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Trick or Treat: Not all media attention is created equal
By Alana Schofield - Kohl
In the spirit of Halloween, I'd like to make an analogy about working with the media to generate publicity: it can be either a trick or a treat. For instance, on All Hallow's Eve, you may encounter good witches with good intentions and, in this example, these are the reporters and journalists whose intentions are to inform and educate their faithful audiences with valuable information. But, with all things good comes the bad, and you should also be aware of the wicked witches of the media world. Oftentimes, these media representatives will be disguised as "good," and during your excitement of accepting their interview invitation, they are plotting to use what you know and do to further their own wicked agenda. Unfortunately, those in disguise only reveal their true intentions when it's too late and the damage is done. Understanding the good versus the bad, and knowing how to pin-point, avoid and be equipped with the tools to overcome their plot, will ensure your angel-like reputation remains untarnished.
A few years ago, I received a call from an L.A. Times reporter looking for a financial expert to interview. The L.A. Times, a top-five newspaper in the country by circulation, would typically be a great platform for highlighting one of my advisor clients and their financial know-how. Those who specialize in PR would go out of their way to make sure this interview happened; but not this day, not in our industry. Knowing the sensitivity of financial stories, I was a bit leery as to whether this was a trick or a treat, as the phone call was unsolicited, and the reporter was very general in his query. Rather than immediately fulfilling his request, I asked a few "probing" questions. The conversation with Mr. Reporter (MR) unfolded somewhat like this:
Alana Schofield: "Thank you for calling, Mr. Reporter. In order to help you find the most appropriate expert, what specifically are you looking to cover on personal finance?"
Mr. Reporter: "Fixed annuities."
AS: "And what type of expert are you looking for, a company representative, marketing organization, or an advisor?"
MR: "Someone that sells the insurance products to retirees."
AS: "I see. As you know, fixed annuities are a relatively general topic, so is there anything more specific you would like to speak with an advisor about?"
MR: "The length of the contract period."
Red flag. I simply thanked the reporter for his inquiry, asked him when his deadline was, and told him I would get back in touch with him soon. Of course, it would not benefit a financial service professional to be highlighted in a one-sided, potentially negative story about a product they represent. Contract lengths of annuities vary, as do clients' needs; however, the reporter was not interested in this information. This story was obviously skewed and would have been a "trick" with a lasting impact. Later, I simply let the reporter know that I was unable to find an expert in time to meet his deadline.
Understanding the difference between positive and negative story angles is very important when working with the media. Not all PR is created equal; there is a difference in coverage and angles between financial media and community media, both national media and local, and between news media and a one-sided exposé. Don't get tricked into doing something that can have damaging effects on your practice.
How to spot a trick versus a treat
Unsolicited phone calls can be a red flag. If you do not work as a media resource on a regular basis and receive a request for an interview, ask some questions. Although news media covering a financial topic without a financial resource may turn to the phone book for a local advisor's perspective -- thus making the interview opportunity a treat -- be sure to ask what the story will cover, the angle, and what information they want from you. If you are still unsure as to whether or not their intentions are good or bad, ask the reporter when their deadline is and whether they can provide you with questions in advance. If time permits, do a little research on the media outlet, the reporter and previous article topics and tone. Knowing this can help you make an educated decision.
If you are uncomfortable with taking the interview request and moving forward, you should still be gracious when declining their offer. Return the reporter's phone call within a respectful amount of time and let them know that you are unable to be of assistance before their deadline, or that you are not comfortable with the angle or topic requested of you.
If, while you politely turn down the invitation, the reporter should start to ask you questions, under no circumstance should you respond "no comment." Simply restate that you are not the best fit for this story or you have limited time, etc. "No comment" is the antithesis of what you're trying to accomplish. A disgruntled reporter could potentially use this again as a way to further "prove" their theory and angle on the specific subject. For example, "... local advisor Bob Smith responded `no comment' when asked of the contract length of annuities." Keep your composure and stick to your plan.
Now, if the costume of disguise has fooled you and you find yourself in an interview that has shifted from the originally stated direction, don't get nervous or appear flustered, but instead, remain calm and as clearheaded as possible. Unless the interview turns hostile and unprofessional or unwarranted accusations are made, continue on. And, as much as you may want to disappear like a ghost, this is not recommended. Stay in your seat or stay on the phone. Leaving an interview during tough questions will lead others to believe you concede and further promote the media representative's agenda. Additionally, if you are being "caught" for perceived questionable business practices, face the music and use this one opportunity to state your case and explain your reasoning as to why the media's perception of your actions are incorrect.
Use the following guidelines to help guide you through a media interview:
However, a few bad apples and public misperceptions can put the whole bunch in the spotlight and subject them to media scrutiny. Don't be scared to just say no if you are unsure. It takes a long time to build a good image, so don't get tricked into to jeopardizing your reputation by accepting the wrong media interview. Not all PR is good PR and, even though you may not have that extra treat in your bag of candy this time, it's better to be safe than sorry. Remember, just like Halloween, additional media opportunities will come around again.
*For further information, or to contact this author, please leave a comment and your e-mail address in the forum below.
A few years ago, I received a call from an L.A. Times reporter looking for a financial expert to interview. The L.A. Times, a top-five newspaper in the country by circulation, would typically be a great platform for highlighting one of my advisor clients and their financial know-how. Those who specialize in PR would go out of their way to make sure this interview happened; but not this day, not in our industry. Knowing the sensitivity of financial stories, I was a bit leery as to whether this was a trick or a treat, as the phone call was unsolicited, and the reporter was very general in his query. Rather than immediately fulfilling his request, I asked a few "probing" questions. The conversation with Mr. Reporter (MR) unfolded somewhat like this:
Alana Schofield: "Thank you for calling, Mr. Reporter. In order to help you find the most appropriate expert, what specifically are you looking to cover on personal finance?"
