Greentarget

August 1, 2022 by Greentarget

If your firm is facing a crisis that’s about to make headlines, your first instinct is probably to try to make the story go away. That’s understandable. No one wants bad press or to see her or his firm’s name dragged through the mud.

But you can’t stop reporters from doing their jobs. They are going to tell your story regardless of your feelings about it. And if you try to kill the narrative, your efforts could cause more reputational harm for you and your firm than the bad news itself.

As a senior leader, it is up to you to calmly guide your firm through the crisis with honesty, transparency and humility. There may be no way out, but there is a way through. And in our experience, the way through is eased by mindful appreciation of certain things that aren’t commonly found in your typical crisis playbook.

Here are the seven truths you should remember when the next crisis hits.

1. The Press Coverage Is Going to Be Bad. You Can Only Make It Less Bad.

If a reporter asks you to provide a comment for a story about a crisis at your firm, you can’t make the story go away, turn it from negative to positive, or avoid the likely ding to your reputation. The coverage is going to be bad. But you may be able to exert control over how bad it is by:

Giving the reporter an interview. As counterintuitive as it may feel, now is not the time to shy away from the spotlight. Instead, engage skillfully with valid arguments and counterpoints that provide context for your side of the story.
Helping reporters get it right. Credible journalists want to be fair and accurate. Give them context and information that will enable them to separate fact from fiction.
Communicating directly with your audience. No matter how many people hear the bad news that’s about to break, remember: The world is not your audience. Spend the lion’s share of your energy communicating directly with your employees and clients and other stakeholders who matter most.

2. You’re Going to Feel Differently About This Crisis in Three Months.

So the press coverage was bad. You’re embarrassed and morale at your organization is low. When facing such a scenario, it may feel like the stigma will last forever. But Wells Fargo is still making loans. United Airlines is still flying planes. And you can still pick up a Whole30 Lifestyle Bowl, with double protein at Chipotle in your brand new Volkswagen. These companies worked through significant threats to their reputation and you will too. The way you respond to the crisis will influence how long it takes for you to rebound. You need an authentic mitigation strategy and effective communication plan to regroup and redirect.

3. Your Default Corporate Statement Will Cause Eyes to Roll. This Is the Time to Be Authentic and Vulnerable.

In response to bad press, your lawyers and advisors will want you to release a statement that shields your firm from liability. Chances are it will sound overly formal and stilted, not address the underlying issue, and sound nothing like anything a human being would actually say. If you want to repair the reputational damage a PR crisis can cause, resist the urge to hide behind the pat holding statement.

Moments of crisis require executive leaders to respond with transparency and accountability. Your employees, clients, and other stakeholders want to know you genuinely care about addressing the underlying problems that brought your firm to this situation.

If you need to dispute certain details in the press coverage or the degree to which the organization is responsible, you can do that. (See no. 6, below.) But do so while expressing sincere regret for any missteps that occurred on your watch. Above all, communicate empathy and concern for anyone who was harmed or affected by the events in question.

4. Set Your Ego Aside. You May Be Embarrassed, but This Is Not About You.

Sharing statements that dodge accountability is not the only way to undermine effective communication. Your own ego and the desire to avoid personal embarrassment can also get in your way. A reporter’s questions are rarely ad hominem attacks. Even if they are, taking them personally risks clouding your judgment. To address the issues at hand, your vulnerability and willingness to listen are more effective because they are disarming.

5. If Something Is Broken in Your Firm, Fix It.

Good things can come out of even the worst situations — but only if you’re willing to do the hard work of repairing what’s broken. To that end, don’t waste the opportunity this crisis affords. As an executive, you have the power and responsibility to get to the bottom of what’s wrong.

Some problems are easier to fix than others. But even if you discover systemic issues, don’t give up until you unravel them. Ask your employees, stakeholders, and investors to help you identify and name your organizational shortcomings. And empower these same people to help you solve them.

Once you’ve done everything you can to address and repair the situation, communicate the steps you’ve taken with the press and with your internal and external stakeholders.

6. You’re Allowed to Punch Back if It’s Warranted.

You should do everything in your power to remedy situations for which your firm is responsible. But if a reporter assigns blame to you for things out of your control — or treats you with blatant unfairness — you should absolutely address it.

