PAN Communications prSPEAK

Over the past two years, one of the major themes across all business publications has been the dismal state of the economy. Lessons learned articles with phrases like “How to XYZ in a Down Economy” have been flooding the headlines and executives who have weathered economic storms of the past have been sourced for their valuable experiences and advice.

Last week the Dow hit 10,000 and this propelled what began as a mumbling across the internet that the economy is on the rise, into a wave of optimism. Though there are many experts proclaiming that despite these sporadic glimmers of hope, the end is not near—there is no doubt that businesses are beginning to think about how to position themselves to succeed when today’s economy does get back on track.

From a media standpoint, this has opened opportunities for businesses that have been able to weather not just storms of the past, but this storm, successfully. Recently, we have positioned a number of PAN clients for opportunities that went beyond their traditional trade publications to offer broader expertise in top tier business publications.

Recently, in her regular “Stand Out” column in SmartMoney, Diana Ransom tapped CEO Ryan Wuerch of Motricity for his strategies behind making and overcoming tough decisions to keep his company on top. Offering his perspective as a business owner, rather than an expert on mobile internet, provided an opportunity to reach a wider audience outside of those focusing  solely on Motricity’s industry.

In another SmartMoney article entitled “One Year Later: Lessons from the downturn,” Tangoe, a company specializing in telecom expense management (TEM), a very niche space, was able to break out of the traditional conversations around TEM and connect with SmartMoney’s audience in a more relatable way. For this opportunity, CEO Al Subbloie was able to highlight his company’s success over the past year and also further assert his leadership in the TEM industry and beyond. A topic from which many businesses can glean advice, the article was also included in the Wall Street Journal.

As we continue to have such a close eye on the economy, it is clear that media opportunities forward-thinking in nature, abound. Predictions and analysis on when we will climb out of this slump will continue and as they do, thinking about how clients can weigh in on the conversation from unique, but significant ways, will be key.

Today we find Bloomberg had rushed in at the last minute to buy BusinessWeek, which was arguably (if not lately) considered to be the bible of the business world; and The Wall Street Journal overtook USA Today as the nation’s largest paper measured by paid subscribers.  Either news item on its own has enough weight to merit reflection and analysis, but one following the other so closely?  Well, that’s a lot of conflicting information out of the media for one day.  Although not yet fully understood, there will certainly be real implications for publishing, advertising, PR and the media industry as a whole.

The Wall Street Journal news is a little surprising given the past year’s prevailing atmosphere of media consolidation, collapses and closures.  The paper seems to be bucking the trend and turning Rupert Murdoch into a “could be” prophet when he said “the philistine phase of the Digital Age is almost over.” Is it really possible not everyone on the web will demand free content?  The Journal’s news seems to say so.  But The Journal is The Journal and certainly–just as in all industries–there are islands unaffected by tides.

BusinessWeek’s situation likely more accurately reflects the publishing industry’s status.  While the ‘08/’09 economic crash can take some of the blame for the decline in advertising revenue, the industry’s problems had been building for some time.  The web has forced newsrooms to shrink, foreign bureaus to close and has hampered the ability of mainstream publications to keep up with breaking news over social tools and networks.  Traditional outlets may excel at analysis, but they can’t beat the web in a number of areas which used to be dominated by newspapers, news programs, radios and magazines–especially weekly magazines.  Eventually and surely, new technology overcomes old methods.  Bloomberg is a data-driven organization that has learned to adapt to the web, and the web has made available more data to an increasingly wider audience which Bloomberg would like to tap.  BusinessWeek’s straightforward ability to analyze and simplify market news probably fills an increasingly larger need in Bloomberg’s organization as it looks to expand its influence beyond the financial spectrum.

For the media (and for advertising, PR and other dependent industries) the signals to adapt and even plan for what’s ahead couldn’t be more clear.  The media has to write for the web, business has to build for it, and the rest of us need to embrace living in that world.

As we see fewer editorial contacts at the major print outlets, we will see an increase in freelance and even “citizen” journalists with the ability to publish and build an audience at their whim. Social media savvy has become increasingly critical in reaching and influencing these new thought leaders, and the successful employment of tactics and strategies take more than just passing familiarity with the medium.  The mainstream media’s mixed messages are keeping all of us on our toes, and for the best of us, on top of our game, too.

Account Manager Becki Parkhurst talks with Jennifer Meyer, Co-Director, Technology Portfolio

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Despite the rapid growth of social media channels/communities and their importance in public relations today, traditional media continues to play a central role for many public relations programs. Many traditional media outlets have expanded their online and social media channels, and are often cited and picked up by other social media channels, effectively growing their viewership.

And it’s nothing new that traditional media has been plagued with challenges. For newspapers, reduced circulation and advertising has seen significant reductions in the number of pages available for news, along with a reduction of staff. Reporters are forced to cover more beats, and the space they have to work with has been reduced considerably. Real estate in newspapers is at a premium and the stories being run have to appeal to the broadest number of readers possible, while tapping the most current trends.

As a result, these occurrences have changed much of the perceived, traditional public relations role. Relationships are at a premium, and even a strong relationship doesn’t guarantee placement in the top tier media.

The Investor’s Business Daily piece secured on behalf of Patni Computer Systems is a perfect example of these changes to the industry. This coverage has been in the works for some time. When PAN started working with Patni in 2007, the company’s stock price had risen to $28 per share, the recession had not yet started and the PAN team secured the interest of Technology Reporter J. Bonasia to speak with the current CEO and founder of the company.

As Patni’s founder and CEO was constantly on the road visiting clients, scheduling a face-to-face meeting was nearly impossible. As the recession started, the company’s stock price decreased along with much of the industry. Additionally there were leadership changes taking place in the company as well. A new CEO was brought onboard in February 2009. An industry scandal involving a competitor occupied much of the editorial coverage related to offshore outsourcing during the first quarter of 2009. Additionally, the outsourcing industry was continuing to sink as revenues continued to decline.

Once Q2 2009 set into motion, Patni’s stock price turned the corner. Investors, clients and employees strengthened their belief in the company. The stock started to rise. Through a long-standing and trusted relationship with the reporter, Bonasia, the PAN team continued to update him on the company’s progress.

After two quarters of continued growth, the company’s stock price passed $18 per share. That turned out to be more than a 300 percent growth in its stock price in less than seven months. The new CEO was making a significant difference with the investment community and the outsourcing industry overall. This was enough to finally set the date for the interview between the new CEO and Bonasia. The conversation went so well, the reporter and his editors wanted to turn this Q&A into a larger feature piece, if we could secure the proper artwork. As the CEO was new, there were no clean photos that fit the papers’ needs. The PAN team convinced the paper to send a professional photographer to the company’s headquarters in Mumbai, India, for the shot.

When the article appeared, the reporter sent a note commenting that this was a long work in progress and appreciated our assistance to making it happen.