MarTech Podcast™ Episode Summary: Landscape Of PR Tech

Podcast Information:

• Title: MarTech Podcast ™ // Marketing + Technology = Business Growth
• Host: Benjamin Shapiro
• Guest: Jerry Towsley, Head of Marketing at BusinessWire
• Episode: Landscape Of PR Tech
• Release Date: December 5, 2024

1. Introduction

In this insightful episode of the MarTech Podcast™, host Benjamin Shapiro engages with Jerry Towsley, the Head of Marketing at BusinessWire, to explore the evolving landscape of Public Relations (PR) technology. The discussion delves into how PR integrates with marketing strategies, the essential tools in the PR tech stack, the future influence of artificial intelligence (AI) on PR, and effective methods for measuring PR impact.

2. Understanding the Current PR Tech Landscape

Shapiro initiates the conversation by seeking a comprehensive overview of the current PR technology landscape. Using a metaphor of navigating a theme park, Shapiro prompts Towsley to "give me the lay of the land" regarding PR tech.

Key Insights:

• Integration of Technology in PR: PR technology encompasses a variety of tools aimed at enhancing media monitoring, relationship building, content distribution, and analytics.
• Dynamic Nature: The PR tech landscape is continually evolving, influenced by advancements in technology and changing marketing needs.

3. The Essential PR Tech Stack

Towsley breaks down the PR tech stack into several critical components, emphasizing their roles in creating a robust PR strategy.

Components of the PR Tech Stack:

• Media Monitoring: Tools like Meltwater and Critical Mention are essential for tracking media coverage and analyzing the reach and impact of PR activities. Towsley mentions, "Meltwater is a big one and they provide analytics as well" (03:06).

• Relationship Building: Platforms such as Muckrack facilitate the identification and engagement with journalists, enabling effective outreach and relationship management. Towsley highlights, "You identify journalists, you do outreach to journalists, you build ongoing relationships" (03:15).

• Newswire Distribution: BusinessWire itself plays a pivotal role in the distribution of press releases, ensuring targeted and secure dissemination of news to the appropriate audiences. Towsley explains, "You need the media monitoring and analytics, you need media management, relationship building with journalists. And then you need a newswire like Business Wire" (03:43).

• Tracking & Analytics: Implementing dashboards to monitor PR activities and their impact is crucial for assessing effectiveness. Towsley advises, "I want a dashboard. I want to be able to track our activity and track its impact in our other activities" (03:03).

Host's Perspective: Shapiro reorders the tech stack logically, emphasizing the foundation of relationship building before distribution and monitoring. He states, "Where to me the relationship building component is first, understanding who the journalists are... then you have your news wires and distribution" (04:50).

4. The Future Impact of AI on PR Tech

Shapiro poses a forward-looking question about the influence of AI on PR technology, to which Towsley responds thoughtfully.

Towsley's Vision on AI in PR:

• Generative Content: AI can revolutionize content creation within PR by automating the generation of press releases and tailored stories. "PR is all about content... Where? I'll tell you where BusinessWire thinks it's going and what we're focusing on is more on the research and analytics side" (07:15).

• Advanced Analytics: AI can enhance PR analytics by integrating PR data with demand generation metrics, offering deeper insights into how PR activities influence lead acquisition and conversion. Towsley elaborates, "How can you track it more effectively to your other channels than we're able to do today... AI can take that to the next level" (08:39).

Host's Reflection: Shapiro provides a practical example of AI's potential, illustrating how AI could attribute organic traffic spikes to specific PR activities. "Using artificial intelligence, can you tell what is coming through on organic traffic that is likely to have been influenced by that marketing activity" (10:15).

5. Measuring PR Impact: The Secret Sauce

One of the episode's focal points is the effective measurement of PR's impact on business outcomes. Towsley refers to this as the "secret sauce," emphasizing a multifaceted approach.

Key Elements of Measuring PR Impact:

• Engagement Tracking: Monitoring how PR activities generate buzz and engagement across media channels. "Are you building relationships with journalists and what are the results of those relationships?" (11:35).

• Correlation with Sales Metrics: Linking PR efforts to sales outcomes, such as lead velocity and time to close, to demonstrate tangible business value. Towsley states, "The secret sauce is connecting that bounce to revenue and showing the correlation" (12:07).

• Incremental Lead Generation: Assessing the additional leads generated through PR activities and their progression through the sales funnel. "Are you impacting the time to revenue, the time to close?" (12:07).

Host's Analytical Approach: Shapiro discusses the complexities of attributing PR activities to specific business results, questioning the timeframes necessary for accurate measurement. "There's a proofing period... How do you think about the proofing time?" (13:03).

6. Challenges in PR Measurement

The conversation acknowledges the inherent challenges in quantifying PR's effectiveness, primarily due to its long-term nature and the difficulty in isolating its impact from other marketing efforts.

Challenges Highlighted:

• Long-Term Impact: PR often influences business outcomes over extended periods, making immediate attribution challenging. "The time you have to wait to measure and analyze a PR campaign" (14:27).

• Attribution Complexity: Differentiating PR-driven results from other marketing channels requires sophisticated tracking and analysis tools. Shapiro remarks, "It's very difficult to say we did PR for six months and then we didn't do PR for six months and measure the difference" (16:02).

• Consistency and Patience: Successful PR measurement demands sustained effort and patience to build relevant data over time. Towsley advises, "You have to have a body of time to be able to go back and look at it" (14:27).

Towsley's Advice: To overcome these challenges, maintaining a consistent PR program and leveraging robust analytics tools are essential. "Have a consistent program, have those channels that we talked about, have the technology to be able to place, distribute, track, monitor and analyze and it will pay off" (17:17).

7. Final Thoughts and Recommendations

As the episode concludes, both hosts offer valuable insights into the strategic importance of PR within the marketing mix.

Towsley's Final Message: Investing in PR is a long-term strategy that requires building stories, narratives, and relationships with the media. "Look at it as a lot of short term work for long term benefit" (17:17).

Shapiro's Closing Reflection: He likens PR to owned media, emphasizing that consistent efforts yield significant long-term benefits. "PR is not a short term gain. It is a primarily brand channel that will grow over time the more you invest in it" (18:07).

Notable Quotes:

• Jerry Towsley (03:03):

  "I want a dashboard. I want to be able to track our activity and track its impact in our other activities."

• Jerry Towsley (07:15):

  "PR is all about content... We're focusing on more on the research and analytics side."

• Jerry Towsley (12:07):

  "The secret sauce is connecting that bounce to revenue and showing the correlation."

• Benjamin Shapiro (16:02):

  "It's very difficult to say we did PR for six months and then we didn't do PR for six months and measure the difference."

• Jerry Towsley (17:17):

  "Look at it as a lot of short term work for long term benefit."

Conclusion

This episode of the MarTech Podcast™ offers a comprehensive exploration of the current and future state of PR technology. Jerry Towsley's expertise provides invaluable guidance on building a robust PR strategy, leveraging technology for effective media engagement, and implementing advanced analytics to measure PR's impact on business growth. For marketers seeking to integrate PR more effectively into their strategies, this discussion underscores the importance of consistency, relationship building, and leveraging emerging technologies like AI to enhance PR outcomes.

Connect with Jerry Towsley:

• LinkedIn: Jerry Towsley
• BusinessWire Website: businesswire.com

Stay Updated with MarTech Podcast™:

• Website: martechpod.com
• YouTube: MarTech Podcast™