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Marketing leadership

October 5, 2022 by Greentarget

Corporate social responsibility has factored into investment decisions for years, with the integration of environmental, social and governance (ESG) a big part of corporate decision-making for nearly two decades. But the focus on ESG reached a fever pitch in 2021. Indeed, there might not have been a more common three-letter combination in the world’s boardrooms.

That’s why international law firm Fenwick sought to unearth insights about how ESG and a growing cultural emphasis on diversity was affecting biotech companies. Specifically, the firm wanted to conduct first-of-its kind research and provide an analysis of marketplace reporting practices across the sector to create a resource for companies in biotech and beyond about key governance best practices at a critical moment.

Solution

Fenwick enlisted the services of Greentarget, specifically its Research & Market Intelligence and Content & Editorial teams, on a multi-faceted research approach. The first step was a unique review of the publicly available information of the top 50 biotech companies in the United States based on market capitalization. This review, which required nearly 100 hours of research-intensive time, included SEC filings and information on company websites, which was compiled and then summarized for key industry trends and other points of interest.

This in-depth review informed the development of quantitative survey questions designed to elicit insight from key decision-makers, including individuals who held C-suite positions, were heads of ESG or held sustainability and legal roles, as well as investors from hedge funds, investment banks and venture capital firms. A focus of the survey was to gauge sentiment around expectations and challenges regarding ESG, as well as expectations about SEC intervention and a medium-term forecast.

The results were then shared with Fenwick lawyers who represent technology and biotech companies on a variety of corporate governance and transactional matters, including ESG, to gather their analysis of the specific findings. Channelling these insights, Greentarget developed a report around the findings with an emphasis on providing actionable guidance about how companies can prepare and what they should consider when implementing and reporting on ESG.

Results

The final report, “Biotech’s ESG Crossroads,” was released in February 2022, combining what Greentarget found in its initial public review, the survey findings and the expertise of Fenwick’s lawyers. The report detailed how sector executives and investors compare when it comes to ESG’s growing prominence. And it discovered a lack of standard practices around ESG disclosures, that ESG would continue to surge in prominence and that biotech companies were just getting started when it comes to addressing ESG. The report, the first of its kind on this topic for Fenwick, is expected to become an annual offering.

The email campaign developed for the report launch yielded an open rate of 39.2%, with a click-to-open ratio of 5.9%. The report itself garnered 520 unique page views, with readers spending on average of four minutes and 46 seconds on the report page.

Media also took an interest in the data, with notable industry publications like STAT, FierceBiotech, BioCentury and Corporate Secretary covering the findings. Others, like Harvard Law School’s Corporate Governance Blog, republished the report in full.

Since the report’s launch, Fenwick lawyers have presented the data directly to biotech clients, speaking with their nominating and governance committees. One Fenwick partner who helped lead the data analysis told Law.com that companies in the biotech industry had been clamouring for this type of data on governance issues for a while, and being able to provide data that supports her legal counsel has been invaluable to her clients.

The report generated such strong attention that another law firm mentioned it during their own webinar about ESG issues.

August 11, 2022 by Greentarget

Amidst the Great Resignation, companies increasingly face disruption from the mass exodus and acquisition of employees. The departure of public relations and marketing leadership can prove especially difficult, given their handle of your company’s communication strategy – involving both publicity and reputation management.

Though this period of staffing transitions is poised to persist, it doesn’t require the derailment of your company’s marketing and communications plans. Involving your external PR firm during the off/onboarding process is a great way to keep your communications momentum going.

August 10, 2022 by Greentarget

Building on our longstanding partnership with the Berkeley Research Group, a world-renowned consulting firm, Greentarget created and executed a research and market intelligence campaign to assess the global state of M&A disputes across a variety of industries and sectors.

The research report, M&A Disputes Report: A Global Perspective, analyzed the survey responses of 225 lawyers, private equity professionals, and corporate finance advisors.

