Greentarget

Blog

by

Source: CB Insights

Look familiar? As a PR pro who develops content for professional services firms, it certainly does to me.  

Yet the above didn’t take weeks of focus groups, client calls and multiple rounds of editing to produce. Instead – at the behest of CB Insights’ CEO – it was written in less than two seconds by ChatGPT, the new AI-powered chatbot that has made headlines since its public rollout last November. 

Those headlines might have you think that jobs like mine will go the way of the VCR. In my view, though, the real issue isn’t that AI can do my job. Sure, AI can help get things started, draft great SEO headlines, and effectively regurgitate basic information and summaries. But as numerous critics have shown, ChatGPT’s content is rife with inaccuracies and wooden prose – not to mention it’s really bad at jokes.  

Perhaps most importantly, however, it is unoriginal by design. In formulating a response based on its ingestion of existing content on the internet, ChatGPT is essentially just “giving you some text that statistically is likely to represent the consensus view on whatever topic you ask it to comment on.” It’s no surprise CNET articles written by AI have come under fire for plagiarism.

An increasingly AI-powered content marketplace poses particular risks to professional services firms, who, with their stiff, jargon-filled language, already tend to sound alike. And not having fresh content could have real consequences: as our 2022 State of Digital & Content Marketing Report shows, more than two-thirds of respondents (71% of in-house counsel; 69% of C-suite members) cited articles from thought leaders as a critical factor when it comes to researching firms for potential hire.

In other words, if your insights or messaging can be easily imitated by ChatGPT, then why should anyone choose you?

To establish yourself as a true authority, you’ve got to go above and beyond the consensus view to create content that is unique, relevant, newsworthy and, above all, useful. Here are a few writing best practices to help rise above the noise – and outdo anything produced by ChatGPT.

Go deep

In determining whether a certain text was written by a bot, a new app, ChatGPTZero, uses two indicators – one of which is “perplexity.” In a nutshell, the more complex a text, the more likely it was written by a human.

The temptation for professional services firms might be to make things more technical, complex, and jargon-ridden. That’s not the answer. While some more arcane language can be helpful – for example, to signal your expertise to certain target audience – remember that the broader goal is to make your content useful and engaging for busy readers.  

One way to split the difference: be specific. Focus on a particular angle of a particular topic geared at a particular audience. Then deploy specifics to tell a story that makes a complex issue come alive: Frame the piece through a particular news hook, case study, or example; quote experts, cite relevant research or historical documents; use hypotheticals to put the reader in your shoes.

That’s what Jennifer Hull, a client of ours at Berkeley Research Group, did with a recent piece on crypto. Instead of writing a broad take on a subject that has saturated the internet for months, she focused on accounting standards for crypto assets – an emerging, niche issue in the space – and outlined key challenges and unique guidance using specific, timely examples (without being overly technical or dull). After the piece appeared in BRG’s ThinkSet digital magazine, it caught the attention of Accounting Today, which subsequently published a slightly adapted version for their site.

Write with voice

AI-powered content doesn’t typically read as coming from the voice of an individual in all their complexities. That said, neither does a lot of professional services firm content.

Examples like the bland mission statement at the top of this post should serve as a wake-up call to write with voice and personality.

  • Ask yourself: Why should I be writing this vs., say, 100 other intellectual property attorneys –or a robot?   
  • What do I uniquely bring to this topic from my professional experience or personal history?
  • And finally: Can I write like I speak?

To do so, tell stories. Use specific references. Deploy humor, charm, emotion. Draw on your own experiences. Read your piece out loud and ask yourself if it sounds like a human (you!) wrote it.

Vary sentence length and rhythm, too. The other indicator ChatGTPZero tests for, after all, is “burstiness,” described in this recent NPR article as the human tendency to write “some longer or complex sentences alongside shorter ones. AI sentences tend to be more uniform.”

Consider the apology email written by Andrew Benin, the CEO of Graza, a startup that makes squeezable bottles of olive oil. When holiday orders arrived late and badly packaged, he dashed off an 835-word, profoundly human email with this kicker:

“I hope that you stick it out with us on this crazy ride, because damn is Graza tasty, loveable and fun to use…As a small gesture (and keep in mind this email is going out to 10s of thousands of people and we are an 11 month old 5 person business LOL), I’ve created a code wewillgetbetter for $4.43 off any future order (this is truly what we can afford!)”

Authentic, clear, raw, charming, and written in an inimitable voice, the email received a 78% open rate and a resoundingly positive response. Other executive communicators should take note.

Say something new

If ChatGPT’s responses are essentially Frankensteined mashups of existing content – that cuts off (for now) in 2021 – the simple solution is to create something new.

