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Representing NAIFA

Representing NAIFA. Sheila Owens Vice President, Communications and Marketing sowens@naifa.org Representing NAIFA 703-770-8112 (O) 703-717-8119 (M). PR 2.0. Today’s topics: Reaching your audience in a fragmented media market The PR challenges and opportunities of social media.

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Representing NAIFA

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  1. Representing NAIFA Sheila Owens Vice President, Communications and Marketing sowens@naifa.org Representing NAIFA 703-770-8112 (O) 703-717-8119 (M)

  2. PR 2.0 Today’s topics: • Reaching your audience in a fragmented media market • The PR challenges and opportunities of social media

  3. The Media Landscape:Back Then Newspapers were dominant source for news • 1960s-1980s: 70-80% of adults read a newspaper* • 1960s there were more than 1,760 daily papers • 1,400 were evening papers; 300 were morning papers *Scarborough Research

  4. The Media Landscape:Back Then • Television was the ‘new media’ • By the 1980s, television news ruled as primary source of news for consumers • 55 million Americans were loyal nightly viewers

  5. Back then:Primary tools for PR pros • Press releases were faxed • Newsletters were mailed • PR practitioners placed stories in newspapers, magazines, TV & Radio (earned media) • Companies placed advertisements (paid media) • Little if any ‘niche’ media to reach out to targeted audiences

  6. Back then: One-waycommunications Paid Media: Advertising Earned Media: Story placements

  7. Media Landscape Now:Broadcast, Print Audiences Declining Average readership for local newspapers in the top ten U.S. media markets % Readership Among Adults 54.5 53.9 52.5 51.4 50.1 48.7 47.2 45.3 40.5 17% readership loss 2001 – 2008 10.6% in 2009 38% in 2010? Average ratings for local evening newscasts in the top ten U.S. media markets Average Rating (A35+) Late evening news: -43% 21.3 18.7 18.8 17.9 17.4 13.1 12.1 19.2 17.5 16.3 15.7 14.0 11.2 9.9 Early evening news: -48%

  8. The Media landscape: Now • 24/7 news cycle • Nearly 80% of adult population uses the Internet • Multiple emerging media resources – not just mainstream news sources (niche media, blogs, Web sites, YouTube, Google, Yahoo) • Consumer access to content anytime, anywhere

  9. The Bad News The Media Landscape is Cluttered!

  10. The Bad News • Multiple media choices compete for consumers’ attention = a fragmented audience • Greater challenges to get your message across to fragmented audience • How do you know where to go to get your message across?

  11. The Good News • With more sources, greater opportunities to get your message across • Digital services allow for targeted content creation with little or no technical knowledge • Consumers are creating engaging, relevant content that you can find, interact with • Opportunities to repurpose your own content for multiple media platforms – meet your audience in their space

  12. The Good News: Everyone’s Talking • Communications is full circle: 360 Communications “Socialized media is empowering us not only to consume content but also to create it. This is the era of new influencers and we become media and earn authority based on the content we share and also how and where we participate.” – Brian Solis, The Conversation Prism

  13. PR 2.0: Enter Socialized Media Is Social Media a Fad?

  14. What is Social Media? • Social media are online communications in which individuals shift fluidly and flexibly between the role of audience and author. To do this, they use social software that enables anyone to post, comment or share to form communities around shared interests.

  15. Why Social Media? • Social media are here to stay. Through these communications channels, your colleagues, public officials, opinion leaders, news media and others are behaving differently – meeting in virtual communities, sharing content and spreading voice and influence online.

  16. Why ShouldYou Interact? • The Internet is a breeding ground for lively discussions that can catapult one company (or a company’s policy or issue) over another. Participation in virtual communities will help position your company and experts as thought leaders in their field while crafting messages in a way that influences their online audience in a positive manner.

  17. Social Media Sites Are Growing At A Rapid Rate Twitter Launched in 2006 Facebook Launched in 2004 Unique Visitors (Millions) Unique Visitors (Millions) +92.9% +78% Trailing 24 months Trailing 24 months Linked In Launched in 2003 YouTube Launched in 2005 Unique Visitors (Millions) Unique Visitors (Millions) +55.4% +31.1% Trailing 24 months Trailing 24 months

  18. The Social MediaLandscape • Facebook has more than 300 million users • LinkedIn passed 50 million global users • YouTube streamed more than 10 billion online videos in just one month

  19. Acceleration of Communications Change Technological Change Requires Rapid Adaptation 100 80 60 Years to Reach 150M Users 40 20 0 Telephone (1876) Television (1928) Cell Phone (1983) iPod (2001) Facebook (2004)

  20. Why Join the Conversation? • You need to know who is talking, who is listening • What are they saying? • What are you saying in response? • How are you controlling the message?

