9 Things to Know About the Future of Local News

I recently spoke to a group of business and community leaders about the future of local news. As a public relations professional, I’ve had a ringside seat on the ever-shrinking local news landscape. However, many leaders I’ve worked with in the private and public sectors tend to over-estimate how much scrutiny their bad or good news may attract, while others dismiss the need to actively participate in local media interview requests and reserve their time and energies for national opportunities or what they know will be a puff piece.

My goal was to help these leaders understand the trends shaping the local media landscape so that they could better reach their constituents and stakeholders through earned media as well as via alternate approaches, given local media’s shrinking influence.

Here are nine fast facts with tips for business and organization leaders:

1. The Future of Local News Is Subscriptions, Not Advertising

Print and digital circulation numbers for local newspapers have been consistently falling (from 13.9 million to 8.3 million between 2015 and 2020), but stabilized in 2020. The decline has reduced ad revenue, disrupting the old advertising-driven publishing model.

Another trend started in 2020. For the first time, circulation revenue from subscriptions drove more revenue than both print and digital ad revenue for local print publications and their digital assets. That’s a commentary on how far ad revenue has fallen. And it’s why you’ve been seeing more online publications behind paywalls, as digital subscriptions are often called.

TIP: The Free Press is Worth Paying For.

→ Your organization’s news needs to be interesting enough for people to pay for. Focus on what’s in it for the reader or viewer. How are you helping serve the interests of local news consumers vs. the needs of your organization?

2. Future of Local News Will Serve the Informed Public

Fewer and fewer people are consuming local news across all sources. Only about one in three U.S. adults even follows local news at all.

For journalists and public relations agencies like (W)right On Communications, credibility and reach with the informed public (the one in three people paying attention) are still vital. If you’re a local news subscriber, then consider yourself a member of the informed public.

As someone who is more engaged in your community than most of your neighbors, you’re an important target of our communications and news reporting. You’re more likely to vote (hopefully), show up at city hall, trial or recommend new products and places and understand how your daily behaviors impact your environment.

As subscriptions become the backbone of the local news business, leaders can use earned media to target the most informed and engage constituents in their local markets.

TIP: Reach the Disengaged through Entertainment + Enchantment

→ If you can’t reach people with facts and information, entertain with emotion and be memorable with story. Find and share what makes your story moving and provide local media with assets (b-roll, photos, characters and heroes) to bring it to life.

3. The Future of Local News is Digital with Limited Reach

One of the steadfast rules of marketing is meeting your audience where they are. Current data suggests 84% of U.S. adults get their information from their digital device like smartphone, computer or tablet. Half do so often.

News websites and news apps were cited by two-thirds of adults. But 25% of people still rarely or never use such sources. This 25% also don’t use search engines or frankly any other digital source. They may be getting their information from social media, which recent studies have shown misinforms: people who relied on social media for their news were less engaged and less knowledgeable.

During the pandemic, this was a real problem. A very large number of people had no idea what was going on. You’d find people not wearing masks because they had no idea that there was a mask mandate and later had no idea when it had been lifted. Even when their family’s health and life are on the line, they’re not tuning in to the news of the day via any platform.

TIP: Share Your Coverage on Social and Boost

→ When you’ve got a news story you want everyone to see or read, share it on social and boost it with a small investment to the audience you might have missed.

4. The Future of Local News On Social is YouTube

Social media as a news source shrank a bit this past year. It’s still the third most used platform for news, cited by 48% of people as a frequent news source. Facebook, YouTube and Twitter were the three most popular networks for news.

For leaders considering reaching constituents and stakeholders with their news via social media, YouTube is a platform deserving of a second look. YouTube users stream news about subjects they’re interested in as they ‘cut the cord’ from their cable providers. As the second largest search engine (and owned by Google), YouTube provides “news” on an endless breadth of subjects on demand — from foreign language to gamer news to regular streaming newscasts and segments. Local TV news stations have their own YouTube stations.

