Media monitoring The report usually contains rich information, which can help the company cope with the rapidly changing market and find opportunities and problems at the same time. Unfortunately, these information often lie in the inbox of the public relations and communication departments and are not clicked, and business decision-makers miss some external information sources. So, how can market communicators (whether Party A or agencies) improve their market insights to the level of influencing business decisions?
The biggest problem is relevance. because management layer Basically, they are bombarded by information and meetings. If you see the "FYI" (For your information) in the work email, it basically means "can be ignored". If it is an "urgent" tag, it is about equal to the new "regular work". In this case, it is critical to create a report that is clear and relevant.
The following are suggestions on how the communication team can communicate with other functional departments:
Fully understand what is important internally
As communicators, we understand the influence of the media and the role of media coverage in achieving business results. However, for other business departments, the understanding is often not so clear, so there are many cross departmental frictions. The communicator should not only try to educate and persuade internal colleagues, but also try to understand the company's business model and workflow.
For example, with the expiry of the Production and Innovation Credit (PIC) program, the Productivity Solution Grant (PSG) launched in Singapore's 2018 budget will replace it and provide ready funding for SMEs to support productivity enhancing solutions. If your sales team's products can be funded through government funding, then changing the authorization structure may affect its sales strategy.
Collecting these feedback information also helps to better define the parameters on the media monitoring platform, so that these solutions can obtain more relevant content for your internal target audience, which is why it is critical to build media monitoring reports consistent with business strategies, emphasizing the most important information in the most concise way.
In addition, our challenge is to provide enough data in a balanced way while making the report concise enough to quickly get key information. Each communicator should ask himself a few questions when sharing information internally:
– Is this information useful to people outside the PR department?
– Can we see the overall strategy from the media reports?
– How does this affect other departments? What insights and suggestions for the next step can be extracted from these reports?
– How does the media report highlight the importance of the communication department?
Reverse thinking competitive strategy
The main market activities of an industry competitor will more or less cause some reactions in the media, even if they are not explicitly released. Smart communicators can not only piece together the content reported by the media, but also understand what is "behind the scenes strategy".
For example, if a competitor has announced a memorandum of understanding with a major educational institution and opened an incubator laboratory, they may vigorously promote it in start-ups. Or, if a brand has signed a contract with a star who is not usually the target audience's concern at first sight, and released products for a certain market segment, it may mean that the strategy behind it is to develop in a new direction.
Once the competitor's competitive strategy is inferred, this information can be used by other functions to support and gain competitive advantage.
Carry out the next steps
In order to raise media monitoring to the intelligence level, it needs executable insight. Although most business departments should know something about the next step, public relations communicators can add value to their own departments by adding operable follow-up steps to their reports.
The workplace rules of "Don't bring me problems, please give me solutions" are still tried and tested. Although it is impossible for the public relations and communication team to provide perfect solutions for most problems, the best way we can provide is to help the teams of various departments collaborate to produce solutions.
For example, if a government agency announces a new budget allocation for a smart city, the PR communication team can provide links to various RFPs for this new allocation. If the competitor announces the launch of new products, the public relations communication team can provide the latest product portfolio research report of the competitor's products.
Generally, companies have no problem in data collection, but the main challenge is to select the most important insight fulcrum, and then develop strategies around this point. In this case, presenting information in a standard format is the key to avoiding multiple interpretations of data and reducing the risk of duplication of work. Finally, encourage cross departmental collaboration and streamline processes to combine the strategies of each department with the achievement of organizational goals. Although improving the level of media monitoring requires additional time and effort, working with different departments to transform data into value-added insights may help your company make the next key decision.
This article was originally written by Meltwater. Please indicate the source for reprinting.
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