That reinforces our longstanding advice to thought leaders. Don’t just repeat the consensus or tell people what they already know; instead have a unique point-of-view that advances the conversation. To do so, follow these three steps:

1). Frame your topic as a “how” or “why” question. This helps push past a simplistic summary of the issue to a more meaty analysis of why there’s a problem and/or how to address it. It also invites a particular audience and naturally raises the stakes. For instance, to start writing this article I wouldn’t say: I want to write about ChatGPT’s influence on professional services firms. Instead, I’d try: How can professional services firms stand out in an increasingly AI-powered content landscape?

2). Evaluate what’s already been said about the topic. This is where you play ChatGPT – do the research and see what’s already out there. Has what you want to say already been written? If so, try refocusing your question: Is there a more particular audience you can address? A more niche issue that hasn’t gotten as much attention? A timely news hook that can help reframe the piece in a fresh way?

Alternatively, look to yourself: Do you have a unique response to existing solutions? Different solutions to the same problem? A new or more illuminating way to articulate it?

3). Discover what you can uniquely add to the conversation. The key word here is “add.” Don’t contribute to the noise. Engage with what’s already out there and make sure you’ve got a unique and timely contribution. That’s where the two points above come in: leverage your unique expertise, experiences, and voice – and keep the conversation moving forward, not backwards.

Above all, ask yourself: Is this relevant? Newsworthy? Novel? Useful?

That’s what another client of ours, JTC Americas, did in a piece last year about the Community Reinvestment Act (CRA). Despite a flurry of talk about new CRA reforms, the group noticed one element was missing from the conversation that also aligned with its objectives as a specialty fund administrator – namely, that the Opportunity Zones program could help community banks receive CRA credits. By drawing on their unique expertise, they were able to add to a timely conversation about CRA reform in a way that only they could.

The more things change, the more things stay the same

ChatGPT might help with some basic elements of writing. But it won’t change the fact that the most compelling thought leadership, messaging, executive communications, and web copy is generated by real people – thinking human beings with a unique voice, perspective, and expertise.

As The Atlantic’s Annie Lowery wrote in a recent column:

“As a rule, when companies can substitute machines for people, they will.… But even if ChatGPT can spit out a pretty good paragraph on AI, it can’t interview AI and labor experts, nor can it find historical documents, nor can it assess the quality of studies of technological change and employment. It creates content out of what is already out there, with no authority, no understanding, no ability to correct itself, no way to identify genuinely new or interesting ideas.”

Instead, writers could think of ChatGPT (in its current form, at least) as a tool that can free them up from more mundane content production to focus on complex, in-depth work. Thought leaders should do the same.

“In many ways, AI will help people use expertise better,” MIT economics professor David Autor told Lowery. “It means that we’ll specialize more.”

by

Following the widespread racial reckoning of the past few years, legal and executive decision makers are paying closer attention to diversity, equity, and inclusion (DEI) issues than ever before. It’s no surprise, then, that these leaders are looking for useful content to help them navigate an increasingly complex set of DEI-related challenges and initiatives within their organizations–especially given the heightened focus on environmental, social and governance factors. 

But Greentarget’s latest research shows decision makers aren’t finding the depth and breadth of DEI guidance they need from their professional services providers.

This presents a tremendous opportunity to position your firm as an authority on this evolving and complex subject. Crafting thoughtful content that demonstrates your firm’s understanding of DEI pain points and challenges— and how those differ between legal and C-suite executives — can spark conversations with clients seeking to advance their organizations’ DEI agendas. And if your own progress on this front is especially compelling, it can reinforce your authority and even serve as a roadmap for clients to follow.

To that end, here are three content strategies to champion a DEI-focused sea change at your firm and beyond.

1. Collaborate With Diversity Chiefs to Create Your Recruitment and Retention Narrative 

According to the 200 executives we surveyed for Greentarget and Zeughauser Group’s  inaugural State of DEI Content Report, in-house counsel and C-suite executives are seeking actionable guidance on how to recruit and retain diverse talent. In fact, 69% of law firm CMOs said that clients ask for content around this topic more than any other.

However, our research found those same decision makers think their professional services providers have room for improvement when it comes to advancing their own DEI goals.

While CMOs tend to link those internal challenges to a shortage of qualified candidates, diversity officers say firms could move the needle by expanding their recruitment strategies and looking beyond traditional talent pools. Retention plays a significant role in improving DEI metrics — especially at leadership levels. After all, if junior and mid-level associates leave, they never have a chance to advance into managerial and senior positions.

Tell a Better DEI Story

CMOs need to collaborate with diversity officers to advance an authentic and compelling DEI narrative — one that moves beyond optics and percentages.

