Objections to PR Spending Answered [Abbott Media Group]

 

"I can't afford public relations to build my company's reputation." Really? If you aren't building a reputation, customers won't view your company as reputable, and will visit your competitors. You are either losing or gaining a good reputation every single day. Guess what's happening to your business if you are ignoring it?

"Money is tight. There's a recession coming." Money will get even tighter if your customers stop using your products or services because they don't know how they will benefit from using them or they don't grow to like your company.

"PR isn't effective." it may seem that way in the very beginning, but even short-term PR campaigns can reap great benefits by changing perceptions of your company or the services that it offers. 

"the PR people on the internet promised to get my name in the paper a few times for a flat fee."  Public relations, when done right, isn't just an ad or mention placement service. Anyone with media contacts can get you into Dog Journal or a community shopper or other irrelevant media that won't drive sales, and PR is meant to be a long-term relationship in which the professional gets to know your business and its needs.

"We tried public relations once, but they charged too much and it wasn't effective." The fact that you overpaid, probably for people who were new to the profession, doesn't mean you should judge an entire field on one bad experience. Generally, you get what you pay for. But there are some people who price gouge in every field, whether it's your mechanic, a hospital, or a fancy restaurant. You wouldn't hopefully judge all mechanics, hospitals and restaurants based on those bad experiences. And it's hard to believe anyone would say,  "I tried a mechanic once, but they charged too much. I'm never going back to one."

4 Ways To Build #Trust With Your Customers [Abbott Media Group]

People will do business with those whom they trust. Public Relations is an effective tool to help you build that trust with your customers.

There are several ways a PR can help you to begin to build trust with your customers and with future (potential) customers. Among the most important of them are Consistency, Courtesy, Care, and Community Involvement.

Consistency is a critically important factor in a business' future success. There's a reason why fast food restaurants, pet stores, hotels, and hardware chains, among others, are so popular. Ideally, they offer consistent service and products in multiple locations. Customers know they can get the same products and services offered for about the same price, wherever they go. For some, that may seem "boring," but customers actually yearn for boring over the alternative: inconsistent service and the inability to get their favorite products.

Public Relations professionals can guide a business to craft and disseminate standard internal policies, graphics and messaging that will help create a consistent experience for customers.

Courtesy is also an important factor in building Trust. If service is offered in a cold manner, or worse, in a rude manner, the bond of Trust between a customer and a business is broken. This is even the case in a long-term business relationship. There's no such thing anymore as a small incident of discourteous conduct. Even one incident in which a customer is treated poorly can ruin a company's reputation in this era of instant online reviews and cell phone videos.

A Public Relations professional can help isolate and identify areas in which internal standards aren't being met, and can, once those are addressed, help repair and rebuild Trust with customers who experienced a lack of courtesy during a business transaction.

Care is shown in a multitude of ways by a business, and customers recognize when it's not there, contributing to a lack of Trust. Products or services offered in a sloppy, slapdash way can instantly signal to the customer that the business doesn't really care about them. Caring isn't a small thing, it's a major thing, and in fact, should be a top concern of any business. If you're not in business to care for the customer, why are you in business? 

Care can be bolstered by proper training and internal messaging that makes it clear that business owners have high expectations of their employees. (Caring generates caring.) PR can deliver those internal messages in a compelling and clear way that leaves no doubt that Care is required from everyone.

Finally, Community Involvement can be a tremendous trust-building tool. While some effort should be made not to alienate a customer base with involvement in overtly political or controversial causes, showing concern for one's community is more than a gimmick to grab headlines.

Instead, it shows that a business is intimately tied to the community in which they do business, and that they care about their customers' well-being, not just as a source of cash. Public Relations professionals can help identify community activities that reflect well on a business and help this involvement lead to stronger feelings of trust with their current and future customers.

For more information about building Trust, visit Abbott Media Group at www.abbottmediagroup.com.

The Robinhood PR Disaster - What They Must Do To Make It Right [Abbott Media Group]

When the lists of 2021 PR disasters in business is written next January, Number One on that list will likely be the Robinhood app debacle of this week that left their reputation in tatters.