TIP: Consider Producing Your Own YouTube News Content.

→ Seeing is believing and YouTube allows for longer format reporting that can be teased or promoted on other social apps like Instagram and Facebook Stories, Twitter, Snapchat or TikTok.

5. The Future of Local News is Podcasting

The percentage of people who get their news from podcasts is growing every so slightly every year. While a few people say that they never listen to podcasts, what’s noteworthy about those who do listen is that they skew younger. Sixty-two percent of 18 to 49-year-olds report listening to podcasts for news sometimes or often. And rates are also higher among more educated and affluent listeners.

Leaders need to make time for podcast interviews to reach younger, more education and affluent members of the informed public. Podcasts are a great channel to reach these important audiences.

TIP: Embrace Podcasts to Reach Younger, Affluent Audiences

→ Not only are podcast audiences growing, but podcast interviews have been discoverable on Google since 2019 and, unlike radio interviews, can have a reach that grows over time.

6. The Future of Local News Is Nonprofit

As local journalism gets vastly outspent by Big Tech, ad revenue shrinks and the size of the uninformed public grows, is it any wonder that a dozen new nonprofit newsrooms launch every year?

Nonprofit models remove the profit imperative and allow newsrooms to be funded through grants, donations and subscriptions or memberships. Some great reporting is coming out of nonprofit newsrooms.

Individual citizens can support local nonprofit news organizations through monthly contributions that are no more than a monthly subscription may run. Your local PBS affiliate has relied on donor support for decades.

TIP: Support a Nonprofit Local News Organization

→ Get involved as a donor or board member to help local nonprofit newsrooms flourish.

7. The Future of Local News is Greater Privacy Protections

Another major shift that’s just starting to be felt is Apple’s new privacy protections. When you’re online on IOS devices, Apple no longer allows advertisers to embed cookies and use their website pixels to track your behaviors and market their goods to you.

This has had an immediate and very significant impact on Facebook’s fortunes. Facebook took a $10 billion revenue hit as digital advertisers scaled back. It’s a positive development to me as a communicator because digital marketing had become so transactional. It’s a reminder to leaders not to focus on click-through rates at the expense of relationship and trust building.

TIP: Build Trust Through PR to Support Digital Transactions

→ Build trust and credibility through strategic communications before you ask for the sale. That’s the secret to higher closing rates. And your consumers are looking for trust and credibility signals before they buy.

8. The Future of Local News is User Generated

Technically, anyone with a camera-equipped smart phone is “the media” as well as anyone with an audience is “the media.” Influencers and eyewitness videos can shape opinions and drive awareness just as powerfully as a mainstream, top tier local media outlet.

Newsroom cutbacks mean journalists are more likely assigned to multiple beats and assignments every day. So, leaders cannot expect them to come into interviews with much knowledge or understanding and, therefore, must work hard to bring them up to speed so that they can accurately report on their news.

The right influencer or content creator with a niche following and deep familiarity and passion for your topic may move the needle with the people that matter more than highly respected and accomplished media outlets or journalists.

TIP: Find Niche Content Creators to Reach New Audiences

→ Find the right influencer or content creator to reach niche audiences with your messages. But be ready to pay for that content and access while also giving them control over how your story is packaged.

9. The Future of Local News is Building Trust

Released in January at Davos every year for the past 22 years, the Edelman Trust Barometer tracks trust in business, government, media and NGOs. This year’s theme was “A Cycle of Distrust” which the authors say was fueled by the government and media industries.

Democracy is built on trust. As government leaders vie for votes and media outlets vie for clicks and viewers, the public is left feeling anxious. They’re looking to NGOs and businesses to take the lead on societal issues. Like Apple did on privacy or like Nordstrom, Sephora and Macy’s did with the 15 Percent Pledge to make 15% of their retail shelf space available to black-owned brands. Other examples include the businesses that exited Russia after its invasion of Ukraine and Ernst and Young’s R U OK program to help employees with mental health and addiction issues.