Like clients, diverse candidates want to see what the numbers say about DEI at your firm. And they want to see more representation of people who look like them in your content. But more than that, they want evidence that your firm is serious about creating and maintaining an inclusive and welcoming culture. Your current employees want this, too.

By working closely with your firm’s chief diversity, equity and inclusion leaders, you can:

  • Uncover and highlight ways your firm is maximizing contributions from individuals in traditionally underrepresented groups — and help them to secure strategic work
  • Elevate diverse subject-matter experts through earned media, thought leadership, and publishing efforts that showcase a range of perspectives in your content
  • Create narratives that foster a stronger ethos of belonging and support

It’s important to avoid a “check-the-box” mentality here. Your content should reflect a genuine commitment to growth. Achieving this kind of authenticity requires you to demonstrate a willingness to listen to people whose lived experiences differ from your own.

Once your firm has walked the walk in this area, you can more effectively help your clients address their own recruitment and retention challenges.

2. Communicate a Broader DEI Value Proposition to Stakeholders

As the chief marketing officer, you shape how your firm is seen by your stakeholders. Through the lens of your organization’s mission and values, you make the case for the value proposition your firm offers to the world. As one GC put it: “Marketing has the credibility and expertise to tell stories about the journey of the underrepresented so that they are in a position to secure more strategic work.” 

Deepening your commitment to DEI while also advising clients on their most pressing DEI priorities bolsters your value and strengthens your position as an authority. 

How? Our 2022 State of Digital & Content Marketing Report shows that corporate legal and C-suite executives look for — and trust — expert advice in the form of articles, webinars/conferences, research reports, and traditional media. Meanwhile, editors and reporters at traditional media outlets want diverse sources to bring richer and more varied perspectives to their journalism. That’s historically been a challenge in areas such as business and financial media, where “expert” voices have typically been white and male. 

Being deliberate about elevating and promoting diverse subject matter authorities in your external comms and content strategy underscores your organization’s breadth of talent and experience. And it’s a powerful way to distinguish your firm in the market.

3. Tailor DEI Content to Your Audience’s Needs

Creating content that’s centered around your own firm’s DEI initiatives is undoubtedly valuable, especially since it’s a way to establish your credible POV. But producing content that addresses the range of pressing DEI topics and issues with which clients are grappling today is arguably what they will find most useful.

Our research shows that key decision-makers unanimously want more content on DEI issues. But understandably, the types of content they’re looking for differ based on the role they hold in their firm.

What the C-Suite Want from DEI Content

Chief executives and management teams think about DEI in broad terms. As such, they tend to view the issue as they would an operating plan — something that requires goals, milestones, and metrics in order to make and measure progress. Since much of their DEI agendas are board-driven, they want advice on developing tangible KPIs so they can report quantitative progress.

You can meet their unmet need by infusing your owned media content strategy with guidance on issues such as how to incorporate DEI as a strategic priority and who should be involved in developing and implementing key initiatives.

What In-House Counsel and Other Departments Need

By contrast, corporate legal officers and other leaders who are responsible for implementing DEI initiatives are looking for detailed, tactical advice to help them carry out their firm’s strategic vision. For example, legal officers want advice from law firms on the “right” way to focus on social justice and speak out on sensitive social issues. 

Other DEI topics that resonate with in-house counsel include:

  • How to create affinity and/or peer mentoring groups to foster a deeper sense of belonging and grow diverse leaders
  • Ways to broaden recruitment practices to attract a wider pool of qualified candidates
  • How to clear the path for members of underrepresented groups to share their ideas and feedback
  • Strategies to increase buy-in and support from mid-level managers and employees across the organization

Despite these different priorities, C-suite and legal department leaders alike need to understand this important truth: Using a business case alone to justify DEI initiatives can actually erode their effectiveness by undermining underrepresented groups’ sense of belonging. Therefore, it’s also important to reinforce the moral aspect of diversity, equity, and inclusion.

In other words, your content strategy should emphasize that caring about DEI is not just good for business. It’s the right thing to do.

Start a Smarter DEI-Focused Conversation

Creating a truly equitable and inclusive workplace — and communicating about it effectively — can be a challenging and messy process. And we all know that real, meaningful change doesn’t happen overnight.

You, your firm, and your clients will undoubtedly face difficult conversations and navigate challenging circumstances along the way. The team at Greentarget can help you participate skillfully as you seek to direct a smarter DEI-focused conversation at your firm and beyond. Just reach out — we’d love to hear from you.

by

Prior to his arrest, Sam Bankman-Fried’s attempts to explain the collapse at FTX did little to reassure or assuage his audience and stakeholders. Nor did they inspire confidence in the company’s ability to rebound from its downfall. Rather, by over-explaining his position, SBF seemed intent on proving that FTX lacks (and apparently has always lacked) any sense of organization, discipline, or accountability.