THE SITUATION:

The Robinhood app, which allows average investors access to the stock market, buying trades without fees, abruptly froze users' ability to buy shares of some hot-selling stocks, among them GameStop and AMC.

Of course, they were "hot" because the internet, specifically the Reddit online chat boards, had made them so, deciding that these stocks - and they companies they represent - shouldn't actually fail (as the hedge funds had decided they should, and were "shorting" their stock in anticipation of their immanent deaths.)

This caused both stocks to rise "to the moon," as many on Twitter put it, and cost the hedge funds BILLIONS because their bets now were suddenly wrong.

Enter Robinhood, which had tweeted early on in its life, "Let the people trade." That slogan became one of bitter irony when, on Wednesday, upon rumored pressure from Wall Street hedge funds and even the Securities and Exchange Commission, they froze the ability to buy further stocks in these two hot properties (but still allowed sales.)

They posted a message which said, in part, "In light of current market volatility, we are restricting transactions for certain securities to position closing only, including $AMC and $GME."

While other brokerage firms reportedly did the same - including TD Ameritrade and other big names - Robinhood received the brunt of the online firestorm that soon erupted. And in the age of Twitter, the reaction was a tsunami of anger and criticism.

What Chris Buskirk, a contributing writer for the New York Times tweeted was typical:

"$AMC was struggling due to COVID lockdowns. Hedge funds shorted the stock to force bankruptcy.

Small investors saw an opportunity & bought $AMC driving it’s price up. $AMC raised $900 million, saved the business & 1000s of jobs. But they’re the bad guys for saving the company?"

One investor said, "There is no free market. There is only a manipulated market that is built to enrich hedge funds. The "capitalists" on Wall Street are being exposed as a bunch of cry babies who aren't actually that smart. If they were so good, why not compete in the free market??"

The cynicism did not end with investors. Politicians were also    quick to express outrage at Robinhood.

New York Democratic congresswoman Alexandria Ocasio-Cortez called for hearings in Congress about Robinhood and its actions. 

"This is unacceptable. We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit. As a member of the Financial Services Cmte, I’d support a hearing if necessary."

U.S. Senator Ted Cruz (R- Texas) agreed with the liberal Democrat, tweeting simply, "Fully agree." (Prompting an outburst from Occasio-Cortez, in which she said she would work with other Republicans but not with Cruz, who allegedly, "almost had me murdered three weeks ago." During the Capitol Hill riot.) Whatever.

Republican Congressman Madison Cawthorn was also blunt, tweeting:

"Part of Free Market Capitalism is having a Free Market. Wall Street is pressed because normal, working Americans outplayed them."

Regardless of party differences, this rare demonstration of bipartisanship seems to indicate they will at least be some hearings in the app's future.

For its part, Robinhood tried to stop the bleeding, posting a policy U-turn Thursday afternoon (4:15 pm ET) posting on Twitter and on the app that they would restore the ability to both buy and sell these hot stocks. Vlad Tenev, the Bulgarian entrepreneur who co-founded Robin Hood, tweeting:

"Starting tomorrow, we plan to allow limited buys of these securities. We’ll continue to monitor the situation and make adjustments as needed."

But things continued to spiral out of control for Robinhood. On Thursday, a class action lawsuit was filed in federal court (the Southern District Court of New York) against Robinhood on behalf of its clients, legitimately claiming loss a millions of dollars due to the inability to buy these stocks as they rose drastically on Wednesday morning, and while hedge funds were not similarly restricted.

Late Friday, Robinhood kept digging a hole for itself, releasing a list of 50 stocks for which they were restricting buys. This prompted the investment site  Seeking Alpha to predict the new restrictions "could lead to big exodus" from the app.

As Inc. columnist Jason Aten wrote: "It takes a long time to build a brand, but not long at all to destroy it. In Robinhood's case, it took less than a day."

PR SOLUTIONS:

So, how does Robinhood regain its reputation as a fighter for the little guy investor? Or can it?