Do your due diligence first. Make sure you fully understand the situation and that you have your own facts straight. But then feel free to go on the record and dismantle the opposition’s arguments using clear, to-the-point communication. Don’t accept an unmerited hit to your reputation. And enjoy the warm feeling of satisfaction that this will deliver!

7. You Need to Take Care of Yourself.

Leading an organization through a reputational crisis is not easy. The potential for overwhelming stress and exhaustion can’t be overstated. You need to take care of yourself in order to handle the situation in the best way possible.

Think about the fundamentals that you need in order to stay focused and productive on a normal day. Do you typically run a few miles every morning? Write in your journal to keep yourself accountable to your goals? Eat a healthy diet full of fresh fruits and veggies?

It’s tempting to forgo selfcare and other wellness routines during stressful situations. The “all hands on deck” mentality can even make you feel guilty for spending time on yourself. But all the added pressure and stress make it more important than ever to double down on the fundamentals so you can continue to function at peak performance.

Your organization needs you to be at your sharpest to see it through to the other side of the crisis. So give yourself opportunities to take a break from the unrelenting news cycle and focus on the people, places, and pursuits that bring you joy. Doing so will help you carry the heavy burden of leading a firm through a high-stress season.

The good news is you don’t have to navigate this crisis alone. Greentarget has developed effective PR strategies for clients facing a variety of special situations. We’d be happy to help you, too — just reach out.

July 20, 2022 by Greentarget

Venture capital investments are increasingly hard to come by. With the stock market heading into bear territory and inflation reaching all-time highs, investors are making fewer VC bets and expecting sweeter terms when they do. In fact, some analysts say VC investments will decrease by 70-80% in the coming months. And that means if you’re a Stage 2 start-up looking for Series B or C funding, you need the biggest competitive edge to differentiate you in the market.

This starts by building credibility with prospective investors. And the best way to do that is with an aggressive earned media strategy that garners endorsements from top-tier media. Here’s how working with a PR firm can set your start-up apart so you can secure the VC cash you need to propel your business forward.

Invest in PR to Secure the VC Investments Your Start-Up Needs

Your advisors are probably telling you to conserve cash and temper expectations. But let’s be honest — you can’t afford to simply tighten your belt and wait for the market to shift. You need to deliver ROI to your current investors as quickly as possible and secure additional capital to fuel your company’s upward trajectory. So it’s time to shift your focus toward making a stronger case for why your company deserves funding.

PR is a strategic tool to increase your credibility and position you as a leader in your industry. And the good news is it also happens to be one of the most cost-effective ways to accomplish these objectives.

Advertising campaigns are expensive. Presenting or manning a booth at a trade show can also take up a significant portion of your marketing spend. But investing in an earned media strategy is affordable and attainable and has the potential to make a lasting difference for your business.

Find and Hone Your Start-Up’s Unique Positions of Authority

You know your industry needs the product or service your start-up offers. After all, you’ve built an entirely new company around that core belief. But to stand out in a crowded VC landscape, you need more than a solid business plan. You need to communicate unique positions of authority.

At its heart, demonstrating authority is an act of service. Your start-up’s thought leaders possess insights that can help your potential customers make smarter decisions, plan more effectively, and navigate complex challenges. Sharing your knowledge in a strategic and thoughtful manner shows your audience and investors you’re worthy of attention.

Firms like Greentarget can help you discover and hone your points of view — and then leverage them to make a name for your start-up in the media. This happens through:

Talking with your company’s leaders and subject matter experts to learn about their expertise and build the foundations of your content plan
Reviewing the earned media landscape to determine what journalists are writing about and what their needs are
Developing hypotheses about needs in your industry and then conducting primary market research to suss out salient insights
Discovering what topics have been discussed at length and identifying gaps for your experts to step into
Talking with your company’s leaders and subject matter experts to learn about their expertise and build the foundations of your content plan
Reviewing the earned media landscape to determine what journalists are writing about and what their needs are
Developing hypotheses about needs in your industry and then conducting primary market research to suss out salient insights
Discovering what topics have been discussed at length and identifying gaps for your experts to step into

For example, say your start-up is launching a software platform for supply chain and logistics. Given the world’s ongoing supply chain disruptions, reporters are eager for new insights from qualified subject matter experts. And it just so happens your CEO is aware of changes to shipping practices in Asia that might affect the landscape in the coming years.

