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Here are some of the biggest movers of the day:
Stock gainers:
Shares of Pinterest Inc.
PINS,
were gaining 4% after an Evercore ISI analyst moved to a bullish stance, cheering better advertising-market conditions and improvements made by Chief Executive Bill Ready, who is about a year into his stint.
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Funds associated with Cathie Wood’s ARK Investment continued to cull shares of Coinbase Global Inc. and Tesla Inc. on Monday, according to recent trade disclosures.
The ARK Fintech Innovation ETF
ARKF,
dumped 76,788 Coinbase shares
COIN,
on the day, while the ARK Innovation ETF
ARKK,
sold 127,266 and the ARK Next Generation Internet ETF
ARKW,
sold 44,784 shares.
Those were worth $26.3 million based on Coinbase’s Monday closing price of $105.55, and the sales follow ARK’s move to dump about $50 million in Coinbase’s stock Friday.
Coinbase represents 0.78% of the Fintech Innovation ETF, along with 0.15% of the Innovation ETF and 0.30% of the Next Generation Internet ETF. ARK disclosed the transactions and weightings in the daily trade notifications it posts to its website.
Read: Coinbase’s spectacular stock surge after Ripple ruling sparks fierce debate
Meanwhile, the ARK Innovation ETF shed 38,329 Tesla shares
TSLA,
on Monday, while the ARK Next Generation Internet ETF sold 6,855. Those shares were worth $13.1 million based on Tesla’s Monday closing level of $290.38. Tesla represents about 0.12% of both funds as they continue to unload shares.
Don’t miss: Tesla is looking at its best sales quarter ever
ARK scooped up 455 shares of Meta Platforms Inc.
META,
within its Next Generation Internet ETF and bought up 3,729 shares within the ARK Innovation ETF. That amounted to $1.3 million worth of stock based on Meta’s $310.62 Monday close.
Two ARK funds bought a combined $790 million in Robinhood Markets Inc.’s stock
HOOD,
with the fintech fund scooping up 25,641 shares and the Next Generation Internet ETF buying 37,630 shares. ARK added 4,608 shares of SoFi Technologies Inc.
SOFI,
to the fintech fund, worth $43,683 based on Monday’s close.
See also: SoFi’s stock catches another downgrade as analyst says it ‘needs to be valued more like a bank’
ARK was also active in shares of Twilio Inc.
TWLO,
buying 15,702 within the Fintech Innovation ETF, 133,499 within the Innovation ETF and 22,748 within the Next Generation Internet ETF. That amounted to $11.4 million in Twilio’s stock based on Monday’s $66.47 closing price.
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JPMorgan Chase & Co. Chief Executive Jamie Dimon on Friday said the U.S. economy was basically doing OK, even if customers were spending “a little more slowly.”
But with rivals like Bank of America Corp., Goldman Sachs Group Inc. and American Express Co. set to report quarterly results this week, recession agita still prevails.
For evidence, look no further than JPMorgan’s
JPM,
own quarterly results. The bank’s second-quarter profit blew past expectations, but it set aside $2.9 billion during the second quarter to cover potentially bad loans, amid concerns that more consumers could run into more difficulty paying their bills on time as higher prices manage to stick at stores.
That figure was well up from $1.1 billion in the same quarter last year, although still far below the billions it stowed away when the pandemic first hit. Similarly, Wells Fargo & Co.
WFC,
on Friday set aside $1.7 billion for loan losses in this year’s second quarter, nearly triple what it was a year ago.
The figures underscore the anxiety over the second half of this year, when many economists expect the economy to tilt into a recession. However, for the 500 companies in the S&P 500 index, Wall Street analysts still expect profit growth.
Any downturn could be exacerbated by the pressure investors have put on companies, potentially via more layoffs and money-saving technology, to keep prices high and cut costs to replicate the abnormally large profit-margin gains they put up in 2021 and 2022. Businesses have indeed kept prices high, at least for many basic necessities, in an effort to cover their own higher costs and to pad profits.
When Bank of America
BAC,
reports this week, the results will narrow the lens on lending and spending in the U.S. Results from Morgan Stanley
MS,
and Goldman Sachs
GS,
will fill in the gaps on trading and deal-making. American Express
AXP,
will give a more detailed breakdown of what consumers are still spending their money on, after Delta Air Lines Inc.
DAL,
— which has a partnership with AmEx — said that travel demand remained “robust.”
Banks shoveled more money into their reserve stockpiles in 2020 to bulk up against the pandemic’s shutdown of the economy. A year later, they started releasing those funds as the economy reopened and recovered. FactSet expects the broader banking sector to plump up its cash cushion during this year’s second quarter to account for more late loan payments or potential defaults.
In a report on Friday, FactSet said the 15 banking-industry companies in the S&P 500 Index tracked by the firm were on pace to set aside $9.9 billion to cover losses from souring loans in the second quarter. That’s more than double the amount set aside a year ago. And if that $9.9 billion figure, based on actual and projected financial figures, ends up as the actual figure at the end of the quarter, it would mark the highest since the beginning of the pandemic and the third highest in five years, according to FactSet data.
“The U.S. economy continues to be resilient,” Dimon said in a statement on Friday. “Consumer balance sheets remain healthy, and consumers are spending, albeit a little more slowly. Labor markets have softened somewhat, but job growth remains strong.”
However, he noted difficulties in JPMorgan’s investment banking segment. And he said consumer savings were slowly eroding as inflation endures.
As the nation’s biggest bank, JPMorgan has flexed its financial muscle this year, swallowing up First Republic after that bank got into trouble. But as it consolidates power and influence, building thicker armor against shocks to the economy, its financial results might not always reflect the struggles of its smaller rivals, where difficulties are likely felt more acutely. Analysts at Raymond James said that while JPMorgan remained a “best in breed” bank, its outlook pointed to “heightened challenges for smaller banks.”
See also: Jamie Dimon says U.S. consumers are in ‘good shape.’ This evidence may prove otherwise.
For the week ahead, 60 S&P 500 companies, including five from the Dow, will report quarterly results, according to FactSet. Two big oil companies, Halliburton Co.
HAL,
and Baker Hughes Co.,
BKR,
will report, as oil prices fall from levels seen last year. Results from two transportation giants — trucking company J.B. Hunt Transport Services
JBHT,
and railroad operator CSX Corp.
CSX,
— will also be a proxy for how much people are buying things and having them shipped. United Airlines Holdings Inc.
UAL,
and American Airlines Group
AAL,
will also report.
Netflix results: Hollywood shutdown, ‘slow-growth’ expectations. Hollywood’s writers — and now its actors — have gone on strike, and Netflix Inc.
NFLX,
reports second-quarter results on Wednesday. The streaming platform will likely face questions over how much content it has left in the tank, as the strike upends studio-production schedules and leaves viewers with vast expanses of reruns. Still, Macquarie analyst Tim Nollen said that the production standstill “may ironically drive even more viewers to streaming services.”
The writers and actors argue that the studio industry — increasingly consolidated, increasingly publicly traded, increasingly oriented around a handful of film franchises — has profited immensely while skimping on things benefits and streaming residuals. But after a decade-long rise, and a recent shift in investor focus from subscriber growth to profit growth, Netflix has emerged as one of the biggest production powerhouses in the business. And after years of flooding customers with new films and shows, it’s trying to squeeze out sales via more boring ways: things like a password-sharing crackdown and ads.
Daniel Morgan, senior portfolio at Synovus Trust Co., said Netflix still faced a plenty of streaming competition amid “muted” subscriber growth. But Wedbush analyst Michael Pachter said investors should look at Netflix as a profitable, albeit more mature company.
“We think Netflix is well-positioned in this murky environment as streamers are shifting strategy, and should be valued as an immensely profitable, slow-growth company,” Pachter said in a research note on Friday.
“Even while the ad-supported tier is not yet directly accretive (we think it will be accretive over time), the ad-tier should continue to reduce churn and draw new subscribers to the service,” he continued.
Tesla sales. Electric-vehicle maker Tesla Inc. also reports second-quarter results on Wednesday. And like streaming, some analysts say the fervor for EVs has faded.
However, they also said that Tesla
TSLA,
had so far been immune from the malaise. And even though Elon Musk remains preoccupied with Twitter — which now faces competition from Meta Platforms Inc.’s
META,
Threads — Tesla’s second-quarter deliveries were far above expectations. Sales are expected to be big. And one analyst said that price cuts, which Tesla has used to capture more of the auto market in China, were likely “fairly minimal” during the second quarter. But some analysts wondered what the blowout delivery figures would mean for margins. And the industry, broadly, has increasingly tested the patience of profit-minded investors.
“We’ve now seen a market where demand is constrained, capital has been tighter, and there is less tolerance for EV related losses,” Barclays analysts said in a note last week, adding that there was a “step back from EV euphoria.”
Claudia Assis contributed reporting.
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The Federal Trade Commission on Thursday asked an appeals court to temporarily block Microsoft Corp.’s $69 billion acquisition of Activision Blizzard Inc. while it challenges a ruling earlier this week green-lighting the deal.
The FTC on Thursday asked U.S. District Judge Jacqueline Scott Corley to postpone her ruling — which she promptly denied — and also appealed to the Ninth U.S. Circuit Court of Appeals in San Francisco to pause the acquisition “to preserve the status quo” while the case is reviewed, claiming it is likely to succeed in its appeal.