I believe it can, but it must demonstrate in the coming months that it did not respond to pressure from Wall Street, or even the White House which many speculated had occurred.

It has already begun the work it must do, including dispelling rumors that it acted to stop trading on behalf of a hedge fund, Citadel - something which would likely mean the death of the app, if true.

Tenev tweeted,

"As a brokerage firm, Robinhood has many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment. 

To be clear, this decision was not made on the direction of any market maker we route to or other market participants."

(The California-based Sequoia hedge fund sought to squash such rumors late Thursday afternoon, tweeting, "Sequoia did not pressure Robinhood to halt the trading of any stocks. This rumor is completely false.")

Over the next few weeks and months, Robinhood needs to act decisively and speak out clearly to restore confidence and trust in its product, and, frankly, the system it works with. Speaking for an entire market is definitely a tall order, and usually not one public relations would need to take on.

But given the tremendous lack of trust that has accrued in such a short period of time (just a few days!) It's one the app must take on.

Hopefully they have a PR team that is instructing the Robinhood application's board that it cannot hide behind technicalities or even the SEC, and preparing them for the Congressional grilling that surely awaits them.

The Robinhood app must take strong, clear actions, and their PR team must then explain those actions in a confident way to investors and customers alike. 

Then, maybe six months from now, the Robinhood app just might still exist.

Creepy #PR Job Ad Seeking "Youthful" Female To Be The "Face" Of A Company Is All That's Wrong With PR [Abbott Media Group]

A recent job posting illustrates EVERYTHING that's wrong with PR today, or at least the growing perception of PR as a damaged profession with a reputation problem.

The ad, on the popular job search site "Glassdoor," read:

"We are looking for a youthful, energetic, personable, presentable, female for an overseas Public Relations position," it began, "The candidate will be the face of our Asia operation. Please send details and photo if possible."

It's signed - rare for an ad even on Glassdoor - by the male president of this company, which I've blacked out to avoid holding him up to public ridicule. Both his first and last name were included in the original ad.

This is wrong on so many levels. Aside from being an illegal job ad (gender-specific, which is forbidden by employment law) it's a bit creepy for a male president/CEO to be asking for a photograph - akin to a dirty personal ad in the back of a magazine or on the old "Backpage" or Craigslist personals, it sends a horrible message about the profession. One plausibly may wonder if he hopes to travel with her.

The ad's descriptions are equally troubling.

"Youthful, energetic" is "code" for "no one over 30 need apply. Age discrimination sucks, but it's a reality in the business world. And tolerated.

"Personable," well, of course a PR person will be personable - someone who is likable and generally likes people. Though that's a child's definition of "public relations," and every store clerk or auto show platform model can't be said to be in "public relations," just because they interact with the public - though that's a vital component for business success, for sure.

The final two descriptors, "presentable, female," are at the heart of the problem with this ad. "Presentable" seems to be a code word for "pretty." Now, there's nothing wrong with being pretty, or presentable, so long as the latter means how a person presents oneself, in dress, demeanor, and especially verbally and in writing. If THOSE were the criterion used by the CEO here, that would ELEVATE the profession, not demean it or raise ludicrous stereotypes as this ad does.

Let's also mention that the ad apparently breaks the terms of service Glassdoor has published on its own site, which state, "You may not post any job ad that ... gender, race, religion, sexual orientation, age, disability, or any other ground(s) prohibited by applicable law."

CEOs of corporations should never use the tactic of pushing a "pretty face" in front of a news conference, so stakeholders and the general public will more easily forget the bad news about a company or CEO. That plays to the basest of negative stereotypes about PR.

This amounts to putting supermodels on catwalks wearing corporate logos. Corporations should be educated by real PR pros that this won't motivate any but the creepiest of men to patronize their businesses and buy their products and services. And it won't be enough to distract the media from a company's missteps.

A bit of a disclaimer. A search for the company on Google on July 7, 2018 at 8 pm (Central) produced no results. A Linkedin profile mentioning his name and company produced a blank page. It's unclear whether the ad, posted on July 7, 2018, is for a legitimate operation. If so, shame on the company's president. If not, shame on Glassdoor for facilitating this gross person's fantasy.