In this scenario, we would take the lead to conduct extensive research on the topic, identify gaps that haven’t been covered yet, and work with your CEO to flesh out strong positions worthy of media attention. In turn, your start-up establishes its position of authority in the public arena and demonstrates to investors that you’re worth backing.

Use Storytelling to Demonstrate Your Start-Up’s Value in the Market

Facts alone won’t inspire VC investors to bet on your start-up. In fact, stories do a better job of persuading people than data ever does. That’s because narratives evoke an emotional response — and humans tend to lead with emotion when making decisions.

The same holds true in B2B decision making. Even the most sophisticated and educated professionals tap into their emotions to guide them rather than leaning on rationality alone.

Of course, facts still matter. VC investors will most certainly pay close attention to your business plan. They’ll scrutinize your strategies and ask pointed questions about how you’ll follow through on delivering the ROI you predict. But stories bring those cold, hard facts to life and ultimately do the hard job of persuasion. It’s an example of the “show don’t tell” philosophy. Every start-up has its hard data and KPIs. But through intentional storytelling, you can shape those metrics into a narrative that assures investors they’re making the right decision.

So if you want to secure VC cash in a tight market, make it a priority to tell compelling stories about the value you bring to your field.

Paint a Picture of Long-term Impact

Many start-ups come and go without ever reaching the success they envisioned. So it’s important for potential investors to know that you have a solid vision for your product or service. They need evidence and reassurance that your start-up will stand the test of time.

The first step is to make sure your intellectual property is protected. Secure any patents required so you don’t risk losing out to an unscrupulous competitor. Then, create narratives showing how your start-up will meet a need or fill a niche not only now, but in five years, ten years, or longer.

How One Start-Up Used Storytelling Effectively

One of our start-up clients, Zipari, used storytelling extensively in their efforts to grow their business. When they launched their signature product — the only consumer experience (CX) platform built specifically for health insurance providers — they needed to elevate the company’s position as the leading innovator (in an industry that’s notoriously slow to innovate).

We harnessed Zipari’s unique understanding of the digital guts of health insurers to position Mark Nathan, Zipari’s CEO, as a thought leader. We established a regular cadence of founder-led thought leadership and media coverage at key points throughout their growth cycles to develop a generous brand voice and reinforce the company’s vision. Through this thought leadership coverage and storytelling around its CX platform, Zipari shared how they helped clients (health insurers) improve ROI and drive healthier member actions.

As a result, Zipari secured a strategic growth investment that allowed them to acquire another healthcare engagement platform (HealthX) and significantly grow their company’s value.

Start Leveraging Your Authority to Secure the Investments You Need

Your company already has extensive amounts of expertise to leverage. You just need to identify the unique positions of authority that set your company apart — and then tell the stories that will resonate with your audience and investors.

Greentarget can help — just reach out.

June 29, 2022 by Greentarget

Reaching your audience is simultaneously easier and harder than ever. On one hand, you have a host of digital channels and communication platforms on which to share your messages. On the other hand, it can feel impossible to cut through the digital noise long enough to compel your audience toward action.

Every piece of communication you create needs to count. You must be crisp, clear, and persuasive in order to stand out.

But how can you be sure your communications deliver the impact you intend? Research shows that humans lead with emotion first, then rationalize their positions using facts.

This is equally true in B2B and professional services settings where decisions are made in groups. Do you know how to tap into the emotions that drive your audience?

June 9, 2022 by Greentarget

In March 2022, Elon Musk tweeted: “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?”

Musk answered his own question a few weeks later when he made a formal offer to purchase the publicly held social media platform and take it private. A self-proclaimed “free speech absolutist,” Musk’s goal is to remove many (if not all) of the Twitter Rules the platform uses to moderate user content. He might even restore the banned accounts of controversial figures like Donald Trump and conspiracy theorist Alex Jones. Some fear changes like these could unleash unprecedented levels of hate speech, harassment, and misinformation.

Of course, it remains to be seen whether Musk will follow through on his offer or walk away from the deal. And sure, there’s a chance he could change Twitter for the better. But regardless, his arguments about free speech and public spaces merit close consideration.

Here’s why Elon Musk is wrong about Twitter — and a few thoughts about how authorities can and should respond.

