Market Your Hedge Fund

Less than five percent of SEC registered hedge funds are prepared to take advantage of the new advertising rules, according to the white paper How to Market your Fund under the New SEC Rules.

Its analysis of more than 3,100 SEC registered funds showed that fewer than one in 20 had developed a public website, putting them out of reach of new investors, according to research cited in the paper. It also discovered roughly 80 percent of the funds registered with the SEC in Connecticut, identified as opportunistic in strategy, didn’t even have an email address for potential investors to contact.

The white paper was published in July 2013 by the PR firm MaciasPR and can be downloaded by clicking here.

Most hedge funds never developed an online presence fearing it would give the impression of skirting the old SEC prohibition on advertising. These hedge funds are at a huge disadvantage now that they are entering the modern world where a prominent online presence is crucial to marketing your fund.

Marketing a fund with the media is drastically different than marketing a product to the public. Every fund needs credibility before the media will even consider putting a portfolio manager on TV or quoting him as a financial expert. This is why he says it’s so crucial for all funds to establish credibility now with a strong online presence.

The white paper, How to Market your Fund under the New SEC Rules, outlines five steps hedge funds must take now to market their funds to investors.

An excerpt from the white paper includes the following steps for marketing a hedge fund to investors under the new SEC advertising rules:

Establish an Online Presence

There are multiple ways to design a website, but most developers and content marketers agree that an HTML website is better than a Flash website. Search engines like Google and Yahoo can’t read the content within flash so it makes it harder for flash websites to get picked up by search engines. What good is having a website if Google can’t find it? In addition, flash is not compatible with mobile phones, which means anyone who goes to your website from their phone won’t be able to read your content. The world is gravitating towards mobile so most developers agree it’s only a matter of time before flash websites are transitioned out. The white paper recommends developing an HTML website over a flash website.

Establish Credibility before any Media Outreach

Credibility matters in life, but it especially matters for journalists, says Macias who was a journalist for NBC, CBS and King World Productions. Whenever a portfolio manager is pitched as an expert to the media, journalists will quietly and overtly measure his expertise, integrity and experience in the financial industry. If a reporter doesn’t see an online presence on your fund, credibility questions will be raised, Macias says. Here are a few credibility questions you should be able to address and answer before your fund pursues media placements.

Q) What makes you qualified to speak on this topic?
Q) How many years of experience have you spent in the industry?
Q) How big is your fund in comparison to others?
Q) How much of your daily routine reinforces your expertise as a portfolio manager?
Q) What do you know as an insider that other investors would want to know?

Develop a Content Marketing Plan

Your team of analysts already has a wealth of research that could be turned into white papers, blogs, articles or editorials that could be marketed on the web. This is known as “content marketing.” Content marketing is one of the most effective methods for reaching new investors because it provides a real value to consumers. When promoted on the web, content marketing platforms, like nRelate or Outbrain, can help your original content reach even more targeted business readers on influential blogs and news websites.

Find the Best PR Financial Firm

Here are a few questions to help you determine which PR firm is the best fit for your hedge fund.

*Can you give me a publicity strategy for my fund?

*How do you see my fund?

*Tell me about your clients and media placements you have secured?

*Will we be working directly with you? Who is the account executive assigned to us?

*How long before we can expect to see media results?

*What is your media experience?

Develop an Email Marketing Campaign

Email marketing campaigns can be highly controversial because no one likes spam, but when executed in the proper way, they can be highly effective as an investor outreach program. The key to launching a successful email campaign is to deliver original content that educates readers on your fund. Email marketing campaigns are a great opportunity to share research that is exclusive to your fund.

Mark Macias is a former Executive Producer with WNBC and Senior Producer with WCBS. He’s also the author of the communications book, Beat the Press: Your Guide to Managing the Media. Macias now consults small and large businesses on how to get publicity. You can read more on his firm at MaciasPR or MarketYourFund.com

 

Use PR to Drive Holiday Sales

MaciasPR has just published a holiday guidebook for businesses trying to increase their holiday sales, titled: Publicity During the Holiday Season: How to Use PR to Increase Holiday Sales.

The PR guidebook written by media insider, Mark Macias, reveals tactics he learned during his career as a journalist, writer, producer and Executive Producer with the news organizations NBC, CBS, KTVK, King World Productions and the Arizona Republic.

Consumers can download the PR guidebook for free by clicking here.

