Good Reasons for PR
Today we’ll revisit a topic I brought up a few weeks ago, “fluff press releases”. I’ve received a few emails that lead me to believe my previous post was misunderstood. This blog is to serve as increased clarity on my position of PR strategy.
There are different audiences for different types of press releases. They will seldom all agree on what news is good news, simply because each group benefits from different types of news. Here are my “good reasons” for PR:
To inform the media (television, print, radio, blog) of exciting advancements in the company.
In my opinion, this is the single most important reason for PR, hence the term press release. It is to give individuals in the media a reason to write a compelling story. As you might imagine, this should lead to media picking up the story and writing articles. Rarely though does this occur with a single press release — hence the term, PR strategy. Media individuals are very busy and looking for the best stories. Their reputation is based upon the stories they write. Therefore, they perform their own level of due diligence before considering a story. This investigation can often include a review of company history, which is often accessible as the collection of its previous press releases. Thusly, it is important to have a history of information for media to review.
To inform the customers of exciting advancements in the company.Typically the information feed goes from company -> media -> customer, however in today’s Internet age of “immediately relevant information” some customers like to know right away. Earlier adopters are often excited to learn about new features and company advancements. As a company within a highly political industry, there are also MMJ advocates who enjoy being the first to know new information.
To inform shareholders of exciting advancements in the company.
PR is also a great mechanism to inform current shareholders of new company changes and to inform new investors of a company’s direction. This is in addition to required public company disclosures. This establishes a credible history of progress, while also providing valuable insight.
Everything is a balance.
For example, take this press release:
BG Medical Technologies Issues Shareholder Update
This PR obviously presents information relative to shareholders. However, it bears little value to media other than historical research.
Now look at this press release:
Medical Marijuana Laboratory BudGenius Announces Free Online Medication Menu for Dispensaries
This holds little (at face value) to shareholders. Yet, this continues to be our most popular conversation for incoming emails, has earned us new traffic channels, media interest, and several new clients.
Simply, there are different updates for different purposes. All are relevant to company growth and how BGMT is building value over time. BGMT continues to stand behind my accord of a “no fluff” policy as each continued press release provides insight and value to media, shareholders, and/or customers.