At the World Economic Forum, the new rallying cry in response to this cycle of distrust has become an emphasis on a new model of Stakeholder Capitalism to replace decades of Shareholder Capitalism. Under the old model, the company was put at the center, and everything served the business. It was a profit-centered model. The new model puts the wellbeing of people and planet at the center of a business.

TIP: Restoring Trust Starts Locally.

→ From local news to city council to school boards, focus on restoring trust and respect in your backyard. A healthy local news media supports an informed and engaged public and a sense that we can trust our leaders to conduct themselves in the public’s best interests. 

→ Read my Q&A with Lynn Walsh of the Trusting News project to learn how the media is working to restore trust through more transparent reporting practices.

So, What Can You Do to Support Local Journalism and Break the Cycle of Distrust?

Subscribe to and support local news and nonprofit news. Encourage subscriptions amongst your coworkers, friends and family.

Professionally, take a more relational and less transactional approach to your communications. That means you start first with listening and understanding your stakeholders and their needs. Whether you’re reaching the informed public through the media or sharing your story through other means such as your website, email newsletter, social media, speaking opportunities, events or video, demonstrate empathy and frame and share stories in a way that matters to your stakeholders.

Most important, as a leader, make sure that your organization delivers on the expectations you set in your communications. That’s foundational to building trust.

Be realistic in the expectations you set. Be consistent in your communications and messages you deliver. Therefore, when things go wrong, your track record of empathy, transparency and consistency gives your brand or organization the best chance of an understanding and patient response from employees, customers, investors, donors and, of course, the media.

 

ABOUT THE AUTHOR: Julie Wright is President of (W)right On Communications, Inc., the award-winning integrated strategic communications firm she founded in 1998. With offices in San Diego, Los Angeles, and Vancouver, B.C., her team handles complex communications challenges for B2B tech, cleantech and energy, healthcare, tourism and hospitality, not-for-profit and public sector organizations. Wright and her team elevate the agency experience through data-driven insights and measurable results for client partners.

How to Earn Media Coverage in Major News Outlets

Earn media coverage in major news outlets

The Wall Street Journal is the world’s most influential business news outlet. For subscribers of our agency newsletter, The Strategist, we recently put together this helpful infographic on how to earn media coverage in major news outlets like The Wall Street Journal.

It outlines 12 steps to catch the WSJ’s attention for your business, nonprofit or client. These steps can be followed to earn media coverage in any major news outlet:

This approach is how we earned coverage in the WSJ for our client, EVS, as well as a retweet by Arianna Huffington to her 3 million Twitter followers and an inquiry from a Fortune 500 technology partner. Such is the power of The Wall Street Journal.

SUBSCRIBE: Get our quick, timely communications ideas and insights each month.

(W)right On Communications won a Silver Bulldog Award for Best B2B Product Launch for our work on this campaign. Read the full case study written by the Bulldog Reporter for in-depth tips.

Best Media Training Tips

By Julie Wright —President

Twitter: @juliewright

Our agency meets every two weeks for in-house training and recently Practice Area Director Chance Shay shared his best media training tips in a fun session he titled “Crushing Media Interviews.” I’ve participated in or delivered many media trainings, and I liked how Chance’s presentation so concisely shared our agency’s media training tips. So, I’m sharing a recap here.

To avoid a media meltdown, follow this four-step media interview process and our best media training tips:

Step 1. Screen the Opportunity

When you see a media interview go bad like this British interview with Quentin Tarantino, the culprit is typically a lack of preparation combined with an unrealistic expectation as to how the interview was supposed to go. When things don’t go as we expect, some of us—like Tarantino—will lose our cool (which makes great, if cringe-worthy, television for the rest of us).

Screening requires basic fact finding to ensure the opportunity is a good fit for you and that you prepare appropriately.

