So you hired a PR firm. And on the eve of your first big announcement, your new rep lays out a plan for a press release. This press release will go everywhere, the rep says, to thousands of outlets, with a potential audience of nearly 100 million people. He gives you a lot of other numbers as well. You don’t quite understand them, but then you’re not a PR person, and 100 million people is a lot of people. Sounds great, you say. And out it goes.
You’ve just participated in the press release industrial complex, a system in which the only guaranteed outcome is that public relations agencies, newswires, distribution services, content aggregators and media companies all make money. One company that distributes press releases, Comtex, says it processes up to 80,000 of them a day. Kevin Akeroyd, the CEO of another such firm, Cision, says, “The overall volume of press releases both in the U.S. and globally, as well as price per press release, is at an all-time high.”
But, what about you, the entrepreneur paying for all this? The value you receive is less certain. To understand why, first you need to understand how this system works. Which means following the money.
Everything starts with the PR firm, which will charge an entrepreneur hundreds, even thousands, of dollars to write a press release. Then the firm will use some of that money to distribute the news through a variety of “press release newswires.”
Related: 4 Ways to Get Publicity on a Budget
Pricing varies, but one such firm, PR Newswire (which is owned by Cision), has a program that charges customers $795 for the first 400 words of a release and then $205 for each additional 100 words. Once a press release is posted to a newswire, it gets distributed to top-tier outlets such as the Wall Street Journal, Yahoo Finance, CNBC and MarketWatch. But, that doesn’t mean it arrives as editorial coverage, where it’ll be promoted through, say, Yahoo Finance’s social media accounts. Rather, it will most likely be posted to an automated section dedicated to press releases. The areas are clearly labeled; MarketWatch, for example, has “Press Release” written at the top and “The MarketWatch News Department was not involved in the creation of the content” at the bottom. (There are also middlemen at work that, frankly, are too complicated to get into here. But, they make money, too.)
These press release sections — some of which newswires pay to post on — don’t get many readers. They serve mainly as a way to drive incremental ad revenue for the publishers. Nevertheless, there are enough of them that the newswires can produce impressive-sounding audience numbers — often by tallying individual websites’ total monthly users, rather than the actual number of people who viewed the press release. Clients who use PR Newswire, for instance, may get a 32-page report full of charts, numbers, brand-name journalistic outlets and feedback like “Your release has generated 245 exact matches with a total potential audience of 90,730,143” — which is an exact quote from a report one publicist showed us.
Little of this, of course, creates actual news. Instead, it creates “the optics of news,” says Jon Bier, founder of Jack Taylor PR. “I don’t think the people picking up press releases are journalists wanting to write about that product. They’re websites designed to pick up press releases so PR folks have websites to show they picked them up. It’s an industry speaking to itself.”
“It’s become borderline useless,” says Ed Zitron, CEO of EZPR, a San Francisco-based media relations firm.
Take the following press release, which ran on one of the press release newswires, BusinessWire, and was picked up by MarketWatch: “State Street Global Advisors Strengthens U.S. Intermediary Sales Team.” The release ran on Yahoo Finance, NASDAQ.com, The Street and 21 other media outlets — mostly random local radio and TV news station websites (like KEYC in Minnesota and NewsChannel 10 in Amarillo, Tex.) that have nothing to do with banking, or Boston, where State Street is located.
Jason Kintzler, CEO of Pitchengine, a company that builds tools to help PR folks better connect to audiences, believes many PR agencies are fleecing clients by leading them down this path. If you’re blasting out a press release to everyone, he says, it’s exclusive to no one, and the likelihood of a reporter being interested in a story — typically the main objective of a press release — drops. Real coverage is then replaced by a bunch of metrics many people don’t understand. “Part of it is that — as an industry — we’re lazy,” Kintzler says. “Many people are just going through the motions: I do it. The clients are happy — it says it went to a billion people.“
Press releases do have their defenders. Some PR folks argue that releases provide trustworthy information for reporters. The theory: Reporters can most likely trust a press release from Procter & Gamble because the information should have been vetted through legal and compliance teams. And press releases can serve a purpose — legal requirements for public companies, distributing important information in one fell swoop or increasing the odds that a company’s official statement will appear in web search results. “Press releases are still useful communication tools that media and analysts and financial reporters reference,” says Jacqueline Chen Valencia, partner at the marketing and communications firm Connective Agency.