According to the filing, the FTC claims the judge applied the wrong legal standard to its request for a preliminary injunction, and erred in a number of other matters.
The deal is set to close in the coming days, and letting it happen will “irreparably harm the public interest and the FTC,” regulators said.
Also see: GOP blasts FTC Chair Khan as a ‘bully’ after agency’s loss in Microsoft case
In a response filed with the court, Microsoft said the FTC “failed to carry its burden on independent, fact-based grounds” and “dragged its heels” before appealing.
“The court has already found that it would be inequitable” to order an injunction that could lead to “the potential scuttling of the merger,” Microsoft said, in asking for the FTC’s request to be denied.
The FTC has claimed the tie-up of a major videogame platform — Microsoft’s
MSFT,
Xbox — with a major videogame publisher — Activision
ATVI,
makes the wildly popular “Call of Duty,” among other titles — would be harmful to the videogame industry and consumers.
Microsoft has pledged to keep “Call of Duty” available to Sony’s
SONY,
PlayStation console for 10 years, and will make it available for Nintendo’s
7974,
Switch and some cloud-gaming platforms.
In her ruling clearing the deal Tuesday, Corley said the FTC did not show “this particular vertical merger in this specific industry may substantially lessen competition.”
Bloomberg News reported late Thursday that Microsoft and Activision are considering giving up some control of their cloud-gaming business in the U.K. to win approval of British regulators, who — if the U.S. appeals court does not act — are the final hurdle to the deal closing on time.
FTC Chair Lina Khan testified on Capitol Hill on Thursday, where Republican lawmakers assailed her actions and sharply criticized her agency’s court losses in trying to block the Microsoft-Activision deal and Meta’s
META,
acquisition of a virtual-reality gaming company earlier this year.
Read more: After Microsoft defeat, ‘toothless’ FTC needs to pick better battles if it wants to rein in Big Tech
Also: FTC’s probe of OpenAI marks key moment in Khan’s push to rein in Big Tech
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Opinions expressed by Entrepreneur contributors are their own.
When I think of branding, my inner journalist relates the word to the concept of storytelling. Effective branding takes prospects on a journey where they fully understand what you do, why and how.
Beyond that, a genuinely magnetic brand is polarizing and unique. The more magnetic a brand is, the less it needs to compete for new clients. With its unique positioning and compelling value proposition, prospects and new clients are naturally drawn to such a brand.
As someone who’s worked in sales and public relations for almost a decade, I know how hard it can be to create a brand with genuine gravitas. Here are some branding principles that can help your business shift from looking for new clients to having new clients look for you.
Related: 5 Timeless Storytelling Strategies to Use in Your Next Marketing Campaign
When your client pays for your brand’s services, they have identified an emotional gap between where they are and where they want to be after your intervention. Magnetic branding empathizes with prospects and communicates an understanding of the value of its services.
Humans are emotional beings; we only do business with companies we know, like and trust. For our brands to evoke a sense of confidence in our clients, we have to ensure that we not only know how to bridge our clients’ gaps but that our clients know that we know how to do so too. Our prospects love to see structure, process and general planning regarding our services. Again, storytelling is critical as your customers want to journey with your services.
A common mistake we tend to make when branding is that our storytelling is long-winded and broad. We often overcommunicate the services offered and overestimate our prospects’ attention spans. In this digital age, we collectively suffer from information overload. That said, our responsibility as branders is to ensure we are concise and accessible when communicating our value. The easier a prospect understands how we can help them achieve what they want, the greater the chance we convert them as a client.
If you asked your prospects if they understood what you offered, would they be able to answer quickly and clearly? If not, perhaps that’s a sign you need to work on this principle.
What unique things do you do best that add to your value proposition? How do you differ from your competition? These are questions to consider, for the more unique your offer is in your niche, the more you may find clients that work with you because you’re so different. If your brand doesn’t have much unique value, perhaps reflecting on how you can grow as a business and person would be helpful.
Collecting and showcasing testimonials is a great way to build trust with your leads and prospects. However, beyond just featuring your past clients on your social media or landing pages, an excellent way to generate social proof is by getting featured on the news. By having articles written and published about you in different news outlets, you can again increase your trust in your clients, thus increasing their chances of converting into paying customers.
Getting different news features under my belt has undoubtedly opened many doors for me. I’ve since found it easier to sell products, get hired, land speaking engagements and generally attract higher-quality clients. Not only am I perceived as more of an authority in my niche, but I can also have a broader impact since more people trust my brand with my social proof.
Having multiple ways to communicate with the public is vital to increasing the credibility, reach and accessibility of our brands. Being strategic is necessary as not all messages are suited for all mediums. Some things are best said in a press release, while others are on a social media post or website landing page. Hosting events and press conferences can also be great ways to communicate with our desired audiences.
Typically, our public relations strategies are put in place to achieve one of two things — to build hype and credibility in a brand or to protect the brand’s long-term reputation. Either way, an effective public relations strategy can make our brands more resilient, notable and trustworthy in the eyes of our prospects and general audiences.
Growing a brand can be a daunting task for anyone. There are many ways to achieve the same ends, and we often can lose sight of our customers’ perceptions while trying to balance growth under whatever constraints we may have. However, we business owners are servants to the human nature of our prospects and clients. The brands that more deeply understand and appeal to said human nature and the ones that end up being more successful and magnetizing. Hopefully, you can apply the principles described here to your business and watch as you find new paying customers quickly and gracefully.
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Jonathan Brierre
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Opinions expressed by Entrepreneur contributors are their own.
Social media, content marketing and paid media are powerful tools that can drive the success of public relations (PR) efforts. With a plethora of creative options available, such as compelling content on social channels and targeted advertising campaigns, small businesses can now reach more people than ever before with tailored messaging that resonates with their audience.
Social media platforms enable companies to effectively target key audiences, such as investors or partners, while engaging content attracts new consumers who might be interested in the company’s products or services.
Additionally, investing in well-placed advertising showcases a brand’s overall credibility, essential for successful relationships within any industry. Ultimately, implementing this cohesive approach results in increased brand awareness and fosters sustainable growth over time by nurturing strong online and offline connections through continuous engagement efforts across multiple platforms.
By implementing a cohesive PR strategy that integrates these platforms, small business owners can enhance their visibility, build trust with customers and foster sustainable growth through continuous engagement efforts. Let’s explore how to do it the best way.
Related: 4 Simple Reasons Why Your Small Business Should Have a Public Relations Strategy
To effectively leverage different channels for PR success, small businesses should implement a balanced strategy combining organic and paid media. Focus on sharing engaging, value-driven content to build genuine connections with your target audience across multiple platforms like Facebook, LinkedIn or Instagram. Collaborate with influencers and encourage user-generated content showcasing your products or services in authentic settings.
However, don’t rely solely on organic reach; invest strategically in paid advertising campaigns such as sponsored posts or targeted ads to amplify the visibility of key messages among broader audiences based on their interests or online behavior patterns. Additionally, you can now also harness the power of AI-powered solutions to enhance your PR efforts.
A strong social media presence is essential to achieve PR success. Engaging with your target audience on platforms like Facebook, Twitter, Instagram or LinkedIn enhances brand visibility and fosters lasting relationships with customers and potential clients. To begin crafting an effective strategy, consider establishing clear objectives based on your business goals, for instance, generating leads or driving website traffic.
Spend time studying successful accounts within your industry and competitors’ activities. Note the type of content that resonates most among users and adopt similar tactics when you create posts tailored specifically for each platform’s preferences.
Be mindful of how frequently you share updates — consistency matters as much as quality. Keep track of key performance indicators such as engagement rate or number of new followers acquired over a certain period.
Related: The Major Benefits of Social Media for Small Business Owners
Utilize diverse content marketing strategies to attract and engage your target audience.
For example, repurpose a single piece of well-researched content into various formats, such as podcasts or webinars, to reach more potential customers across different platforms while providing valuable information. Convert data-driven research into visually appealing infographics to enable the audience to quickly grasp key insights. Offer customized white papers tailored to specific buyer profiles to demonstrate an in-depth knowledge of industry pain points and increase credibility among prospects.
Maintain an active presence on reputable forums to foster trust between businesses and thought leaders. Contribute authentic expertise to build credibility for driving continued growth and brand recognition nationwide without relying excessively on traditional advertising efforts alone.
Don’t forget to leverage AI-powered content creation tools to enhance your PR efforts. These tools employ advanced natural language processing and machine learning algorithms to generate high-quality content.
Expand your reach with various paid media channels to maximize the effectiveness of your PR campaigns. Consider integrating several options into your advertising strategy to reach more potential customers. Invest in search engine ads, like Google Ads, to ensure higher visibility among users researching products and services similar to yours.
Video platforms like YouTube can also be powerful marketing tools if employed strategically, as many consumers discover new brands via engaging video content. Don’t overlook traditional print advertisements either, as they can have a long-lasting impact on local markets or niche industries where newspapers and magazines remain relevant sources of information.
Explore different paid media outlets suited to your target demographic’s preferences to ensure seamless communication between businesses seeking exposure and individuals eager to learn about them. Finding an appropriate balance is key when leveraging various channels for PR success while staying mindful that consumer trust in earned or owned media typically outweighs reliance on purely sponsored adverts alone.
