Localizing Business Stories

Photo by Flickr user p22earl 1  

•   Execu&ve  director,  Donald  W.  Reynolds  Na0onal  Center  for  Business  Journalism  • Former  editor,  Lexington  (Ky.)  Herald-­‐Leader  • Former  execu&ve  editor,  The  News-­‐Sen6nel,  Fort  Wayne,  Ind.  • Former  managing  editor,  News  &  Record,  Greensboro,  N.C.  • Business  editor,  The  Philadelphia  Inquirer  

Austin Linda

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How often do you localize a national or international story?

A. Rarely B. Occasionally C. Frequently

Photo by Flickr user kojotomoto

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What was the last story you localized?

•       How did you get onto the story? •  Where did you find sources? •  How did it turn out?

Photo by Flickr user Colin_K 4  

New York Times: wind firms benefit from tax credit

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http://www.nytimes.com/2013/03/22/business/energy-environment/a-tax-credits-renewal-lifts-wind-projects.html

NWAonline: local wind firms

6  http://www.nwaonline.com/news/2013/mar/22/wind-firms-seek-clarity-irs-20130322/?business

White House: sequester in Arkansas

7  http://www.whitehouse.gov/sites/default/files/docs/sequester-factsheets/Arkansas.pdf

KARK 4: sequester in Arkansas

8  http://arkansasmatters.com/fulltext?nxd_id=647102

What you will learn

ü Why to localize business stories

ü Where to find ideas ü When to localize

business stories ü How to localize

business stories using a simple tool called the stakeholder wheel

 By Flickr user dok1

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Why localize business stories?

1. Fresh and enterprising 10  

Example: Localizing the Japanese tsunami

hLp://www.lasvegassun.com/news/2011/mar/16/tsunamis-­‐ripples-­‐could-­‐reach-­‐nevada/  11  

Why localize business stories?

2. Draws and engages audiences 12  

Example: Localizing the foreclosure crisis

hLp://www.azcentral.com/community/scoLsdale/ar0cles/2012/03/19/20120319arizona-­‐animal-­‐rescues-­‐face-­‐growing-­‐need-­‐foster-­‐owners.html  

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Why localize business stories?

3. Relevant Photo by Flickr user p22earl

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Example: Localizing the black farmers settlement

hLp://www.cnn.com/2011/10/28/us/black-­‐farmers/index.html?iref=allsearch  15  

2011

Example: Localizing the black farmers settlement

hLp://www.usatoday.com/story/news/na0on/2013/03/15/black-­‐farmers-­‐seLlement-­‐money/1991735/   16  

2013

Tips from Melissa Preddy

http://businessjournalism.org/author/mpreddy/ 17  

Tips from Melissa Preddy

http://bit.ly/blackfarmers

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Tips from Melissa Preddy

•  The  official  website  for  the  seLlement:  hLps://www.blackfarmercase.com/  

•  Has  list  of  law  firms  represen0ng  clients  

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Another tip: trade groups

•  The  Black  Farmers  and  Agriculturalists  Associa0on:  hLp://www.bfaa-­‐us.org/index.html  

•  Na0onal  Black  Farmers  Associa0on:  hLp://www.blackfarmers.org/  

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Another tip: finding trade groups

•  American  Society  of  Associa0on  Execu0ves  search:  

               

hLp://www.asaecenter.org/Community/Directories/Associa0onSearch.cfm   21  

Another tip: finding trade groups

•  The  Federa0on  of  Interna0onal  Trade  Associa0ons    

hLp://fita.org/members_dir.html   22  

Where to find ideas: 1. What you see

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Where to find ideas:

http://nyti.ms/NYTcandy

2. What you see in national media  

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Where to find ideas:

hLp://www.ers.usda.gov/publica0ons/err53/err53.pdf  

3. What you read in releases, reports  

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Example: Localizing agritourism

http://www.azcentral.com/business/articles/2012/02/02/20120202yuma-arizona-agritourism.html

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When to localize?

http://www.sltrib.com/sltrib/money/53658159-79/service-verizon-per-wireless.html.csp

1. Stories that impact your audience

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When to localize?

http://bit.ly/ZGqINh

1. Stories that impact your audience

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When to localize?

http://lplfinancial.lpl.com/find_an_lpl_financial_advisor.htm

1. Stories that impact your audience.

LPL Financial website

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When to localize?

http://www.nasaa.org/about-us/contact-us/contact-your-regulator/

1. Stories that impact your audience.

Arkansas Securities Department

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When to localize?

http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/

1. Stories that impact your audience.

FINRA Broker- Check

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When to localize?

http://www.adviserinfo.sec.gov/IAPD/Content/Search/iapd_Search.aspx

1. Stories that impact your audience. Securities and Exchange Commission Investment Adviser Public Disclosure

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When to localize?

