pr and corporate objective

7/31/2019 PR and Corporate Objective

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PUBLIC RELATIONS

AND CORPORATEOBJECTIVE

By Mobolaji OkusagaManaging Director, The Quadrant Company


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Whats Your Companys Objective?

Corporate Objective articulates a Companys manner ofdoing business and the kind of relationships it need tocreate with its Stakeholders to deliver on its purpose

These objectives are encapsulated in the organisations

mission, vision and culture and help set the tone forinteractions with its Stakeholders

Corporate Objective asks the questions: What is thepurpose of our organisation? What value do we intend tocreate? What kind of ideals bind our stakeholders

together? By answering these questions, Corporate objective helps

an Organisation to differentiate, plan, execute and deliverexceptional performance


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Identifying your Stakeholders

Anyone on the Street

Influencers

Core Target


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The Organisation and its Stakeholders

EMPLOYEES

MEDIA

SUPPLIERS

COMPETITORS

SHAREHOLDERS

GOVERNMENT

GENERAL

PUBLIC

CUSTOMERS

THE

ORGANISATION


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What are the Demands ofStakeholder Engagement?

Every organisation relates with different publics -from the Shareholders, Staff, Customers,Industrial Unions, Government and Regulatory

Bodies, Counter-parties, the Press to the localcommunity. These stakeholders are different in terms of their

interests and expectation from the organisation

The organisation therefore needs a deep-seatedunderstanding of these interests andexpectations to maintain a dialogue, enhancerelationships and retain its goodwill among itsstakeholders.


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Outcomes of a Sound CorporateObjective Products / Service Quality / Technology

Leadership Increased Sales

Preference for Companys Products / Service Customer Acquisition / Quality of Customers Growth in Market Share / Market Leadership Turn-over

Operating Margin Gross Profit Market Capitalisation / Stock Price Attraction and Retention of Quality Employees


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Public Relations in Organisation-

Stakeholder Dialogue Public Relations is the art and science of building relationships

between an organization and its key publics .

Public Relations engenders purposeful communications between anorganisation and its publics, it is proactive and future orientated, andhas the goal of building and maintaining a positive perception of anorganisation in the mind of its publics.

In the dialogue between Organisations and their stakeholders, thefollowing branches of Public Relations suffice:

Employee / Labour Relations Customer Relations

Investor Relations Media Relations Government Relations Community Relations Reputation Management Issues Management

Crisis Management


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Its Implication

Generally, Public Relations function as the conduit of the organisation to theworld outside

Public Relations practitioners must therefore, be abreast with theirorganisations vision, mission, strategy, corporate concern and culture

They also need to understand their place in their companys overall objectiveand to understand the market environment in which their organisation operates

The Public Relations Executive should read the competitive landscape and beable to predict the move of competition

He /She needs to be able to identify the organisations different stakeholdersand the varying expectations that arise from operations and interaction withthese stakeholders

Finally, the Public Relations Practitioner must be able to relate his activitieswith the drive at achieving the organisations objectives.


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POTENTIALEMPLOYEES

EMPLOYEES

DISTRIBUTION / CHANNELPARTNERS

MAJORCUSTOMERS

REGULATORS

FINANCIAL ANALYST / BUSINESS PRESS

BUSINESS LEADERS

COMMUNITIES

PORTFOLIO MANAGERS / INVESTORS

CONSUMERS

Stakeholder Relationships

Source: Regis McKenna


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Expectation from Relationships

EMPLOYEES / POTENTIALEMPLOYEES

CUSTOMERS

DISTRIBUTION / CHANNELPARTNERS

REGULATORS

COMMUNITIES

Career Opportunities,

Competitive

Remuneration,

Good Management

Trustworthy, Good/Successful

Products

Attract Customers, Make Sales

Ethical, Compliant

Philanthropy, Good Corporate

Citizenship


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Elements of a Good Message

Messages disseminated must be withinthe Stakeholders frame of Reference

Must be relevant and useful to theStockholder's need

Should be distinctive and distinguishable

from that of competition

Should be able to compel positive action

Should deliver intended value


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Developing PR Objectives

In developing objectives which arescientific, it is essential to include precise

milestones that evaluate progress in therealization of set aspirations. Thisprocess may include the following:

1. Map desired communications outcome

2. Spot target segment for desired outcome

3. State expected level of success

4. Identify timeframe for target outcome


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Understanding Strategies and

Tactics Strategies are logical and systemic outlines for

the attainment of desired goals.

It basically considers the big-picture rather thandetails.

Tactics are detailed plans designed for theactualization of strategies. Tactics identifiespersonnel, timelines, budget and the structurefor the attainment of set objectives.


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The Five Steps of Strategic PR Management

Craft a

Strategy

to Achieve

Objectives

Set

Objectives

Develop a

Strategic

Vision

and

Mission

Implement

and

Execute

Strategy

Improve/Change

Revise asNeeded

Revise asNeeded

Improve/Change

Recycleas Needed

Step 1 Step2 Step 3 Step4 Step 5Monitor,

Evaluate,

and Take

Corrective

Action


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Communication MatrixTARGET EXPECTATIO

NDESIREDACTION

CORPORATEOBJECTIVE

MESSAGE COMMSTRATEGY

METRIC

LABOUR

UNIONS

Positive outcome of

outstanding Staffissues

Information on StaffWelfare

understand

Managementsposition

contentious Staffissues

Spread apositive buzz oncareerdevelopmentand staff welfare

Reduce Staff

AttritionCreate aharmoniousorganisation /labour relationship

Attract the besttalents in theindustry

Best place to

workUnderstandsworking smart

Developsindustrys best

hands

Proactive

response to Staffenquires

Build goodinternalcommunications&Information Flow

Establish Monthly

In-house Journal

Obtain 2x

competitorscommendation ofin Labour Articles

Generate 2xcompetitors buzz

on good staffwelfare and attract

best industrytalents

CUSTOMERS Quality ProductsSatisfaction ofneeds

Innovation

Trust

Buy andrecommendcompanys

products

Increase marketshare

Widen CustomerBase

Differentiate andengenderpreference forproducts abovecompetitorsofferings

Best ProductsLeadership givesaccess to newmarkets

Easy to dobusiness with

Where thecustomer is trulya king

Drive preferenceby providing andcampaigninghighest standards

Leverageconstant two waycommunicationsby constantlyrequestingfeedback

Develop internetsite as businesstool

2x number ofcompetitors lead

100% increase inproductpreferenceagainstcompetitors

PRESS /FINANCIAL

ANALYST

News onDevelopments

within the

Organisation

Company

Financial Results

Positive

Articles onCompanys

Financials and

Activities

Recommend

Stock to investing

Public

Continuous

coverage

Increase share ofindustry voice

Generate stability

Through good and

Consistently

improving Financial

performance

Best product sCustomer

friendly

Companys

Performance

exceed

industry

leaders

Speaking

Engagements

Opinion

Articles

Upgrade IR

Website

Focus Road

shows on

priorities


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MEASURING PUBLIC

RELATIONS OUTCOMESAGAINST CORPORATEOBJECTIVES


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Why Measure?

Guts does not cut it anymore, youve got

to be able to justify your activities.

If you arent measuring, you are notmanaging your budget effectively anddeserve to be fired.

Without data, how do you know whatsworking and when to intensify ordiscontinue a line of action.


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Industry Best Practice

Competitive analysis is compulsory in measuringyour success.

Analysis of messaging, positioning and issuesidentification are the norm.

Analyst and quote measurement are some of thelatest trends.

Integrating media analysis with web activity andcustomer outcomes is starting to emerge as apervasive trend in the developed world.


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