get an overall report or analysis of your industry.

An organization or a CXO should gather information to run a successful business in the competitive industry which on a daily basis is impractical. Because in a country like India there are a number of mainline, financial and regional dailies, and business and trade magazines. Any information published irrelevant to the company can spread rapidly as a wildfire and affect its image. The outcome, in the initial stage, also cannot be measured. The response time given to the media department is much less and here needs the help of the expertise of a media monitoring agency to analyze its consequences.

A CXO can utilize the media information in these ways.

1.      Identify the Journalist (Influencer) who writes about your industry

2.      Monitor the reporting style and other area of interest

3.      Monitor the stories reported on your competitor by the journalist

4.      Develop a rapport with the journalist

5.      Make a direct connectivity

Now all these can be accomplished with the help of a media monitoring agency. The media monitoring agency stores a large number of media articles of various industries. You can search the articles on the basis of journalist and publication by specifying the date.

In case of crisis, you can get the whole history of the journalist’s past stories, analyze the reporting style and arrive at a point about the tone of the interview you have on the next day.

For example – if you are the CEO of a company and you have an interview with a journalist of a top financial daily. To make the scenario even worse, your company is in a crisis situation.  How would you prepare for the interview……. is a big question in front of you? Luckily, your media department has subscribed to the services of a media monitoring agency. What you can do is….

  1. Sit with your Corporate Communication dept., and search the past stories of the journalist
  2. Find the reporting tone of the Journalist whether it is positive/negative/neutral stories
  3. Depending upon the tone of the reporting style, now ask your Corporate Communication Head to jot down the expected questions of the journalist
  4. Make a mock interview with your Corporate Communication Head and prepare for the interview
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Time has come for PR agencies to use external expertise to keep clients happy

Happy Clients = Growth + Steady Revenue

One can’t doubt the above equation, but the question is – how can we keep our clients happy?

Now I am not going to discuss client strategies, media relations or crisis communication; I am not an expert at that. However if you are a PR agency, I’d like you to take a look also at how things are handled within your agency, and the effects it has on your deliverable to your clients- possibly leading to dissatisfied clients.

Clients seek a consultant in a partner and more so in a PR agency. The PR agency brings intellectual expertise on the table, else the client could hire few PR resources themselves to serve their need, isn’t it?

This being true, then take a look at how is the intellectual time of PR executives within the agency is invested? Quick estimates of the time spent by the executives suggest that 70 to 80 % of their time is spent on mundane activities that do not require their scale of intellect. These time consuming activities are- monitoring, news dissemination, news evaluation, preparing reports, research… I am sure some of you might want to add more to this list.

Now I am not suggesting that these activities are not important, infact they are critical, but they do take away a huge chunk of intellectual time of the executives.

Instead the clients would be better served if the executives invest time in –

–          Analyzing the report of the PR activities
–          Providing cerebral inputs to the clients
–          Strategic communication objective

But if the executive is spending more than 70% of their time in mundane activities, where is the time for them to analyze? This can only be possible if you use outside expert help instead of your people time.

Of course there are several agencies that have built processes internally to deal with these tasks, it is not as if they didn’t know of the problem. But only a handful of agencies have successfully been able to reduce the burden of mundane task from the executives and utilized their time more resourcefully. This is largely because of lack of economy of scale or lack of readily available technology to save time and effort.

To sum it up if PR agencies truly want to keep clients happy then they must seek external expertise for the critical yet laborious tasks of monitoring, analysis, reports, etc. This will not just increase the productivity and therefore more profits, but will also provide greater value to your clients.

Executive’s Total Intellectual time – Mundane activities = Happy Clients

This article is written by Piyush Jain, Business Head of bluebytes news pvt ltd. He can be contacted at piyush@bluebytes.info.

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