They can now also be directed to the right audiences, says Akeroyd, CEO of Cision. He says press release distributors are now “SaaS-ifying” — modernizing to work more like targeted advertising. Instead of blasting a release out into the void, he says, companies can now use data to theoretically reach better audiences, and PR agencies can now track the efficacy of a press release, measuring not just the reach but the actual revenues driven by the press release.
For example, let’s say I’m a CEO. My ad folks come in and say they bought a trillion impressions. From those trillion impressions, we got a billion clicks. Those billion clicks turned into a million website visits, which turned into 100,000 sales. On the other hand, my PR people come in and say we got “covered” in Yahoo Finance and 400 other places. They talk about coverage and share of voice, not actual sales. It’s vapor. But, with better data and measurements for press releases, Akeroyd argues, the PR people can better measure how their press releases supported broader business objectives.
So where does that leave you? Simple. If you feel you’d benefit from hiring a PR firm, ask a lot of questions. What model will it follow for press release distribution? Is there a strategy? Can it be attached to hard revenues? Can it demonstrate fruitful relationships with actual human journalists in your actual field who have written actual news stories about other clients? If not, keep looking.
“Our job is not to throw information against the wall,” says Bier from Jack Taylor PR. “It’s to tell a story to the right person at the right place at the right time. Spamming on the wires can’t do that.”
Steve Jobs Shares the Secrets to Successful Team Leadership in This Throwback Video
Though Apple co-founder Steve Jobs died six years ago, his outsized influence is certainly still felt. A recently surfaced video interview with the late CEO — which based on his haircut seems to place him in the mid-1980s — shows him sharing his views about best practices for hiring and what makes a great manager.
Up front, he says that the greatest employees are the ones who have the ability to manage themselves. But they can only do that if the leadership at the top is clear about what they want. “What leadership [is] having a vision, being able to articulate that so the people around you can understand it and getting a consensus on a common vision,” Jobs says.
Jobs goes on to explain that one of the most important jobs of someone in his position is recruiting new employees. He notes that he isn’t necessarily looking for someone who is an industry veteran, but rather someone who understands where technology is and where it could go in the future. He also recalls a moment when as the company was growing, that he and others executives thought they needed “professional managers,” but that ultimately turned out to not be the case.
“We went out and hired a bunch of professional management [and] it didn’t work at all. Most of them were bozos,” Jobs says with his characteristic brutal candor. “They knew how to manage, but they didn’t know how to do anything. If you’re a great person, why do you want to work for somebody that you can’t learn anything from?”
Ultimately, he notes that the best team leaders are the ones that aren’t angling for power for power’s sake. “They are the great individual contributors who never, ever want to be a manager,” Jobs says. “But decide they have to be a manager because no one else is going to be able to do as good a job as them.”
Do you agree with Jobs’s assessment? Let us know in the comments and check out the full video below.
How to Keep Introverted Employees From Quietly Leaving Your Company — in Droves
The Myers-Briggs Type Indicator (MBTI) has been around for decades. Employers use it to uncover job candidates’ personality strengths and place them in the right role. MBTI results also help identify natural leaders and great communicators.
Yet, there’s little talk about how people’s results impact their satisfaction once they’re in a job. When leaders ignore employees’ happiness, it’s hard to keep productive talent around.
Interestingly, the Sunnyvale, Calif.-based publisher of the Myers-Brigg Type Indicator, CCP, Inc., conducted new research that dove into how personality impacts workplace well-being. It looked at five aspects of well-being: positive emotions, engagement, relationships, meaning and accomplishments.
After surveying 3,113 participants, the company, in a September report, revealed that introverts have lower well-being in all of these areas. This isn’t all that surprising: An introvert is less likely to speak up about what’s negatively impacting him or her.
It is shocking, however, that employers aren’t being more proactive. If leaders don’t find a way to improve the workplace happiness of introverts, those people will leave and take all their unique skills with them.
Want to avoid that happening to you? Here are some ideas to help connect with the introverts in your office and better understand their wellness-related needs in the workplace:
Be a chameleon.
Many leaders make the mistake of managing everyone the same way and assuming the results will equate across the board. But there’s a huge flaw in that logic: Every person, in fact, perceives and processes guidance differently. Some need more help in certain situations; some need less. So, it’s up to leaders to customize their approach.
Leaders ignoring the needs of their introverts can hurt their overall workplace well-being. The reason: Introverted employees will feel less engaged and have a harder time reaching their goals. This may then lead to feelings of isolation and disappointment, negatively impacting these workers’ mental health.