Related: How to Make the Most of Your Public Relations
When crafting a cohesive PR strategy, small businesses must consider the integration of social media, content marketing and paid media campaigns. A vital aspect is monitoring key performance indicators to ensure their efforts deliver tangible results. To achieve this seamlessly, you should utilize tools that help analyze audience engagement across each platform alongside click-through and conversion rates.
You should regularly review these metrics to adjust strategies for optimal impact on business growth objectives. Furthermore, you should encourage collaboration and clear communication within your team by assigning distinct roles and responsibilities concerning digital marketing initiatives, ultimately leading to success in public relations endeavors with an integrated approach combining all facets of modern promotion techniques.
Agility is the key to success in marketing and PR. Different channels should be leveraged for maximum efficiency, as each would lead to different results depending on audience reachability and the cost involved. It’s important to understand how paid marketing (using ads), owned media (own content) and earned media (influencers/media) work together for a successful PR campaign and get the desired result within a limited time frame.
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Sonu Yadav
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In today’s digital age, national media exposure can catapult your consumer brand into the spotlight overnight. For many of my clients, preparing for such exposure is a regular part of their marketing strategy. But is your online presence ready to handle this sudden influx of interest?
Let’s guide you through the practical steps to prepare your brand for national media exposure. Whether you’re gearing up for a specific media event or simply want to be ready when the opportunity strikes, we’ll cover the key areas you must focus on. From optimizing your website for an influx of traffic to updating your social media profiles, we’ll cover the key areas you need to focus on to ensure your brand is ready to shine when the spotlight hits.
Related: 3 Step Process to Get Exposure and Press Coverage for Your Business
Your website is your brand’s home base. It needs to be ready to handle an increase in traffic without crashing. Check with your hosting provider to ensure your plan can handle a surge in traffic. If necessary, consider upgrading to a plan with more bandwidth.
The website design should be user-friendly, with straightforward navigation to important pages like product details, your “About Us” page and your contact information page. Load times should be quick, as slow websites can deter potential customers. Use tools like Google Page Speed Insights to check your site’s speed and get specific recommendations for improvement on your site.
In today’s mobile-first world, ensuring your website is mobile-friendly is not just an option but a necessity. A responsive design that adjusts to different screen sizes is essential. To make your website more mobile-friendly, consider the following:
Also, consider adding a FAQ section to address common questions and reduce the load on your customer service team.
National media exposure can significantly increase traffic to your product listings, whether on Amazon, your website or another platform. Optimizing your listings is crucial to make the most of this opportunity.
For Amazon listings, begin with a compelling product title incorporating relevant keywords. This enhances your product’s visibility in search results and helps it stand out in the crowded marketplace.
High-quality images are also vital. Showcase your product from multiple angles, including close-ups to emphasize unique features and depict the product in use to provide potential customers with a comprehensive understanding of what they’re purchasing.
In addition to images, Amazon’s A+ Content is a powerful tool for enhancing your product listings. This feature allows you to add additional images, comparison charts and more detailed product descriptions. Use it to tell a compelling story about your product and brand, enticing shoppers to add-to-cart.
The bullet points on your product detail page should be clear, concise, and packed with valuable information. Optimize them for Amazon SEO by including relevant keywords but remember to keep them shopper friendly. These bullet points often form a customer’s first impression of your product, so make them count.
For product listings on other platforms, the same principles apply. Use high-quality images, write compelling descriptions and incorporate relevant keywords. Ensure your product listings are easy to find and navigate and provide all the information a customer might need to purchase.
Here is some additional context for optimizing your product listings on various platforms:
By optimizing your product listings, you can improve their visibility and capitalize on the influx of attention due to your national media exposure.
Related: How to Optimize Your Site for Search Without Actually Doing SEO
Consistency is key when it comes to branding. It’s essential that your brand messaging and visual patterns remain uniform across all platforms — be it your website, Amazon listings or social media profiles. This creates a unified brand experience, reinforcing your brand identity every time a potential customer interacts with you, regardless of the platform.
Start by ensuring your brand’s voice is the same on every channel. This voice should reflect your brand’s personality and values. For example, if your brand is playful and youthful, your voice might be informal and energetic. This voice should stay that way across all platforms, from the tone of your social media posts to the language in your product descriptions.
Next, consider your visual branding. This includes your logo, color scheme, typography and recurring design elements. These should be consistent across all platforms to create a recognizable brand pattern. For instance, if your brand uses a particular shade of blue in its logo, that shade should appear in your social media graphics, website design and even your product packaging.
Consistent branding not only helps increase brand recognition but also builds trust. It shows that your brand is professional, reliable and focused. It also makes your brand more memorable. When your brand messaging and visuals are consistent, they leave a stronger impression, making it easier for potential customers to remember your brand.
Remember, every interaction a potential customer has with your brand is an opportunity to reinforce your brand identity. Maintaining consistent brand patterns and messaging across platforms allows you to make the most of these opportunities and build a strong, recognizable brand.
Coupons and discounts can be a great way to convert interested visitors into customers. However, it’s crucial to set these up properly. Avoid allowing shoppers to coupon stack to avoid unexpected losses unless that’s part of your strategy. Ensure the terms and conditions for each discount are clear to prevent confusion. Set expiration dates for your coupons to create a sense of urgency.
Promote your discounts effectively through social media, email newsletters and on your website. Consider using a countdown timer for limited-time offers to increase the sense of urgency. Also, track the performance of your discounts to understand which ones are most effective and why. This will help you refine your discount strategy over time.
Social media is often the first place people go to learn more about a brand they’ve seen in the media. Make sure your profiles are up-to-date and reflect your brand accurately. This includes your bio, profile pictures, and any pinned posts. Your bio should communicate what your brand is about and what makes it unique.
Regularly post engaging content and interact with your followers to build a strong online community. Use a consistent tone of voice that aligns with your brand personality. Respond promptly to comments and messages, showing your audience you value their engagement.
Consider using social media management tools to schedule posts and monitor your brand mentions. This will help you maintain a consistent posting schedule and stay on top of any conversations about your brand.
Related: How to Create a Standout Social-Media Profile
National media exposure can be a game-changer for consumer brands, but only if you’re prepared to make the most of it. By optimizing your product listings, preparing your website, setting up coupons correctly, updating your social media profiles and maintaining consistent brand patterns across platforms, you can ensure your brand is ready to shine in the spotlight.
Remember, preparation is key. The more prepared you are, the better you’ll be able to handle the surge in interest and convert shoppers into customers.
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Nick Heethuis
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BEIJING (AP) — The U.S. recommended Americans reconsider traveling to China because of arbitrary law enforcement and exit bans and the risk of wrongful detentions.
No specific cases were cited, but the advisory came after a 78-year-old U.S. citizen was sentenced to life in prison on spying charges in May.
It also followed the passage last week of a sweeping Foreign Relations Law that threatens countermeasures against those seen as harming China’s interests.
China also recently passed a broadly written counterespionage law that has sent a chill through the foreign business community, with offices being raided, as well as a law to sanction foreign critics.
“The People’s Republic of China (PRC) government arbitrarily enforces local laws, including issuing exit bans on U.S. citizens and citizens of other countries, without fair and transparent process under the law,” the U.S. advisory said.
“U.S. citizens traveling or residing in the PRC may be detained without access to U.S. consular services or information about their alleged crime,” it warned.
“ Similar U.S. advisories issued for the semiautonomous Chinese regions of Hong Kong and Macao.”
The advisory also said that Chinese authorities “appear to have broad discretion to deem a wide range of documents, data, statistics, or materials as state secrets and to detain and prosecute foreign nationals for alleged espionage.”
It listed a wide range of potential offenses from taking part in demonstrations to sending electronic messages critical of Chinese policies or even simply conducting research into areas deemed sensitive.
Exit bans could be used to compel individuals to participate in Chinese government investigations, pressure family members to return from abroad, resolve civil disputes in favor of Chinese citizens and “gain bargaining leverage over foreign governments,” the advisory said.
Similar advisories were issued for the semiautonomous Chinese regions of Hong Kong and Macao. They were dated Friday and emailed to journalists on Monday.
The U.S. had issued similar advisories to its citizens in the past, but those in recent years had mainly warned of the dangers of being caught in strict and lengthy lockdowns while China closed its borders for three years under its draconian “zero-COVID” policy.
China generally responds angrily to what it considers U.S. efforts to impugn its authoritarian Communist Party–led system. It has issued its own travel advisories concerning the U.S., warning of the dangers of crime, anti-Asian discrimination and the high cost of emergency medical assistance.
From the archives (June 2020): Hong Kong bans insults to China’s national anthem
Also (August 2021): Biden signs order to allow thousands of Hong Kong residents to stay in the U.S. amid Beijing’s crackdown
China had no immediate response to the travel advisory on Monday.
Details of the accusations against the accused spy John Shing-Wan Leung are not available, given China’s authoritarian political system and the ruling Communist Party’s absolute control over legal matters. Leung, who also holds permanent residency in Hong Kong, was detained in the southeastern city of Suzhou on April 15, 2021 — a time when China had closed its borders and tightly restricted movement of people domestically to control the spread of COVID-19.