The guidebook, Publicity during the Holiday Season, identifies 5-tactics business owners should apply when trying to get the media to cover their business. The guidebook elaborates on the following tactics:

Identify your Story Narrative

A good story idea will drive coverage in any market. Many business owners have a misconception that who you know is better than what you know. This section of the guidebook explains why a creative idea is more valuable than a reporter contact in the world of journalism and PR. The guidebook also gives business owners tips on how to identify a timely narrative for the holiday season.

Pitch the Ignored Reporters

Every newsroom has reporters or writers who never get the plush assignments. These may be journalists working weekends or the overnight shifts. In many situations, these are the best reporters to pitch since they have the most to gain from your good idea. This section of the guidebook explains how to come up with unconventional pitches for these reporters.

Identify your Holiday Gimmick

If you want to stand out at a holiday party, revelers need something to push you above the crowd. It’s no different with the media during the busy holiday season. This section of the guidebook teaches entrepreneurs and business owners how to identify a gimmick for coverage.

Establish Credibility with the Media

This section of the guidebook explains how business owners can position themselves as “experts” in their industry, leading to potential publicity. But before a business owner tries to position himself as an expert, he or she must first establish credibility in the community. This section reveals how business owners can establish credibility.

Preparing for the Interview

If the first four tactics are executed properly, the chances are higher that a reporter will be interested in your holiday story. But now what? Is your business prepared for the media coverage? This section of the guidebook explains how to prepare for the reporter interview.

Mark Macias is a former Executive Producer with WNBC and Senior Producer with WCBS. He’s also the author of the communications book, Beat the Press: Your Guide to Managing the Media. Macias now consults small and large businesses on how to get publicity. You can read more on his firm at MaciasPR or MarketYourFund.com

 

 

 

How to Redefine the Narrative

By: Mark Macias

It’s time for an advanced lesson in public relations.

In journalism and PR, the story narrative is crucial to success. Without a strong narrative, there will never be a media placement, regardless of how many contacts you have in the media.

During my years as a news producer with NBC and CBS, there were many times I pursued a story only to discover that the story I thought I was pursuing, changed. When this happened, we had two options – kill the story or salvage it.

In the early stages, like in your initial pitch to a reporter, it is very easy to kill the story, but when money has already been invested in a story, you learn how to salvage it.

As an Executive Producer with WNBC, I oversaw a very large production budget that funded the Special Projects unit. There were many times when I approved a story idea and we invested money into the story, only to discover half-way through the story that it wasn’t there.

This was when we had to put on our creative hats and think of ways to salvage the story – also known as redefining the narrative.

I recently had to “salvage” a story with a real estate client when I was asked to publicize a residential property that was on the market for $48 million dollars.

I originally assumed this high-end property would have gold fixtures and marble floors, but when I visited the property, I saw it was really a fixer-upper. I knew I couldn’t position this story as a voyeuristic view into the wealthy lifestyle, like I had originally planned. So I redefined the narrative.

The new story became, “take a look at a $48 million fixer-upper.” Then, I redefined my media pitch into what I originally thought: “You would think this property comes with gold fixtures and marble floors, but you won’t see any of that in this property. Only in New York can you buy a $48 million fixer-upper.”

The new narrative was such a hit that we had the New York Post and New York Daily News asking for an exclusive on the story. We went with the larger newspaper.

Here’s how to apply it to your business.

Next time you can’t get traction with a story, try redefining the narrative. Sometimes, the real story is better than the original story. And here’s the story we got on that  $48 million fixer-upper.

Mark Macias is a former Executive Producer with WNBC and Senior Producer with WCBS. He’s also the author of the communications book, Beat the Press: Your Guide to Managing the Media. Macias now consults small and large businesses on how to get publicity. You can read more on his firm at MaciasPR or MarketYourFund.com

 

 

PR Case Study on Credibility

By Mark Macias

It was all over the news. Amazon would soon start delivering products using drones to deliver products. Even established news organizations, like 60 Minutes, reported on it.

Don’t believe the hype or near-term predictions. It was all part of a flawless PR plan executed perfectly by Amazon.

The drone story wasn’t about reinventing the delivery system for Amazon. It was about Amazon creating a strong, intriguing narrative and backing it up with substance.

This makes for a great case study on credibility that you can apply to your own business. But first, a quick personal story.

Jeff Bezos understands the media intuitively, and I first learned that back in 1999 when I was a producer with NBC in Miami. I pitched a profile story on the young, unknown entrepreneur from Miami Palmetto High School. At the time, Bezos was beginning to shake up Wall Street with strong predictions on his company would revolutionize retail.

His hype worked and the stock skyrocketed.

