The Value of #PR. Can it be measured? What to pay for publicity?

Kudos to Carl Bialik at the WSJ for opening the can of worms that many within the "public relations" industry would like to keep closed, particularly those that pitch AVEs (Advertising Value Equivalents) as the metric by which they charge for their services...
Here's the thesis:

For decades, many publicists have translated clients' news coverage into dollar figures, with a simple rule of thumb: A newspaper article is worth as much as a newspaper ad of the same size. Similarly, 30 seconds of television news coverage is seen as comparable to a 30-second ad. 

Some public-relations specialists, reasoning that news coverage carries greater weight with consumers than paid advertising, put a news article's value at three times an equivalent-size ad.

But other public-relations professionals and academics have railed against making these calculations. Publicity, they say, has different goals than advertising and shouldn't be measured in the same way.

This blogger would argue that putting a definitive monetary value on a blurb is bombastic, BUT, the PR hack's job is to get the client as many mentions as possible, whether in major newspaper stories, radio, TV or attributions in blogs. For those that favor a flat tax, maybe there should be a flat fee, or a fee scale that's based on number of third-party mentions, and the scale is limited to media sectors?

What sayeth you? Let us know!

Branding & PR: Not Just For #Gamers

Here's a new PR twist: that's gaining traction: tell customer's you'll throw them out if they txt or use their cell phones while in your establishment. The operator that's pushing this envelope has got my vote on the message, the delivery, and the application! Click here for NYT coverage

Here's a "duh" idea that leads one to ask "Why didn't your marketing/branding wizard think of this idea? He did?! Then why hasn't he implemented anything yet??.. Got you guessing? Good.
Now click on this article from today's WSJ
 

#GameChanger:#ICANN's Plan To Profit By Extension:The Bubble That Keeps On Floatin'

In what can only be viewed as a "profit by extension" scheme by ICANN, the Internet Central Bank and World Congress of the Internet combined, today's game changing announcement to open up the extension market, which is currently capped at 22 suffixes (e.g. .com, .net., .biz, .org, .edu, .mil, and 17 others) and allowing the registration of privately-owned extensions for a mere entry price of $185,000 per extension is going to make millions for fast movers with big check books.

Make no mistake; this is also a game changer for anybody (who's anybody) that's responsible for brand marketing, and anybody that has a vested interested in the World of SEO.

While ICANN had first started planning this idea over 10 years ago, today's formal approval to open up the flood gates and offer the ability to own and monetize customized extensions was no doubt bolstered by the terribly-in-vogue, "its all the rage and there's no supply!" pricing strategy currently being used by Wall Street and Silicon Valley bankers in the course of their touting social media IPOs; a period that will hereafter be remembered as 'The Bubble That Keeps on Floatin' "

Having once dallied up and down the lanes of big bank trading floors, this part-time VC, part-time blogger, part-time rainmaker is lovin the idea. While this post is not to be construed or considered to be a solicitation to sell shares or solicit investment from institutional or individual investors, if you want information on a new private fund that will be focused on leading the land-grabbing gold rush by securing sought-after search phrase names, then executing a "profit by extension"  plan with the goal of making 10x-20x return on invested capital--contact us.

And no; our plan isn't driven by a blue ocean strategy; in this case, the size of the ocean went from being the size of a puddle to the size of the Mediterranean Sea. The opportunity to profit has gotten that much bigger for those that are willing to sit at the $185,000 per card table.  Chump change maybe, and its more than likely you'll very soon be reading about tens of millions being raised by hedge funds and Wall Street shops to back similar ideas.

That's fine; if today's social media IPO market is any indication, the ones that get to the gate first and accumulate the value properties the fastest can make 50x on their money in under 5 years. This isn't a pernicious prediction, this will be happening. As the notorious parody author of one the blogosphere's more pugnacious sites likes to say: Trust me.

No Joke: #MarthaStewart Goes Comic; #FlashSale: The New #MarcomStrategy

Comic Book format for story-telling (i.e. product/service selling), a marketing strategy that we profiled two years ago and revisited last week when Steve Jobs announced his new bio will be in comic format, is gaining traction--as evidenced by Martha Stewart's announcement that her bio will be published in a similar comic-centric format.
 "A visual medium provides perspective that is not only accessible but more relatable to the average person without losing any of the information involved." 
Don't say that we didn't tell you so.


As long as we're on the topic of trendy marcom strategies, for all of you PR 'gurus' and marketing geniuses that get paid for positioning creative branding strategies for your clients, you should know that aligning your clients with "flash sale" sites (the ones that offer steep discounts for products only if you act "now") isn't so much a sales strategy as it is a branding and marketing strategy.

Most brands have long lamented the down-sides of using juicy on-line promo coupons to bring in customers; the subsequent sales from these strategies are considered to be momentary blips, and for many merchants, these campaigns prove to be more aggravation than they might be worth.

That said, and as profiled in today's NYT , brands are discovering that flash sale campaigns have become something else: a way to advertise and find new customers, many of whom visit the sites of the brands and buy full-price merchandise soon after the sales.

#SteveJobs Bio in #ComicBook Format: Buys into Approach From JLC Group 2008 BlogWe Told You So!!

According to AP, Steve Jobs is cementing his iconic image with the release of a bio in comic book format.

By MATT MOORE AP Business Writer

PHILADELPHIA June 14, 2011 (AP)

Steve Jobs, the public face of Apple Inc., is getting a biographical comic book.

Publisher Bluewater Productions Inc. said Monday it will bring a 32-page biography — titled "Steve Jobs: Co-Founder of Apple" — of the iconic CEO to comic book shops, bookstores and online retailers Aug. 24, detailing his life and career.

Before you click on the the full story, .according to Associated Press.  look back to the September 2008 blog post right here, and you'll understand why we're patting ourselves on the back; after all, we've been promoting this very idea for years, and its one that has since become a proven branding application.

The issue isn't why Jobs waited two years to embrace the application that we've long advocated as a being a key weapon within a larger branding arsenal, the issue is that he's the most recent icon to do so.

Starting Your Own Online Video Channel

For thought leaders looking to leverage the trend in online video..Good read from the NYT. Below clip is our [very raw] primer.

#BrandBurnishing Boot Camp: For Celebs, Entrepreneurs and Wannabees

#1: Video. Get on the bus, or get run over by it. If you haven't embraced it yet, its not too late. If you need a primer, Google subsidiary YouTube is providing a boot camp for newbies that provides a primer in the basics. See this past weekend's NYT article. Don't forget to bring the marshmallows!

#2: You're a celeb of sorts; your fame could be a function of a series of corporate accomplishments, your role as a pundit (i.e. talking head), an entertainer, or perhaps you're a professional sports figure. You're looking to leverage your notoriety. Wouldn't it be neat to add "novelist" to the notches on your belt?

Well, this is apparently one of the fastest growing trends, and if you can't write, no less spell, no worries! Publishers are bending over backwards to exploit your notoriety and they've got ghost writers on call to mint your name with their story lines. See today's article from NYT