Key findings from the December 2021 report included:

  1. Most deals deals started during the pandemic had since been completed, and most practices experienced minimal slowdown in volume.
  2. The types of disputes encountered were those expected of a distressed market.
  3. Sector type was a bigger determinant of M&A activity and dispute probability than region or cross-border dynamics.
  4. Respondents had mixed feelings about the effectiveness of MAC/MAE clauses as contractual tools to guard against post-closing disputes.
  5. The increasing frequency of private equity deals had changed the M&A landscape and will continue to impact how disputes arise and are litigated in 2022 and beyond.

The report directly generated a slew of earned media attention for Berkeley Research Group and provided its clients with valuable data.

July 13, 2022 by Pam Munoz

Video is making inroads with the business crowd — including buyers of professional services — as a medium best known for cat videos and TikTok dance trends extends its reach into B2B marketing. With online video increasingly influencing purchase decisions, including it in your marketing plan can reap big dividends, boosting user engagement and providing an opportunity to resurface and spotlight existing content.

After two-plus years on Zoom, in-house counsel and other executive decision makers are warming up to the benefits of visual content, from online meetings and webinars to video clips they can watch quickly and then share to their networks.

And while B2B audiences don’t necessarily prefer videos over other content types, almost half of marketers say interviews with subject matter experts and influencers produce the best video results.  Videos performed better than other types of B2B content assets such as in-person events and long articles or posts over the past 12 months, according to the Content Marketing Institute.

Law firms and professional services organizations are sitting on a trove of written content that can be efficiently transferred into video soundbites to re-ignite conversations and interest in key topics and issues. Video can underscore your firm’s distinct positions of authority and even help you win the war for talent by showcasing your organization’s culture, vision, and values in a way that feels personal and welcoming.

The good news is that video is much easier to do than you might think, and the expectation for quality isn’t high. Clips ranging in length from a few seconds to two minutes don’t cost much to produce, and have a high engagement rate on social media, according to Gartner.

Here’s what you stand to gain by incorporating video into your firm’s communication strategy. 

Videos Help Authorities Build Trust and Establish Credibility

Today’s smart conversations are increasingly shared, promoted, and consumed through video. If you want to position your firm’s authorities as relevant, savvy experts in a digital-first world, video is an important element in your communications toolbox. 

Video mimics the look and feel of in-person communication, offering another way to build trust with your audience. It can also humanize your spokespeople and allow their personalities and style to shine through.

Of course, communicating effectively in any medium requires practice and preparation. For video, your authorities must learn how to:

  • Distill complex topics into 30, 60, or 90 second soundbites
  • Maintain eye contact with the camera to make the audience feel they are being spoken to directly
  • Speak clearly without verbal fillers like “um,” “like,” and “uh”
  • Convey enthusiasm and warmth without sounding overly excitable
  • Reinforce key points using presentation slides or other demo tools

Video Guides Your Audience to Your Thought Leadership Content

Search algorithms tend to favor web pages with video content, so embedding video can also help you attract more visitors to your site via organic search.  Consider video a value-add to your existing content and editorial strategy. It should pull from — and point to — the wealth of useful, authoritative content you’ve amassed. 

Comb through your existing content library and create videos that highlight key points from high-performing assets. Email videos to your audience and promote them via social media channels to drive traffic back to these pieces.

Repurposing key pieces of content using video will spark fresh conversations around salient issues and lead your audience to dive deeper into topics that are pertinent to them. 

Video Elevates Your PR Communications

Video can also be an effective way to make your internal and external communications more engaging. For example, employees and stakeholders, including busy executives who don’t have time to read an in-depth report or whitepaper or engage with a lengthy presentation, can benefit from watching a short video outlining the key takeaways.

Here are some ideas to help you think through video’s PR possibilities.

  • Annual Reports and updates. Have your organization’s leadership share highlights from your annual report and provide regular updates, perhaps on a quarterly or bi-annual basis. 
  • Recruiting. Give prospective employees a sense of your firm’s culture by interviewing members of your team or showcasing unique aspects of your work environment.
  • Partner/new hire introductions. Send clients a short video introducing new members of your team and let them know of any opportunities to meet the team in person.
  • Mergers and acquisitions. Entering into an M&A deal requires thoughtful communication, especially for professional services firms that may have hundreds of partners, shareholders or principals spread across multiple locations. Filming leaders from each firm together can be a powerful way to show a sense of unity and shared vision. 
  • Emotionally charged situations. In difficult situations such as a reputational crisis or a tragic event, consider using video to convey your CEO or firm leader’s authenticity and vulnerability. This can help your audience understand and process your message more readily.
  • Leadership transitions. These scenarios present an “all eyes on you” moment. You’ll need to craft a compelling organizational narrative to communicate effectively with stakeholders and the public during a change of this magnitude. Video can be a powerful way to do so.