Allegations of fraud aside, among Bankman-Fried’s mistakes is his insistence on behaving like a classic tragic figure. Like Shakespeare’s King Lear or Arthur Miller’s Willy Loman, Bankman-Fried appears to be unaware of how the world sees him. Yet he can’t seem to stop trying to convince everyone that his own flawed vision of himself is just and true.

What SBF needs (or, rather, needed) is a fool, just like the fool in King Lear’s court — a brave and discerning advisor who’s close to the center of power, able and willing to speak the truth that no one else can. If you’re a PR or communications leader, you’re uniquely suited to meet this need at your organization.

What Executives Can Learn from a Fool

In King Lear, the Fool is not merely a court jester. Sure, the Fool cracks jokes at the expense of the king. But the fool is there to do more than entertain. This character sees through the artifice of the king’s self-delusion and uses irony and wit to force King Lear to look in the mirror and face the consequences of his behavior. 

The Fool is loyal to his ruler, for sure. He has the king’s best interests at heart and knows his strengths and weaknesses better than anyone. The Fool uses his position within Lear’s inner circle to try to protect the king, continually warning him of the folly of his poor decisions.

Where’s the Fool at FTX? 

In an interview with Andrew Ross Sorkin, Bankman-Fried said there was no one at FTX who challenged him. If his account is to be believed, not a single person advised him of the missteps his company was taking. No one was responsible for monitoring risk or alerting higher-ups that what they were doing was dangerous or wrong. (Of course, perhaps someone did try to speak out and SBF was simply unwilling to listen. Lear ignored his Fool, too — and it led to his undoing.)

The result? FTX is bankrupt. Bankman-Fried has resigned as CEO. He lost his personal fortune and the fortunes of others. Many of those who previously lauded SBF’s ingenuity have disappeared. And SBF has pled not guilty to allegations of fraud, conspiracy, and money laundering — underscoring his commitment to proving that his vision of himself is true.

It’s impossible to know if things would have turned out differently for FTX had someone seized the Fool’s mantle. But the lesson here is that every king (or CEO) needs someone who’s willing to play the wise Fool, especially in the face of a PR maelstrom. 

Here’s why PR leaders are uniquely suited to play this critical role. 

You Know How to Shape Messages Your Audience Will Accept

Of all the executives in the CEO’s sphere of influence, PR and communications leaders are closest to the organization’s audience. On good days, you’re the person who’s carefully crafting messages that resonate with the public and advance your organization’s strategic goals. On bad days, you know which messages stand a chance of breaking through the noise to reach and reassure your stakeholders. Therefore, you know what your audience will accept as credible, and what it will find disingenuous. 

As much as they may want to, CEOs can’t kill a negative PR story or otherwise spin their way out of a crisis. They also shouldn’t blindly take legal counsel’s advice to stay silent (although, in SBF’s case, silence would likely have been the better strategy). 

It’s your job to help your CEO communicate responsibly in the midst of any PR challenges your company may face. If you don’t believe what the CEO is saying, you know your audience won’t either. And because it’s your responsibility to protect your firm’s reputation, you have an obligation to rethink any messages that ring hollow or — worse — untrue. It’s not about doing the right thing from a moral perspective (though it is…), it’s about doing what’s best for the company’s reputation.

To play the Fool effectively, you’ll need to:

You Understand How the Firm Should (and Should Not) Respond to a PR Crisis

Following the FTX collapse, the only information Bankman-Fried offered led many reasonable people to draw one of two conclusions: either he’s a criminal or he’s profoundly incompetent. Whichever conclusion you drew, he certainly did little to repair his image, or restore the reputation of his company, or at least slow the erosion of either. 

True, he apologized. But a shallow demonstration of contrition without meaningful insight into what went wrong or what he’d do differently next time doesn’t mean a whole lot to people who’ve lost everything. Bankman-Fried provides an excellent example of how CEOs should not respond to a PR crisis. 

During a crisis, PR counselors remind their CEOs that:

  • Now’s the time to set ego aside
  • Bad stories are probably inevitable, but good PR can make bad stories less bad
  • Statements framed in default corporate-speak alienate the audience further — now is the time for authenticity and vulnerability 
  • Crises are an opportunity to fix what is broken within the organization
  • It’s ok to punch back (purposefully) against false claims, misinformation or carelessness 

PR firms have spent decades creating effective crisis communications playbooks for a reason. Your CEO might want to break with convention to share her or his desired message. But there should always be a thoughtful strategy behind the approach your organization takes.