Chance’s best media training tips started with reviewing the outlet’s and writer’s past coverage. Is this media outlet and opportunity a good fit for your business and its goals? Is it a top-tier media outlet, smaller and scrappier blog or trade media that look for advertising in exchange for editorial coverage? Will the writer do their due diligence and apply a professional code of ethics such as the Society of Professional Journalists’ code? (The established rules of journalism are not always followed or respected by many new media outlets and blogs–from pay-to-play to twisting quotes to fit a partisan political agenda.)

A blogger seeking clicks has a different goal than a long-form magazine feature writer or a local TV news reporter needing video for broadcast, video for the webs and an article for the web. Print and online journalists will often want video to accompany their stories as well.

Find out who else the reporter is interviewing for the story. Are you one of many voices or are you the only person speaking to your side of an issue. They may or may not tell you who else they’re interviewing, but it will certainly help you better prepare if you can find out.

If you’re not clear what it is that the reporter wants from you for their story, ask for more details or clarity. If their explanation doesn’t make sense to you, it is okay and often safer to politely decline.

If this is an opportunity you are interested in, it is important to get the reporter’s deadline and commit to the interview well before that time. I have seen clients hold out until the last second and, as a result, miss the opportunity. The reporter wants to complete all interviews as early as possible so that they can write the story. The longer you wait to provide a comment, the higher the likelihood others will shape the story and your quote will be placed at the very end of the article, if it gets included at all.

Step 2. Prepare for the Opportunity

Take the time to prepare yourself by drafting or reviewing your key messages and talking points.

If you don’t have these already, start by narrowing down the main points you’d want to communicate. Pick your top three. Practice them in front of a mirror or with a friend.

If you are expecting challenging questions during your interview, brainstorm all of the worst rude questions you might be asked and practice your responses to them. That way, when the nasty question arises, you’ll be relaxed and able to respond without losing your cool.

During our discussion of preparation methods, Chance was asked by a participant whether it was true that Sarah Palin had refused media training. Famously, she did and famously, it showed.

Step 3. Interview Smart

“After all of this, it’s go time,” Chance said. “If it’s an outlet that’s challenging for your client or client industry, you can still get a great win.”

During the interview, remember your ABCD’s.
  • Acknowledge the question: “I’m glad that you asked that.” Or “I get asked that question a lot.”
  • Bridge to key messages: “That’s a great question that I get asked a lot, but what’s really important to people is / what our customers ask is…” These phrases help you move from the interviewer’s questions to your key messages. More examples: “Let me answer that question by putting things into context…” “Let’s talk about something I’m even more familiar with…” “Well the answer is no, but what is really important here is…”
  • Conclude with proof points: “… we know that because we did a customer survey and 95% said…”
  • Dangle the next topic if you’re feeling lucky: “… and it’s dang cool software design” or “… and that discovery leads to a really surprising new problem to solve.”

Chance’s best media training tips included being brief. The less you say, the more poignant and quotable your points are. It also lets the interviewer be engaged so they can ask questions and leaves them wanting more. It’s easy to drone on, especially when a reporter is interviewing you by phone and taking notes. Just because the reporter hasn’t asked another question, doesn’t mean you need to fill the void with ramblings. Make your point and wait for the next question.

Avoid negatives or charged words. A “problem” is a “challenge.” You don’t “hate” something, you “prefer its alternative.” It wasn’t a “failure” but a “learning opportunity.”

Recent media research shows that the media don’t have a political bias. They have a bias for ‘negative’ angles. Conflict sells. When everything is going smoothly and harmoniously, there’s no news.

Remember during your interview that nothing is off the record and the camera is always rolling. What you say before or after the interview can be picked up by a hot mic. Chance’s best media training tips include not saying anything you don’t want to see all over the Internet.

