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Corporate Media Relations: Preparing for an Interview
(0) Corporate Media Relations: Preparing for an Interview

Introduction

Handling media inquiries about an issue or event—or sharing an organization’s achievements—often involves live interviews. Understandably, many people worry about saying the wrong thing in such a situation.

The prospect of being interviewed can unsettle even the most confident individuals, especially given stories of probing questions from aggressive reporters or hosts seeking compelling answers for their audiences.

With thorough preparation and a solid understanding of the news media, you can approach any media interview with confidence and avoid being at a disadvantage.

Understanding the Media Environment

This guide is focused primarily on daily media, where the pressures of deadlines, competition, and advertising ratings create a unique environment for reporters and hosts. These factors distinguish daily media from other forms of communications media. The advice given in this article offers guidance on how to prepare for and protect yourself during the interview, how to use interviews to your advantage, and how to channel your pre-interview nerves productively.

Reporters are There to Do a Job

Most reporters are not seeking to embarrass or discredit interviewees, they are primarily interested in the story. However, they may make exceptions if they believe important information is being deliberately concealed. It’s their job to ask probing questions as part of the interview process, and you must prepare for highly informed and tough questioning.

What Is “News”?

Preparing for media interviews requires an understanding of what the media consider to be “news”. Ultimately, news is determined by media decision-makers based on what they believe is important to the public at the moment, not necessarily what you think is important. Only the most newsworthy stories are covered, and even those are limited by available time or space. Not all interviews result in media coverage.

News as Entertainment

Broadcast media are part of the entertainment industry. Their content is designed to be engaging and fast-paced to retain audience attention, often favoring stories that are entertaining, controversial, or tightly focused. Interviews are typically brief unless the topic is very current or fills a programming gap. Media competition is intense, and ratings and “likes” are the top priority. Reporters seek exclusive stories and memorable “sound bites”, which can sometimes be taken out of context or be unrelated to your main message. Avoid off-the-cuff humor, as it may be used as an embarrassing sound bite.

Know Your Interviewer

Some forms of reporting – particularly on social media – involve the reporter as part of the story, sometimes bringing their own biases or seeking interviews to support pre-existing views. Learning as much as you can about the interviewer ahead of time will help you prepare appropriately.

Preparing Yourself Before the Interview

Preparation is critical to a successful media interview. Pre-interview preparation can be as important as anything you say during the course of the interview itself.

Give yourself sufficient time to thoroughly prepare. Whenever possible, avoid spontaneous interviews; being unprepared may make you seem indecisive, evasive, or even incompetent. Here are some key things to remember to help you prepare properly so you can keep your cool and quell those pre-interview nerves.

Clearly define the goals and key points you want to underline.

Ask yourself the following question: What do you hope to accomplish in this interview? Write down your objectives to keep them top of mind throughout the process.

Develop a brief list of key points that you want to make during the interview. Limit these to only two or three for most interviews. Experienced interviewees often weave these key points into many of their responses to ensure their main messages are being communicated.

Determine the newsworthiness of your story.

If you are the one who is inviting the media to conduct the interview, be very sure that the information you plan to share is truly newsworthy. Seek professional advice if necessary. Remember that what constitutes news is determined by the media—not by you. Reporters must see an angle in your story that their viewers / listeners / readers will find interesting enough to consume.

Get details of media contacts.

If a reporter contacts you to ask for an interview, find out their name, the media outlet they work for, phone number(s), the purpose of the interview, name of anyone else being interviewed for the same story, and the deadline by which the story will be published. Keep a record of this information, especially if you will be participating in multiple interviews.

Prepare potential Q&As.

Anticipate possible questions and prepare concise answers. Pay special attention to awkward or difficult questions that a reporter might ask. Once you have mastered responses to the toughest questions, the rest should come more easily.

DON’T refuse a request for an interview.

Refusing an interview is rarely a good option. It will look like you have something to hide. If you decline to be interviewed, the information void will likely be filled by less informed individuals—or even your critics or rivals.

Rehearse, rehearse, rehearse.

Conduct as many mock interviews as possible. Ideally, these should be facilitated by an external professional rather than an internal employee, as employees may hesitate to ask potentially embarrassing questions—precisely the kind of questions that these rehearsals should be addressing.

Record your practice interviews and review them thoroughly, identifying strengths and weaknesses. Repeating rehearsals and reviewing playbacks is a powerful tool in your preparation toolbox.

Choose the interview location, if at all possible.

If you have a choice, you – not the media contact – should be the one selecting the interview location. Try to choose a room where you can control access and display your organization’s logo behind you, maximizing exposure for broadcast media and photographers.

Image by Pexels from Pixabay

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You cannot invest capital without being exposed to one or more types of risk. It’s impossible to avoid risk entirely – but you can manage that risk through diversification of your assets. We’ve all heard the expression “don’t put all your eggs in one basket.” The objective is to ensure that no single event could significantly reduce the value of your assets.

