How Digital Makes Banks Flexible, Responsive And Intimate

While making digital the main channel of customer engagement, banks are also looking to move beyond business as usual, says Amit Anand, a Vice President in Cognizant Consulting’s Banking and Financial Services.

COVID-19 made online channels indispensable for bank customers, including those who preferred in-person banking. This accelerated their digital strategies and created an opportunity to go beyond the basics and become partners in their customers’ pursuit of financial wellness.

As banks bet big on digital, they are looking at technologies such as AI, advanced analytics, and automation to provide personalization, prediction and speed in creating powerful customer experiences. Banks are also increasingly relying on machines to automate repetitive tasks and make complex decisions, creating demand for human skillsets that complement intelligent machines.

Cognizant’s Center for the Future of Work (CFoW), working with Oxford Economics, recently surveyed 4,000 C-level executives globally, including 287 senior banking and financial services executives to understand how banks are adapting to fast and dramatic changes.

The earliest forms of digital banking trace back to the advent of ATMs and cards launched in the 1960s. As the internet emerged in the 1980s with early broadband, digital networks began to connect retailers with suppliers and consumers to develop needs for early online catalogues and inventory software systems.

By the 1990s the Internet became widely available and online banking started becoming the norm. The improvement of broadband and ecommerce systems in the early 2000s led to what resembled the modern digital banking world today. The proliferation of smartphones through the next decade opened the door for transactions on the go beyond ATM machines. Over 60% of consumers now use their smartphones as the preferred method for digital banking.

The challenge for banks is now to facilitate demands that connect vendors with money through channels determined by the consumer. This dynamic shapes the basis of customer satisfaction, which can be nurtured with Customer Relationship Management (CRM) software. Therefore, CRM must be integrated into a digital banking system, since it provides means for banks to directly communicate with their customers.

There is a demand for end-to-end consistency and for services, optimized on convenience and user experience. The market provides cross platform front ends, enabling purchase decisions based on available technology such as mobile devices, with a desktop or Smart TV at home. In order for banks to meet consumer demands, they need to keep focusing on improving digital technology that provides agility, scalability and efficiency.

Seven Ways to Capitalize on Digital

  1. Institute front-to-back digitization. Banks can effectively compete with fintech competitors by becoming digital institutions.
  2. Explore new customer segments and business paradigms. Digital makes it easier than ever for banks to explore small business segments, even as they pursue existing markets.
  3. Emphasize platform centricity and smart aggregation. Open banking standards can help banks to provide personalized products to customers in collaboration with third-party providers and fintechs.
  4. Invest in personalizing the customer relationship. Banks should use personalized experiences to make customers’ lives as frictionless as possible.
  5. Focus on re-building trust and resiliency. Banks need to eliminate any biases in decisions made by machines.
  6. Enshrine inclusivity into your digital strategy. Banks should use digital to reach customers who are left out by being physically and cognitively challenged.
  7. Balance machine-driven and human-centric work. Create sturdy human-machine collaboration by reevaluating jobs for a shared environment.

For more, read our paper “The Work Ahead in Banking: The Digital Road to Financial Wellness”.

Amit Anand is Vice President and North American Practice Leader for Cognizant Consulting’s Banking and Financial Services. Amit has 20 years of experience with firms such as Accenture, Infosys and Cognizant. He has successfully led and managed large business transformation, digital and IT transformation, and associated organizational change management for several financial services clients. Amit is a recognized thought leader with more than 15 publications on topics such as Open Banking, Digital 2.0 and new-age operating models. He can be reached at Amit.Anand@cognizant.com

Manish Bahl leads the Cognizant Center for the Future of Work in Asia-Pacific and the Middle East. A respected speaker and thinker, Manish has guided many Fortune 500 companies into the future of their business with his thought-provoking research and advisory skills. Within Cognizant’s Center for the Future of Work, he helps ensure that the unit’s original research and analysis jibes with emerging business-technology trends and dynamics in APAC, and collaborates with a wide range of leading thinkers to understand and predict how the future of work will take shape. He most recently served as Vice President, Country Manager with Forrester Research in India. He can be reached at Manish.Bahl@cognizant.com

Source: How Digital Makes Banks Flexible, Responsive And Intimate

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9 Ways Empathy Helps With Inner Growth

Empathy can be best defined as the trait or skill of understanding, sharing, recognizing, and even feeling the emotions, thoughts, and experiences of those around you or those who you see. It is often a crucial skill in developing healthy relationships, moral or ethical decision-making, prosocial behavior, and compassionate attitudes.

