Investor Relations » Public Relations Firms

The Specialized Public Relations New York Firms Provide Must Utilize Social Media During Times of Crisis

Admin — Wed, 25 Nov 2009 17:16:32 +0000

Just about everybody is buzzing about social media and its implications for the practice of public relations. Not just the specialized public relations New York area firms offer, but in the world at large. While a number of New York-based public relations firms have created practice areas devoted to social media, others have added social media initiatives to existing practices to offer clients a complete arsenal of marketing communications tools. However, the rise of social media has greatly impacted the area of crisis communications and we at Makovsky + Company, a New York public relations and investor relations firm, offer insights into how you can safeguard your company’s reputation in this brave new world.

First, a look at what’s changed from a crisis standpoint since the rise of social media. In years past, when traditional media were the primary delivery vehicle for the dissemination of news and information, a company typically had a little time to implement their crisis communications program. With the advent of social media and the increasingly powerful position it occupies in the in the media world, all of that is changing. Social media is immediate and viral — rumors and news can spread rapidly throughout the Internet via blogs, Twitter, Facebook, and YouTube, informing the traditional media (often, journalists housed at traditional media outlets will maintain blogs that are updated with a degree of frequency).

In addition, the media landscape is also changing. With the well-publicized cutbacks at newspapers and other traditional media, there is a void which is being filled by bloggers, who outnumber traditional journalists by a wide margin. Also growing into the millions are the numbers of Facebook, YouTube and Twitter users.

In essence, this means you — as a practitioner of public relations New York based companies turn to — must be ready to respond instantaneously to protect the reputation of your client’s company and/or products. We offer a checklist on how to utilize social media in your crisis communications planning:

* Monitor — Know the high-authority bloggers who cover your industry and diligently monitor what they are saying about you and your industry. This could serve as an early warning detection system as to emerging issues.

* Identify Allies — While it is always a good idea to keep your enemies close, you should have a good idea of who your company’s potential supporters are within the digital world. These are relationships worth cultivating as they could become “ambassadors” for your company in times of crisis.

* Utilize Social Media — Having an active presence in the realm of social media can assist greatly in building your company’s reputation and marketing its products and can also be utilized to deliver key messages to a variety of constituents during troubled times. Think of this effort as building a reservoir of good will.

* Be Mindful of Disclosure — Corporate disclosure within the SEC’s guidelines is important. All communications via social media should be vetted by legal counsel and, of course, should involve your company’s investor relations department to avoid inadvertent disclosure.

* Update Your Crisis Program — Basically, your crisis communications plan should be updated frequently and, perhaps with greater frequency given the rapidly changing world of social media.

The emergence of social media has forever altered the landscape of the battle. While a crisis once take hours to unfold, companies can now find themselves engulfed in a troubling situation in the time it takes to click a mouse. Makovsky + Company is among the public relations firms to pioneer to use of social media in business-to-business applications. The firm understands the critical importance of integrating online and traditional campaigns to ensure your company’s reputation is protected in the online marketplace. As a result, it has forever changed the practice of public relations New York financial services and healthcare companies expect and rely upon.

By: Kevin Waddel

Financial Services Public Relations in New York: Firms Need to Demonstrate ROI

Admin — Mon, 05 Oct 2009 23:19:11 +0000

Financial services public relations in New York is a highly competitive field. Many firms refer to themselves as experts in the field; however, few have the track record and credentials to justify such a designation.

A leader in this niche space will possess both and rank among the leading financial services public relations firms in New York and beyond. The firm specializes in the development and execution of communications programs for companies in financial and technology industries. The firm’s efforts connect clients with the decision makers and influencers who matter most, helping build recognition and credibility for clients’ companies, products, services and brands through public relations and marketing by reaching such audiences as bank presidents, mortgage professionals, insurance executives, securities traders, or bond buyers. A leading PR firm helps clients build awareness among target audiences—media, opinion leaders, customers, prospects, strategic partners, employees and analysts—to become industry thought leaders.

Unlike many practitioners of financial services public relations in New York, the strongest financial PR agencies have teams of experienced financial services public relations professionals working exclusively in the financial services sector, a number of whom have come from the capital markets. Clients partnering with them will get a team of financial services public relations professionals with an in-depth knowledge of financial services markets, products, services, issues and service providers.

Key to success in Financial Services Public Relations in New York and elsewhere are relationships. Firms have to develop long-standing working relationships with members of the financial services media. Understanding the needs of key editors and reporters is one of the chief ways to ensure that our clients’ information is included in industry publications. With a wealth of experience in the financial services industry, a strong financial services public relations firm will have a vast network of relationships with key individuals and companies that can be leveraged for introductions to potential business partners, consultants, analysts and customers.

A core belief for the firm is the fact that a carefully orchestrated and strategic public relations and market effort leads to top-of-mind awareness for clients’ products and services. Increased media awareness enhances credibility and stimulates sales.

For more information visit to http://www.makovsky.com

By: Kevin Waddel

New York Public Relations Firms Stand to Benefit from Financial Crisis

Admin — Thu, 17 Sep 2009 18:14:05 +0000

The Obama Administration recently announced its recommendations for reforming the financial services industry in the wake of last year’s market meltdown – and public relations professionals in the financial industry took notice. However, it remains to be seen whether the implementation of these reforms will help restore investor trust and confidence in the financial system in general, a system that spans the globe from New York to London to Beijing.

Some of our major financial institutions a la Lehman Bros. have ceased to exist, while others have been forced into shotgun marriages such as Bank of America’s takeover of the iconic Merrill Lynch and JP Morgan Chase’s acquisition of the legendary Bear Stearns. Clearly, the images and brands of our financial institutions have been tarnished along with the trust that consumers placed in them. And, that’s where the kind of specialized public relations New York financial firms need comes in…

A recent white paper from the Council of Public Relations Firms entitled, “Creating Value: Public Relations and the New Brand Strategy” notes “Winning companies are increasingly eschewing advertising and instead deploying social and conventional media/public relations in ways designed to enhance the perceived value they deliver to customers.”

Public relations New York financial institutions are implementing in today’s environment also goes a long way in building trust, and this is absolutely critical as these companies seek to regain the confidence of the American public and burnish their brands given the recent debacles in our financial markets. Those of us in the industry know that while advertising is bought, publicity – be it in the traditional or social media – is earned through the consistent dissemination of factual information by credible companies. The Council’s white paper also states: “…many believe its (advertising’s) constant, repetitive presence actually corrupts the brand experience and erodes value.”

At Makovsky + Company, whose expertise in public relations New York companies have relied upon for 30 years, our financial services practice has received an increasing number of inquiries from prospective clients over the recent past. We are hearing from asset managers, insurance companies, brokerage firms – in short, virtually every type of participant in the financial services industry. Almost universally, their management teams have come to the conclusion that public relations provides an efficient means of customer acquisition and building trust as well brand awareness.

We are not advocating that companies give up on advertising completely as it is still one of the fastest and most efficient means of building brand awareness. However, we are suggesting that managers at companies in all industries examine their public relations activities and ask themselves: Do our customers trust us? Do they believe in our brand promise? Are we reaching the right people? Are the right messages resonating? How are we gauging success? Are we still counting media clips (or worse yet, utilizing the ad equivalency yardsticks)? Are we overlooking opportunities in social media? An honest assessment of a company’s public relations effort may lead to development of new strategies, an enhanced standing for a brand or pave the way for a restoration of trust – for the financial institutions of New York and all over the world.

By: Kevin Waddel