Strategies to Raise Profile of Deal Announcements in Asia

How to maximise the impact of deal announcements according to local reporters in Southeast Asia

Maximising the impact of deal and transaction announcements in Asia can make corporates, funds and their advisors easily stand out for their peers. Done well, a transaction can be leveraged as a platform to communicate messages, such as growth. Done poorly, a deal announcement is simply ignored by the press.

Media outlets, whether local or regional, are inundated with press releases or other announcements from companies touting their latest deal. As a result, it is difficult to expect a ‘big bang’ for a transaction announcement, unless you are an industry leader or a deal is deemed strategic and significant.

Companies, funds and their communication advisors in Asia can, through a simple checklist, avoid many of the common pitfalls that result in limited interest and a missed opportunity.

Getting news past the filter: The journalist’s view

Here are a few golden rules that local and regional reporters have shared on communicating transaction news via press releases:

• The big B – A former Bloomberg News reporter shared with us the merits of press releases as a vehicle for transaction announcements. She said, “We think in terms of ‘Bs’. B for Bloomberg News. B for billions. B for breaking news or exclusive. We typically do not cover a transaction unless there’s a big B involved.”So, how do you achieve coverage with a key publication without a landmark deal that touches on one “B” rule?

• The Lego effect – A block of Lego may not seem special, but a massive Lego structure where each piece fits strategically into the next piece is not likely to be overlooked. In terms of impact, a one-off transaction press release is like a Lego block sitting alone. However, if you continue to build a bank of interesting portfolio activity, reporters will take notice.During a recent conversation, we asked an Asia markets and real estate reporter about covering transactions. Her response was, “I probably wouldn’t cover a sole transaction – unless the deal is if substantial size or from a big firm, like Blackstone, KKR or Carlyle.“However, if you tell me what’s unique about the deal and how it fits into an overarching trend – for example, company X is securing multiple deals through a unique structure – I would be more interested in covering the story.

The key is to find the underlying theme or current issue that makes your transaction relevant to local stakeholders. Then, add to the structure of an interesting story (as long as it is strategic and Asia-focused) for reporters. This could mean providing regular updates on a portfolio of interesting properties if the industry is real estate; or could entail highlighting the brand name of the buyer or seller in an M&A transaction.

• Peppering – A question we often ask clients when presented with a transaction announcement is: how does this relate to an ongoing trend or salient issue, or how does it reflect demand? We use the responses to these questions to pitch a compelling story for reporters.Other ammunition we can use to help engage media interest arise from the following questions:
  • Why should local stakeholders care?
  • Is there a local (ie, Asia) angle?
  • What overarching industry theme does this transaction relate to?
  • Why does this particular transaction stand out from others? What makes this a unique story for a reporter?
  • Is the deal structure unique?
  • Does this tie into a bigger emerging trend?Reporters actively seek unique trends and/or a contrarian view of a given industry. Drip feeding interesting comments or story ideas to a reporter is another way to navigate the media market in the absence of the “big B”
    
• S for superlatives – In addition to the “big B”, reporters keep an eye out for superlative when it comes to transactions. Over coffee with a group of local reporters, we brainstormed a few superlatives that might pique interest. The leading contenders were along the lines of:
  • The largest Singapore-listed REIT to date
  • The best performing [insert type of Fund]
  • The transaction was among the 5 largest this year in [insert country or region]
  • This transaction contributes to the largest annual volume of deals in XXX years
  • Best / worst year for deals over USD1 billion since…

• O for owned – Keeping with the alphabet theme, creating owned media can be an excellent way to supplement and sustain traditional media efforts. Most reporters will Google you when they first hear your name. Page 1 of the Google search should contain a mix of content, including press release announcements, social media content and white papers. This will add credibility and build visibility among media.In addition, we are increasingly working with clients in Singapore to harness tools such as LinkedIn and the content discovery platform Outbrain to generate awareness. Similar to the Lego effect, we recommend looking at a campaign vs. one-off engagement to maximise impact.

For example, Singapore Press Holdings, which houses first-tier dailies such as The Business Times and The Straits Times, partners with Outbrain. Depending on the content, keywords, campaign filters and how this fits into the Outbrain algorithm, content can be pushed out to these channels.

In the end, Singapore is a relatively small media market. There are only a handful of local dailies which are supplemented by regional publications and newswires. Trade media is very limited.

It takes a degree of finesse and creativity to secure favourable coverage in the local market. Against this backdrop, one-off announcements are likely to have much less impact on stakeholders than a sustained, localised campaign. Rather, we recommend that clients embrace the Lego effect, look for ways to pepper your story and consider investing in owned content.

Peggy Wu is the Head of Singapore at Ryan Communication. Follow her on Twitter @globalcupholder