Mr. Reporter: "Fixed annuities."
AS: "And what type of expert are you looking for, a company representative, marketing organization, or an advisor?"
MR: "Someone that sells the insurance products to retirees."
AS: "I see. As you know, fixed annuities are a relatively general topic, so is there anything more specific you would like to speak with an advisor about?"
MR: "The length of the contract period."
Red flag. I simply thanked the reporter for his inquiry, asked him when his deadline was, and told him I would get back in touch with him soon. Of course, it would not benefit a financial service professional to be highlighted in a one-sided, potentially negative story about a product they represent. Contract lengths of annuities vary, as do clients' needs; however, the reporter was not interested in this information. This story was obviously skewed and would have been a "trick" with a lasting impact. Later, I simply let the reporter know that I was unable to find an expert in time to meet his deadline.
Understanding the difference between positive and negative story angles is very important when working with the media. Not all PR is created equal; there is a difference in coverage and angles between financial media and community media, both national media and local, and between news media and a one-sided exposé. Don't get tricked into doing something that can have damaging effects on your practice.
How to spot a trick versus a treat
Unsolicited phone calls can be a red flag. If you do not work as a media resource on a regular basis and receive a request for an interview, ask some questions. Although news media covering a financial topic without a financial resource may turn to the phone book for a local advisor's perspective -- thus making the interview opportunity a treat -- be sure to ask what the story will cover, the angle, and what information they want from you. If you are still unsure as to whether or not their intentions are good or bad, ask the reporter when their deadline is and whether they can provide you with questions in advance. If time permits, do a little research on the media outlet, the reporter and previous article topics and tone. Knowing this can help you make an educated decision.
If you are uncomfortable with taking the interview request and moving forward, you should still be gracious when declining their offer. Return the reporter's phone call within a respectful amount of time and let them know that you are unable to be of assistance before their deadline, or that you are not comfortable with the angle or topic requested of you.
If, while you politely turn down the invitation, the reporter should start to ask you questions, under no circumstance should you respond "no comment." Simply restate that you are not the best fit for this story or you have limited time, etc. "No comment" is the antithesis of what you're trying to accomplish. A disgruntled reporter could potentially use this again as a way to further "prove" their theory and angle on the specific subject. For example, "... local advisor Bob Smith responded `no comment' when asked of the contract length of annuities." Keep your composure and stick to your plan.
Now, if the costume of disguise has fooled you and you find yourself in an interview that has shifted from the originally stated direction, don't get nervous or appear flustered, but instead, remain calm and as clearheaded as possible. Unless the interview turns hostile and unprofessional or unwarranted accusations are made, continue on. And, as much as you may want to disappear like a ghost, this is not recommended. Stay in your seat or stay on the phone. Leaving an interview during tough questions will lead others to believe you concede and further promote the media representative's agenda. Additionally, if you are being "caught" for perceived questionable business practices, face the music and use this one opportunity to state your case and explain your reasoning as to why the media's perception of your actions are incorrect.
Use the following guidelines to help guide you through a media interview:
- When in an interview, remember that everything is on the record -- no matter what. This is not a time to talk badly about any aspect of the business, product, person or place. Keep comments strictly on-record. If you don't want something published in the paper or aired by your local TV station, then don't say it.
- Under no circumstances should you insult the media, use derogatory names, or "street language" to insult their profession, interview tactics or even their point of view on the topic. Always be professional. If you're unhappy, communicate this just as you would with a client or other business relationship. No matter how much you want to, do not allow your inner demon to come out during a press interview.
- Prepare yourself for touchy questions, even if you only have a few minutes to do so. Know beforehand what you intend to say about other investments, strategies or competition, for example. Prepare to answer in a way that you can put a positive spin back on what you offer. For example, don't talk badly about the stock market, but explain why it may not be appropriate for certain investors.
- If a question is asked that is a matter of public record, simply admit to it. For example, "Yes, annuities are a long-term investment, but many investors like knowing there money will be there in 10 years when needed." Or, "Yes, annuities have surrender charges, but to the long-term investor, the advantage is..." Admit to the negative, but finish the answer by bringing the topic back to the truthful positive. If it's a TV interview, be sure to repeat the question in your answer, making it more difficult for "out of context" sound bites to be created.
- Don't try to intimidate the reporter, criticize or make bad jokes. Even if you don't know what to say to a comment, keep your cool and take your time (this is especially relevant if you have a tendency to make jokes when nervous). If you don't know the answer, then say so and offer to get back to them with an answer as soon as you can. Avoid becoming defensive in any situation. Take your time and answer all questions honestly. Offer to help later if needed, such as for a fact check, and then be available when they call back for your assistance.
- Stick to your guns. Don't let a reporter manipulate your position on a topic. State your points and try not to get side tracked. If you remain clear and focused in an interview, your answers will come across in the same manner.
However, a few bad apples and public misperceptions can put the whole bunch in the spotlight and subject them to media scrutiny. Don't be scared to just say no if you are unsure. It takes a long time to build a good image, so don't get tricked into to jeopardizing your reputation by accepting the wrong media interview. Not all PR is good PR and, even though you may not have that extra treat in your bag of candy this time, it's better to be safe than sorry. Remember, just like Halloween, additional media opportunities will come around again.
*For further information, or to contact this author, please leave a comment and your e-mail address in the forum below.