2. People in town are talking about it  

http://businessjournalism.org/2011/10/26/hunting-season-ushers-in-whole-new-business-beat/

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When to localize?

3. You can bring some-thing special to the coverage

http://www.startribune.com/projects/96995289.html 34  

How to localize: Stakeholders wheel

HUB = News SPOKES = Primary stakeholders RIM = Secondary stakeholders Credit: Jacqui Banaszynski

By Flickr user dok1

 

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Example: Who are the stakeholders? Primary (spokes)

•  Governments (state, national, foreign) •  Beef ranchers •  Consumers

Secondary (rim) •  Lobbyists •  Meat processors •  Food distributors •  Butchers •  Grocery stores •  Restaurants •  Health inspectors •  Chicken, hog farmers • Schools Credit: Jacqui Banaszynski

   

 

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Exercise: Localizing gas prices

hLp://abcnews.go.com/GMA/video/gas-­‐prices-­‐force-­‐drivers-­‐extreme-­‐measures-­‐crazy-­‐lengths-­‐save-­‐money-­‐travel-­‐costs-­‐fuel-­‐oil-­‐13457953   37  

Stakeholders wheel

HUB = News SPOKES = Primary stakeholders RIM = Secondary stakeholders Credit: Jacqui Banaszynski

By Flickr user dok1

 

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Gas: who are the stakeholders?

hLp://www.wcmessenger.com/2011/business/looking-for-a-better-way/  39  

Gas: who are the stakeholders?

http://www.huffingtonpost.com/2012/02/23/super-commuters-on-the-rise_n_1296488.html 40  

Gas: who are the stakeholders?

http://www.azcentral.com/arizonarepublic/news/articles/2012/03/07/20120307business-gas-prices-handle.html 41  

Gas: who are the stakeholders?

http://www.salemnews.com/business/x928075761/Rising-gas-prices-eat-up-service-station-owners-profits 42  

Gas: who are the stakeholders?

•  “Yiannis Melidis, co-owner of Pegasus Restaurant & Taverna, at 130 S. Halsted St. in Chicago, said fuel surcharges on such services as seafood delivery and garbage pickup have boosted the cost of running his business by 3 to 4 percent. Pegasus is absorbing those costs, but to keep profit margins from shrinking it has been cutting employees' hours. A waiter who had worked 32 to 36 hours a week, for example, now works 28 to 30 hours a week.” – Chicago Tribune, March 7, 2011

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Gas: who are the stakeholders?

http://www.tri-cityherald.com/2012/03/26/1879532/fuel-fertilizer-prices-perplex.html

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Gas: who are the stakeholders?

hLp://www.tampabay.com/news/business/autos/amid-­‐rising-­‐oil-­‐prices-­‐makers-­‐of-­‐corn-­‐based-­‐ethanol-­‐crank-­‐up-­‐output/1155854  

Photo by Flickr user lincolnearthday

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Gas: who are the stakeholders?

hLp://www.kentucky.com/2011/05/29/1756592/cumberland-­‐marinas-­‐hope-­‐gas-­‐prices.html#storylink=misearch   46  

Gas: who are the stakeholders?

http://www.tdtnews.com/index/news/show/85550?title=Rising+gas+prices+affect+city+budget

By Flickr user Linus Henning

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Gas: who are the stakeholders?

http://cronkitenewsonline.com/2011/03/increased-gas-prices-may-impact-food-pantries-outreach/

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What you learned ü Why to localize business stories ü Where to find ideas ü When to localize business stories ü How to localize business stories using the stakeholder wheel: o  Hub =news o  Spokes =primary stakeholders o  Rim =secondary stakeholders By Flickr user dok1

 

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•   Execu&ve  director,  Donald  W.  Reynolds  Na0onal  Center  for  Business  Journalism    Linda.aus0n@businessjournalism.org  @LindaAus0n_  602-­‐496-­‐9187    BusinessJournalism.org  @bizjournalism    

Austin Linda

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Tips from Melissa Preddy

http://businessjournalism.org/author/mpreddy/ http://bit.ly/MelissaPreddyRSS 51  

Handouts, slides, video

http://bit.ly/self-guided-training 52  

Upcoming free training

http://bit.ly/bizjtraining 53