The warnings come as U.S.-China relations are at their lowest in years, over trade, technology, Taiwan and human rights, although the sides are taking some steps to improve the situation. U.S. Secretary of State Antony Blinken made a long-delayed visit to Beijing last week and Treasury Secretary Janet Yellen is making a much-anticipated trip to Beijing this week. China also recently appointed a new ambassador to Washington, who presented his credentials in a meeting with President Joe Biden at the White House.
Other incidents, however, have also pointed to the testiness in the relationship. China formally protested last month after Biden called Chinese leader Xi Jinping a “dictator,” days after Blinken’s visit.
From the archives (February 2021): Biden says China faces ‘extreme competition’ from U.S. under his administration
Also see (June 2020): Bolton book adds urgency to Trump bid to depict himself as a China hawk and to paint Biden as a Beijing apologist
Capitol Report (June 2020): Trump asked China’s Xi to buy U.S. farm products to help him win re-election, Bolton book says
Biden brushed off the protest, saying his words would have no negative impact on U.S.-China relations and that he still expects to meet with Xi sometime soon. Biden has also drawn rebukes from Beijing by explicitly saying the U.S. would defend self-governing Taiwan if China, which claims the island as its own territory, were to attack it.
Biden said his blunt statements regarding China are “just not something I’m going to change very much.”
See: Biden says he plans to meet with China’s Xi even after calling him a dictator
Also: ‘Extremely absurd and irresponsible’: China fires back after Biden labels Xi a dictator
From the archives (March 2023): Xi says U.S. is trying to hinder China in its quest for global influence
The administration is also under pressure from both parties to take a tough line on China, making it one of the few issues on which most Democrats and Republicans agree.
Along with several detained Americans, two Chinese-Australians, Cheng Lei, who formerly worked for China’s state broadcaster, and writer Yang Jun, have been held since 2020 and 2019, respectively, without word on their sentencing.
Perhaps the most notorious case of arbitrary detention involved two Canadians, Michael Kovrig and Michael Spavor, who were detained in China in 2018, shortly after Canada arrested Meng Wanzhou, Huawei Technologies’ chief financial officer and the daughter of the tech powerhouse’s founder, on a U.S. extradition request.
They were charged with national-security crimes that were never explained and released three years later after the U.S. settled fraud charges against Meng. Many countries labeled China’s action “hostage politics.”
Read on (May 2023): Biden national-security adviser tells Chinese diplomat that U.S. seeks to move beyond spy-balloon episode
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As a head of a PR agency, I’m often reached out to by brands asking me to launch a full-scale digital PR campaign. Rather unexpectedly for them, sometimes I decline or suggest they push their plans back a bit.
The reason is that I firmly believe PR won’t make sense if a brand hasn’t established a solid digital strategy. Getting featured in some top-tier media is nice, but it won’t necessarily result in many new leads, increased online visibility and skyrocketing revenue. Top-tier publications alone won’t bring you clients or brand awareness, especially for brands that hardly have any digital presence.
Imagine you’ve got a car and want to level it up and tune it. Ah, the neon lights and shiny car rims. Are you good to go? Maybe. Only if you are certain that all the rest performs well. Gear unit, engine, headlights — are you sure these work fine? PR is the tuning that you make while ignoring all the rest.
The “Featured in top-tier media” bar on your website is good, but it won’t matter if this is not part of your consistent digital presence strategy.
Related: How to Improve Your Business’ Digital Presence
Including PR in the long-term digital marketing strategy is the number one thing I recommend to the brands. Pavel Katz, CEO of growth marketing agency Digital Bands, also emphasizes the importance of having a content strategy that covers all digital channels and making sure PR publications are aligned with it: “Outline a very particular content plan with specific dates and leave some place for the unscheduled posts and announcements. Press releases and planned publications should be reflected in it too. I know this sounds like quite a lot of work for several teams, but this will take your digital marketing efforts to the next level.”
Things only start here. After the content strategy is ready, there are a number of other steps that will help brands enhance PR efforts.
Talk to sales. Talk to marketing. Talk to SEO and business development teams. Your digital presence might diverge unless your efforts align with the other departments. Tip: Schedule a call with a sales/business development lead, and ask them to help you map a buying persona. That’ll help you know [rather than guess] who your target audience is. Even if you do B2B, there’s always a particular person behind this “B” who will decide whether to cooperate with you. Know the pains of this person, address them, talk to them, and help make a well-informed decision through PR.
Along with the PR publications, social media is your brand’s front face, which clients and other stakeholders judge you upon. Ensure your online reputation strategy syncs with the PR and social media teams. Hints: Agree on the tone of voice, discuss crisis management steps in advance, and discuss what kind of brand image you broadcast through socials and PR efforts.
Don’t forget to show your PR publications to your social media audience. You can launch a paid social campaign that showcases the PR mentions and target a particular audience that you’d like to see your posts. It allows you to increase your PR reach and tweak the ad displays as per your targets. For example, you can show Facebook ads with a PR mention to people who submitted requests on your website. It also doubles as a solution to an eternal PR metrics problem: You can track how many people have seen and engaged with your publication through such ads.
For instance, after my previous article was featured in Entrepreneur, I posted a link to it on my LinkedIn along with a catchy intro that encourages my connections to read the entire post (you can do better than “I was featured in /media/, read the entire piece here,” but most intros do boil down to that). Journalists appreciate when their pieces are placed on social media and get additional coverage. I noticed it got decent traction and engagement from my colleagues and friends, so I launched a small-scale paid social ads campaign on LinkedIn, which gave my post a proper boost. It’s a win-win for me and the media: The article is seen more often, gets more hits, and I can track down how many people saw my feature.
Related: 3 Ways to Build an Online Presence With Social Media
Audit and fix your website. That’s an art in itself, but leveraging Google Analytics is a good start. This way, you can identify how your website performs and what can be improved. Example: We had a client whose website sucked when it came to its technical performance; it just didn’t load quickly enough. All the hreflangs, XMLs, javascripts and other front- and back-end incantations might damage your website performance and hence hurdle PR. No one wants to deal with trudging through sloppy pages.
Digital PR implies media linking to your website; thus, exploring your current backlink profile makes sense. You need to know which websites have already linked to you to gain momentum by securing new links. Often, links from niche websites will get you more reach than from top media.
You can use SEO tools for both technical website audit and backlink profile exploration. These may seem tricky, but as I advised earlier, you’ve talked to the SEO team, right? PR + SEO is a secret weapon neglected by 9 out of 10 PR specialists I speak to, so be among the few who use it.
As I mentioned in the beginning, I often advise my clients not to start the PR campaign right away. After all, the odds are they won’t even need PR at their current stage, and it’s fine. Sometimes we prefer to ramp up our efforts gradually, and the first steps can be pretty straightforward. Linking back to your website in your YouTube video descriptions is PR, too. Asking a partner you’ve cooperated with to announce your cooperation on their social media also matters.
It’ll be much easier to gain traction in the media you want to be featured in if your overall digital presence is solid and your brand’s digital efforts are aligned. There are no details that won’t matter. Before you make it to the main page of the media you dream about, you’ve got to do your digital homework.
Related: Is Your Brand Ready for Public Relations and Press?
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Evgeniya Zaslavskaya
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This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.
https://www.barrons.com/articles/nvidia-stock-price-ai-tesla-5af5041c
Shares of newly minted $1 trillion company
Nvidia
were taking it on the chin Monday, and investors searching for a reason should look to
Tesla
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Public relations (PR) plays a pivotal role in shaping a company’s image, managing its reputation and building strong relationships with stakeholders. However, there are several misconceptions surrounding the field of public relations that can hinder entrepreneurs from fully leveraging its power.
In this article, we aim to debunk some of the most common misunderstandings about public relations, shedding light on its true value and potential for entrepreneurial success.
Related: 3 PR Myths Hurting Your Business
There’s a prevalent misunderstanding when it comes to the realm of public relations: That it’s exclusively about securing coverage in the media. Indeed, engaging with the media plays a fundamental role in the toolkit of a PR professional; however, it’s merely a part of the broader spectrum of responsibilities encompassed within this field.
To begin with, public relations is essentially about strategic communication. It’s the process of meticulously planning, executing and managing communication between an organization and its various stakeholders, including employees, customers, shareholders and the wider community. In a world where information is rapidly disseminated and readily available, strategic communication is crucial to ensure that the right message reaches the right audience at the right time. This may involve everything from crafting compelling brand narratives and key messages to developing comprehensive communication plans for product launches or corporate announcements.
Moreover, public relations plays a vital role in managing a brand’s reputation. In this digital age, a company’s reputation can be made or broken within minutes, thanks to the power of social media and online reviews. As such, PR professionals must constantly monitor public sentiment and be prepared to take swift action to mitigate any potential damage to the brand’s image. This involves not just reactive measures — like crisis communication and response — but also proactive steps, such as corporate social responsibility initiatives and transparency in business practices.
Furthermore, public relations extends into the arena of community engagement. PR practitioners understand the value of forging strong relationships with the community in which the organization operates. Through initiatives such as volunteering, sponsorships and local events, they work to position the brand as a responsible and engaged member of the community. Such efforts not only enhance the brand’s reputation but also strengthen its relationship with the local market.
