representing naifa sheila owens vice president, communications and marketing [email protected]...
TRANSCRIPT
Representing NAIFA
Sheila OwensVice President, Communications and Marketing
Representing NAIFA
703-770-8112 (O)
703-717-8119 (M)
PR 2.0
Today’s topics:• Reaching your audience in a fragmented media
market• The PR challenges and opportunities of social
media
The Media Landscape:Back Then
• 1960s-1980s: 70-80% of adults read a newspaper*
• 1960s there were more than 1,760 daily papers
• 1,400 were evening papers; 300 were morning papers
*Scarborough Research
Newspapers were dominant source for news
The Media Landscape:Back Then
• Television was the ‘new media’• By the 1980s, television news ruled as primary
source of news for consumers• 55 million Americans were loyal nightly viewers
Back then:Primary tools for PR pros
• Press releases were faxed• Newsletters were mailed• PR practitioners placed stories in newspapers,
magazines, TV & Radio (earned media)• Companies placed advertisements (paid media)• Little if any ‘niche’ media to reach out to targeted
audiences
Back then: One-waycommunications
Paid Media: Advertising
Earned Media: Story placements
Media Landscape Now:Broadcast, Print Audiences Declining
Average Rating (A35+)
% Readership Among Adults
Average ratings for local evening newscasts in the top ten U.S. media markets
Average readership for local newspapers in the top ten U.S. media markets
54.5 53.952.5
51.450.1
48.747.2
45.3
38% in 2010?17% readership loss 2001 – 2008
10.6% in 2009
40.5
19.217.5 16.3
15.7 14.0
11.2 9.9
21.318.7
18.817.9
17.4
13.112.1
Early evening news: -48%
Late evening news: -43%
The Media landscape: Now
• 24/7 news cycle• Nearly 80% of adult population uses the Internet• Multiple emerging media resources – not just
mainstream news sources (niche media, blogs, Web sites, YouTube, Google, Yahoo)
• Consumer access to content anytime, anywhere
The Bad News
The Media Landscape is Cluttered!
The Bad News
• Multiple media choices compete for consumers’ attention = a fragmented audience
• Greater challenges to get your message across to fragmented audience
• How do you know where to go to get your message across?
The Good News
• With more sources, greater opportunities to get your message across
• Digital services allow for targeted content creation with little or no technical knowledge
• Consumers are creating engaging, relevant content that you can find, interact with
• Opportunities to repurpose your own content for multiple media platforms – meet your audience in their space
The Good News: Everyone’s Talking
• Communications is full circle: 360 Communications
“Socialized media is empowering us not only to consume content but also to create it. This is the era of new influencers
and we become media and earn authority based on the content we share and also how and where we participate.”
– Brian Solis, The Conversation Prism
PR 2.0: Enter Socialized Media
Is Social Media a Fad?
What is Social Media?
• Social media are online communications in which individuals shift fluidly and flexibly between the role of audience and author. To do this, they use social software that enables anyone to post, comment or share to form communities around shared interests.
Why Social Media?
• Social media are here to stay. Through these communications channels, your colleagues, public officials, opinion leaders, news media and others are behaving differently – meeting in virtual communities, sharing content and spreading voice and influence online.
Why ShouldYou Interact?
• The Internet is a breeding ground for lively discussions that can catapult one company (or a company’s policy or issue) over another. Participation in virtual communities will help position your company and experts as thought leaders in their field while crafting messages in a way that influences their online audience in a positive manner.
Twitter Launched in 2006
FacebookLaunched in 2004
Unique Visitors
(Millions)
Unique Visitors
(Millions)
Trailing 24 months
Trailing 24 months
Trailing 24 months
Trailing 24 months
Linked InLaunched in 2003
YouTube Launched in 2005
+78%
+55.4% +31.1%
+92.9%
Social Media Sites Are Growing At A Rapid Rate
Unique Visitors
(Millions)
Unique Visitors
(Millions)
The Social MediaLandscape
• Facebook has more than 300 million users• LinkedIn passed 50 million global users• YouTube streamed more than 10 billion online
videos in just one month
Technological Change Requires Rapid Adaptation
100
80
60
40
20
0
Telephone
(1876)
Television(1928)
Cell Phone(1983)
iPod(2001)
Facebook(2004)
Years
to R
each
15
0M
U
sers
Acceleration of Communications Change
Why Join the Conversation?
• You need to know who is talking, who is listening• What are they saying?• What are you saying in response?• How are you controlling the message?