Simply put, empathy denotes an ability to walk in the shoes of another person. It can be a complex trait to develop, and some people may believe that empathy is harmful. After all, feeling the pain of others can become tiring. But in moderation, this skill is a fantastic way to improve yourself while helping others. Here are nine ways empathy helps with inner growth.

1.    Empathy Reduces Stress

You may have noticed people who are empathetic seem to experience less stress. Considering how research has shown that stress accuses all sorts of diseases, it raises the question – how does empathy help?

  • It teaches emotional regulation skills.
  • Relating to others in positive ways teaches
  • It engages in our ability to control and handle our emotions in a healthy manner.
  • It helps us recognize where and when we may be feeling stressed or emotional, thanks to observing and empathizing with our loved ones.

Empathy can be best defined as the trait or skill of understanding, sharing, recognizing, and even feeling the emotions, thoughts, and experiences of those around you or those who you see. It is often a crucial skill in developing healthy relationships, moral or ethical decision-making, prosocial behavior, and compassionate attitudes.

Simply put, empathy denotes an ability to walk in the shoes of another person. It can be a complex trait to develop, and some people may believe that empathy is harmful. After all, feeling the pain of others can become tiring. But in moderation, this skill is a fantastic way to improve yourself while helping others. Here are nine ways empathy helps with inner growth.

As you can imagine, this helps you become an emotionally more stable person in the long run – indeed a fundamental thing to any future growth and maturation you wish to experience!

2.    It Improves Your Ability To Communicate

Communication isn’t as simple as an exchange of words. After all, think about the many times you find yourself constantly misunderstood, no matter how hard you try. As it turns out, empathy can teach you how to express yourself better! This outcome is because:

  • You learn how to see, feel, and think from the other person’s perspective.
  • You’ll better understand how your words and thoughts may be interpreted by others.
  • You can tailor your expression of your thoughts and emotions to the individual you’re communicating with, so they can understand you better.
  • You can limit misunderstandings and miscommunications by seeing how the other person would process information from their point of view.

Indeed, you may notice that all of these positive benefits first require you to listen better and understand the other person before you can explain yourself in a way that truly resonates with them. This is why empathy is so important!

3.    It’s Good For General Survival

Historically speaking, being social creatures is the critical reason for our species’ continued survival – and despite how much has changed socially, this hasn’t changed on a fundamental level! Empathy allows us to:

  • Pick up on nonverbal cues that indicate something is amiss
  • Tune in immediately to a situation the second someone starts acting strangely
  • React appropriately to a life-threatening situation you haven’t seen yet, just from the behavior of others in the area
  • Pay attention to abnormal atmospheres or facial features that suggest something is wrong

These examples may sound dramatic, but they can be applicable in all sorts of places – from recognizing when a bar fight is about to erupt to paying attention to a loved one who seems to be quieter than usual.

No matter which way you slice it, empathy may be the critical thing that saves you or your loved one’s life.

4.    It’s Good For Your Health

How are empathy and your physical health related to each other? They’re more intimately intertwined than you might think. Various studies have shown a positive correlation between the ability to handle stress – a source of many health issues – and high levels of empathy.

This is because of empathy:

  • It encourages us to form close bonds that form the basis of our support network.
  • Teaches us how to form healthy coping mechanisms when trying to manage stress.
  • It assists us in paying attention to our bodies as an extension of learning how to observe those around us.
  • Reduces depression and anxiety levels as we communicate and empathize with our loved ones.
  • It helps us create healthy boundaries so we can avoid picking up second-hand stress and negative emotions.
  • Encourages positive thinking and mindsets via reconnecting to the world around us.

This ultimately leads to a better psychological and physiological state, resulting in a much better health and immune system. Not to mention, it’s easier to take care of yourself when you’re mentally and emotionally more stable and healthy!

5.    It Can Guide Your Moral Compass

Normally, we learn empathy and emotional regulation in childhood – something that research has shown is important for our development. But that doesn’t mean our journey stops there!

As we grow older and meet new people, we must continue to learn and adapt to the changing world around us – and in this aspect, empathy is an essential tool. For example, it:

  • It helps us re-evaluate our core values and morals
  • Shapes and guides how we care for others and how we expect to be cared for
  • It shows us how to take care of those around us
  • Encourages us to strive for a better understanding of those we love

In other words, empathy can actually help us reshape our foundational understanding of the world and our relationship with it. This is important, as it can lead to us growing both mentally, emotionally, and spiritually as we strive to meet the needs of our loved ones!