----------------
Stephen Abbott is the principal of Abbott Media Group. He's not "pretty" nor "young." He's a male over 50, and has over two decades of actual experience building brands and reputations. Abbott Media Group can be found online at www.abbottmediagroup.com.

5 Characteristics of #Reputation [Abbott Media Group]

Like any tool, a reputation constantly needs sharpening to be effective. But it can be double-edged instrument that can cut you and severely damage you, if you're not careful, or mishandle it.

Reputation can be a hard concept to wrap one’s head around. So, bolstered by wise words of wisdom, here are five characteristics of reputation of which businesses and individuals need to be cognizant when seeking to change or improve their reputations.

1. A Reputation can’t be built on false promises - "The way to gain a good reputation is to endeavor to be what you desire to appear," said the Greek philosopher Socrates. Your advertising materials won't fool anyone if your promises aren't being kept. If our luggage is lost, we will not believe the ad calling the airline "competent." In the same way, your company’s reality-on-the-ground must match the rhetoric your Reputation Agency is putting out about you, in order for your believability to remain intact.

2. Reputation must reflect what you’re doing NOW - Automobile manufacturer Henry Ford said, ‘You can’t build a reputation on what you're going to do.” It’s all well and good that you PLAN to do something great. But if you’re not doing it yet, or (worse) if you don’t follow through, it will hurt you more than if you hadn't promised to do it at all. In short, your reputation is a result of what you've done in the past.

3. A reputation pays off in the long run - “A reputation for good judgment, for fair dealing, for truth, and for rectitude is itself a fortune,” said social reformer Henry Ward Beecher. There’s not really a way to weigh the value of a good reputation, or that of a good one that’s been lost. Your customers, if they’re happy, reach out to dozens of people about your products and services, but also about your attitude and helpfulness, and that of your employees. A reputation pays off in many innumerable ways, most of which you will never know.

4. A reputation can’t be a con job - Author and artist Elbert Hubbard wrote, “Many a man’s reputation would not know his character if they met on the street.” A reputation must be true and reflective of the subject it purports to represent. No one can "create" a glowing reputation for someone who's character is genuinely bad. Again, today’s consumers simply are too smart for such a cynical exercise in deception, and frankly, AMG (along with every other ethical PR professional) will not participate in such a deception. As in other examples here, the perception must match the reality. A con job will simply further tarnish a damaged reputation, and it’s simply not worth it. Issues involving the character and practices of your company must be addressed BEFORE “re-launching” yourself and your name to the public.

5. Your reputation can be ruined by others - George Washington said, "Associate with men of good quality, if you esteem your own reputation; for it is better to be alone than in bad company." If you’re associated in the mind of the public with a rouge company or an unscrupulous person - even if it’s not YOUR company or employee - your reputation could be hurt by it in the eyes of the public. That may not be fair, but it’s reality. People sometimes don’t distinguish between you and a bad act committed by someone close to you. As Washington said, in that case, it’s better to be seen alone and apart from them, and AMG can help you distance yourself from trouble with a clear reputation management plan.

Contact Abbott Media Group if you need help creating compelling messages that build your reputation!

By Stephen Abbott, Principal, Abbott Media Group, which creates inspiring, engaging messages that build reputations. On twitter and Facebook.

How Your Good #Reputation "Adds Up" To Business Success #AbbottMediaGroup

By Stephen Abbott, principal of Abbott Media Group

Public Relations remains a mysterious and nebulous concept for many, though it's actually not a mystery at all. It's an art and a science, applied to business and personal situations to address and solve problems that, if they're left to fester, can have a deleterious effect on one's reputation. That, in turn, can lead to reduced respect, reduced influence in one’s profession and, perhaps most crucially, reduced sales of one's products and/or services.

I've used the acronym "Add Up" to illustrate the process AMG uses on clients' behalf.

