It's an age-old question...
How do I get into the [Wall Street Journal, New York Times, BusinessWeek, Forbes, Fortune, USA Today...] "fill-in-the-blank" business publication?
Having just returned from a series of meetings with our clients, I had a number of discussions about this very topic. And given it's such an important one, I thought it would be useful to offer some of the insights we regularly share through a short business press FAQ.
Q. Who merits a meeting with the business press these days?
If you’re not Google, Microsoft or IBM, it's not easy to get in the door. But the business press will take a meeting with hot companies, public or private, that offer unique, dominating or first mover products or services that are truly (and probably) disruptive.
Business press follow leaders, but are always on the lookout for the upstarts who could be tomorrow's leaders. Still, the onus is on you to prove that you, or your client, has a shot at the top spot. Some indicators could be:
- A unique and compelling offering that is gaining traction in your market (who are those guys?).
- A well known management team with a track record of success (they are doing it again!).
- Investment by one of the big players who seem to have spotted another winner.
Q. If you get the meeting, will they write anything?
That’s part 2 of the issue. How do you ensure you get some ink. Sometimes the meeting is about building a relationship. Your CEO may not be a household name, but he or she may have quietly assembled an incredible string of successes and have a viewpoint that will be very interesting to the reporters and their readers.
But the key element you need is something new -- the basic definition of “news.”
- Unusual applications of products or services within name brand companies (customers who can talk are key) who can describe specifically and in an interesting and entertaining way a new approach to doing something that others could learn from.
- Relevant information about trends or issues. For example, the business press and its readers don't want to hear about your deep packet network inspection, but they may be interested in learning more about how countries are waging cyber-wars against each other. The latter makes the story relevant to a broader business audience rather than focusing on product details which won't cut it with most business press reporters.
- Expert sources who can make stories come alive. One of our client (which actually DOES do deep packet inspection) has gotten incredible business press coverage because they consistently deliver an expert in cyber-terrorism who is just plain incredible to talk with. He is a wealth of information about what is going on worldwide and gets tapped frequently for articles or broadcast pieces on this subject.
Q. If you don’t have news or customers who will talk, is it ballgame over?
Not completely. There is a growing entertainment aspect of business publications and broadcast news outlets. If your CEO is particularly colorful or unique and is willing to talk about his background or hobbies, he may break through. For example, we have a great client who has some very interesting hobbies that the press has found intriguing and worthy of business press inches. The primary interest of this CEO, as appropriate, is talking about his company, but he's been good enough to participate in these meetings as part of the relationship building that is so key to getting good press in a noisy market. And his time has paid off in higher visibility for his company and products.
Q. Do you have to be public?
A. No, but it certainly helps to be a well known, large, publicly-traded company. And remember that magic fairy dust isn’t sprinkled over you when you enter the public market to prompt the business press to bang down your door. Public or private, you still need to emphasize the elements that make you newsworthy: growth, disruptive technology or market-changing products or services. Major news – something that will affect a broad cross-section of the publication’s readership – will give you an edge in consideration for coverage.
We recently got some great coverage for a young emerging company that is not public, but has created a very cool technology that is game changing in the melding of TV ads with the actionable "click-here" aspect of the Internet. The size of the company didn't matter. The fact that our staffer who pitched it knew how to convey why this technology was game-changing did matter. Being able to name a customer who signed on for this new approach was the news hook. The fact that his client delivered a strong interview and information that led to a good story the reporter could sell to his editor resulted in two pages and photos in BusinessWeek.
Q. Do you need to give them an exclusive?
Sometimes there is just no substitute for playing favorites with a story and giving it to one outlet over another. As a former journalist who hated being burned, I never recommend this approach lightly. But there are occasions when a story isn't "hotter than hot," but would be more valuable to a business press reporter if he or she got it earlier and received special access, allowing that reporter to build a better story around it.
When appropriate and when done with the right planning and execution, this strategy can help you break through, particularly if you are newly public.
What's really fascinating about all of this is that the evolution of the news media and the onset of blogs has not changed these fundamentals, in my humble opinion.
But I'm always eager to hear from others about what they are seeing.