It’s no different with PR. A strong statement usually gets covered but it first needs to have credibility.

Lesson One: Establish Credibility with PR

Every media campaign needs a credible narrative because without credibility, the media won’t cover your story. If you’re a portfolio manager for a hedge fund and you want to get on CNBC, you better have an established record. Likewise, if you’re running for City Council, you need a plan that is believable and possible or the local reporters won’t write about you.

Amazon has proven itself over the years so credibility has already been established. Did you know earlier this summer, Dominoes Pizza unveiled the same “drone delivery” platform? But guess what – you probably didn’t hear about it because Dominoes Pizza doesn’t have the credible track record of Amazon. If you’re going to make a bold claim, make sure you have the operations or history to back it up.

Lesson Two: Build Suspense

60 Minutes rarely buys into hype. They don’t need to create hype because it is an established program with the best journalists. But in the case with Amazon, if you watch the segment (click here to watch video) you will see how Amazon was able to build suspense for the drone unveiling. 60 Minutes opened their show with that unveiling to bring in viewers – proof that suspense works.

Lesson Three: Identify a Gimmick that Reinforces Your Services

The drone delivery unveiling was a brilliant strategic media move for Amazon because it reinforces its delivery service. But this isn’t about drones and Amazon changing the way books and clothes are delivered to our homes. This isn’t about customer service or delivery becoming more efficient. This was about an idea that every consumer wants to believe. It’s a page from the Jetsons.

This doesn’t mean you should create a gimmick that is not true. At its root, I’m sure Amazon and Jeff Bezos believe drones do have an opportunity to change the way products are delivered. Your gimmick should inspire but have a root of reality.

Mark Macias is a former Executive Producer with WNBC and Senior Producer with WCBS. He’s also the author of the communications book, Beat the Press: Your Guide to Managing the Media. Macias now consults small and large businesses on how to get publicity. You can read more on his firm at MaciasPR or MarketYourFund.com

Press Releases – Worth the Money?

By Mark Macias

Clients are always asking me what I think of press releases on the PR newswires.

“Will they help us get publicity with reporters,” they ask.

Even a spokesperson with a New York City agency asked me what I thought of PR newswires. She said her agency approved funding for press releases with the PR newswires.

I used to work with her at CBS, so I threw the question right back at her.

“Did you ever once go to the PR newswires to look for a story when you were at CBS?”

Press Releases – When do they Work and Not Work

But press releases can be extremely helpful depending on your media need and strategy.

The various PR newswires are helpful when your business is trying to get something on the record – like a milestone. If your business is growing faster than the competition, you want to announce it to the world and PR newswires are a great place for these.

But press releases on the PR newswires should never be confused as a media strategy.

Notice the emphasis is on “PR newswires” and not “newswires.”

How PR Newswires Differ

There is a big difference the “newswires,” like the Associated Press, Bloomberg or Thomson Reuters, and the “PR newswires.”

The newswires are actually read by assignment editors, producers and reporters. It’s not easy getting media announcements in the newswires because the news threshold is even higher, but if you can get it picked up by a newswire, other news organizations may run with your story.

Paid press releases with the PR newswires can be an element of a larger media strategy, but before you spend the extra money, ask yourself these questions:

Am I trying to get publicity with journalists? If you are, you will be better pitching the story individually to reporters.

Do I want to get something on the record? If your company has achieved a major milestone, signed a major client, hit an impressive sales number, etc – a press release on the PR newswires is a great means to distribute that message.

Do I need exposure for my new website? A paid press release can help with SEO because the backlinks will potentially help you with search engine ranking.

You can read longer, in-depth stories on these topics at www.prhelp.co.

Mark Macias is a former Executive Producer with WNBC and Senior Producer with WCBS. He’s also the author of the communications book, Beat the Press: Your Guide to Managing the Media. Macias now consults small and large businesses on how to get publicity. You can read more on his firm at MaciasPR or MarketYourFund.com

Crisis PR – Lost My Temper

By Mark Macias

A US Congressman made national news headlines after he was caught on camera threatening to throw a reporter over a balcony inside the US Capitol. He thought the camera and microphone were off, but to his later surprise, he learned all of America would soon see that exchange.

There’s a great lesson on crisis communications that you can take from this experience. The politician made a classic mistake that many others have made, including Presidents George Bush and Barack Obama.

If you want to be interviewed on TV – or if you think you might get in trouble later with your temper, there are two big lesson you can take away from these situations.

