Recently, a certain group of Singaporean investors made the headlines for submitting a bid to takeover Newcastle United Football Club - this is momentous as NUFC is one of the most popular institutions in English football and also that the tiny island state in Southeast East Asia yet again flexing its financial power à la Crazy Rich Asians.
What this entry would like to discuss is the slew of marketing faux pas that is overshadowing the deal. Startups, SMEs, and MNCs often have to make public announcements like these to attract users, partners, and investors - here are 4 things to note to avoid a similar situation.
In what should have been an exceptional time for the "world's fastest growing conglomerate" with interests in jewellery / real estate / tech to be receiving worldwide attention, it is instead receiving an exceptional grilling by the media, partners, and the general public.
This should be obvious to all - the 1st big boo boo: Photoshopping world leaders is a no no.
Understandably, to create an image of credibility, many would want to be associated with the posing with 44th President of the United States of America. However, this doctored image was called out almost immediately. Journalists, editors, and eagled-eyed netizens can easily spot a fake so trying to pull a fast one in such a grandiose manner is breathtaking in its audacity.
After Obamagate, the media was already suspicious. Further investigations revealed that there were various claims about its partnerships, businesses, and accomplishments being exaggerated.
The 2nd aspect of publicity to note is - Don't get ahead of yourself. This is where "fake it till you make it" does not quite cut it. Especially when under global scrutiny, the lack of a real address or being unable to back up your claims (worse when others actively counter it).
In most situations, the bare minimum would be to ensure that one's website and social media channels are aligned. Ideally, spelling, grammar, and context must be professionally done (in some situations even vetted by trained lawyers). Puffing one's chest isn't a bad thing, but clearly over-stating can come back to haunt you quickly.
The media is a powerful tool that businesses can utilise to reach their target audience . To do so requires first access to the right connections, creating the appropriate content for sharing, and finally pitching it well. So when the Group makes its announcement via press release distribution services, it is its 3rd thing to note: Not engaging with the media delivers low impact.
Don't misunderstand, press release distribution services are still necessary. In fact, in this situation, it showed one key perk of how press announcements previously disseminated can be retracted. At the same time, the fact that one's claims can be taken back means that it had no real consequence or reach.
In what is called the "Barbara Streisand effect", nothing that is posted on the Internet can really be taken away. Usually, in less prominent cases, where no one is reading this content, no one notices. But in a highly publicised case, anything and everything is in the public domain.
Finally, the climax of this show comes where key members of the Group start blaming unnamed marketing individuals within organisation and threatening law suits. The 4th point is to not point fingers.
At this point, the cat is out of the bag. It is already a debacle and this is time for the leaders to show leadership. In crisis management, throwing others (in the same company) under the bus is not a good look. It only further discredit the firm and show that things are in disarray. The fallout has already impacted the business with a prominent board member (ex-US Ambassador) cutting ties and now more directors dropping out. This publicity stunt instead opens up the group to more problems with shares suspended and its business interests being investigated.
Alternatively, admitting to the mistakes and sharing steps to clearly rectify it will go a long way. Perhaps even taking this chance to share an insight with an esteemed journalist to clear up any miscommunications - surely, acing a live interview that will instil some confidence in partners and investors alike.
Obviously, it is easy for commentators on the sidelines to judge. That said, it would be wise to note that the next time your business is announcing your arrival on the world stage to be better prepared than this Group.