Analyze the situation. Jumping in without even rudimentary analysis of the situation is like jumping into a lake one has never seen before – foolish, and possibly dangerous. A situation analysis in PR usually includes discussions with all of the relevant publics involved. A "public" can be management, owners, employees, customers and other stakeholders involved in some way with an organization, company or community. This helps the PR professional learn all the facts on the ground that could be leading to problems that may be contributing to a decline in reputation.

Determine problems. Being able to name a problem is a first step towards solving it. This is true in one's personal life and of course it's true in business as well. Once the situation is fully analyzed, PR professionals can then research the problems as they truly exist and begin to understand what PR tools and tactics will need to be addressed, which is the next step ...

Diagnose the situation. Doctors use their analysis of a patient's health to determine a diagnosis. In the same way, PR professionals can use the analysis and problems that arose in the early stages of the process to come up with a diagnosis, allowing them to move forward to the next stages.

Understand publics. Without an understanding of the publics who will be affected by the messages to be used to address problems and issues, we can't be as effective as we otherwise would. Some PR practitioners don't get this, and end up "shouting from the rooftops" to get their message out, thus possibly squandering all the previous effort in researching and diagnosing problems. Instead, a clear, targeted message is planned and prepared to go out to clearly identified targets. This is absolutely essential for the success of any PR campaign.

Present the campaign to the relevant publics. All of the research, analysis and planning leads up to a campaign that is presented to predetermined target groups, i.e., those who will most benefit from and be positively influenced by messages that will enhance the client’s reputation and standing in the community, their ability to continue to grow or expand, or other goals that can be measured over time.

This final "implementation phase" utilizes tools and tactics of the PR professional that best meet the needs of the campaign at hand. This expertise, along with the ability to comprehend and work through the previous steps, is why it's best to hire a PR professional to enhance, change and manage your reputation.

Public Relations, and the enhancement of reputation it can bring, "Adds Up" to the continued success of your business, organization or personal fulfillment. 

In sum, the accomplishment of your business goals is in a very real way connected to maintaining good relations with those whom your business interacts with daily, as well as creating inroads with those who will become clients and customers in the future.

Contact Abbott Media Group to learn more about how your reputation can benefit from Public Relations in 2018.

Fair Dealing And #PublicRelations [Abbott Media Group]

Reputations in business, as in life, are built on fair dealing: by treating customers and employees well, by paying employees what they have earned and on time, and by giving customers friendly attention and fair value for what they purchase.

Without this culture of fair dealing, employees grumble, are dissatisfied on the job, and are disloyal, and customers simply leave and never return, making sure everyone knows why they have taken their business elsewhere.

But when a culture of fair dealing is fully embraced, employees are enthusiastic and do all they can to make the company successful, and customers reward it with loyalty and positive recommendations to their neighbors and friends.

Fair dealing cannot be faked. And it is not the job of public relations to pretend a company that is not dealing fairly actually is doing so. Public Relations can never allow itself to be used to paint a false picture of fair dealing where none exists. Employees and customers alike will see through any such attempt at whitewashing. Lying always makes things worse, in the end.

But when a company that has damaged its reputation by not dealing fairly begins to deal fairly in all aspects of its corporate life, it's a pleasure for public relations consultants to tell all who will listen about this more positive attitude towards doing business.

- Stephen Abbott
www.AbbottMediaGroup.com

5 Characteristics of Reputation [Abbott Media Group]

Like any tool, a reputation constantly needs sharpening to be effective. But it can be double-edged instrument that can cut you and severely damage you, if you're not careful, or mishandle it.

Reputation can be a hard concept to wrap one’s head around. So, bolstered by wise words of wisdom, here are five characteristics of reputation of which businesses and individuals need to be cognizant when seeking to change or improve their reputations.

1. A Reputation can’t be built on false promises - "The way to gain a good reputation is to endeavor to be what you desire to appear," said the Greek philosopher Socrates. Your advertising materials won't fool anyone if your promises aren't being kept. If our luggage is lost, we will not believe the ad calling the airline "competent." In the same way, your company’s reality-on-the-ground must match the rhetoric your Reputation Agency is putting out about you, in order for your believability to remain intact.