The Camera is Always Hot

I can’t tell you how many times as a TV producer where a person continued to talk when the camera lights were turned off. The interview is never over when a camera is turned down, the lights are turned off or a microphone is nearby. Most people don’t realize how powerful boom microphones can be even from a distance. They can pick up sound even when the camera is not within sight. If you didn’t say it when the lights were on, you might want to refrain from adding more conjecture to the story when the interview is over.

Be Respectful of Reporters

I’ve worked with many politicians on their media campaigns, including US Senate and Congressional candidates. Many politicians seem to have the same DNA make-up. They are used to being in charge, which doesn’t work well with journalists who take pride in their independence.

When these two sides collide – especially with investigative journalism-  it can lead to major confrontations where the person with the most powerful pen usually wins.

Journalists are human, so kindness matters. You may not like the reporter or his questions, but that doesn’t mean you should be disrespectful to him – regardless of whether you think the camera is running or not. Kindness will take you far with nearly any reporter.

I’ve worked with many CEOs and founders who were interviewed by reporters and showed a lack of respect for the journalist throughout the interview. After the interviews, they told me why they didn’t like the journalist.

I get it. I was one of them.

But what everyone needs to realize is that journalists are trained to question and look for motive. If you give them a reason to not like you, you will succeed. Be kind, be courteous and practice what your kindergarten teacher taught you about others anytime you deal with a reporter.

Mark Macias is a former Executive Producer with WNBC and Senior Producer with WCBS. He’s also the author of the communications book, Beat the Press: Your Guide to Managing the Media. Macias now consults small and large businesses on how to get publicity. You can read more on his firm at MaciasPR or MarketYourFund.com

Cat and Mouse – Related to PR

By Mark Macias

Why does the cat always catch the mouse? When you think of how agile and quick a mouse can be, he should always be able to outmaneuver the cat. Yet, nearly every time, the cat will always catch the mouse.

That’s not just a fun question. It’s actually a way of thinking that applies to public relations.

First off, I don’t claim to be an expert on mice or cats. I have never owned a cat and I hate mice, so I am not skilled at analyzing the strengths and weaknesses of mice and cats. But as a person who lives in Manhattan, -and every New Yorker will tell you – “if you have mice, get a cat and the problem will go away.”

There must be some strategy behind a cat’s approach. There is and here is how it applies to public relations and business.

What Cats and Mice Teach us about Public Relations

A cat traditionally studies its prey before it attacks. It tries to understand the mouse’s movements and agility in advance. The cat is more patient. It takes his time approaching the mouse, waiting for the right moment to pounce while the mouse is busy sniffing the ground.

Now let’s take a closer look at the mouse. I’ve watched mice move on the streets of Manhattan and I will never understand why he loses to the cat. The mouse is faster and more agile and should run circles around the puffy paw.

Trust me, I couldn’t catch a mouse on the streets but I guarantee you I could catch a cat if I needed to. The mouse – on the surface – has every natural talent to win the household game, but it doesn’t because he is afraid.

In the world of PR, you should study and understand the journalists you want to pitch because you only get one chance. If you fire off that story idea before it is completely developed, you risk losing an opportunity for coverage.

Many clients want to see results quickly, and as a business owner, I understand. I want to see a high rate of return as well on my investments. But if the execution of the strategy is rushed and sloppy, you risk losing out on solid media placements.

Fear of Failure Destroys PR Campaigns

Fear is another failing item that can’t be associated with public relations. A creative media strategy requires confidence in an idea and strength with the execution. You can’t be afraid of creative ideas when pitching reporters. Sure, I’ve come up with some crazy publicity stunts and not all of them worked. But a good majority did. If I was afraid of failure, I would have missed out on the home runs. The same applies to your business. You can’t be afraid like that little mouse.

Finally, the mouse fails because he doesn’t think. If you have observed any mouse in a kitchen after turning on the light, they don’t react to change well. Their bodies scramble without direction. It’s like they are immobilized by the sudden change in environment. As a publicist, you need to be able to adapt quickly to change. If you are getting multiple rejections from reporters than it is highly likely your strategy or media pitch is off and needs to adapt to the moment.

If you’re trying to succeed with media placements, you really do need to think like the cat but move like the mouse. If an idea doesn’t seem to be catching on, listen to the feedback of reporters. Are you missing an element with your idea? Does the reporter need more evidence to support the story? Be nimble and respond to their questions. Be like the mouse – fast, agile and quick to respond.

In the cartoon, Tom & Jerry, the mouse always won because he out-thought the big, slow cat. Of course, that is the land of fiction, but since the Tom & Jerry narrative was created by a real person, I can now understand why little Jerry won every time the two battled wits. The publicist or business that out-thinks the competition, usually wins.