When managers recognize introverts’ differences, on the other hand, they can help those employees succeed, and feel more accomplished. For example, as New York-based co-founder of the digital agency Ready Set Rocket, Aaron Harvey, pointed out, introverts have trouble speaking in front of people. “If someone struggles in brainstorming sessions, simply stop by their desk in advance and ask them to be prepared with a few ideas around a specific topic,” Harvey advised in an email. “This can help them feel confident, joining a conversation that organically leads to real-time ideation.”
Consider other situations when introverts might feel that they are out of their element. For instance, consider ways in which shy employees might meet new people.
Talking with new clients, after all, probably makes them nervous. So, reduce their stress by having an extrovert they’re comfortable with tag along. Having a familiar face present will help get them through the situation.
Scrimmage employees’ skill sets.
Extroverts’ strengths are obvious. They’re good communicators, enjoy building relationships and freely share their ideas — all skills that contribute to their well-being. These traits make it easier for them to create a support system at work and to speak up about what skills they have to offer.
Introverts’ skills are more hidden, so leaders don’t always see what they bring to the table. Since introverts are less likely to communicate what responsibilities they’d like to take on, they’re left feeling unfulfilled.
Skills-assessment tools, like the MBTI, are a great solution. They reveal natural strengths and help managers assign introverts more meaningful work.
After realizing your introverts’ skills, give them more opportunities to use them. Assign tasks and projects that allow them to maximize their strengths. Fully and effectively contributing to the team will improve their feelings of meaning and accomplishment.
Arlington, Va.-based Greg Wester, senior vice president of marketing and business development at the mobile content discovery platform Mobile Posse, likes to mix it up with his employees. To help everyone on the team develop his or her skills, Wester told me, the company poses team challenges that mix introverts and extroverts.
“We’ve found that people are super competitive about winning,” he said by email. “The different types of exercises give people a variety of ways to participate, get involved and hopefully boost their well-being.”
Currently, Mobile Posses’ employees are working as teams to create themed videos. Each team has eight cross-functional, cross-personality employees. They’re all challenged to use their individual skills to create a video representing their perspective on a company core value or vision.
This approach to skill-building, Wester said, helps introverts connect with the entire team and gives them more confidence about their value in the organization.
Keep kindred spirits together.
While it’s good to have both types of personalities working together, introverts may become stressed if they’re paired only with extroverts.
For instance, imagine walking into a room where everyone is talking loudly and the words don’t make sense. The situation is overwhelming. This is how introverts feel when they’re surrounded by extroverts. It’s as though no one is speaking their language, and they feel isolated as a result.
What’s more, iIntroverts and extroverts communicate differently. To maintain well-being, introverts need to find like-minded people they can connect with and recharge their energy with.
Rick Gibbs, a performance specialist at the Kingwood, Tex.-based HR services company Insperity, pointed out that following personality assessments, introverts can find people who are like them and make healthy connections. “The process itself can help improve communication, build teams, and expand office friendships,” Gibbs said in an email. “More introverted employees will be able to identify others with similar communications styles.”
So think about conducting personality testing at your workplace. Then, hold a meeting where everyone can discuss his or her results. This will show introverts that they are not alone. They’ll be able to communicate better and deepen their relationships — and with them their personal well-being — at work.
Hard Work? It's Not All It's Cracked up to Be. It May Even Be Irrelevant. Here's Why.
From a young age, we’re raised to believe that we can accomplish pretty much anything so long as we work hard enough to achieve it. And, for the most part, that makes sense, at least intuitively. If you study for three hours while your roommate studies for one, you’ll probably do better on the test. If you spend 50 hours at work every week while your peer spends 30, you’ll stand a better chance of getting a raise or a promotion.
This idea follows us at every stage of our lives, and it echoes a cornerstone belief of Western culture: As long as you work hard, you’re going to be successful. But there’s a problem with this philosophy: Hard work isn’t always enough.
The Netflix approach
This idea is hard to accept at first, if you’re a hard worker who invests major time and effort to get what you want in life. Perhaps then, it’s best to introduce the alternative notion, using a corporate example.
Netflix (yes, the company responsible for those late-night television binges) has found success in part because it abolished the idea of hard work being the sole determining factor in an employee’s progression within the company.