Historic Town Squares Were Carefully Regulated

Let’s assume that Elon Musk is right — that Twitter functions as a digital town square. Even if that’s true, he’s missing a critical detail. While town squares are public spaces, they are not — and never were — free from government oversight.

Modern town squares evolved out of the British concept of the village green or town common. In the Middle Ages, villagers who didn’t own land were permitted to raise crops, care for their livestock, and buy and sell goods in these public spaces. Many common areas also featured bogs where commoners could cut peat, an important heating source equivalent to modern-day public utilities.

But did villagers have unfettered access to do whatever they wanted? Could they consume public resources without limits? Of course not. Use of the village green was carefully regulated by overseers in charge of distributing this precious shared resource.

That’s because without rules, common spaces risk succumbing to “the tragedy of the commons.” This 19th century economic theory argues that individuals who consume a shared resource by acting wholly in their own interest — and at the expense of every other consumer — will ultimately degrade and endanger that resource. This is especially true when there are no guardrails in place to prevent anyone and everyone from consuming the resource.

Put simply, town commons exist to support commoners collectively. Any single individual’s rights — or that of one group — cannot supersede the common good. As such, community standards must be applied. So if Twitter really is a town square, rules and regulations are a justifiable and even essential part of the equation.

The Right to Free Speech Isn’t Absolute

The second part of Elon Musk’s tweet argues that the limits Twitter imposes on free speech undermine democracy. Again, his thinking is flawed.

As most of us can recall, the First Amendment states, “Congress shall make no law abridging the freedom of speech.” The First Amendment is solely concerned with protecting Americans from government overreach. As such, the right to free speech guarantees us the freedom to speak truth to power and hold the government accountable for its actions. It does not give us the right to say anything we want whenever we want to say it.

We can’t yell fire in a crowded building. We can’t spew hatred toward members of protected groups without consequence. And no one has the right to stand on someone else’s front porch and scream profanities.

The First Amendment simply does not extend into the private sector. Plenty of institutions, corporations, and entities can choose to limit speech within their spheres of influence. Universities, private businesses, civic organizations, and religious institutions may all impose limits on what their members and constituents say.

To that end, all social media platforms, including Twitter, are well within their rights to place limits on speech as they see fit. If Musk is concerned with upholding democracy, he should take his quest elsewhere. The government doesn’t own Twitter, and therefore Twitter’s stance on speech has no bearing on the health of our democracy. Elon Musk cannot make Twitter any more free from government interference than it already is.

Why Should Authorities Care — And How Should They Respond?

Elon Musk is right about this much: Important conversations take place on Twitter. And because of that, it’s crucial for authorities to step into this arena and shape smarter conversations.

The challenge here is that true authority is getting lost in the noise, and the public’s respect for bona fide expertise keeps diminishing. Thanks to the rampant spread of misinformation and disinformation in a highly polarized environment, it’s becoming harder and harder to break through the digital clutter and capture attention.

But authorities must try.

Directing a smarter conversation involves putting several elements of our Authority Manifesto into practice, including:

Challenging non-experts with new or conflicting perspectives.
Creating unique positions of authority that cut through the digital clutter.
Participating skillfully in uncontrolled settings to effectively disseminate your point of view.
Reaching your audience effectively by communicating in the places and spaces where they spend time.

Without the influence of authoritative, fact-based points of view, the public could very well experience the tragedy of the commons in a whole new way.

Elevate Smart Conversation on Twitter and Beyond

Time will tell whether Elon Musk will actually buy Twitter and implement a no-holds-barred approach to speech on the platform. Whether he does or not, your professional services firm has a role to play in demonstrating true authority and elevating the conversation for your audience and society at large.

But to direct a smarter conversation, you need to first create and hone your unique positions of authority. We’d love to help.

April 19, 2022 by Greentarget

Over the past two years, reporters have increasingly turned to online video calls as convenient ways to conduct interviews with faraway sources. The result has been an influx of opportunities for business leaders to engage with the media and establish themselves as authorities in their areas of expertise.

To take maximum advantage of this, one must be ready to not only interview with reporters, but do so via Zoom or similar programs. These interviews come with their own set of challenges and considerations…but don’t worry: we’re here to get you and your firm prepared.