Managing real estate and media relations have a lot in common. Both are most effective when done with the long term in mind and with the help of a professional. Both contain risk – anyone who tells you otherwise is either lying or inexperienced. And there are no guarantees.
In many ways, it’s never been easier to get one’s name in the paper. There are a plethora of Web sites, talk shows and publications, each regularly looking for expert sources. Similarly, it’s never been trickier to find the right outlet, avoid traps and say the things that will position you as an authority and help grow your business.
Before interviewing media-relations pros, decide what your primary objective is. While it’s exciting to see your name in print, it’s important to think beyond that. How do you want your property to be portrayed? What contributions can a comprehensive media-relations strategy make towards helping you achieve your goals?
When it’s time to pick a media-relations firm, consider that a relatively small practice could be well served by a firm of about the same size. Check credentials. Ask for references. Be sure they’re familiar with your industry but not working for a competitor. A firm serving a construction or engineering company may be a good fit. Engage in an in-depth discussion. Ask to see samples of their work and of the “placements” they’ve obtained. Tell them as much as you can about your property and practice. What are your goals are and why do you think media relations can help? Make sure you’re comfortable with the person who will be working on your account, as well as with the fees and schedule. If you’re not prepared to jump into an ongoing arrangement ask about “project work.” Many firms will start new accounts this way and decide later whether a long-term strategy should be pursued. At that point, the firm would be put on retainer by your office and you’d pay a monthly fee – anywhere from $500 to $2,500 depending on the services.
While no one can make guarantees, your media-relations rep should feel confident about being able to get you reasonable coverage in the outlets you desire. They should also be ready to write and distribute releases, prepare a media/information kit, organize a press event and when the time comes, coach you on dealing with reporters. Writing and distributing a press release one time shouldn’t be more than a couple hundred dollars for a local firm. Be sure that “reasonable rewrites” are included and ask whether you’ll be charged every time the writer sits down at his desktop. Ask if they’ll provide telephone follow-up after each release.
Once you’ve selected a media-relations representative, aim to develop as close a working relationship as possible. The more you get to know each other, the more fruitful your partnership will be. Work like a team, meet regularly, be honest and freely exchange ideas. And while you shouldn’t expect a quick return on your investment, after about three months you should be able to gauge if the relationship is working.
Getting Started
A simple way to kick-off a media-relations campaign is with a press release. Usually this is a one- to two-page announcement of a person, product or service your property or business is offering that is sent to appropriate outlets as a possible news item. It is not advertising. Avoid any bombastic or grandiose language, especially when it comes to noting your qualifications. Be sure to address the editor with the correct title and have all names correctly spelled.
Unfortunately, the majority of press releases do not make it into the paper because many of them are sent without significant news or to the wrong editor. A real estate writer is probably not interested in a story without appropriate ramifications. Send enough of these and in a short while editors will be tossing your mail into the round file without opening it. It’s usually the carefully targeted releases that get noticed. This is where the guidance of an experienced pro can help guide you on to the business pages. Here are some basic items that no press release should be without:
• The release date. This lets the editor know when it’s okay to print the information you’ve sent. Most releases use the heading, “For immediate release.” Printed on the top right of the release, this means it is active upon receipt.
• The contact. Editors will sometimes call to double-check information or ask for additional data or a quote. Their job is made easier if they have someone they can directly call. Be sure this person is aware of the release and well-informed on the topic.
• Headline. Don’t be clever or cute. As the saying goes: Just the facts. Don’t use an exclamation mark. They are for ads. Do use words like “new, now, how to, exclusive” and “free” when applicable.
• Body copy. This is the heart and soul of your announcement. It must be direct, well-written and full of information. Here you must answer journalism’s five W’s: who, what, when, where and why. Make it known if photos, charts, graphs or other illustrative material are available.
After describing the featured property or service, be sure to note when it is available, the price and other pertinent data but don’t stray from the topic. Double-check your release before it goes out and don’t forget basics like telephone number, Web site and hours of operation. The release should be double-spaced. If it’s sloppy or lacks basic information, most editors won’t take the time to fix it. It’s popular to send releases via fax and e-mail, but a professionally laid-out announcement on company stationery makes a better impression and usually stands a greater chance of making it into print.
Media Kits
A media kit is very similar to an information packet you may have already created. It generally includes items such as a professional bio of key personnel. They should be one-page descriptions that include education, designations, areas of expertise, special awards and other pertinent data. Personal information is kept to a minimum. It also can pay to include a professionally shot, black-and-white photo of key personnel. Be sure to print your name, telephone number and address on the back of every photo so you can be identified and contacted.
For a company fact-sheet, focus less on individual areas and more on what your property features. List broad and specific characteristic, as well as your company vision. Tapes and copies of any prior media exposure and/or newsletters you circulate should also be inserted. If you have produced a video of your organization, make a note that it’s available to members of the media upon request. A printout of your Web site’s homepage is also useful. Lastly, produce a Rolodex-style card with your basic contact information because it can move your name to the front of an editor’s contact list.
A media kit is generally packaged in a pocket folder. A custom folder can usually be printed by a local shop at minimal cost. If you decide to write the information for your media kit yourself, be sure to have it professionally proofread and copy-edited before printing. Nothing hurts one’s integrity more than typos. Your printer should be able to recommend a proofreader or you can call a local newspaper. Writing, designing, editing and printing a few hundred media kits should cost below $1,000. Include an electronic version of your media kit on your Web site.
While it’s flattering when a writer asks for your professional opinion, it can be a disaster to comment on topics you’re not qualified to discuss. If you’re offering yourself as an expert on one subject, make sure you are qualified to do so. Inaccurate information can damage your reputation and preclude you from future contact.
Say a writer on a tight deadline suddenly calls asking for a comment on an area you’re not fully qualified to discuss, but tempted by the publicity and prestige, decide to take the call. As a fellow professional, the reporter trusts you and your judgment and may not have time to double-check your answers. Your comments appear in the next edition. Readers see it and begin calling in regard to your comment or call the reporter or his/her editor pointing out your error. Each of you now look foolish.
Do not exaggerate, evade questions or give superfluous answers. Make sure you fully understand the question. If you cannot directly answer it, state you’re not comfortable with it and ask to move on. If you know an expert source, give the name to the writer. Say you’re sorry you couldn’t help but ask to be kept in mind when he’s writing something that’s in your area of expertise. Also, if you need to look something up to be able to give a better answer, say so. Reporters will almost always allow extra time in exchange for good information. But if you promise to get back to the reporter at a certain time, do so – respecting deadlines is one of the best ways to make friends in the media.
Similarly, it’s inadvisable to use the media to disparage competitors and/or former partners and associates in even the slightest way. While this seems obvious, it’s incredible how often people give in to this temptation. It usually backfires.
A successful marketing and/or media-relations strategy requires a long-term commitment and in return, can pay long-term dividends. However, to enjoy those dividends you must be prepared to invest daily in the process – or pay a professional to do so.
JOSEPH FINORA (finoraj@hotmail.com) is the author of “Media Relations and Creative Marketing for Financial Professionals.”