Mark Macias is a former Executive Producer with WNBC and Senior Producer with WCBS. He’s also the author of the communications book, Beat the Press: Your Guide to Managing the Media. Macias now consults small and large businesses on how to get publicity. You can read more on his firm at MaciasPR or MarketYourFund.com

 

Who are the Best PR Firms

By Mark Macias

How can you find the best public relations firm for your business? What traits make for a great publicist?

I worked with a ton of publicists throughout my journalism career with NBC and CBS. Now, as the owner of a PR firm, I speak with business owners, entrepreneurs and large companies about their publicity needs. One of the major trends I’ve discerned is most people ask the wrong questions when it comes to finding the right PR firm.

If I were to hire a publicist, here are the questions I would want my publicist or PR firm to answer.

Can you give me a publicity strategy for my business?

You question reveals how the publicist thinks on his feet. A great publicist will have his or her own ideas. He will be able to explain a strategy off the top of his head because he understands how the media works and what will get traction.

How do you see my industry?

This question reveals how well the publicist understands your business. This is a valuable revelation because every publicity campaign will need to identify the unique angle that makes your business different from the competitors. If the publicist doesn’t understand why your business is different from your competitors, he will be at a great disadvantage when it comes to pitching the media stories.

Tell me about your clients and media placements you have secured?

A diverse portfolio suggests that your PR firm knows how to identify a solid news story. It takes a special talent to secure media placements in various industries and if your publicist can demonstrate that with his or her portfolio, you are likely getting an experienced publicist who will perform at the highest level.

Many business owners like to work with a PR firm that specializes in their industry. This can sometimes work against you in the world of PR because ideas quickly become stale. If a publicist has spent a lifetime solely in fashion or tech, they risk becoming complacent with their thinking or creativity.

Will I be working directly with you?

You should meet with the publicist or account executive who will be selling your story to reporters. Does he or she accurately represent your business? Whether it’s fair or not, journalists will associate your product or brand with how well your publicist presents it.

What if we don’t get along? What if I want out of the contract because you can’t deliver results?

Every PR firm hates these questions, but it’s a valid point to raise during your initial discussions. If you’re working with a publicist and the chemistry is bad or he/she doesn’t get along with you, you should be able to get a new person or get out of your account. It’s okay to have a difference of opinion with strategy, but it’s another challenge when you just don’t get along with the person. Make sure you get insurance in case this happens to you.

How long before we get to see results?

This answer can vary by the complexity of your campaign, but the PR firm should be able to give some guidance over a time frame.

What is your media experience?

Experience matters when it comes to figuring out how to frame a story or pitch it to the media. If I were hiring a publicist for my future business, I would ask him or her to sell me on their experience. This will also give you an idea of how well your publicist can sell your stories to the media.

You can read longer versions of these articles at www.prhelp.co.

Mark Macias is a former Executive Producer with WNBC and Senior Producer with WCBS. He’s also the author of the communications book, Beat the Press: Your Guide to Managing the Media. Macias now consults small and large businesses on how to get publicity. You can read more on his firm at MaciasPR or MarketYourFund.com

 

How to Pitch a News Story

By Mark Macias

Most publicists typically take the same approach when it comes to pitching stories, but in many ways, you will have more success by reaching out to a writer who is not the first choice that comes to mind.

For example, if you are trying to get a fashion story in a magazine, most publicists would rightfully pitch a style or fashion writer first. However, you can increase your chances for coverage by expanding the story with an angle that reaches an unconventional writer.

Pitch Beyond the Stereotype

Take the example of the profile story on a fashion designer. Could the story angle include an athletic angle? Sports reporters are always pitched ideas on high school coaches and athletes, but they aren’t always pitched angles on athletic fashion trends for women. Of course you should always concentrate your pitch on the desired audience, but make sure you look beyond the stereotype. Your story idea or client will stand out if you can find that unconventional angle that others haven’t pursued.

And remember, there is nothing wrong with pitching a conventional story the conventional way. But if you find no one is biting on your story ideas, take a moment to review your idea from a different angle. You might find unconventional is the new conventional. Want to learn more strategies on getting your product or service on the news? You can read more at PRHelp.co

Mark Macias is a former Executive Producer with NBC and Senior Producer with CBS in New York. He’s also the author of the communications book, Beat the Press: Your Guide to Managing the Media. Macias now consults small and large businesses on how to get publicity. You can read more on his firm at MaciasPR or MarketYourFund.com