Play the PR Fool to Direct a Smarter Conversation at Your Firm

The downfall of FTX — and SBF’s subsequent media tour  — provide an extreme example of a badly handled crisis. And though the whole situation is a train wreck you can’t help but watch, there are valuable lessons here for CEOs as well as PR professionals.

CEOs must create space for trusted advisors to tell them the truth — even the hard truths they don’t particularly want to hear. And PR/communications leaders must be willing to play the Fool — especially when, like King Lear, their CEO seems bent on folly of another sort  (whether they’re aware of it or not). 

Greentarget can help you put a PR plan in place that upholds and protects your firm’s reputation. There’s no need to speak truth to power on your own since we’re here to help.

by

The extraordinary upheaval of the past three years has reshaped the world, the workplace, and the way decision-makers consume information, sending the news cycle—and content creation—into warp speed. In this crowded environment, how can marketers create content that stands out from the noise?  

Greentarget’s 2022 State of Digital and Content Marketing Survey, developed in partnership with Zeughauser Group, delivers fresh insights for this new era of communication. The report is our 10th iteration of research into what makes content excel, and our first to do so since 2019.

We surveyed 200 top business executives and in-house counsel for this deep dive into how information consumption behaviors and preferences have changed—and what has stayed the same. Our report also provides practical guidance on how to utilize these findings to create the engaging, informative, and relevant content that decision-makers seek.

Here is a sampling of our key findings, along with examples of how Greentarget puts this knowledge into practice for our clients.

The Enduring Importance of Earned Media

In a volatile environment, executive decision-makers are looking for timely, practical, and trustworthy information to guide their business decisions.

Our 2022 survey found that C-suite members and in-house counsel still look to trusted editors and dependable, established outlets to tell them what matters. Respondents ranked traditional media nearly as important in 2022 as it was in 2019, with approximately 80% rating it somewhat or very valuable. Publications and websites specifically covering the respondent’s profession are also popular, particularly among C-suite executives, who ranked it as their most valuable content source.

Don’t underestimate the importance of a strong media relations strategy for reaching key audiences through the outlets they trust. Earned media is still the gold standard for credibility—and engaging with reporters can help raise your profile.

Case Study: Greentarget’s media relations strategy for Lathrop GPM earned more than 42 media results and 9 million impressions, including in key industry-specific publications, for its environmental and tort practice. The campaign led to new business inquiries, outreach from clients, and regular requests for insight from Bloomberg Law.

The Benefits of Effective Thought Leadership

When it comes to hiring outside law or professional services firms, decision-makers are finding thought leadership and credentialing activities to be increasingly important.

More than two-thirds of survey respondents cited articles and speeches from thought leaders as a critical factor in hiring outside firms, second only to recommendations from a trusted source. Nearly two-thirds of in-house counsel are also looking to thought leaders’ websites and blogs as noteworthy tools for researching outside firms, compared to just half in 2019.

A well-run owned media program can strategically deploy content creation to effectively establish your firm’s authority and expertise, attracting new business and generating additional earned media coverage. Insightful research reports, blog posts, white papers, and podcasts can help your organization stand out from the crowd.

Case Study: Greentarget leveraged the importance of thought leadership to establish Perkins Coie as the premier legal advisor in the AR/VR space. By developing the Annual AR/VR Survey Report, Greentarget secured more than 400 pieces of news coverage in leading national publications and fostered lasting relationships between partners and influential reporters.

The Accelerating Digital Shift

Executive decision-makers are more likely to visit websites, blogs, and webinars or other virtual events now than they were in 2019. When the pandemic put a sudden hold on conferences and in-person events—a key forum for gathering business intelligence—LinkedIn and virtual programming stepped in to fill the gap.

With webinar recordings available regardless of attendance or availability, the digital shift offers important advantages to increasingly busy C-suite members and in-house counsel who are looking for highly relevant, actionable content. Yet, despite the many online analytics and keyword research tools available to marketers, a lack of relevance remains the top reason why content fizzles with decision-makers.

With a nearly limitless virtual audience, create specific and tailored content personalized for the decision-makers you want to reach, rather than trying to compete with the noise in a crowded online environment.

Case Study: Greentarget worked with RBC Global Asset Management to take advantage of online distribution and engagement platforms for its Responsible Investing Survey. The campaign achieved 131 million impressions, with 5,500 views for the report; 3,500 views for the firm’s global responsible investment site, microsite, and ESG videos; and over 225,000 impressions and 2,000 click-throughs on paid and organic LinkedIn and Twitter posts.

