ADV 310 Intro to PR Week 4 Notes
ADV 310 Intro to PR Week 4 Notes Adv 310
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This 4 page Class Notes was uploaded by natalie stephan on Friday September 16, 2016. The Class Notes belongs to Adv 310 at University of Illinois at Urbana-Champaign taught by Mike Yao in Fall 2016. Since its upload, it has received 11 views.
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Date Created: 09/16/16
ADV 310 Week 4 From last week (3) Sponsored Content Sponsored blogs o Web content (website, social media, etc.) sponsored by organization or individual that report the “news” Kim K Instagram posts Not an ad Online newsroom Why online newsroom? o Virtually space online where company can provide info for journalists, bloggers, interested parties o Content created/controlled by organization but presented in “news’ format o Its not the type of media, its where you put it that makes it owned, earned, etc. o Allows company to shape convo online, influence search results o Owned media has low credibility, make the website look credible o Best for large company Owned “journalism” websites A step beyond online newsrooms: o Websites owned or sponsored by organization From textbook Media catching o Refers to the process of PR practioners responding to stated needs of journalist Help a reporter out (HARO) ProfNet--- both match expert with journalist 9/12/16 What do PR professionals do?-Community Relations Community Relations: activities designed to improve/enhance relationships in the community Why? Self- Interest of organization o Improve perception of organization o Can reduce/prevent community opposition o Increase employee satisfaction and retention Increase emphasis on being a good neighbors Classic community relations o Sponsored events, teams, youth organizations o Community service o Tutoring and mentoring programs o Employee giving programs o Tours of facilities Social Media Engagement with the Community “Virtual Tribes”: Online communities are important in community relations o Building, growing, and maintaining a virtual community can be tricky Requires a lot of attention Fickle and needy as compared with offline communities o But worthwhile when done right Can mobilize a large community to lend their voice to the corporation when needed opinions Gives a softer touch to community relations 9/14/16 Corporate Social Responsibility (CSR) Refers to a business practice that involves participating in initiatives that benefit society o It is a corporate commitment to behave ethically and contribute ti economic development while improving quality of life of employees as well as the local community at large o Not just doing it for the PR o Direct response to the idea that American companies don’t care about social issues Can encompass a wide variety of tactics from giving nonprofit organizations a portion of a company’s proceeds to giving products away o Common CRS efforts: Environment Philanthropy Ethical labor practices The problem of CSR Genuine effort form of advertising? Is it credible? Done the right way, Good Done wrong, can hurt your company What do PR pros. Do? - Consumer Relations Q: what happens after the consumer makes a purchase? o Use it, like it or don’t, Don’t like it: tell people, online reviews Like it: use it again Post purchasing: o Consumer relations: systematics efforts by company or organizations to maintain positive relationships with current customers o Hot job growth area: Consumer relations management (CRM) Q: why is CRM so important: o Effect of word of mouth o Cost advantage of customer retention 5-7 times more to get a new customer than to retain one o Easier to sell to existing customers than to new customers 16 times more likely to buy when you have an existing relationship CRM is not PR It’s under marketing or management 9/16/16 Note from last lecture Consumer relations: systematic efforts by company or organizational to maintain positive relationships with current customers Hot Job Growth: CRM o Practices, strategies, and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customer, assisting in customer retention and driving sales growth Consumer relations Bottom line: o Consumer relations helps the company What do PR professionals do? Financial PR and investor relations Financial public relations: actions designed to build and maintain positive relationships with the financial community and relevant government agencies but also to create and maintain investor confidence Deal with several publics: Investors Financial news media The government regulatory agencies Financial media Print and broadcast business media who focus on business Financial analysts People and organizations that analyze stocks, companies and offer investment advice Government agencies Securities Ex. The impact of SEC on financial PR Mission of SEC o Protect investors, maintain fair, orderly, and efficient markets and facilitate capital formations Similar to FTC: want public to know o SEC has ruled: Any material change in a publicly owned company financial condition must be made public immediately(usually involve a team of lawyers, accountants and financial PR professionals) Financial PR: the career Dealing with financial media, investors and analysts Prepare financial reports o Annual report o Quarterly report o Current (form 8k) o Note: working with accounting, legal) Plan for, execute annual meeting with shareholders o Prepare CEO or other presenters for questions, potential conflicts o Notify investors, financial press Organizing PR events o Road shows Important in textbook The Sarbanes-Oxley act of 2002 and its impact on PR
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