Be conscious of your energy level and body language. Your nonverbal communication can say more than your words. Voice, gestures, posture, eye contact. Avoid eye rolls or big sighs. And if it’s an on-camera interview, dress for the part.

Step 4. Follow Up

Correct any inaccurate statements or provide more follow-up to clarify content from the interview. This could include emailing a full study or images and other links to the reporter. If you have an agency or PR department, they will often take care of the loose ends.

But you can still debrief on the final published story to look for opps to improve for next time.

Chance shared additional do’s and don’ts among his best media interview tips. It was an excellent session but it is no replacement for a full, customized media training session including on-camera practice that is based on your industry, your company’s needs and your own level of comfort in the media hot seat.

To learn more about getting our best media training tips in a customized session for your team or your media spokesperson, please contact us at (W)right On Communications. Call (858)755-5411 or email info@wrightoncomm.com.

Five Tips for Successful Social Media Branding

By: Kara Dement

Twitter: @KaraDeMent_

In more ways than one, social media is at the heart of how most organizations communicate with their audiences.

‘Heart’ is a good metaphor since it’s both central to the communications strategy and the source of how the organization looks and feels—and of course the ‘look and feel’ is the definition of a brand. So how do you make sure your organization’s look and feel are accurately and consistently portrayed through social media? Here are five expert tips to keep your social media strategy on the brand:

  1. Establish and maintain a consistent voice voice GIF

Buffer defines voice as, “your brand personality described in an adjective. For instance, brands can be lively, positive, cynical, or professional.” If you want people to listen, you need to inject some personality. Know your brand’s voice and ensure it’s aligned with your company culture and your target audience. Then make sure you use the same voice across all platforms so that you don’t come across as a split personality.

  1. Choose the right platforms

Understanding each platform’s audience can help you identify what social media platforms are the right choice, and then you can use your brand voice to share things that are relevant to that target audience. Snapchat users on average are between the ages of 18-34 according to Omnicore Agency, so using Snapchat to discuss retirement planning probably won’t work. Also, not all voices work across all platforms. If your brand voice doesn’t have a playful side, you should either look into developing one or steer clear of Snapchat altogether.

  1. Select appropriate visuals

When it comes to describing your brand, a picture is worth a thousand words. So select imagery carefully and make sure it is consistent with and helps augment the story your voice is telling. Speaking of consistency, it’s also important to maintain visual consistency across all social media platforms. Having the same colors, logos, etc. is a given, but even your photography, video and shared stories should all align with your brand’s personality.

  1. Engage

Nobody wants to have a conversation with themselves, plus that goes against the whole point of “social” media. For a brand to have a credible personality, it needs to be responsive on social media, or people will assume no one at your organization is listening. Jay Baer, President of Convince & Convert, found that 42% of consumers expect a 60-minute response time, so being engaged with the audience’s comments, questions and concerns is critical to meeting your audience’s expectations. It’s also a great way to build trust and rapport so when you want your customers to engage with you, they’ll be ready and willing. yes killer whale GIF

  1. Offer relevant and killer content

At (W)right On, we go by the 80/20 rule. Meaning, 80% of content should be “check this out”, so long as it relates to the brand, and 20% should be “check us out”. Talking about yourself all the time is a turnoff, and not the kind of personality that brands want to be perceived as having. If you stick to the 80/20 rule, it will help prevent the pitfalls of constant monologue and will help develop your brand’s personality by giving it depth beyond your own organization.

Need help developing your brand’s voice and personality on social media? Call or email our team of social media pros to help! You can reach us at (858) 755-5411 or info@wrightoncomm.com.

Five lies about PR measurement that can sink your strategy and career

By Julie Wright—President and Founder

Twitter: @JulieWright

Last month I attended the Ragan PR Daily PR measurement conference in Miami. The two-day event was crammed with hot tips and excellent case studies on PR measurement–how to design measurable campaigns, incorporate analytics, conduct surveys and develop metrics that matter.