Stakeholder relations is another crucial facet of public relations. Every organization interacts with a myriad of stakeholders, from employees and customers to shareholders and regulators. Each of these groups has unique interests and concerns, and PR professionals play a key role in addressing these. They facilitate open and effective communication between the organization and its stakeholders, helping to build trust and foster strong relationships.
Public relations also involves working with influencers and thought leaders to bolster a brand’s credibility and reach. In today’s connected world, influencers can have a significant impact on consumer perception and behavior. PR professionals, therefore, seek to cultivate positive relationships with these individuals and leverage their influence to benefit the brand.
Another common misunderstanding is that public relations is reserved for large, established companies with substantial budgets. In reality, public relations can benefit businesses of all sizes, including startups and entrepreneurs. Effective PR can help small businesses gain visibility, build credibility, attract investors and engage with their target audience. By crafting compelling stories, leveraging social media and building relationships with relevant influencers, entrepreneurs can effectively position their ventures in the market and compete with larger competitors.
Related: 4 Guiding Principles for Building and Deploying a Great PR Strategy
One of the most persistent misconceptions about public relations is that it yields instant and guaranteed results. PR is a long-term strategy that requires consistent effort, relationship-building and adaptability. While well-executed PR campaigns can generate significant buzz and media attention, it takes time to build brand awareness, establish credibility and nurture relationships with key stakeholders. Entrepreneurs must understand that PR is an ongoing process that requires patience, perseverance and a willingness to adapt strategies as needed.
Public relations and advertising are often mistakenly used interchangeably. However, they are distinct disciplines with different objectives and approaches. Advertising involves paying for media space to promote a product or service, while PR focuses on earning media coverage through strategic storytelling and relationship-building. PR helps build trust and credibility by leveraging third-party endorsements, whereas advertising relies on direct messaging and controlled brand communication. Integrating both disciplines can yield powerful results, but it’s essential to understand their unique roles and strengths.
Related: 5 Secrets Your PR Team Is Not Telling You
Public relations can be a valuable tool in managing and mitigating crises, but it is not a magical solution for all business challenges. While PR professionals can help shape public perception and navigate difficult situations, they cannot fix deep-rooted operational or product issues. Entrepreneurs should not solely rely on PR to address underlying problems but rather ensure their business fundamentals are sound. By aligning PR efforts with a solid foundation, entrepreneurs can leverage PR as a strategic asset to support their overall business objectives.
Public relations is a multifaceted discipline that goes beyond securing media coverage. Entrepreneurs must dispel common misconceptions and recognize the true value of PR as a strategic asset for building a strong brand, managing reputation and engaging with stakeholders. By understanding the broader scope of PR, entrepreneurs can harness its power to gain visibility, establish credibility and ultimately drive business growth. As with any business endeavor, success in public relations requires a proactive and strategic approach, continuous effort and a deep understanding of the target audience.
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Aidan Sowa
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In the fiercely competitive world of real estate, establishing a reputable brand and gaining clients’ trust is crucial for success. While many real estate agents focus primarily on traditional marketing methods, incorporating public relations (PR) strategies can be a game-changer.
This article explores the benefits and strategies for real estate agents to leverage public relations effectively, helping them enhance their visibility, credibility and ultimately, their business growth.
Related: 4 Guiding Principles for Building and Deploying a Great PR Strategy
One of the primary advantages of public relations for real estate agents is the ability to build trust and credibility with clients and the wider community. PR activities, such as media coverage, press releases and thought leadership initiatives, help position agents as experts and thought leaders in their field. By showcasing their knowledge, expertise and success stories, real estate agents can establish themselves as trusted advisors, fostering increased client confidence and gaining a competitive edge.
Media relations: Developing relationships with local journalists and media outlets is a valuable PR strategy for real estate agents. By regularly sharing newsworthy information, such as market trends, insights and success stories, agents can position themselves as reliable sources for media professionals seeking expert commentary. This media exposure not only enhances agents’ visibility but also establishes credibility and attracts potential clients.
Thought leadership: Contributing thought leadership articles or opinion pieces to local newspapers, industry publications or relevant online platforms is a powerful PR strategy. By sharing valuable insights, tips and analysis related to the real estate market, agents can showcase their expertise and establish themselves as go-to resources in their field. Thought leadership content not only increases visibility but also helps build trust and credibility among potential clients.
Community involvement: Active participation in local community initiatives and events provides an excellent opportunity for real estate agents to build relationships and enhance their PR efforts. Sponsoring community events, participating in charity drives or hosting informational seminars are great ways to showcase the agent’s commitment to the community and generate positive PR. This community involvement helps agents establish themselves as trusted, community-minded professionals.
Online presence: Maintaining a strong online presence is crucial in today’s digital landscape. Real estate agents should leverage various online platforms — such as their website, blog, social media and online review sites — to communicate their expertise and engage with potential clients. Sharing valuable content, including market updates, home-buying or selling tips and success stories, helps establish the agent as a reliable source of information and builds trust with their online audience.
Related: 6 Unique PR Tactics That Drive Growth and Sales
Effective PR for real estate agents also involves monitoring their online reputation and managing any negative feedback. Agents should proactively monitor online review sites, social media platforms and online forums to address any client concerns or negative comments promptly. By engaging in transparent and constructive conversations, agents can demonstrate their commitment to customer satisfaction and showcase their excellent reputation management skills.
Measuring the success of PR efforts is essential to understanding the impact and effectiveness of the strategies implemented. Real estate agents can track key metrics such as media mentions, website traffic, social media engagement and lead generation to evaluate the outcomes of their PR campaigns. By analyzing these metrics, agents can identify what is working well and make adjustments to continually improve their PR efforts.
As you can see, in the competitive real estate market, public relations can provide real estate agents with a significant advantage. By implementing effective PR strategies, agents can build credibility, trust and visibility in their local communities. By leveraging media relations, thought leadership initiatives, community involvement and a strong online presence, real estate agents can position themselves as industry experts, attract potential clients and ultimately drive business growth. Embracing public relations as a strategic tool is an investment that can yield significant returns for real estate professionals committed to establishing a strong and reputable brand.
Related: The Success of Your PR Campaign Depends on These 3 Essential Elements
Furthermore, by utilizing public relations strategies, real estate agents can differentiate themselves from the competition and stand out in the minds of potential clients. Building trust and credibility through media relations allows agents to showcase their expertise and insights to a wider audience. When local journalists or media outlets seek expert opinions on real estate matters, being recognized as a go-to source can lead to increased media coverage and exposure.
In conclusion, public relations is a powerful tool for real estate agents to enhance their success in a competitive market. By building trust, credibility, and visibility through media relations, thought leadership, community involvement and a strong online presence, agents can establish themselves as reputable professionals. Effective PR strategies help agents differentiate themselves, attract potential clients, and foster long-term relationships. Embracing public relations as a strategic component of their overall marketing efforts is a wise investment that can yield significant returns for real estate agents committed to standing out and thriving in their industry.
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Aidan Sowa
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Stock futures were falling following three straight days of losses for Wall Street. Federal Reserve Chairman Jerome Powell again will be delivering testimony before Congress. His comments on Wednesday that the central bank likely would be raising rates further this year pushed markets lower.
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Whether a startup or a Fortune 500 company, earning positive and continuous media coverage is an important part of building strong relationships with customers, partners, investors, employees, regulators and other key audiences.
Yet even the largest organizations often do not have a steady stream of news to report, which begs the question — how can you earn positive media coverage when there’s no news? With a little creativity and chutzpah, there are actually quite a few ways to general high-quality, consistent coverage.
Related: 6 Ways to Wring All the Value from Your Earned Media Coverage
Strong media coverage supports an organization by maintaining a positive brand and as one component of a comprehensive business development marketing program. There are a million definitions of a brand; put simply, a brand is the image, personality and value proposition of, and trust in a product or service. If you think of a brand as a bank account; strong, positive, accurate and continuous media coverage are “deposits” into that account. When there is a negative event, such as a product recall, an ad campaign that is criticized or an employee commits a crime, these are “withdrawals” from that account. A strong brand enables the management team to take remedial action, apologize for the event and move forward, often without a negative impact on sales.
Ongoing media coverage also supports business development to varying degrees. If one accepts a sales cycle or funnel as including the traditional five phases — inform, educate, excite, trial and sale — positive media coverage accelerates the sales cycle in the inform, educate and excite phases for all products and services, whether a $20 computer mouse or a $100,000 software subscription. For less expensive products, media coverage alone will accelerate the trial and final sale as well.
With this in mind, here are five creative strategies to increase the quality and quantity of any organization’s media coverage.
Media aim to cover new content that reports on news or trends. This content can take many forms, here are just three examples:
Related: Why Earned Media Is the Best Way to Earn Your Reputation
Media receive literally hundreds of emails a day, each proposing an article or broadcast segment idea. Marketers need to break through that clutter to get their messages across.
With media returning to their offices, many at least part-time, one approach is a “press kit in a box.” This is a package with inexpensive items related to the article/broadcast segment idea. Human curiosity dictates that the recipient will open the package. For example, a company promoting a new exercise app might send a T-shirt with the company’s logo, an exercise band and a Luna bar, along with a card with a QR code containing a press release and other information to support the story they are pitching.