 A word to the wise: make sure PR videos are tightly scripted and well-contextualized so there’s no risk of viewers misinterpreting your message now or down the road.

You Don’t Need a Film Crew to Reach Your Audience Through Video

To reach your audience, it’s crucial to communicate with them in the channels and methods they’re most comfortable with. Fortunately, the barrier to entry for creating video has gotten much lower.

Professional services firms often hesitate to add video to their communication strategy because they lack professional equipment. But in today’s world, it’s common for videographers to shoot beautiful, crisp videos using an iPhone, a ring light, and a free video editing app. Modern technology has made it possible for anyone to create engaging, high-quality videos from anywhere. 

So don’t delay. Use video to establish and strengthen your firm’s authority. Repurpose high-value evergreen content. And communicate effectively with internal and external stakeholders about the issues that matter to your firm. 

March 21, 2022 by Greentarget

The ground-breaking nomination of Ketanji Brown Jackson to the U.S. Supreme Court means professional services firms have a lot to consider when it comes to their PR strategy. The key question is whether – and how – to weigh in publicly on an appointment that could have far-reaching business and social implications.

As her Senate confirmation hearings begin this week, Jackson stands on the threshold of one of the most consequential jobs in the country, ruling on issues that are critical to U.S. business, governance and civic life. If confirmed, she would be the first Black woman on the court as well as the first justice to have worked representing poor criminal defendants.

Her nomination comes as the public is increasingly looking to business leaders for guidance and opinions at important moments of civic discourse. Offering a point of view at such times shouldn’t be done without care. But organizations that consider the matter strategically have an opportunity — and in some cases, a responsibility — to express true positions of authority at a key juncture in U.S. history.

Jackson’s nomination isn’t the only high-profile personnel move that might tempt professional service organizations to speak up. We asked Greentarget’s senior leaders about the advice they offer clients who come to us for guidance in these moments, and it starts with a few questions.

Is There a Direct Connection?

The first couple queries are fairly open-and-shut and pertain to the direct connection to the person being nominated or appointee.

Does the nominee/appointee have a personal connection to your organization?

An organization that has such a connection almost certainly has the authority to say something. That might not be the case if, say, a 67-year-old is appointed to a significant position 40 years after working at a law firm as an associate. But if the connection is stronger, putting out a short congratulatory statement that acknowledges the connection is probably a smart play, assuming things didn’t end on bad terms.

Making such a statement is a point of credentialing for an organization, even if it’s not one that will likely generate tons of headlines. Of course, there’s the inverse to this question …

Does your organization have an obvious conflict when it comes to commenting?

This is probably another question without much gray area. The decision to say something publicly might be a simple “no” because there’s a direct conflict – in the case of Jackson, a law firm might be set to argue before the Supreme Court in the next term. That might not automatically rule out saying something, but it could limit what can be safely said. And a milquetoast point-of-view might not be worth the time it takes to work it up.

What if There’s No Direct Connection?

Depending on the answers to the first two questions, some organizations may simply shrug and move on. But there are other important questions to consider before doing so.

Does the position relate directly to a major focus or emphasis of your organization?

Say your organization does a lot of work in securities or finance. It’s likely that your team includes someone – probably multiple someones – with strong perspectives when a new SEC chairman is named. Or, perhaps your organization has expertise on workplace issues. The appointment of a new secretary of labor will probably elicit a reaction or two from members of your team.

Still, making public comments in such moments isn’t a given. It’s important to actually have something to say about the person being nominated – and that what you’re saying is insightful enough for the reward to outweigh any potential risk.

So how do I know if what we have to say is insightful enough?

