Wednesday, October 7th, 2009
#Traditional Media Still Important, Relationships Key
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.