Businessman pointing graphs and symbols Free PhotoIt is increasingly clear to anyone in the public relations profession that PR measurement is something our industry needs to embrace. With marketing budgets and margins under constant pressure, companies are looking to optimize their investments across paid, earned, shared and owned strategies. Not only does PR need to stack up against highly measurable digital strategies, it also needs to take digital paid, shared and owned tactics under its wing to produce more integrated, measurable campaigns.

After two full days of discussion in Miami, I was even more convinced of these truths and returned to San Diego fired up to confront some of the biggest whoppers about PR measurement head on. So here are my top five falsehoods. I’d love to hear your take on this list and maybe together we can all help move the PR field in the right direction.

LIE #1: PR just isn’t measurable.

If you are in PR and truly believe this, you’re toast. Sure, PR is not as easy to measure as digital marketing, but it is far from impossible to measure!

It requires a little more legwork and setting aside some campaign resources to do it well. But, keep in mind, the gold standard for PR excellence has always started with research and ended with evaluation—a.k.a. measurement.

Don’t believe the lie that PR isn’t measurable. Instead, refresh yourself on best practices in PR research and evaluation.  

  • Read “Public Relations Research for Planning and Evaluation” by Walter K. Lindenmann on the Institute for Public Relations’ website.
  • Check out the International Association for Measurement and Evaluation in Communications and their Integrated Evaluation Framework. AMEC has developed an interactive online tool that walks you through each step in the PR planning and evaluation process. The tool is designed to help support campaign evaluation; however, you can just as easily use it to guide campaign development to ensure you’re creating measurable campaigns from the start.
  • Read how others have designed measurable campaigns. AMEC has an annual awards program and shares case studies about the winning campaigns.
  • Check out the measurement resources provided by the Public Relations Society of America. It has collected all the measurement resources and links you could wish for in one place.

LIE #2: Our campaign goal is to raise awareness.

This is also a lie. As Joseph Ogden, BYU public relations professor, threw down in Miami, “If anyone tells you their only goal is awareness, they’re lying.” No one wants their PR campaign to simply raise awareness. They want their campaign to drive people to take some measurable behavior—to buy a product, drink less soda, visit a destination, attend an event, enroll in a course, submit their email, visit the website, vote, download the white paper or make a donation.

Hold yourself to a higher standard and help your client or boss understand that you do more than just “create buzz.” (Eye roll.)

It’s easier if you start by developing an objective that clearly states the behavior you want your stakeholders to take, by when and how often. Once you know your behavioral objective, work backwards and think about your informational objective–the message or knowledge your stakeholders need to receive and internalize—and the motivational objective—the emotional connection they need to make—to drive them to take the desired behavior.

Once you’ve set your intention from awareness through motivation and behavior, you can start to research your stakeholders to find out what their level of awareness and knowledge is and what motivates them so you can develop your strategy.

LIE #3: PR people aren’t numbers people.

That’s B.S. Don’t be boxed in by this lie. Good PR people are good storytellers, and one of the most powerful storytelling elements available to you in 2017 is data. Don’t shy away from it.

IBM Digital Experience Manager Brandi Boatner put it another way during the Miami conference: “Congrats, you’re all data scientists.”

Boatner pointed out the many data streams at our disposal today. There are internal sources that are coming from your advertising, website and internal processes. Analyze them as well as external streams you can study such as news trends, social media trends and competitive intelligence.

Google’s Louis Gray pointed conference attendees to Google Trends, a site where you can see in real-time what the world or the U.S.A. is searching, what news stories are trending and find interesting reports on search behaviors.

If you’d like to dig deeper into your audience’s awareness, beliefs or behaviors, check out Google Survey. Use this tool to cost-effectively add your questions to consumer surveys pushed out to targeted demographic groups via a network of publishers.Image result for PR measurement memes

Or if you have data of your own that you’d like to put into an impressive visualization, Gray pointed to Google Public, a data visualization tool. And don’t forget plain old Microsoft Excel. It will recommend the optimal charts and graphs for you based on your spreadsheet data.