A core strategy for marketing teams trying to earn coverage is to “find a home for the story.” Clearly, marketers need to reach out to banking reporters when pitching a new banking product. But there is often a wide group of reporters that might be interested in the story. Is there a human interest element to the story, i.e. did the bank develop the new product as a result of consumer input? Or does the new product enable people who previously couldn’t afford to buy a home now able to receive a mortgage? Finding microtrends and other stories within the wider story can extend your media outreach and opportunity for coverage.
Media will often look for outside sources to corroborate a story idea. Providing this support early on when proposing an article/segment idea can both attract additional media interest and accelerate the story development cycle. Any number of sources can act as credible influencers. These include industry analysts, independent research firms, law or accounting firms with recognized expertise on a given topic, investors and even bloggers. For products or services where customers perceive little differentiation, quotes or testimonials by influencers can tip the balance of closing a sale.
Sometimes organizations have interesting content that is unorganized or developed for different purposes than for public consumption. By recasting that information to tell a specific story, organizations can “create something out of nothing.” By packaging that information as a quarterly update, for example, the organization can conduct quarter-by-quarter trend analysis, which provides an added layer of insights beyond just the information itself.
Related: Why Media Coverage Is Your Most Powerful Sales Tool
Ten years ago, when media accepted article or segment themes, they would handle all the investigative work to prepare the story. Today, many media must publish more content with fewer resources. As a result, they rely on marketing organizations to provide many of the supporting elements of a story — photos, video, testimonial quotes and more. Adding a new level of creativity to media relations enables marketing teams to take advantage of this trend and earn more and better coverage for their organizations.
HubSpot notes in a recent report that 61% of marketers consider lead generation their toughest challenge. While generating brand awareness is important, in today’s uncertain economic and hypercompetitive environment, marketers should pull all the levers they can to keep their sales pipeline line full — not just of any leads, but of quality leads. Ongoing, positive media coverage can be a strong contributor to this goal.
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Tim Johnson
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It is the notion that the Federal Reserve could deliver a hawkish jolt to markets even if it refrains from raising rates when its two-day policy meeting ends on Wednesday.
There are concerns that such an outcome could spark a turnaround in U.S. stocks, especially if an uncomfortably strong reading on May inflation — due this coming Tuesday just as the Fed’s policy meeting is slated to begin — pushes the central bank toward something even more extreme, like delivering a rate increase on Wednesday despite intimating that it plans to abstain.
The May consumer-price index is forecast to rise 4.0% for the year, down from a rise of 4.9%, while the core index, excluding food and energy prices, is seen easing to a rise of 5.3% from 5.5%.
On the other hand, signs that the economy has weakened and inflation has continued to fade would help the Fed to justify skipping a rate increase in June — as several senior officials have suggested it will — while signaling that a potential hike at its following meeting in July could be the final increase for the cycle.
“Softening U.S. data should support calls that a June skip could eventually turn into a July pause. Next week, most of the data is expected to remain weak or little changed: retail sales could be flat m/m, the Fed regional surveys should remain in negative territory, and consumer sentiment will waver,” said Craig Erlam, senior market analyst at OANDA, in emailed commentary.
See: The Fed’s crystal ball on inflation appears off the mark again. Here’s comes another fix.
Wednesday’s meeting comes at a critical time for the market. U.S. stocks have powered ahead for more than six months, with the S&P 500
SPX,
having risen more than 20% off its Oct. 12 closing low, according to FactSet. Just this past week, the index exited bear-market territory for the first time in a year.
The index is up 12% so far in 2023, reversing some of its 19.4% decline from 2022, its biggest calendar-year drop since 2008, according to Dow Jones Market Data.
So far this year, highflying tech stocks have helped to paper over weakness in other areas of the market. This has started to change over the past two weeks, as small-cap and value-stocks have lurched suddenly higher, but there are fears that the Fed could hurt the most interest-rate sensitive technology names if Chairman Jerome Powell hints at rates rising higher than investors presently anticipate.
The so-called “Megacap eight” stocks — a group that includes both classes of Alphabet Inc. stock
GOOG,
GOOGL,
Microsoft Corp.
MSFT,
Tesla Inc.
TSLA,
Microsoft Corp.
MSFT,
Netflix Inc.
NFLX,
Nvidia Corp.
NVDA,
Meta Platforms Inc.
META,
— have driven nearly all of the S&P 500’s gains this year, according to Ed Yardeni, president of Yardeni Research, who included his analysis in a note to clients.
But since the beginning of June, the Russell 2000
RUT,
a gauge of small-cap stocks in the U.S., has risen more than 6.6%, according to FactSet data. The Russell 1000 Value Index
RLV,
has also gained nearly 3.7% in that time. During this period, both have outperformed the tech-heavy Nasdaq Composite
COMP,
although the Nasdaq remains the market leader, having risen 26.7% since Jan. 1.
Concerns about the Fed’s plans intensified this week after the Bank of Canada delivered a surprise interest-rate hike, ending a four-month pause. The BOC’s decision followed a similar move by the Reserve Bank of Australia, and partly as a result, U.S. Treasury yields rose and tech-heavy stocks tumbled, with the Nasdaq logging its biggest drop since April 25, according to FactSet.
While small-caps held up amid the chaos, the reaction stoked fears that something similar might be in store for markets when the Fed delivers its latest decision on interest rates Wednesday.
Stocks could be in for more turbulence if the Fed signals it plans to follow the BOC and RBA with a hawkish surprise of its own. And it wouldn’t necessarily need to hike rates to pull this off, market strategists said.
Emerging signs of complacency in the market could complicate its reaction. That the Cboe Volatility Index has fallen back below 15
VIX,
for the first time since before the arrival of COVID-19 is one such sign that investors aren’t worried enough about a potential selloff, said Miller Tabak + Co.’s Chief Market Strategist Matt Maley.
Another analyst likened the potential fallout from a hawkish Fed to the bad old days of 2022.
“If the Fed signals that rates will be going up again, the market playbook could read more like 2022 than what we have seen so far in 2023,” said Will Rhind, the founder and CEO of GraniteShares, during a phone interview with MarketWatch.
Perhaps the biggest wild card is Tuesday’s inflation report. If the numbers come in hot, Powell and his peers could face pressure to hike rates without priming the market first.
For this reason, Rhind believes investors are underestimating the likelihood of a hike next week, even as Fed funds futures currently see a roughly 70% probability that the central bank will stand pat, according to the CME’s FedWatch tool.
And Rhind isn’t the only one. Leslie Falconio, chief investment officer at UBS Global Wealth Management, says the Tuesday inflation report could be a make-or-break moment for markets, summing up fears expressed elsewhere on Wall Street in a recent note to clients.
“We believe another rate increase is on the table, and that the CPI release on 13 June, a day before the Fed decision, will be decisive. In our view, another hike won’t have a material impact on the pace of economic growth,” Falconio said.
Assuming the Fed does forego a hike in June, there are a few key tells that investors should watch for to determine whether a “hawkish pause” is under way.
Perhaps the most important will be how the Fed handles changes to its closely watched “dot plot.” A modestly higher median dot would send an unmistakable signal to the market that the Fed will continue with its campaign of tightening monetary policy, perhaps to the detriment of the market, said Patrick Saner, head of macro strategy at the Swiss Re Institute.
“If the Fed skips but wanted to avoid the impression of the hiking cycle being done, it would need to include a revision of the dot plot. They could justify that with a more resilient GDP forecast and a higher inflation outlook. So I think it is the dots and then the statement that will be in focus,” Saner said during a phone interview with MarketWatch.
Beyond that, whatever the Fed does or says will likely be viewed through the lens of economic data that is due out next week. In addition to the Tuesday inflation report, a report on May retail sales is due out Thursday, and a on consumer sentiment from the University of Michigan will land on Friday. All these data points could influence investors’ impressions of the state of the U.S. economy, and their expectations for how the Fed will behave as a result.
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In today’s era of ever-evolving digital media, building relationships with journalists remains more important than ever.
Journalists are constantly inundated with pitches, press releases and requests for coverage, making it difficult for any one message to stand out. But with a strong relationship in place, your message is more likely to be heard and given the attention it deserves.
The truth is, journalists are trendsetters — the driving force behind many of the trends and patterns we witness on social media and in daily life. They are the gatekeepers to what’s in, what’s on its way out, and what new material will be featured in their publications and online platforms. Establishing genuine relationships with them is crucial to your success in media.
As with any successful relationship, building one with a journalist requires open communication, trust and sincerity. But most importantly, it requires work and care. Building relationships with journalists can help establish your brand as a thought leader in your field.
By providing journalists with valuable insights and commentary, you can position yourself as an expert in your industry. Doing so will lead to more media coverage, speaking engagements and other opportunities to help you grow your brand and establish yourself as a leader.
Related: Avoid These 10 Things That Annoy Journalists
Before reaching out to a journalist, it’s important to do your research in order to understand what types of stories they cover, their targeted audience and the type of information they prefer — be it informative, entertaining or otherwise. By tailoring your message to the journalist’s interests and needs, you’re more likely to catch their attention and get a response.
