Thought Bubble
The decision by ratings agency Standard & Poor’s (S&P) to downgrade the United States’ sovereign debt from AAA to AA+ elicited an avalanche of commentary from the industry, the media, the government and the public.
The main dialogue focused on whether or not S&P made an appropriate decision (not to mention the issue of that $2 trillion calculation error). But the controversial move also reignited ongoing debates over the state of the credits rating industry – specifically the role and position of the “big three” (S&P, Moody’s and Fitch) – in the wake of the financial crisis where the ratings agencies gave AAA status to mortgage-backed assets that quickly turned toxic.
This offered up a powerful opportunity for a new market entrant to voice its perspective on the significant and systemic problems with the credit ratings “status quo,” and the changes needed to re-establish credibility.
On August 30, 2010, the U.S. Department of Transportation (DOT) and the U.S. Environmental Protection Agency (EPA) jointly proposed two new fuel economy label designs – labels consumers see on the window of every new vehicle in dealer showrooms. The goal is to help consumers make the best economic and environmental decisions when buying a new car, ultimately increasing the number of fuel-efficient vehicles on the road. With the release of the new designs, the DOT and EPA provided a 60-day public comment period to encourage honest feedback from consumers.
With the intent of exploring which of the two proposed labels would be most understandable to the average American, CooperKatz client Siegel+Gale, a global strategic branding firm, commissioned a nationally-projectable survey in late September. The survey found both labels to be confusing. Overall, 66 percent of respondents rejected the version that emphasized a prominent letter grade (the vertical label) and favored the one that focused on miles per gallon (the horizontal label). Yet while consumers preferred the horizontal label, 38 percent found some aspect of the design confusing as well.
Real estate trends and prices continue to dominate news headlines, as debates on just where the housing market may be headed rage on. In a move to add further insight (and in many cases, balance) to the conversation, CooperKatz client Coldwell Banker Real Estate debuted a new measure of affordability in the U.S. housing market in late September. The Coldwell Banker Home Listing Report is a snapshot survey of four-bedroom, two-bathroom home listings on coldwellbanker.com between February and August 2010 in nearly 300 U.S. markets and select Canadian markets where Coldwell Banker has a presence.
Everyone deserves a home, even if it’s just for the holidays. Inspired by the book and Hallmark Hall of Fame movie “A Dog Named Christmas,” Petfinder.com launched the first-ever “Foster A Lonely Pet for the Holidays” program, giving families the chance to welcome an adoptable pet into their home for the holiday season (ideally from Christmas Eve until New Year’s Day).
This week, Ad Age published a story written by Michael Bush titled, “As Media Market Shrinks, PR Passes Up Reporters, Pitches Directly To Consumers.” Bush notes in the piece that traditional approaches to public relations are challenged now given ongoing shifts in the media landscape — and that “instead of pitching their stories to reporters, a growing number of marketers are directly engaging consumers through original content they and their agencies are creating.”
Creating original content and sharing it directly with consumers is no doubt a growing trend. But I would also argue that we’re not, in fact, “passing up” reporters in favor of going direct to consumers. What we’re actually doing is using this same fresh, brand-created content to connect with both “audiences!”
It’s increasingly difficult to break through the clutter and share ideas with the media. Sure, picking up the phone is still important, but often editors and producers prefer an email pitch. But how many of those do they get a day? Even the most tailored, appropriate, spot-on story idea for the absolutely ideal reporter may simply not be “heard” above the fray.