Join the Conversation
• Monitor blogs, post responses• Follow them on Twitter, tweet yourself• Read their Facebook pages, engage
NAIFA: Getting Our Feet Wet
NAIFA: Getting Our Feet Wet
NAIFA Social Media Tools
NAIFASocial Media Tools
• NAIFA Facebook has nearly 800 fans• 28% more likely than non-fans to continue using a
brand • 41% more likely than non-fans to recommend a
fanned product to their friends
NAIFA Social Media Tools
You’ve got the Tools:Now what?
• Define your Social Media Strategy– Why are you in social media?– With whom do you want to engage? – How will you measure success?
NAIFASocial Media Strategy
NAIFA Goals & Objectives for Social Media• To build Community. • To promote NAIFA positions, products and people• To reach, respond to news media• To tell the “agent story” • To drive traffic to NAIFA Web site.
Measure progress through qualitative responses
Examples of howNAIFA uses Social Media
• To correct misperceptions• To interact in a less formal way• To build community• To empower your community to speak for you• To reach the news media
How does NAIFA use Social Media?
To correct misperceptions• NAIFAblog.com tells the agent’s story – • Example: Trade story focuses on just a few
members who support fiduciary duty• Story ignored the 70% of comments on SEC site
that opposed fiduciary duty standard of care• NAIFA wrote blog to include the facts; sent to
reporters and other bloggers to get our message out
How does NAIFA use Social Media?
To respond informally• News story conveys negative perceptions of
industry (not necessarily inaccurate)• Story does not warrant a formal statement from
organization• NAIFA writes response that takes issue with the
story, clarifies and tells the agent’s side• Post response on blog, Facebook and tweet
response
How does NAIFA use Social Media?
To Build Community• Show LinkedIn page – member posting comment
How does NAIFA use Social Media?
To empower community to speak for you– Engage in conversations with other bloggers that
support your positions and policies– Provides powerful third-party support– Link to their blogs, pass them around
How does NAIFA use Social Media?
To reach out to the news media– Follow reporters on Twitter– Ask reporters to follow you on Twitter– Look for reporters’ questions, requests for interviews on
Twitter– Tweet, re-tweet reporters’ stories that support your
positions– Post links to your press releases on Twitter, Facebook– Respond to reporters
How to Begin?
• Once you build your pages, tell people where to find you– Promote with press release about your new sites– Include links to your sites in your e-mail signatures– Post icons/links from your own Web site– Interact, interact, interact
Three thingsI’ve learned
• People are talking about our products – Listen!• Allow your site to have a personality• Once you’re in, you’re in• Be authentic• Don’t spam
Social Media & Financial Professionals
• 44% of advisors use social media for business• 75% have an account on Facebook or LinkedIn• Top three uses: prospects, monitoring
industry/market news, reading expert commentary• 40% optimistic social media will help grow their
business• 47% concerned with compliance issues
*American Century Investments survey
Social Media & Financial Professionals
• Advice for Advisors: Make sure your posts are done within the requirements of your corporate and regulatory guidelines.
FINRA Regulatory Notice 10-06 “Guidance on Blogs and Social Networking Web Sites”
Americans are increasingly using social media Web sites, such as blogs and social networking sites, for business and personal communications. Firms have asked FINRA staff how the FINRA rules governing communications with the public apply to social media sites that are sponsored by a firm or its registered representatives. This Notice provides guidance to firms regarding these issues.
Social Media& Financial Professionals
There are companies that specialize in helping regulated firms with compliant social media policies and practices.
Socialware – www.socialware.com
Arkovi – www.arkovi.com
Social Media: It’s not all that
• Social media is part of an overall communications strategy; it’s not a standalone tool
• PR 1.0 should be incorporated
While there’s no question social media is here to stay, so is the value of face-to-face
communications
Media Convergence
• The lines of journalism are blurring • Columnists and bloggers are now local news
sources and not just opinion providers• News reporteres are now opinion providers• Fewer subject matter experts in the newsroom• Citizen journalists: Anyone who can blog or text
can publish a story
How to help the reporter
• Appreciate the role and need of the journalist – they are under increasing demands to file and file immediately
• Provide information in multiple media platforms for their Web site, blog, YouTube video, podcast
• Understand their audience• Reach out to new reporters on the beat; provide
industry briefings, fact sheets
Tell Your Story: What’s your story?
• New products, trends, data• Industry expertise on timely issues• Local legislative developments affecting the
industry – tell what it means to businesses consumers in your community
PR 2.0: Bottom Line
• In spite of the multitude of channels and technologies available, it’s still critical to develop personal relationships with reporters to enhance your industry and products. At the same time, we need to understand the non-traditional journalists – they can be as influential as the evening news once was.
Thank You!
Sheila Owens
Vice President, Communications & Marketing
NAIFA
703.770-8112 (o)
703.717.8119 (m)