The Need for Guidance in an Uncertain World

C-suite members and in-house counsel are also looking for more actionable guidance from law firms and professional service providers on the specific issues facing their business in this volatile period—particularly cybersecurity and diversity, equity, and inclusion (DEI). Fast-moving developments and rapidly evolving standards in these areas means that leaders need the most up to date and informed guidance.

Most of all, leaders want content with utility that explains what they should do with new information. But they also want content that’s “in-depth” and “technical,” offering granular analysis and expert recommendations that can help inform their operational decisions and outlook.

Case Study: Recognizing the growing importance of ESG to corporate decision-making, Greentarget helped Fenwick create a biotech-specific research report on how ESG reporting was affecting the industry. One Fenwick partner described the findings as “invaluable” to biotech clients, who had long sought this type of data on governance issues.

Communications in 2022 and Beyond

We found that executive decision-makers are increasingly looking to content from thought leaders to guide them—but not just anything will do. Marketing and communications professionals crafting strategies amid rapid-fire change need to understand how the past few years have shaped information trends, upended distribution channels, and altered preferences for both C-suite members and in-house counsel.

Check out the full 2022 State of Digital and Content Marketing report for more and stay tuned for our State of DEI report coming December 2022.

Still have questions, or are unsure how to break through to your target audience? We’re here to help.

by

If you’re an executive leader whose organization is facing a current or potential lawsuit, it’s important to consider a very important question. How do you manage the tension between protecting your firm from liability and mitigating a hit to your reputation? 

Navigating a litigious event is daunting — and there’s plenty to worry about just preparing for the legal battle that lies ahead. On top of that, a lawsuit can also pose a significant threat to your firm’s public image. And since even the perception of guilt can cause you to suffer losses in valuation and revenue, the reputational risk that accompanies litigation can ultimately cause more harm to your business than the litigation itself. 

Complicating this further, your legal team will tell you to keep quiet and avoid saying anything that could damage you in court. But your PR firm should insist that it’s crucial to get ahead of negative blowback and proactively communicate with your audience. 

Here’s why you should avoid adopting an overly conservative response — and five strategies to communicate effectively in the midst of a legal crisis.

Why You Need an Effective Comms Strategy When Facing Litigation 

Whether your firm is innocent or guilty from a legal perspective, staying silent in response to an attack on your firm’s image is not a good option. Why? In the absence of an official statement from you, your audience is much more likely to accept someone else’s narrative — or create one of their own. 

Academic research bears this out. According to William Benoit’s Image Restoration Theory, “The important point is not whether the business is in fact responsible for [an] offensive act, but whether the firm is thought to be responsible by the relevant audience” (emphasis added).

More simply put, perception is reality. So even if (or perhaps particularly if) you’ve done nothing wrong, it’s essential to communicate your side of the story to your audience. 

How Good PR Enabled a Healthcare Company to Gain Market Share

I saw the importance of managing the narrative around litigation first-hand when I represented a healthcare company that had recently acquired a new technology. When they attempted to break into their competitor’s market, the competitor promptly sued them for patent infringement in several countries.

Initially, my client’s IP lawyer persuaded them to stay silent. But the competitor was relentless, releasing well-crafted statements after every milestone decision in court. It spun every decision in its favor. As a result, my client’s sales team encountered significant resistance in the field. 

Further, the client was a publicly traded company, and its stock prices came under pressure as the competition persisted with its full-court press.

The tide turned when the client’s executive leader stepped in. He understood that even if his organization won the legal battle, it could still lose in the court of public opinion. That meant their business’s very viability was on the line — and he knew it was important to speak out.

So we set out to beat the competitor at its own game. We collaborated closely with the client’s legal team to create scenario plans for every lawsuit in each of the several countries where active litigation was underway. We charted out every possible outcome for each milestone in every jurisdiction. We drafted a press release for every outcome that would relay our point-of-view into the marketplace as soon as each milestone was achieved. 

This proactive, well-timed strategy enabled the client to maintain its customer base and eventually preserve the market share it had taken from its competitor. Thanks to executive leadership who understood the need to balance legal and reputation risk, the comms and legal teams were able to work collaboratively. Together, they addressed the compelling issues facing the company beyond the courtroom. 

5 Steps to Manage Your Firm’s Reputation During Litigation

Protecting or restoring your firm’s image as a result of litigation will take a serious concerted effort on the part of your internal team. And though a partner like Greentarget can do much of the heavy lifting to facilitate this process, your Executive Committee members, legal counsel, and other influential figures will need to come together to craft your PR response.

This will require you to take five crucial steps.