Five major risks of investing are:

  • Capital Risk - the loss of a portion of your investment capital on equity investments due to declining prices.
  • Capital Default Risk (similar to capital risk) – failure by a debtor to repay the principal on a debt instrument such as a GIC or bond.
  • Currency Risk - your investment is in a country whose currency is declining in value.
  • Interest Rate Risk - the risk of locking into a long term debt instrument when interest rates subsequently rise or, alternatively, locking into a short term debt instrument when interest rates subsequently decline.
  • InflationRisk - loss of purchasingpower due to rising inflation.

How Diversification Can Improve Your Returns Over the Long Term

Let’s assume that Bill and Sarah each decided to invest $100,000. Bill decides he will invest his capital in a fixed income investment for twenty years earning an 8% interest rate. Sarah has decided to diversify by investing her capital equally in 5 different investments at $20,000 each. The table below is a conservative estimate of how their investment returns could look in 20 years’ time.

 

BILL

SARAH

$100,000 @8%

$458,545

$20,000 @a complete loss

$0

 

 

$20,000 @15%

$310,428

 

 

$20,000 @10%

$125,100

 

 

$20,000 @5%

$47,610

 

 

$20,000 @0%

$20,000

Total

$458,545

Total

$503,138

 

Allocating Your Assets Among a Variety of Investment Types

As you accumulate assets for retirement, your objective is to achieve an adequate return on these assets at a risk level that is comfortable for you. Aportfolioconsistingentirelyormostlyofonetypeofasset is not going to perform as effectively or efficiently as a portfolio with a mix of assets.

You can diversify your investment capital in a number of different ways:

  • first, a mix of asset classes of cash, fixed income and equity;
  • second, geographic diversification which provides a mix of different performing economies and political situations, as well as currency diversification;
  • third, within a specific asset type, you could utilize different categories such as government bonds and corporate bonds for fixed income, or using large capitalized equity and small capitalized equity;
  • fourth, if you are investing in mutual funds, use a variety of managers with different investment styles.

The Life Cycle of Investing

Your investment strategy should change over time, as you get closer to retirement. As you begin your working life, you have many years to earn an income and are therefore in a stronger position to handle the volatility of equity. As you near the end of your working life, you have fewer years of income generation and should adopt more of a capital preservation strategy. This is called the life cycle of investing.

  • As a young investor, your investment strategy can tolerate as much as 75% equity investing, with the balance in cash funds.
  • By your 40s you should diversify into a mix of cash, fixed income and equity.
  • As you head into pre-retirement, fixed income should make up about 50% of your overall investment portfolio.

Designing Your Portfolio

When designing an appropriate portfolio for yourself, you needtoconsiderbothinternalandexternalfactors.Internalfactorsinclude:

  • your risk tolerance
  • your investment objectives
  • your time horizon
  • your needs for liquidity
  • your financial circumstances
  • your marginal tax rate

External factors that you should take into consideration are:

  • outlook for interest rates
  • outlook for inflation
  • outlook for the domestic economy and global economies
  • outlook for your domestic currency
  • outlook for national politics
  • outlook for federal debt levels.

Review your portfolio each time any of these factors, both internal and external, change significantly.

Don’t fall into the pitfall of making decisions based solely on the risk and potential rate of return, but instead consider them in the overall context of your portfolio. You will want to have some low risk investments in your portfolio for cash emergency purposes. But for higher rates of return, keep some high risk investments as well, so long as these high risk investments are kept to an appropriate percentage of your overall investment strategy.

INVESTMENT OBJECTIVE

IMPORTANCE OF OBJECTIVE

A Must

High

Neutral

Small

None

Current Income

2

4

6

8

10

Liquidity

2

4

6

8

10

Capital Preservation

2

4

6

8

10

Short Term Volatility

2

4

6

8

10

Growth Of Capital

10

8

6

4

2

Tax Advantages On Income

10

8

6

4

2

Deferred Tax Growth

10

8

6

4

2

TOTAL SCORE                                           _______________

 

 

TOTAL SCORE

BALLPARK ESTIMATE - ASSET ALLOCATION

Cash & Illiquid Fixed Income (Savings Account, Money Markets, Treasury Bills, Term Deposits, GIC’s, Annuities)

Liquid Fixed Income

Equity

Bonds, Mortgages, Bond Mutual, Mortgage Mutual

Common & Preferred Stock, Real Estate, Growth Mutual

14 - 20

60%

30%

10%

22 - 30

40%

40%

20%

32 - 40

30%

30%

40%

42 - 50

10%

30%

60%

52 - 60

10%

20%

70%

62 - 70

5%

5%

90%

Image by Gerd Altmann from Pixabay