PR is ripe for reinvention
Be ready to embrace new possibilities as PR reinvents itself for the digital world of content and commerce, writes Finn’s Matt Bourn
There are times in a career that provide opportunity for reflection – my move from leading a specialist media PR practice to launching the London office for Finn, is one such moment.
So, prompted by a conversation with Mediatel’s editor during Ad Week Europe, in which we discussed what had changed in PR over the last 15 years, I’ve picked out a number of seismic shifts – and share my view on the emerging opportunities.
PRs outnumber Journalists: The PR Census 2016 shows there are 83,000 people employed in PR while The Labour Force Survey (LFS) figures for the year up to June 2015 reveal 64,000 people in the UK described themselves as “journalists, newspaper and periodical editors.”
PRs outnumber journalists, a shift in balance that has changed all sectors of PR, but specifically, in my experience, B2B PR for businesses in the media and marketing landscape.
Our trade media landscape: A few years ago, three print titles published Tuesday, Wednesday and Thursday each week, shaped the industry agenda for marketers, media owners and agencies. Now, Twitter feeds from a handful of influential journalists break news, multiple digital newsletters and sites carry more news, opinions and thought leadership content every day than most could hope to read.
At the same time, the main B2B publishers are heavily scrutinising print’s future for the UK’s marketing and media professionals.
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The impact of technology: The LumaScape, published annually, is a great way to visually understand the dramatic changes in relationship between marketers and consumers. This has brought a multitude of new businesses into the media and marketing landscape, with bigger marketing budgets demanding a more tech-driven agenda.
To some extent, I think we are seeing a consumer response to the marketing agenda of recent years, with behaviour such as ad-blocking.
The curse of self-publishing: Conversations with journalists and influencers has reinforced the need for businesses to consider the UK media sector’s unique culture. The growing trend towards self-publishing adopted by international companies across the media, marketing and ad tech landscape simply doesn’t work for UK journalists.
Indirectly, I believe this is because we are a unique territory defined by the existence of the BBC. This powerful media outlet, only accessible by PR, ensures the journalistic standards of commercial media are the world’s highest and deserve to be respected as such.
Change in PR measurement: We haven’t quite escaped the requests for Advertising Value Equivalency (AVE) on media coverage but we’re getting there!
Yes, clippings books in receptions still have a role, but as PR encompasses paid, owned and earned media, it is worth looking at developments such as AMEC’s new Integrated Evaluation Framework which sets out to prove how PR has supported the organisation’s business objectives.
PR truly does have the power to make a tangible commercial difference to a business. We are getting closer and closer to measurement systems that conclusively prove this.
The role of data: Data and how to use it is impacting all areas of marketing. The best PR campaigns were always built on insight, whether that was audience research, journalist audits or in-depth knowledge of a particular sector or issue. However, the explosion in available data means PRs using analytical techniques in campaign planning can develop well-informed, truly powerful solutions.
My specialism in the media sector has meant I have worked with businesses at the forefront of digital disruption. This isn’t a UK-only phenomena; a study published by the Harvard Business Review in March of more than 2,000 C-level executives showed 72% of media business executives believe their business will be moderately or massively disrupted by digital in the next 12 months.
Media is the most disrupted from 15 industry sectors, followed by telecoms, consumer financial services, retail and technology.
In the midst of this disruption, reputation has grown in importance, particularly for C-suite executives. The PRCA’s Economics of Reputation study is an excellent record of this, showing reputation is most valued by CEOs among board members, seen as essential to attract the best talent, generate the best share-of-voice in media coverage and secure positive support from shareholders.
I am a passionate PR practitioner. For me, all of these shifts at such a dynamic time for media point towards the reinvention of PR – a need for the discipline to fight for its core role at the heart of the business, handling reputation to manage, protect and grow businesses and individuals.
PR needs to embrace the new, emerging marketing forms such as native advertising, content marketing, content creation, particularly in video and for social channels, while also taking lead responsibility in critical areas for reputation such as thought leadership, awards, industry events and sponsorships.
PR at its reinvented best will set the strategic rules of the road for companies across the media and marketing landscape, as it will for all businesses looking to build reputation with consumers.
It is time to recognise PR as the most empathetic marketing discipline during a period of great change. To all business leaders who place fundamental importance on reputation for individual and organisational success, I have this advice. Seek excellence in the core elements of PR, such as journalist relations, but also be ready to embrace the best from the new possibilities as PR reinvents itself for the digital world of content and commerce.
Matt Bourn is partner & director, London, Finn
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