For either of the above examples, your organization’s subject matter experts might have thoughts on how the new SEC chair or labor secretary might perform, how policy or enforcement might change and, ideally, practical guidance on how companies should adapt. Importantly, subject matter expertise doesn’t have to be confined to the focuses of practice groups within your organization.

In the case of Jackson’s nomination, Littler utilized an existing podcast on inclusion, equity and diversity to post an interview between Cindy-Ann Thomas, the co-chair of the firm’s EEO & Diversity Practice Group, and Bernice Bouie Donald, a federal judge for the U.S. Court of Appeals for the 6th Circuit. Thomas and Donald, both of whom are Black women, discussed the importance of diversity on the Supreme Court, strategies for female jurists of color in managing biases and advice from Donald for other female attorneys of color, among other topics.

Walking the Walk and Talking the Talk

The life and professional experiences of Thomas and Donald meant they had gravitas to comment on Jackson’s nomination. But Littler as an organization also could authentically and effectively weigh in because the firm has addressed similar issues for five years on the podcast (in addition to a variety of other channels). These factors tie directly to the next question on our list.

Is your organization able to speak to that point effectively and authentically, particularly in historic moments?

This was a question that came up a lot over the past couple years as organizations decided whether and how to contribute to the conversation in the wake of George Floyd’s murder and a broader racial reckoning. As my colleague, Steve DiMattia, smartly noted last year, it’s important that public comments in these moments aren’t just words:

The authenticity and credibility of any statement issued to address a fraught moment will not be judged against the values that you claim to profess but by the values you demonstrate through your actions. Values reveal themselves in observable behavior. And an organization that claims to stand for diversity and inclusion, but which has done nothing to advance diversity and inclusion, needs to think carefully about how it participates in the conversation about diversity and inclusion or risk alienating its audience.

The Need(?) to Say Something in the Digital Age

Here’s one more piece to the puzzle: Not only do we live in an era when news can make it around the world in minutes, we live in one in which technology makes it easier than ever to hold organizations’ feet to the fire.

Take what happened during International Women’s Day earlier this month. A slew of organizations posted what were fairly banal comments meant to celebrate the day – and were then quickly skewered by a bot that replied to the original posts with pay gap data about the organizations. The organizations, many of which quickly deleted their original tweets, learned the hard way that it’s never been more important to think through points-of-view before going public with them.

But that shouldn’t keep companies from commenting at all. As my colleagues Pam Munoz and Howell J. Malham Jr., noted last year, “It’s not an option for companies and their leaders to avoid entering into the fray of complex social challenges anymore.”

It could be argued that companies can enter the fray without entering it at every possible moment – and in the case of Jackson’s nomination, the moment might simply not be right based on the criteria outlined above. Indeed, organizations should pick their spots, because an empty/by-the-numbers move will be at best a non-factor.

But smart and incisive commentary, delivered thoughtfully and at the right time, is likely worth the risk, and it can make for a smarter conversation.

February 1, 2022 by Noah Kerwin

In today’s digital-first environment, people are empowered to seek out uniquely meaningful information from an ever-growing pool of sources. Counter to this growth in choice, however, is the declining trust in traditional media channels, with business emerging as the most-trusted institution.

That’s according to Edelman’s 2022 Trust Barometer. For organizations, notably professional service providers, this is an opportunity – maybe even an obligation – to provide answers in times of great uncertainty through owned content channels. To be clear, traditional earned media engagement remains an invaluable tool and likely always will. But increased trust in business means that every research report, blog post, white paper, or podcast demonstrates your firm’s ability to meet the specific needs of your audience, helping them make sense of an increasingly chaotic world.

As such, some of the things that we (along with others in the public relations and content marketing space) have been saying for years about the importance of producing owned content – and producing it well – have never been more salient.

1. Quality, Self-Published Content Establishes Your Firm’s Authority

The experts at your firm know your industry inside and out. They possess valuable insight and experience that benefit your clients every day. And their deep knowledge empowers them to communicate positions of authority that differentiate your firm from the competition.

It can seem counterintuitive to give some of their hard won expertise away for free. But that’s exactly what effective content marketers do. They identify topics and ideas that will resonate with prospective clients and provide useful information to help solve their toughest challenges. This establishes credibility and sparks the prospect’s interest to learn more. 