  21. Join the Conversation • Monitor blogs, post responses • Follow them on Twitter, tweet yourself • Read their Facebook pages, engage

  22. NAIFA: Getting Our Feet Wet

  23. NAIFA: Getting Our Feet Wet

  24. NAIFA Social Media Tools

  25. NAIFASocial Media Tools • NAIFA Facebook has nearly 800 fans • 28% more likely than non-fans to continue using a brand • 41% more likely than non-fans to recommend a fanned product to their friends

  26. NAIFA Social Media Tools

  27. You’ve got the Tools:Now what? • Define your Social Media Strategy • Why are you in social media? • With whom do you want to engage? • How will you measure success?

  28. NAIFASocial Media Strategy NAIFA Goals & Objectives for Social Media • To build Community. • To promote NAIFA positions, products and people • To reach, respond to news media • To tell the “agent story” • To drive traffic to NAIFA Web site. Measure progress through qualitative responses

  29. Examples of howNAIFA uses Social Media • To correct misperceptions • To interact in a less formal way • To build community • To empower your community to speak for you • To reach the news media

  30. How does NAIFA use Social Media? To correct misperceptions • NAIFAblog.com tells the agent’s story – • Example: Trade story focuses on just a few members who support fiduciary duty • Story ignored the 70% of comments on SEC site that opposed fiduciary duty standard of care • NAIFA wrote blog to include the facts; sent to reporters and other bloggers to get our message out

  31. How does NAIFA use Social Media? To respond informally • News story conveys negative perceptions of industry (not necessarily inaccurate) • Story does not warrant a formal statement from organization • NAIFA writes response that takes issue with the story, clarifies and tells the agent’s side • Post response on blog, Facebook and tweet response

  32. How does NAIFA use Social Media? To Build Community • Show LinkedIn page – member posting comment

  33. How does NAIFA use Social Media? To empower community to speak for you • Engage in conversations with other bloggers that support your positions and policies • Provides powerful third-party support • Link to their blogs, pass them around

  34. How does NAIFA use Social Media? To reach out to the news media • Follow reporters on Twitter • Ask reporters to follow you on Twitter • Look for reporters’ questions, requests for interviews on Twitter • Tweet, re-tweet reporters’ stories that support your positions • Post links to your press releases on Twitter, Facebook • Respond to reporters

  35. How to Begin? • Once you build your pages, tell people where to find you • Promote with press release about your new sites • Include links to your sites in your e-mail signatures • Post icons/links from your own Web site • Interact, interact, interact

  36. Three thingsI’ve learned • People are talking about our products – Listen! • Allow your site to have a personality • Once you’re in, you’re in • Be authentic • Don’t spam

  37. Social Media & Financial Professionals • 44% of advisors use social media for business • 75% have an account on Facebook or LinkedIn • Top three uses: prospects, monitoring industry/market news, reading expert commentary • 40% optimistic social media will help grow their business • 47% concerned with compliance issues *American Century Investments survey

  38. Social Media & Financial Professionals • Advice for Advisors: Make sure your posts are done within the requirements of your corporate and regulatory guidelines. • FINRA Regulatory Notice 10-06 • “Guidance on Blogs and Social Networking Web Sites” • Americans are increasingly using social media Web sites, such as blogs and social networking sites, for business and personal communications. Firms have asked FINRA staff how the FINRA rules governing communications with the public apply to social media sites that are sponsored by a firm or its registered representatives. This Notice provides guidance to firms regarding these issues.

  39. Social Media& Financial Professionals There are companies that specialize in helping regulated firms with compliant social media policies and practices. Socialware – www.socialware.com Arkovi – www.arkovi.com

  40. Social Media: It’s not all that • Social media is part of an overall communications strategy; it’s not a standalone tool • PR 1.0 should be incorporated While there’s no question social media is here to stay, so is the value of face-to-face communications

  41. Media Convergence • The lines of journalism are blurring • Columnists and bloggers are now local news sources and not just opinion providers • News reporteres are now opinion providers • Fewer subject matter experts in the newsroom • Citizen journalists: Anyone who can blog or text can publish a story

  42. How to help the reporter • Appreciate the role and need of the journalist – they are under increasing demands to file and file immediately • Provide information in multiple media platforms for their Web site, blog, YouTube video, podcast • Understand their audience • Reach out to new reporters on the beat; provide industry briefings, fact sheets

  43. Tell Your Story: What’s your story? • New products, trends, data • Industry expertise on timely issues • Local legislative developments affecting the industry – tell what it means to businesses consumers in your community

  44. PR 2.0: Bottom Line • In spite of the multitude of channels and technologies available, it’s still critical to develop personal relationships with reporters to enhance your industry and products. At the same time, we need to understand the non-traditional journalists – they can be as influential as the evening news once was.

  45. Thank You! Sheila Owens Vice President, Communications & Marketing NAIFA 703.770-8112 (o) 703.717.8119 (m) sowens@naifa.org

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