The “exclusive” is a very valuable tool in the PR world that can make or break a story’s impact. But what exactly is an exclusive and why is it so important?
What is an exclusive?
In PR terms, an exclusive means giving a specific journalist or media outlet sole access to a particular story, piece of news, or information before anyone else. For law firms, announcements which work well as exclusives are firm mergers or acquisitions, a new office opening, a senior or team hire from a competitor or the resignation/appointment of senior leaders.
This means that the chosen journalist or outlet gets to “break” the news first. Where there has been an agreement to grant an exclusive, organisations usually agree not to share the relevant information with other media for a specified period.
Back in May this year, the FT broke the news via an exclusive that A&O was merging with US firm Shearman, see link. For smaller firms, it may be more realistic to get exclusives with the legal press such as Law.com International (formerly Legal Week) or The Lawyer.
Why are exclusives Important?
- Maximizing impact: By offering an exclusive, PR professionals can ensure that a story gets maximum attention and makes the biggest impact. When a respected media outlet breaks the news, it can gain more credibility and visibility than if the information were shared simultaneously with multiple sources.
- Controlled narrative: Exclusives can provide control over the narrative surrounding a story. By selecting the right journalist or outlet, the PR team can shape the story’s tone, focus, and messaging, ensuring that it aligns with their client’s objectives.
- Building relationships: Offering exclusives can strengthen relationships with key journalists and media contacts. When journalists consistently receive valuable and exclusive content, they’re more likely to turn to your law firm as a trusted source in the future.
Tips for Leveraging Exclusives in PR:
- Choose wisely: Select the journalist or media outlet that aligns best with your client’s target audience and goals. Consider their reach, credibility, and previous coverage in related areas.
- Timing matters: Timing is critical. Offer the exclusive well in advance of your desired publication date to allow for thorough research and quality storytelling.
- Clear agreements: Ensure that all parties involved understand the terms of the exclusive arrangement, most importantly be very clear about the embargo period (the time during which other media outlets must wait before reporting on the same topic).
- Follow up: After the exclusive is published (and any embargo period has lapsed), follow up with additional media outlets to share the story more widely. This can help amplify the impact and reach of your client’s message.
Conclusion
Exclusives can be a fantastic PR tool when used effectively. If you pitch appropriate stories – those which are significant enough to warrant an exclusive – to the right outlet (both traditional and social) the power of the exclusive can really enhance the impact you want to make.
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