6.    It Connects You To Others

Ever found yourself just sitting there, unsure as to how to respond to someone else? Empathy is actually a vital and helpful tool in this regard!

How so? Research has shown that empathy is responsible for helping us better understand and respond to a loved one’s actions – both in the present and for potential future actions. Here are a few ways how it mentally preps you and encourages you to form positive relationships:

  • It helps us feel and better understand what the other person is experiencing.
  • Teaches us how to reciprocate and make the other person feel seen and heard.
  • It assists us in forming and nurturing intimate bonds where both sides can feel safe and vulnerable.
  • It encourages us to listen to those around us truly and really take the time to be there for them.

The final result? We end up learning not just about experiences we couldn’t otherwise have possibly gotten on our own, but also will likely end up with a close and personal relationship with the other person!

Over time, you will likely find that this sort of behavior cultivates deep, intimate connections that can bring you a sense of peace and stability – an incredibly vital foundation for any further inner growth you wish to achieve.

7.    It Helps Prosocial Behavior

We are only human, so it’s natural to want close, intimate, and meaningful bonds. In fact, it is hardwired into our very DNA – we wouldn’t have gotten this far without that desire to bond with those around us, after all. As you can imagine, this means that the ability to empathize is crucial. This is because it:

  • It teaches us how to become more compassionate and caring
  • It’s crucial to our ability to communicate and connect with others
  • It encourages us to care for and help each other
  • Assists us in being kind and understanding to others around us
  • It tries to make us see things from a different point of view

From there, we then learn how to adjust our behavior and actions to ensure we are doing our best to love and care for those around us. This can then ultimately lead us to create the relationships so fundamental to our emotional and mental wellbeing!

8.    It Fights Burnout

There is some irony in how, in an increasingly connected world, we feel even more lonely. And with that loneliness comes all sorts of mental health struggles and burnout as we struggle with work on our own. But it doesn’t have to be this way.

A study has shown that those workers who are empathetic actually deal with less burnout – something you might find interesting! Here’s how empathy can help you achieve these outcomes:

  • It guides us in how we can communicate with those around us.
  • Assists in the development of soft skills that are crucial to handling conflicts with others.
  • It teaches us how to ensure both sides feel seen and heard.
  • It helps us connect and form meaningful relationships with others.
  • Encourages us to create social networks that can inversely support us in our times of need.
  • Promotes positive thinking as we pull from the experiences of others around us.

With the development of better communication and conflict-management skills, you may find yourself becoming a more emotionally mature and understanding person as you rise against the challenges life throws at you. And it’s all thanks to empathy!

9.    It Improves Your Work

With just how helpful it is when you’re trying to both listen and to be heard, it’s no wonder that empathy forms a core aspect of communication – a vital skill in any team-based work. But there’s more to this than just better communication. Empathy also helps:

  • Negotiating with others to create a solution that meets everyone’s needs and desires
  • Encourages teamwork when trouble-shooting issues
  • Creates an environment of respect and trust
  • It makes people feel valued and involved in any project
  • It makes for a smoother transition and workflow, as you are already paying attention and anticipating the quirks and workstyles of those around you

As you can imagine, these aspects are all super helpful when you’re working on any team-based project. And these skills are transferable too! You can just as easily apply these positive benefits to both your work and your personal life and watch your relationships become better for it! Final Thoughts On Some Ways Empathy Helps With Inner Growth

Empathy is a valuable trait, yet it may seem like it is rapidly declining in today’s world. This can seem discouraging, and some may even worry that being empathetic may open them up to feelings of pain and discomfort.

The lucky truth is that this is not the case. Empathy is crucial for your inner growth and can actually make you stronger, healthier, and more resilient. If you struggle with developing empathy for others, you can speak to a mental health professional for help.

By:

Source: 9 Ways Empathy Helps With Inner Growth | Power of Positivity

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Critics:

Empathy is the capacity to understand or feel what another person is experiencing from within their frame of reference, that is, the capacity to place oneself in another’s position. Definitions of empathy encompass a broad range of emotional states. Types of empathy include cognitive empathy, emotional (or affective) empathy, somatic, and spiritual empathy.

Empathy is generally divided into two major components:

Affective empathy

Affective empathy, also called emotional empathy: the capacity to respond with an appropriate emotion to another’s mental states. Our ability to empathize emotionally is based on emotional contagion: being affected by another’s emotional or arousal state.

