By Ken Payne
E. Jerome McCarthy was a marketing professor at Michigan State University and the author of the landmark book Basic Marketing: A Managerial Approach (now in its 19th edition). But what McCarthy was arguably best known for was his conceptualization of marketing as a big cake (my example, not his) – a mix of ingredients that, when proportioned correctly and baked at the right temperature for the right amount of time, produced big profits for the butcher, the baker, and the candlestick maker.
You remember. Marketing 101. The 4 Ps – product, place, promotion, and price?
So what does all this have to do with a front-page placement in the New York Times? Well, maybe nothing. But it has everything to do how public relations is moving into the participatory culture of content marketing via the online newsroom.
No choice, really. The publishing world is failing PR. How? According to numbers from MediaFinder.com, 367 U.S. periodicals shut down in 2009 and 64 went online-only - actually better than 2007 and 2008 where 573 and 526 magazines shut down respectively. 2013 shaped up a little better with 138 magazine start-ups vs 45 closings.
And while this is bad news for publishing, it’s equally awful for the public relations industry as we watch the number of potential placements dwindle as outlets decline,” according to Buck Banks, Vice President at NewmanPR. “Aggressively pursuing digital media and online social networking outlets makes sense as we move into a direct-to-consumer era, where the intermediary layer of the journalist/editor disappears.”
Direct to consumer? Wait a minute. That sounds like...marketing!
Welcome to a new, or might I say “news,” era for public relations. An era in which public relations will, by hook or by crook, embrace the opportunities and perils of marketing its message direct to consumers, shareholders, stakeholders, employees, analysts – even butchers, bakers and candlestick makers – through the online newsroom.
“But I was asleep during Marketing 101!,” you say? No worries. Let's take a moment to review McCarthy’s epiphany from the ‘70s in a series of blog posts to see how it relates to the future of marketing your message. First stop - product.
Content. Convenience. Collaboration. Cost. It’s a new vocabulary for public relations, and a new way of thinking about marketing your message. At TEKGROUP we know about the 4 Cs of connecting you to your publics via an online newsroom. It’s the only thing we do. For a free, no hassle demonstration of our online newsroom software, contact us today at email@example.com, or give us a call at 734-945-7790.