How Sharing Expertise through Content Generates Business

Here’s a real-life example of how the content marketing dynamic works. I’m an avid runner, and I recently began experiencing hip pain that slowed me down. I turned to Google for answers. My search brought me to an article on the Treadlabs blog that explained how different types of foot arches can influence a runner’s gait. I scoured their site to learn more about what might be causing my issues. After reading several of their in-depth, thoughtful articles, I deduced that my high arches were the culprit. As a result, I purchased insoles from their site. They gained a happy customer, and I found a solution to lessen my pain. 

Although this is a B2C example, the same principle works in the B2B space. Communicating your message directly to your audience in a way that’s useful and informative draws them in and shows them the value of becoming your client.

Your Owned Media Program Must Function Like a Well-Oiled Machine to Be Effective

As you create an owned media/content marketing program at your firm, be aware of the pitfalls that can hinder your progress. For one thing, generating content takes a tremendous amount of time and attention. As such, it’s crucial to think like a publisher. Stay hyper focused on your content plan. Determine what questions your target audience needs answered and set deadlines to publish content regularly. Consistency is the name of the game. 

Additionally, it’s unlikely your subject matter experts have the bandwidth to author their own content without significant support. They have myriad priorities competing for their professional attention. And without a plan, your owned media goals can easily fall to the bottom of their lengthy to-do list. 

As a marketing leader, it will take a concerted effort on your part to draw out your colleagues’ expertise. Furthermore, you will have to think through how to position their ideas in a way that matters to your audience. You may find it necessary to hire an employee to focus on this effort or engage a comms agency to help. 

2. Content Marketing Gives You a Direct Line to Your Target Audience 

Media attention can be a cause for both celebration and concern. Yes, it’s exciting when a journalist picks up your story. But at the same time, you ultimately have no control over how that news outlet communicates your message. They might shorten a quote, leave out salient information, or pick and choose what to focus on based on their own editorial needs. 

Furthermore, it’s difficult to track the effectiveness of these PR efforts. Given the multitude of media outlets available today, there’s no guarantee earned media coverage will reach your target audience at all.

By contrast, a solid content marketing strategy allows you to craft the right narrative using your own brand voice and style. For example, let’s say you want to communicate your firm’s position on a hot button social issue. Owned media allows you to contextualize and fully flesh out your position so that your meaning is crystal clear. 

Using keywords and smart SEO tactics help your audience find the information they’re looking for. But you don’t have to wait for organic search to bring you prospects. Using paid media and social channels, you can share and promote content to attract your target audience. Additionally, because your insights live on your site, you can easily track what prospects read, see how much time they spend on each piece of content, and observe whether they take the next step to subscribe to your emails, fill out your contact form, or request more information. 

3. Owned Media Can Generate More of the Earned Media Coverage You’re Looking For

It won’t happen overnight, but once you’ve established a consistent owned media program, you may find that it generates meaningful earned media coverage, too. Highlighting your firm’s expertise while simultaneously providing useful insights to your audience has the potential to command attention. 

As part of our own content marketing program, Greentarget has written and spoken about fake news and its impact on journalism for the past two years. We’ve conducted and published in-depth research and shared our POV on the topic with our audience in various channels. As a result, MSNBC picked up the story and used it as a basis for further exploration of and conversation around the topic.

We’ve worked with clients to achieve similar results with their owned media programs as well. It takes time and dedication, but the results speak for themselves.

Make Owned Media Part of Your Multi-Faceted Communications Program

Owned media isn’t meant to supplant your other communication efforts. Rather, it should work in tandem with your paid, social, and earned media efforts to function as part of a vibrant ecosystem. You write quality content and promote it via paid and social media channels. Your audience engages with that content by visiting your site and perhaps sharing insights with their own network. And when that happens, you’ve created the right conditions for journalists to use your content to craft compelling earned media stories. 

Do you need guidance thinking through how to tell your firm’s story while highlighting your talent’s expertise? We’d love to help direct conversations that matter as part of your comprehensive media strategy. Let’s talk.


Computer vector graphic created by freepik – www.freepik.com

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