2. Reputation must reflect what you’re doing NOW - Automobile manufacturer Henry Ford said, ‘You can’t build a reputation on what you're going to do.” It’s all well and good that you PLAN to do something great. But if you’re not doing it yet, or (worse) if you don’t follow through, it will hurt you more than if you hadn't promised to do it at all. In short, your reputation is a result of what you've done in the past.

3. A reputation pays off in the long run - “A reputation for good judgment, for fair dealing, for truth, and for rectitude is itself a fortune,” said social reformer Henry Ward Beecher. There’s not really a way to weigh the value of a good reputation, or that of a good one that’s been lost. Your customers, if they’re happy, reach out to dozens of people about your products and services, but also about your attitude and helpfulness, and that of your employees. A reputation pays off in many innumerable ways, most of which you will never know.

4. A reputation can’t be a con job - Author and artist Elbert Hubbard wrote, “Many a man’s reputation would not know his character if they met on the street.” A reputation must be true and reflective of the subject it purports to represent. No one can "create" a glowing reputation for someone who's character is genuinely bad. Again, today’s consumers simply are too smart for such a cynical exercise in deception, and frankly, AMG (along with every other ethical PR professional) will not participate in such a deception. As in other examples here, the perception must match the reality. A con job will simply further tarnish a damaged reputation, and it’s simply not worth it. Issues involving the character and practices of your company must be addressed BEFORE “re-launching” yourself and your name to the public.

5. Your reputation can be ruined by others - George Washington said, "Associate with men of good quality, if you esteem your own reputation; for it is better to be alone than in bad company." If you’re associated in the mind of the public with a rouge company or an unscrupulous person - even if it’s not YOUR company or employee - your reputation could be hurt by it in the eyes of the public. That may not be fair, but it’s reality. People sometimes don’t distinguish between you and a bad act committed by someone close to you. As Washington said, in that case, it’s better to be seen alone and apart from them, and AMG can help you distance yourself from trouble with a clear reputation management plan.

Contact Abbott Media Group if we can help create compelling messages that build your reputation!

By Stephen Abbott, Principal Abbott Media Group, which creates inspiring, engaging messages that build reputations. On twitter and Facebook.

"Earned Media" And Why You Should Seek It [Abbott Media Group]

I was discussing earned media with a local business owner today and thought I'd share what I shared with him.

Businesses tend to know about paid advertising. They buy an ad, people see it, and then they come and do business with them. But that is a greatly simplified explanation, and doesn't tell the full story about what advertising is, what it can do, what it often CANNOT do, and what can help supplement its shortcomings.

Ads are paid for, by their very nature. Even if those who see them don't consciously think it, they know it's been paid for, and that the buyer (you) has an agenda: that you want them to see it and feel good about your business or the product being advertised.

Unsurprisingly, this tends to undercut the message you're trying to convey. Sure, your product might be good, but the fact that you paid to tell them this fact actually decreases its effectiveness.

Earned media can help solve this problem. Exposure for your brand, business or products can be "earned" from newspapers, magazines and online media sources without the costs associated with paying for an ad.

This is usually accomplished through news releases - documents prepared by public relations professionals who understand how to write about news-worthy items that will attract the attention of the media, and be placed where readers see them usually without changes. Sometimes, the news release sparks the interest of  reporters to do a more in-depth story about your business, product or cause.

And while paid media - advertising - is blatantly paid for, earned media carries with it the credibility of being freely chosen by the owner of the media source. Again, almost subconsciously, the fact that the paper or magazine is doing a "news story" on your product or business is seen as far more credible than if you had paid for it.

THE BOTTOM LINE:
Paid media makes sense when you want 100% control of your message - and a PR pro can make sure that your advertising is consistent with all your other messages. But seeking earned media makes sense when you have something new, unique, and interesting that sets you apart from competitors or other similar businesses, and want greater credibility by getting news coverage to promote them.

Contact Abbott Media Group if we can help create compelling messages!

By Stephen Abbott, Principal of Abbott Public Relations, a division of Abbott Media Group, which creates written messages which inspire, inform, educate and engage, in mass media, publishing and public relations. On twitter and Facebook.