Cognitive empathy

Cognitive empathy: the capacity to understand another’s perspective or mental state. The terms social cognition, perspective-taking, theory of mind, and mentalizing are often used synonymously, but due to a lack of studies comparing theory of mind with types of empathy, it is unclear whether these are equivalent.

Although measures of cognitive empathy include self-report questionnaires and behavioral measures, a 2019 meta analysis found only a negligible association between self report and behavioral measures, suggesting that people are generally not able to accurately assess their own cognitive empathy abilities.

Somatic empathy

Why Your Workforce Needs Data Literacy

Organizations that rely on data analysis to make decisions have a significant competitive advantage in overcoming challenges and planning for the future. And yet data access and the skills required to understand the data are, in many organizations, restricted to business intelligence teams and IT specialists.

As enterprises tap into the full potential of their data, leaders must work toward empowering employees to use data in their jobs and to increase performance—individually and as part of a team. This puts data at the heart of decision making across departments and roles and doesn’t restrict innovation to just one function. This strategic choice can foster a data culture—transcending individuals and teams while fundamentally changing an organization’s operations, mindset and identity around data.

Organizations can also instill a data culture by promoting data literacy—because in order for employees to participate in a data culture, they first need to speak the language of data. More than technical proficiency with software, data literacy encompasses the critical thinking skills required to interpret data and communicate its significance to others.

Many employees either don’t feel comfortable using data or aren’t completely prepared to use it. To best close this skills gap and encourage everyone to contribute to a data culture, organizations need executives who use and champion data, training and community programs that accommodate many learning needs and styles, benchmarks for measuring progress and support systems that encourage continuous personal development and growth.

Here’s how organizations can improve their data literacy:

1. LEAD

Employees take direction from leaders who signal their commitment to data literacy, from sharing data insights at meetings to participating in training alongside staff. “It becomes very inspiring when you can show your organization the data and insights that you found and what you did with that information,” said Jennifer Day, vice president of customer strategy and programs at Tableau.

“It takes that leadership at the top to make a commitment to data-driven decision making in order to really instill that across the entire organization.” To develop critical thinking around data, executives might ask questions about how data supported decisions, or they may demonstrate how they used data in their strategic actions. And publicizing success stories and use cases through internal communications draws focus to how different departments use data.

Self-Service Learning

This approach is “for the people who just need to solve a problem—get in and get out,” said Ravi Mistry, one of about three dozen Tableau Zen Masters, professionals selected by Tableau who are masters of the Tableau end-to-end analytics platform and now teach others how to use it.

Reference guides for digital processes and tutorials for specific tasks enable people to bridge minor gaps in knowledge, minimizing frustration and the need to interrupt someone else’s work to ask for help. In addition, forums moderated by data specialists can become indispensable roundups of solutions. Keeping it all on a single learning platform, or perhaps your company’s intranet, makes it easy for employees to look up what they need.

3.Measure

Success Indicators

Performance metrics are critical indicators of how well a data literacy initiative is working. Identify which metrics need to improve as data use increases and assess progress at regular intervals to know where to tweak your training program. Having the right learning targets will improve data literacy in areas that boost business performance.

And quantifying the business value generated by data literacy programs can encourage buy-in from executives. Ultimately, collecting metrics, use cases and testimonials can help the organization show a strong correlation between higher data literacy and better business outcomes.

4.Support

Knowledge Curators

Enlisting data specialists like analysts to showcase the benefits of using data helps make data more accessible to novices. Mistry, the Tableau Zen Master, referred to analysts who function in this capacity as “knowledge curators” guiding their peers on how to successfully use data in their roles. “The objective is to make sure everyone has a base level of analysis that they can do,” he said.

This is a shift from traditional business intelligence models in which analysts and IT professionals collect and analyze data for the entire company. Internal data experts can also offer office hours to help employees complete specific projects, troubleshoot problems and brainstorm different ways to look at data.

What’s most effective depends on the company and its workforce: The right data literacy program will implement training, software tools and digital processes that motivate employees to continuously learn and refine their skills, while encouraging data-driven thinking as a core practice.

For more information on how you can improve data literacy throughout your organization, read these resources from Tableau:

The Data Culture Playbook: Start Becoming A Data-Driven Organization

Forrester Consulting Study: Bridging The Great Data Literacy Gap

Data Literacy For All: A Free Self-Guided Course Covering Foundational Concepts

By: Natasha Stokes

Source: Why Your Workforce Needs Data Literacy

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Critics:

As data collection and data sharing become routine and data analysis and big data become common ideas in the news, business, government and society, it becomes more and more important for students, citizens, and readers to have some data literacy. The concept is associated with data science, which is concerned with data analysis, usually through automated means, and the interpretation and application of the results.