To build a relationship with a journalist, consider what you might need in order to gain a connection. In other words, identify their interests and understand why these interests are important to them by reading their previous work. Pay attention to the patterns in the types of stories they cover, the angles they take and the sources they quote. You can also follow the journalist on their social media profiles, such as Twitter and Instagram, to get a sense of their personality and interests.
Once you’ve done your research on a journalist you want to build a relationship with, it then comes time to craft your pitch. Generic, one-size-fits-all pitches are unlikely to get their attention. Instead, take the time to personalize your pitch to the journalist’s interests and needs.
Begin by addressing the journalist by name and referencing a recent article they’ve written to show that you’ve done your research and are familiar with their work. Next, explain why your story is relevant to their current beat as well as their audience, using specific examples and data or other evidence to support your claims.
Finally, offer yourself as a source for the story. Provide a brief bio and explain why you’re uniquely qualified to speak on the topic.
Related: 5 Things You Should Never Say to a Journalist
Journalists often have tight deadlines and will likely need a quick response from you in order to get your story published. Once you’ve sent your pitch, your communication isn’t over — you need to be available if the journalist has to ask any follow-up questions or verify any information you provide them.
If the journalist chooses not to cover your story for any reason, being responsive will stand out to them. This is equally important in building a lasting relationship with them. Journalists are more likely to remember sources who are easy to work with and provide helpful information, even if they don’t end up using it in their stories.
A few days after originally sending your pitch, follow up with the journalist by sending a polite email to check on the status of your pitch. Do not be pushy by messaging them every day, or even every two or three days. If you still don’t hear back from the journalist after your second or third follow-up email, it’s time to consider cutting the cord on that relationship.
When following up with journalists, make sure not to come off as aggressive and clarify that you are simply following up as a friendly reminder. Reference your previous email and ask if they have had a chance to review your pitch. If they’re still interested, they’ll likely respond with a quick update on where things stand. If they’re not interested, it’s best to move on and focus on building relationships with other journalists.
Related: 5 Ways to Make Journalists Actually Want to Publish Your Brand’s Stories
As with any healthy relationship, those you foster with journalists are not merely about what value they can give you — it’s also about what value you can give them.
For example, if you’re a leader in the field of marketing, you can provide insight into emerging marketing trends and provide a quote for the journalist to use in another story. If you have a client that is an established lawyer, you could provide the journalist with a reliable source of legal advice for another story.
Building relationships with journalists is a crucial component of any successful media strategy in today’s ever-changing digital landscape. It takes time and effort, but the benefits are well worth the effort. By establishing yourself as a trusted source and thought leader in your field, you can increase your visibility, build your brand and stay ahead of the competition.
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Scott Bartnick
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You’ve just launched your dream business. You’ve been diligently marketing your products on social media, optimizing your website for SEO and preparing your inventory for your first major sale. You’ve amassed a significant following, and there’s a real interest in your products and your company. However, when the sales data rolls in, it’s significantly less than you anticipated. You’re left wondering, “Didn’t I do everything right?”
Whether you’re running a new or established business, having a solid reputation in your industry is as crucial as any marketing tool or SEO-friendly website. Your clientele, customers and investors need to trust you. However, amidst all the packaging, paperwork and product production, it’s unlikely that you or your team have the bandwidth to work on developing this crucial credibility and reputation. That’s where a proficient public relations (PR) team comes into play.
Related: Break Through the Noise: 5 Hacks to Boost Your Public Relations Efforts in a Noisy Digital World
For clients and customers to invest their time and money into your business, they need to trust you. Too many people have been scammed by faux businesses claiming to sell non-existent products. Maintaining a trustworthy and credible reputation means that new clients won’t hesitate to employ your services or purchase your products. So, how does a business like yours become “reputable”?
A PR team creates connections with existing, reputable media outlets to promote your business. They generate content, typically a guest blog or feature, that is sent to magazines, journals and other outlets to be posted and shared with an established readership. This way, your company is endorsed by a credible source and introduced to potential clientele. Podcasts are also an increasingly popular way to spread the word about your business. A PR team will leverage their existing connections and forge new ones to place information about your business with a reputable podcaster or outlet whose audience aligns with your brand’s aesthetics, goals and values.
Sharing your brand’s story means connecting with your intended audience through the narrative you create around your brand. This narrative can include your history, values, goals and more. It helps new and existing customers understand who you are as a company and why they should invest their time and money in you. Podcasts and blog features can be a great way to tell your brand’s story in a longer format. Telling your brand’s story gives clients something to root for, an ethos that compels them to stick around with your company. Part of having a PR team is their ability to use outreach to expand your audience while making your business appear legitimate and credible.
This is an excellent opportunity to talk about your brand’s mission, involvement with social activism, core values, or modes of sustainability/ethical consumption utilized by your brand. Some customers and clients look for these aspects before deciding to make a purchase.
PR also aids in forming positive relationships with your potential and current customers. Part of confirming that you are a reputable business and crafting a narrative surrounding that business is so that your clients return to your company, not your competitor. You want people to be aware of your brand and loyal to it.
Connecting with existing media outlets, influential individuals and other reputable sources will aid you in promoting and maintaining a thriving business. The next step to boosting your business is undoubtedly hiring a PR team today. They will help you navigate the complex public relations landscape, ensuring your brand’s story is heard and your reputation is solidified.
Related: Does Your PR Agency See You as a Project or a Partner?
Another crucial aspect of PR is crisis management. In the event of a mishap or controversy, a PR team can help mitigate damage to your brand’s reputation. They can craft thoughtful responses, manage communications with the media, and guide your business through the storm. This proactive approach can help maintain credibility and reassure customers during challenging times.
In today’s digital age, a PR team’s role extends to managing your brand’s presence on social media. They can help shape your online image, engage with your audience and respond professionally to feedback or criticism. A well-managed social media presence can enhance your brand’s reputation, reach a wider audience and drive customer engagement.
Related: In The Run for Success, What’s More Helpful PR or Social Media?
PR teams also play a vital role in community engagement. They can organize events, partnerships, or initiatives that align with your brand’s values and contribute positively to your community. This boosts your reputation and fosters a deeper connection with your audience.
In conclusion, a PR team is an invaluable asset for any business, new or old. They can help build and maintain your reputation, connect with your audience, manage crises and much more. Sharing your brand’s story and values can foster customer trust and loyalty, ultimately driving your business’s success.
If you want to boost your business, hiring a PR team should be your next step. They can help you navigate the complex public relations landscape, ensuring your brand’s story is heard, your reputation is solidified and your business thrives. A good reputation is just as important as any marketing tool or SEO-friendly website.
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Morissa Schwartz
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Opinions expressed by Entrepreneur contributors are their own.
As the economic climate continues to fluctuate and uncertainty prevails, the only thing startup founders should be doing is ensuring their survival. In a downturn, having solid financials is not enough — you need to be visible. Without effective visibility and publicity, even the most profitable and financially healthy companies may struggle to attract the attention of potential investors.
In more prosperous times, startups could often capitalize on the market as VCs are flush with capital. However, with funds harder to come by, founders must actively seek ways to create a halo effect, induce FOMO (fear of missing out) and signal they’re a worthy investment.
Time and time again, visibility has proven to be tied to positive financial outcomes and success. I’ve been asked by many founders how they can generate visibility successfully and quickly, and here are my tips.
Related: How to Increase Your Visibility Online and Attract More Clients
Stay connected with your community and consistently update them on your progress. Leverage every single channel in your arsenal (Twitter, LinkedIn, Instagram and TikTok if relevant) to create consistent excitement around revenue traction, noteworthy achievements or milestones and unique insights you’ve gained while building your business. Challenge yourself to post two to three times per week across all channels. Don’t decide between channels — in 2023, you have to execute on all of them. Consistency is key.
Don’t forget to highlight your team. Investors should be able to see a strong, capable team behind any startup, not only a leader. I most like the combination of seeing practical tips, insights from team building and team celebrations together with transparent metrics that showcase the direction of the business.
Who is the incumbent in your industry? Challenging the market leader is a high-reward strategy for generating visibility. By taking a contrarian stance or disagreeing with industry giants, you can get a reaction out of investors and other stakeholders and get them to pay attention. Leverage the power of controversy to differentiate yourself from the competition.
For example, You.com is an artificial intelligence search engine that’s positioned themselves as taking on Google and Microsoft in the current AI arms race and has gotten a lot of attention as a result of it. Sam Altman’s contrarian tweet on the role of VC generated almost two million views and got the attention of Vinod Khosla, Paul Graham, Alexis Ohanian and others. Elon Musk is marred in controversy every day but the reality is that people care about his actions.
Rather than relying on traditional paid campaigns, which can be expensive and often have limited impact, partner with emerging artists and niche influencers to create more creative and engaging content. Louis Vuitton is a stellar example — its recent collaboration with artist Yayoi Kusama was wildly successful as much as it was unexpected, marrying the fashion house’s iconic LV logo with Kusama’s signature bright polka dots. It was worn by celebrities and enabled both brands to tap into new audiences. I’m surprised tech brands aren’t doing similar collaborations.
My advice is to find emerging artists and creatives that are relevant to your niche. Work with them on a campaign or co-host events, dinners and other experiences to showcase your company in an engaging way. I recommend that most campaigns combine a strong collaboration with surprising but relevant influencers together with a top media outlet writing an exclusive.