1. Conduct Scenario Planning to Plot Likely Outcomes

High-profile, complex litigation can last for months, if not years. Therefore, as we saw in the example above, one of the most important things you can do is put strategies in place to minimize the impact of ongoing negative press.

To think through every likely scenario, ask questions like:

  • What are all the possible outcomes we may need to address?
  • How severe is the reputational threat of each outcome?
  • How could each scenario potentially unfold?
  • How should we respond to each scenario?

Finally, you’ll need to gather any data or supporting information required to inform the appropriate course of action in response to each scenario.

2. Prioritize Your Audiences

The details of your litigation may not affect — or even interest — every segment within your audience. Knowing exactly who you’re talking to is crucial in getting the right message across at the right time. Therefore, it’s important to tailor your response to the audience members who truly need to hear it.

Consider:

  • What audiences have the potential to be impacted?
  • Which audiences will be most affected?
  • What is the chain of influence within the audience environment?
  • How large is the gap between current and desired perceptions within each audience segment?

Then, develop concise, quotable, factual messages based on each audience’s needs. Use supporting details, analogies, metaphors, and other storytelling devices to capture their attention and foster empathy for your message.

3. Determine Which Communication Platforms to Use

Good communication plans are customized based on your audience’s needs. In the same way, it’s important to deliver your message using the mechanisms they are familiar with or accustomed to. 

For example, you might choose to email your current clients because that’s how you normally communicate with them. Employees might expect to hear from you in an interactive town hall setting. But your investors or other key stakeholders might need to meet with you one-on-one.

Managing your firm’s reputation is too important to simply issue a one-size-fits-all message using your largest platform. Personalization is the name of the game. 

4. Identify and Prepare Appropriate Spokespeople to Deliver the Message

It’s also important to consider who should communicate your message to each segment of your audience. As an executive leader, you might be the best person to talk to the media or communicate with your board or other influential stakeholders. But there may be other spokespeople in your organization who would be more effective at reaching certain audiences.

No matter who you choose to speak on your organization’s behalf, make sure they are prepared to master high-pressure environments. Greentarget can provide coaching to ensure each spokesperson knows how to:

  • Deliver key takeaways first
  • Distill important points into memorable soundbites
  • Block unwanted questions and maneuver the conversation back to your desired talking points
  • Stay calm and poised when fielding difficult questions

Just remember: Your choice of spokesperson is also a message. Carefully think through how each audience segment will feel about hearing your message from your chosen representative.

5. Put a Rapid Response Team in Place to Fill In Any Gaps 

There are natural news events built into any litigation (e.g. filing of the complaint; subsequent motions; the verdict). In the scenario planning phase, you created a planned response for each one. 

Still, unforeseen situations are bound to arise. And when they do, it’s vital to have a team in place that’s equipped to respond quickly.

Your rapid response team should actively listen and monitor the situation at all times. By having an ear to the ground, you can stay ahead of any curve balls potentially coming your way.

Bring PR and Legal Counsel Together When Facing Litigation

Although PR and legal counsel approach the challenges of litigation from opposite sides, they ultimately want the same thing: to protect your firm from harm. Since lawsuits typically stem from — or result in — a reputational crisis, your PR strategy and your legal strategy must be linked.

Staying silent in the midst of a crisis is rarely the best option, but you also don’t want to say the wrong thing. To that end, crafting an effective communications strategy in response to high-profile litigation undoubtedly requires expert guidance and support.

That’s why it’s essential to surround yourself with experts who’ve navigated these challenging circumstances before. Greentarget has helped numerous clients direct a smarter conversation throughout the course of litigation. We’d love to help you, too. Just reach out.

by

As premiums rise and the economy slows, producers with sales responsibilities at commercial insurance companies face an uphill battle to acquire and retain high-value clients. Increasingly, these rainmakers are navigating difficult conversations and answering challenging questions from concerned business leaders whose insurance costs have skyrocketed in recent months.

To overcome these hurdles, producers may need something different from their corporate marketing teams – an approach that goes beyond marketing collateral promoting the latest product. Based on the informal conversations we’ve had with producers across a wide segment of the market, what they really need is help communicating with clients in a clear, transparent, and person-centered way. 

This likely requires you as a communications director to move away from business as usual and into uncharted — and admittedly uncomfortable — terrain. In order to meet your internal and external stakeholders where they are, you should consider adapting your marketing and communication strategies in several key ways. 

1. Shift the Focus from Your Products to Your Customers

Your prospects and existing clients don’t want to be sold to — especially in economically turbulent times. They want guidance and support from trusted providers, advisors, and authorities. For your company to have a fighting chance at filling this elevated role, you’ll need to get inside your clients’ heads and understand what makes them tick. 