Data literacy is distinguished from statistical literacy since it involves understanding what data mean, including the ability to read graphs and charts as well as draw conclusions from data. Statistical literacy, on the other hand, refers to the “ability to read and interpret summary statistics in everyday media” such as graphs, tables, statements, surveys, and studies.

As guides for finding and using information, librarians lead workshops on data literacy for students and researchers, and also work on developing their own data literacy skills. A set of core competencies and contents that can be used as an adaptable common framework of reference in library instructional programs across institutions and disciplines has been proposed.

Resources created by librarians include MIT‘s Data Management and Publishing tutorial, the EDINA Research Data Management Training (MANTRA), the University of Edinburgh’s Data Library and the University of Minnesota libraries’ Data Management Course for Structural Engineers.

See also

3 Initial Steps To Doing Your Own Public Relations and Getting Excellent Results

3 Initial Steps to Doing Your Own PR and Getting Excellent Results

It’s a classic symbiotic relationship. Entrepreneurs need exposure in the press and the media need information from brands to fill their pages. It should be a balanced partnership then yes? Well… not always. The problem comes when you’re simply not giving the media what they can use, i.e. what’s of interest to their particular readers.

Often this is down to not understanding how journalists work and what they want, but also it can be down to laziness on the part of inhouse or agency PRs who persist in sending mass mailouts to already overserved press.

You may not believe it, but It’s actually surprisingly easy to be featured in the press. And you don’t have to have budgets large enough to employ the services of a PR agency which can easily cost £5 to £10K plus a month plus disbursements (expenses) just for the most basic of services.

You just need to follow the following steps.

1. Select the media titles your potential and existing audience actually reads.

How?  Well, try taking a sample of your social media followers and have a look at what media they are following. That’s an easy start. And don’t be afraid to pop a post up asking them to name or even vote for their favourite titles too.

Also conduct a simple Google search for media titles that reach your existing and potential customers and industry sector.

There are professional media databases which you can use to compile media lists but these can be expensive. If your budget is tight you could consider buddying up with another entrepreneur and splitting the cost.

Be reassured though, it’s really not about the AMOUNT of titles you target, but targeting the RIGHT ONES – i.e. the media that’s actually consumed by your target audience (you of course need to have defined this first).

Think beyond just national newspapers and magazines too. Consider TV and radio programmes, podcasts, social media influencers, smaller local/regional titles. And also titles that might not at first seem an obvious choice. For example, if you have a food or drinks brand, depending on its type and price points, you could consider wellness titles, health & fitness titles, luxury lifestyle blogs, TV programmes with a focus on nutrition or weight loss, parenting titles, supermarket magazines.

Don’t stick your nose up at these – most, including Waitrose’s monthly magazine actually have amazing reach, a fantastic reputation, wonderful production values and loyal readers.  And in the UK, Asda’s magazine has one of the highest circulations and readerships of all print titles.

2. Find the contact details of the best person to approach.

What you also need to do, is find the names and email addresses of the best editors and journalists to actually contact.

This again isn’t as hard as you may think. Most publications have what we call in the trade, a “flannel panel,” AKA a section in the magazine, often near the front, which details all the staff and their roles. On websites it’s usually under About Us or Contact Us.

Look through these and find the journalist or editor responsible for the content that’s the best fit for your product or service. You can also go on to the media title’s publisher’s website and often find contacts there.

And LinkedIn can be another great source – here you can often find email addresses too and if you are a Premium member, reach out direct too. Failing this, a quick phone call to reception will usually reap rewards.

Bear in mind, Editors and Editor’s in Chief aren’t always the best initial contacts to approach because they typically get inundated with emails and requests. It’s often better to find the details of the staff journalists covering the content most relevant to you and approaching them. Larger publications have what’s called “Commissioning Editors” and these are the people to pitch in to. Usually they deal with journalists pitching in, but there’s no harm in you doing this do. I’ll be covering how to pitch well in another article so look out for this.

It’s worth considering targeting the title’s website editorial staff as well as those in the magazine or newspaper as it’s often much easier to get content picked up for online use as there’s unlimited space, whereas a magazine only has a finite number of pages available per issue.