It’s a data-rich world. Your company and clients are collecting data all the time. Extract that data to find amazing trends or to dispute conventional wisdom. Maybe there’s a surprising correlation between weather patterns and shopping behaviors, or day of the week and donations. The point is, you won’t know if you don’t look. And you won’t look if you think it’s outside of your skillset.

So, call a meeting with your company’s data guru and start spit balling with your new best friends in I.T.

LIE #4: More data is the answer.

It’s not about metrics. It’s about insights. And it’s not about the quantity of data points. It’s about their relevance to your goal.

Over a third of social marketers reported recently that they struggle to “distill data into insights and actions.” And it’s no wonder. Facebook and Google Analytics are just two sources that can generate a massive amount of data on your target audiences’ behavior.

Going back to your informational and behavioral objectives, it’s important to pinpoint a handful of key performance indicators to show that your message is reaching your target audience and that they are taking the behaviors that your client or boss really cares about.

You don’t need to track them all. You just need to focus on the metrics that matter and then go beyond tracking to analysis.

LIE #5: Setting measurable PR objectives sets you up to fail.

The old saying applies here: you can’t improve what you don’t measure.

It is not a failure to set measurable objectives and then fall short of them.

The failure is in not understanding why you didn’t meet your objectives. Were they not SMART enough–specific, measurable, attainable, relevant and time dimensioned? Was your strategy missing an element? Was your target getting the information but not motivated sufficiently or too inconvenienced to take action?

If you’ve set measurable goals, you are forced to ask yourself these questions and better understand your successes and challenges, which will make you better.

The only real failure that should scare you is the failure to even try. Or as another old saying goes, no one plans to fail, they just fail to plan.

Let us know what you think. How has your experience with PR measurement been? What tips or tools have you discovered? What obstacles have you encountered with your team, boss, budgets or clients? We’re all in this together and I’d love to hear what you think. Tweet me at @juliewright or @wrightoncomm.

How to Strengthen your Business with Diversity

By Ronda Williams—Marketing & Administrative Coordinator

Twitter: @R_Williams11

Diversity is defined as…

“an instance of being composed of differing elements or qualities.

(W)OC has a diverse team of experts in various fields including communications, social media, public relations, graphic design, videography, and more. Not only is our team diverse but the industries we cover are also; this makes for a complementary partnership. Who says you can’t be an expert in more than one field?

The Facts about Diversity:

According to the Harvard School of Law, “the presence of an industry expert independent director is associated with an increase of 4.6% in firm value.”

Whether it be a firm, agency, or business having an industry expert will add to the value of your company.

Another fact  says, “40% of respondents in a recent survey of S&P 500 firms identified industry expertise as a desired background.”

We all could learn a thing-or-two from the business strategies of the S&P 500 firms.

Diversity in a Contagious Atmosphere:

At (W)OC we have a positive atmosphere that makes for less stress and allows us to GSD (Get Stuff Done).  Everyone here works together in  the benefit of achieving the tasks at hand.

Mark Nadler says, “You want people who understand the business and the industry that you’re in so they can think strategically.”

Having a team that is comprised of a diverse background makes for a winning team that can strategize together for the big win.

To put it simply, “a diverse team makes for a strong team!”

He goes on to say, “the roles of the individual board member, the outside person, is to pull the two sides together, to create a link and to bridge different opinions and different points of view.”  Again, backing up the concept of,

A diverse team = A strong team!

At (W)OC we help strengthen each other with our expertise. We’re always lending advice and coming together for a team huddle to create winning strategies for our client partner’s. Having that one team member that is an expert in such industries can be helpful to bring together both sides of a vision.

To learn more about the diverse industries that we cover please visit, www.WrightOnComm.com or give us a call at (858) 755-5411 and let us help bring your visions to life!