Changes in news reporting – what this means for Financial Planners
This week has seen so many twists and turns in the world of tabloid newspaper reporting that you could think that you were on the big dipper at Blackpool Pleasure Beach.
The allegations that a leading tabloid newspaper intercepted voicemails on the phone belonging to an abducted teenage girl has left many of us with feelings of anger. This follows numerous reports over the last six months of the same newspaper intercepting the mobile phones of celebrities, sports figures and aides to the Royal Family.
It will be interesting to see if in the days and weeks ahead, circulation figures for the newspaper in question go down or hits to their online news site take a knock.
No-one can deny that the British tabloids are their own brand of journalism, their ferocity to jump on news leads and secure a story (at whatever price) means that they are often seen as a law unto themselves. As they often pay good money for information, they're likely to get scoops that the traditional broadsheets may miss.
As financial planners it is highly unlikely that you will ever need to secure the exposure of a leading red top but it does pose wider questions around how their approach to news generation affects other press, including trade magazines, consumer lifestyle press and regional news sites.
All Journalists are asked to adhere to a code of ethics - principles of truthfulness, accuracy, objectivity, impartiality, fairness and public accountability. Essentially this offers a framework of how reporting 'should' be, but as the past few weeks have proven, this is not always adhered to.
The nature of news is changing and in recent years the growth of 'citizen journalism' has offered a new dimension - the idea that private individuals can do essentially what professional reporters do. In fact, the emergence of the Internet - with blogs, podcasts, streaming video and other web-related innovations has made citizen journalism easier.
The idea of citizen journalism has undoubtedly given financial planners more opportunity. Being asked to provide your expertise on a particular topic or blog around a particular issue of the day increases the exposure of your brand. Building your brand online has never been easier but sadly there is a thorn amongst the roses. You need to remember that all your hard work building your brand can be potentially damaged by one negative review or comment.
As we navigate the murky water of online media reporting, a greyer picture around ethics is emerging. Recent reporting has shown that some journalists are willing to push the ethical boundaries for the sake of securing a story.
Citizen journalism is also on the increase - the fact that now anyone can broadcast content from their home computer, unaware of the ethical consequences of their position has meant businesses, both large and small have to work that little bit harder to protect their brand through proactive reputation management.
Clientsfirst is a full service marketing agency dedicated to the professional advisory sector. Further information can be found at www.clients-first.co.uk
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Author: LifeTalk Admin (Bella)
Posted: Thursday, July 07, 2011 | 9:00:54 AM