Don’t forget about freelance journalists too – these can be a fantastic way in. Twitter, LinkedIn – both can be very useful sources here. Start to follow #journorequest on Twitter and you’ll see what journalists are seeking, and responding to this can be an excellent, not to mention free, way of connecting to and building relationships with journalists.

3. Provide content they will want to use.

How do you know what information to give your chosen media? The first step is to be really clear on exactly what topics they cover.  It’s pretty straightforward to discover this – look at the content they already use, across as many of their media platforms as you can. Observing the regular content categories they have is quick way to gauge what’s called their “editorial pillars,” the key content their publication carries. By this I mean look at the primary content headings on a website, or contents’ page in a magazine. Hashtags they use on their socials can be a handy clue, too.

The second step is to look at the format of this content – length, tone – is it informal and friendly or more authoritative and serious, and if it tends to be more text led or image heavy. Also note if the content is typically presented as an interview, or a first person column, “Editor’s Pick,” a listicle (i.e. a Top 10 kind of piece) – this kind of thing.

By now you will know what topics they cover and in what style. Step three is to decide what information you want to communicate to these readers, that matches this, and pitch this in to the journalist or editor – or package into a press release. Do consider media titles always prefer to carry unique content – not information that’s been offered and taken up by their rivals, so you will need to create pitches and press releases that are tailored.

Pitches and press releases are usually sent as a simple, short email. I will cover creating these in detail in articles to follow, but essentially you need to communicate what your story is (the topic and specific angle), why it’s right for that title and is newsworthy for publication now – all in the most interesting way as possible.

It’s an art to make your pitches or press releases stand out for the right reasons when a journalist could receive hundreds of these a week, but, with some guidance and practice there’s no reason why you won’t be able to craft these as well as a PR agency and reap the considerable rewards press exposure can bring.

By: Lisa Curtiss / Entrepreneur Leadership Network VIP

Source: 3 Initial Steps to Doing Your Own PR and Getting Excellent Results

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Critics:

Public relations (PR) is the practice of deliberately managing the release and spread of information between an individual or an organization (such as a business, government agency, or a nonprofit organization) and the public in order to affect the public perception. Public relations (PR) and publicity differ in that PR is controlled internally, whereas publicity is not controlled and contributed by external parties.

Public relations may include an organization or individual gaining exposure to their audiences using topics of public interest and news items that do not require direct payment. This differentiates it from advertising as a form of marketing communications. Public relations aims to create or obtain coverage for clients for free, also known as earned media, rather than paying for marketing or advertising. But in the early 21st century, advertising is also a part of broader PR activities.

An example of good public relations would be generating an article featuring a PR firm’s client, rather than paying for the client to be advertised next to the article. The aim of public relations is to inform the public, prospective customers, investors, partners, employees, and other stakeholders, and ultimately persuade them to maintain a positive or favorable view about the organization, its leadership, products, or political decisions.

Public relations professionals typically work for PR and marketing firms, businesses and companies, government, and public officials as public information officers and nongovernmental organizations, and nonprofit organizations. Jobs central to public relations include account coordinator, account executive, account supervisor, and media relations manager.

Public relations specialists establish and maintain relationships with an organization’s target audience, the media, relevant trade media, and other opinion leaders. Common responsibilities include designing communications campaigns, writing press releases and other content for news, working with the press, arranging interviews for company spokespeople, writing speeches for company leaders, acting as an organization’s spokesperson, preparing clients for press conferences, media interviews and speeches, writing website and social media content, managing company reputation (crisis management), managing internal communications, and marketing activities like brand awareness and event management.

Success in the field of public relations requires a deep understanding of the interests and concerns of each of the company’s many stakeholders. The public relations professional must know how to effectively address those concerns using the most powerful tool of the public relations trade, which is publicity.

Specific public relations disciplines include:

  • Financial public relations – communicating financial results and business strategy
  • Consumer/lifestyle public relations – gaining publicity for a particular product or service
  • Crisis communication – responding in a crisis
  • Internal communications – communicating within the company itself
  • Government relations – engaging government departments to influence public policy
  • Media relations – a public relations function that involves building and maintaining close relationships with the news media so that they can sell and promote a business.
  • Social Media/Community Marketing – in today’s climate, public relations professionals leverage social media marketing to distribute messages about their clients to desired target markets
  • In-house public relations – a public relations professional hired to manage press and publicity campaigns for the company that hired them.
  • ‘Black Hat PR’ – manipulating public profiles under the guise of neutral commentators or voices, or engaging to actively damage or undermine the reputations of the rival or targeted individuals or organizations.

See also

 

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