Related: How to Skyrocket Your Business to the Top With Thought Leadership and Visibility
When you help consumers become smarter, they’ll never forget it. Helping your customers learn and grow will help you create a loyal community that organically spreads the word about your company on social media. Provide educational resources, host workshops and create interactive experiences.
For example, Skye, a leadership coaching marketplace, recently hosted their Limitless Summit; speakers included the CEO of Myers Briggs, CEO of Handshake, Meta’s director of global L&D, VCs and executive coaches who did workshops on navigating conflict, cultivating culture at scale, the physiology of brain health and wellbeing, building transformational companies and more. By educating consumers and thereby building a meaningful community with high stickiness, this has helped the company attract investors who are not only looking for financial returns but also to support companies that are making a positive impact in the world.
Go for an unexpected design when it comes to external-facing materials, whether it’s your website, pitch deck, marketing collateral, social media posts and others. Specifically for investors, your pitch deck is often the first point of contact. Alongside a fantastic team and promising traction, a visually striking and creatively designed deck and website are sometimes the deciding factors on whether I take a meeting.
Consider incorporating bold colors, interactive elements and intuitive navigation to create an engaging user experience that reflects your brand’s personality. Remember, in a downturn, standing out is crucial and an unexpected design can be the catalyst that draws investors and customers in.
Related: 7 Shortcuts to Build Early Visibility For Your Brand
Host events and invite people from unexpected diverse backgrounds to participate in captivating discussions. By inviting speakers and attendees who may not typically be part of your industry or network, unexpected magic can happen. It’s not as hard as you’d think: imagine bringing together artists, scientists, actors, photographers and lawyers all together at the table with technologists for a dynamic exchange of ideas and cross-pollination of knowledge. This can lead to new opportunities for collaboration and growth and, most importantly, for inspiration and insights that you’ll be remembered for.
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Masha Bucher
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Apple Inc. officially showed off its mixed-reality headset Monday, with the new Vision Pro device supporting 3-D content and featuring a price tag of $3,499.
The Vision Pro, Apple’s
AAPL,
first major new product category in eight years, will be available early next year and feature the ability for users to control the device with their hands, eyes and voice, a distinguishing feature of the headset in the current market. Chief Executive Tim Cook previewed the widely anticipated device during the keynote address of Apple’s WWDC developer event Monday.
See also: Here are all the new software features coming to Apple’s iPhone this year
Apple had been rumored for years to be developing a mixed-reality headset, which merges immersive augmented reality with real-life surroundings. Cook has long been excited about AR technology, and Monday’s event gave a sense for how he sees the theme playing into the business going forward as he announced WWDC’s “one more thing.”
“It’s the first Apple product you look through and not at,” he said, adding that Vision Pro represents “spatial computing” and brings “a new dimension to powerful personal technology.”
Users will be “no longer limited by a display,” Cook claimed.
See also: Apple CEO Tim Cook explains why consumers would want a mixed-reality headset
One key feature of the Vision Pro is the ability to see apps overlaid across real-world surroundings. Users will be able to determine how immersed they want to be by tweaking settings on a digital crown.
The device will also allow users to rely only on their eyes, hands and voice to control content. Users can flick to scroll through options and tap their fingers together to select something with gestures that Apple says are subtle. Apple showed off how users will be able to arrange apps like FaceTime and Safari and then turn to the side to switch from one app to another. Their eyes will still be visible to people engaging with them in the real world.
The company highlighted panoramic photos and noted that users will be able to capture “spatial” 3-D videos and photos using the headset. Apple teased that people would be able to make the surroundings of a plane disappear if they opted to watch 3-D video while flying.
Robert Iger, Walt Disney Co.’s
DIS,
CEO, appeared onstage to call the launch a “momentous event” that could help make Disney’s vision “a reality” through the advent of deeply immersive and personal stories. The Disney+ app will be available “on day one” through Vision Pro.
Apple explained that users can either plug the Vision Pro in or use an external battery that will provide roughly two hours of use. The display has “more panels than a 4K TV for each eye.” The Vision Pro relies on Apple’s custom processing, including a new R1 chip that the company says helps reduce latency issues, which have plagued other devices.
Users will be able to set up digital personas as part of the new visionOS operating system for the device.
With the Vision Pro, Apple is wading into a market for augmented- and virtual-reality devices that has been underwhelming thus far as products from Meta Platforms Inc.
META,
and others have failed to pick up meaningful traction with consumers. VR devices dominate the market, according to third-party data from IDC, but overall shipments plunged more than 50% in the latest quarter amid economic pressures and a general cooling of interest.
Read: Apple debuts new 15-inch MacBook Air for $1,299, adds new Mac Pro and Studio PCs
While Apple is sitting on a number of multibillion-dollar businesses now, the company’s current big moneymakers weren’t seen as slam dunks when they launched. Evercore ISI analyst Amit Daryanani noted that critics dinged the early iPhone for a lack of third-party apps and keyboard and pointed to fading interest in watch-wearing more generally at the time the Apple Watch debuted.
Whether Apple can succeed again in making a once-questioned product category mainstream remains to be seen with the Vision Pro. The company could sell over 10 million units in the first five years, according to Daryanani, but that would make the device Apple’s slowest to ramp in the 21st century.
See more: Apple could be cooking up 3 more $10 billion-plus businesses, one analyst says
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Opinions expressed by Entrepreneur contributors are their own.
One of the most popular questions from a company hiring a PR agency is what journalist contacts they have and how deep their relationships are.
While it’s understandable to think this is important, it’s not the right question to ask a PR person. Regardless of who they know, they’ll only get responses if they bring their contacts a pitch that captures their interest.
This means it’s far more essential to find someone who can help you proactively source and react to newsworthy topics, generate fresh ideas to position you as a thought leader and assist you with creating angles and high-quality pieces that outlets will be eager to publish.
So, instead of asking who they know, focus on what they know, and ask them these five questions. Each answer will show you what results you can expect and if a particular PR professional is a good fit for your needs.
Related: How You Can Help Your Public Relations Provider Help You
News agency, Reuters, notes that relevance is the number-one driver of a great story, so another way to put this question would be, “Why should people care about what I’m saying?”
Your piece should be interesting to readers (including the editor or journalist you’re pitching to!) and have a unique perspective that makes it stand out from the crowd. The right PR agency should be able to suggest at least broad ideas about your business that can be later tailored to specific publications and will resonate with their readership.
The headline either grasps attention or loses a reader. Research shows that 80% of people will read a headline, but only about 20% read further than that. There is fierce competition for readers’ attention, so putting extra attention on the headline can be the difference between your content getting viral traction or only a few clicks.
When deciding whether or not to work with a PR agency, ask them what your story’s headline is going to be, and they should be able to produce a few options in a way that grabs your attention and makes you want to keep reading. This will also give you a good idea of what the focus of the story will be and whether it aligns with your business objectives.
Even though it’s almost never useful to spend a long time coming up with a headline (editors usually want to make their own), it’s a great exercise to filter for the best PR pros who understand both business and journalism.
The idea of a “news peg” means finding a relevant current event to tie your story to. It’s similar to the angle, but it’s more like what your angle is going to hook around. For instance, a greentech company could tie a thought leadership piece to an upcoming climate change summit or the ongoing European energy crisis. A cybersecurity company can tie a new product launch to a recent public data breach or call for government regulations on a trendy technology.
Finding the right “peg” for your story helps to make it timely and relatable. People read the news to have something to talk about with others, so pegging your story to an event is the ideal way to get it shared, read and talked about. Many large publications won’t even consider a story without a news peg. Be sure to check if your PR agency is immersed in the relevant news and can offer a way to logically insert you into the agenda.
Related: Why You Need A PR Agency and How to Choose One Wisely
When working with a PR agency, you want to make sure they have experience pitching to the publications that are relevant to your business.
It’s worth mentioning that the agency might not rattle off a list of tier-1 publications, and that’s not always a bad thing. It’s normal to think that you should always aim for the biggest outlets, but that’s not necessarily true. Instead of listening for “big names only,” ask them why they chose each outlet, which media formats they plan to focus on and who the readers are.
Sometimes, opting for more niche publications can enhance your reach and give you more leverage, boosting your ability to get your story in front of the right people. This is why asking these questions instead can help you gain insight into whether or not they understand your business objectives and how to appeal to your target audience.
As a writer whose work has appeared in outlets like Forbes, Fast Company and other large publications, I receive pitches every day. I’ve only written for those magazines as a freelance contributor, but people would suggest opinion pieces to me all the time as if I were an editor who had the power to approve or deny publications for the site.
These pitches show me how little media training PR people have because they don’t know the difference between a staff editor, a commissioning editor and a freelance contributor, and the formats they can offer to them. I’ve even seen these types of emails from people who are working with large consulting agencies. People without any background in journalism rarely understand how newsrooms work, and it leads to major blunders like this, which may get them blocked in journalists’ mailboxes.
The piece of advice here is to always pick the right editor or reporter to target with your pitch. If it is a news piece, you don’t send it to a commissioning editor, and if it is an opinion piece, any reporter would not be a good fit. Study the formats that the people in the newsrooms work with, and try to offer the most relevant piece so that it has the most chances of getting picked and published in the magazine.
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Anastasia Chernikova
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