Conduct Market Research to Understand Clients’ Insurance Needs

Clients trust people with whom they have a relationship. And the key to building strong relationships often comes down to listening more and talking (or, in this case, marketing) less.

It can be hard to resist the temptation to center your communications strategies around billing cycles, renewal periods, and new product offerings. After all, these are the milestones that can drive topline revenue growth. But this approach results in messaging that is transactional, not relational.

That’s why it’s so important for you to make an intentional shift and help your producers connect with current and prospective clients on a deeper level. Conducting “voice of the client research” is one way to gain insight into your audience’s perspectives and craft communications that speak directly to their needs. This type of research enables you to understand:

  • The specific pain points clients and prospects are experiencing 
  • Risks and opportunities their businesses face as a result of current economic conditions
  • Questions customers have about their current policies (e.g. pricing; coverage)

Producers only know the clients and prospects in their own portfolios. But as a marketer, you have a bird’s-eye view of your industry — and access to your company’s clientele as a whole. Use that access to create person-centered communications that drive your business relationships forward.

Tap Into the Emotions that Drive B2B Decision Making  

As much as we like to think of ourselves as rational, practical creatures, human beings remain emotionally driven. This is particularly true in B2B settings when the stakes are high and important decisions are made in groups. 

The dry, highly technical, and jargon-rich language of insurance policies may belie this fact, but insurance is also an inherently emotional product. Risk aversion, fear, and the desire to protect against the unknown are powerful driving forces. To that end, your company doesn’t just sell policies — it plays a unique role in managing and reducing the concerns that keep your clients up at night. This isn’t about fear-mongering. It’s about acknowledging and validating your clients’ very real needs.

Yes, your company continues to develop innovative and relevant products in D&O, cybersecurity, and other areas — and you want to sell them. But rather than explicitly pushing these products, you need to connect the dots in an empathetic and human-centered way. Doing so enables you to position your company as the solution to your clients’ larger problems.

Demonstrating empathy and meeting your audience’s emotional needs are powerful ways to build trust and cultivate loyalty. This, in turn, plays a key role in enabling producers to retain clients during difficult economic times.

2. Be Transparent About Premium Hikes and Changes in Coverage

Difficult economic times lead many of us to tighten our belts and eliminate unnecessary expenditures. Your clients are no different. When their profit margins shrink, you can be sure they will scrutinize every possible expense to identify potential areas to cut. 

To prove your continued value to clients, you’ll need to consider getting radically transparent about everything from pricing to profits. 

This is typically where many marketing leaders start to get uncomfortable. But transparency leads to empathy, and right now you need your clients to feel some empathy for your company. This means proactively helping your producers explain the “why” behind the difficult decisions your organization has to make. 

For example, you might:

  • Outline the reasons why health insurance premiums have risen dramatically as a result of the pandemic. If you had to dip into your claim reserves at an unsustainable rate due to higher-than-normal payouts, be open about that.
  • Explain the impact of climate change on various insurance needs. If you had to raise premiums or cease coverage altogether for businesses that operate in wildfire-prone states, communicate your rationale.
  • Show your recent profits and losses compared to previous years. After all, your company can’t keep its promises to clients unless you make wise, fiscally responsible decisions. 

Again, this may feel deeply uncomfortable. If it does, it usually means you’re doing it right. 

Just remember: being transparent about your challenges and your decision-making process inspires confidence. It shows you’re able to make the hard decisions required to weather the storm. 

3. Tailor Collateral to Meet Producers’ Needs By Inviting Their Feedback

Shifting long-held corporate communication tactics can be challenging. And to make sure you hit the right mark, it’s crucial to craft your approach with your producers’ needs firmly in mind. 

To that end, even before you begin surveying clients or developing transparent talking points, take time to ask producers how you can best serve them.

Explore questions like:

  • How have your clients’ priorities shifted in these economic times?
  • What complaints and concerns have you heard from current customers?
  • Are you receiving more objections than usual from prospective clients? What is the nature of the objections you’re hearing?
  • What types of communications would be most helpful to you right now?

Rather than developing a one-size-fits-all strategy, engage producers directly so you can create customized resources and personalized messaging that speak to their clients’ pain points.

Address Insurance Industry Challenges Head-On

As industry pressures intensify, you can’t afford to stay the course and continue to communicate using the same strategies you’ve used in the past. To move your insurance company beyond a vendor orientation and into a trusted advisor role, you need to embrace a new way of doing business.

Focus on your clients, not your products. Embrace the human side of your industry. And be transparent about the pressures your company is facing. Then, arm your producers with the marketing resources that will help them strengthen and maintain the relationships that directly impact your company’s bottom line.

Close
Close