Netflix formally introduced this idea in a 2009 slide deck explaining the company’s culture, but the idea dates back to 2001. Since her departure from Netflix, the company’s former chief talent officer, Patty McCord, has been on podcasts and spoken in interviews about the rather different work ethic Neflix evolved.
After experiencing financial trouble in 2001, the company made a bold move to lay off a third of its employees — not based on how long they’d worked there or how hard they’d worked, but solely on what they contribute, and how they impact the company’s bottom line. This infuriated some long-time, hard-working employees, but those who remained ended up getting more done because they didn’t have to correct others’ mistakes, or work around unnecessary teammates.
Even after that initial layoff, Netflix paid almost no attention to employees’ hard work. It allowed unlimited vacation time and flexible hours, focusing on results and innovation instead of the number of hours worked or the effort spent. This system resulted in the letting go of many employees who’d worked hard and performed well. But it also resulted in the better performance of the company (and, in many ways, in less stress for the remaining employees).
The problems with hard work
The Netflix example may seem harsh, especially if you’ve based your career around working hard. What if you too were fired after a decade of putting in long hours and genuinely trying your best?
Still, there are three main problems with hard work that an alternative culture or approach could correct:
“Hard work” doesn’t equal “results.” First off, hard work doesn’t necessarily correlate with results. For example, it doesn’t matter if you put 100 hours in to the design of your landing page; if your site doesn’t convert,you may as well have spent one hour.
Hard work isn’t efficient work. Next, consider that hard work isn’t necessarily efficient work. If it takes the person next to you three hours to complete a task that you could have completed in an hour, that extra hard work may have actually cost the company unnecessary time and money.
Hard work doesn’t encourage innovation. Finally, focusing on hard work doesn’t encourage innovation or novelty. Instead, it encourages repetition and persistence. Those factors can be good, but you also need some drive to try new tactics, incorporate new ideas and learn new things in your life.
What to focus on Instead
None of this is meant to imply that hard work isn’t valuable — only that your hard work should be reserved for when it counts the most. So, as an individual (whether you’re a professional or an entrepreneur), what should you be focusing on instead?
Efficiency. Focus on your efficiency. Instead of spending more hours, emphasize doing more with the hours you already have. For example, you could automate certain processes, delegate work beneath your paygrade or find new strategies to accomplish more within a set time frame. You can also work on eliminating redundancies in your workflow, or on abandoning tasks, meetings, and projects that eat up your time unnecessarily.
Results. Focus on results, prioritizing the work that seems to yield the highest return on your time investment. What’s really going to help you succeed? Reduce or eliminate anything that doesn’t fall in line with that vision, and don’t be afraid to make cuts.
Improvement. Focus on improving yourself and your surroundings. Instead of working hard on level one, spend some effort trying to get to level two. Invest in yourself, learning new skills and gaining new experiences, and invest in your environment by training your employees and making sure you have the best tools available for the job.
Hard work is incredibly valuable, but we shouldn’t keep thinking of it as the most important factor for success. Instead, we should see it as one of many factors that can help us, but won’t, in itself, necessarily save our businesses.
For American astronauts, the moon beckons once again
How to change the background on a Mac
Outfit the athlete in your life with one of the best gifts for runners
Verizon will help you watch the NFL … even if you’re not a Verizon customer
The best ad blockers for Chrome
Entrepreneurs See Opportunity Addressing Consumer Demand for Pesticide-Free Cannabis
Wait, Did Elon Musk Just Announce A Flying Car?
This Grocery Chain Is One of Tesla's First Semi Truck Buyers
Sierra Nevada Satisfied with Dream Chaser Glide Test
The Top Ten Tech Jobs Where You Might Not Need a College Degree
- attention2 weeks ago
12 B2B Social Media Marketing Firms To Be On Your Radar In 2018
- 20181 week ago
7 Ways To Engage Millennials and Gen Z On Social Media In 2018
- Technology2 weeks ago
Samsung’s offbeat washing machine ad puts Brits in a spin
- Technology2 weeks ago
HP Spectre x360 13 vs. Lenovo Yoga 920: Fighting for convertible 2-in-1 primacy
- Business2 weeks ago
The 12 x 12 x 12 Rule for Successful Networking
- Business2 weeks ago
Understanding the Risks of Wall Street Investing
- Space7 days ago
Mathematicians Awarded $3 Million for Cracking Century-Old Problem
- bad reviews1 week ago
How To Absolutely Own Bad Reviews And Pump Up Your Brand Identity