Navigating 24: Trends in Comms and Media

At Cosmo, we’ve been monitoring a number of emerging trends in the media and communications landscape and thinking a lot about their impact on the industry and our clients. In particular, we’re paying close attention to the role of Generative AI in comms, the increasingly crowded digital news environment combined with a rise in paid placements, a deepening integration of comms and marketing content, and the influence of macroeconomic conditions on businesses and their teams. And, of course, this election year will also offer its own challenges for executives and comms teams. As we navigate these dynamics, we believe it represents an opportunity for responsive teams to create positive momentum and even strengthen public perceptions of their purpose and work. 

Generative AI and its Role in Comms

Generative AI is a transformative force playing out across businesses and within them. This is no different for the PR and communications industries, where new AI tools have the potential to completely reimagine how professionals work, are valued and measured. 

Regardless of whether an individual regards it as friend or foe, there is no arguing that it’s a powerful tool for increased productivity. For example, ChatGPT can be used to help generate content ideas, test titles, and offer improvement suggestions. 

But no matter how effective it is at transcribing notes or creating pitch angles, it is not a replacement for good writing. Behind good writing is good thinking. And there remains a need for the human touch in developing good compelling content. If a team is using AI to produce content, they must be aware of, and avoid, potential pitfalls to ensure quality output. There is a need to have clear guardrails in place, whether using it for inspiration or for work product, as AI has been prone to display an inherent bias at times and complete hallucinations at others. It’s equally important that agencies or companies who use generative AI in public-facing materials be both transparent and authentic about its use as well as diligent in the proofing and approval process, as shown by the experiences of Sports Illustrated and others.

The Proliferation of Content and the Rise of Paid Placements

The practice of submitted content - which is core to many thought leadership driven comms campaigns - has changed dramatically since the pandemic. With a noticeable increase in produced and pitched content, editors across the board continue to be more discerning and timelines have grown longer (it can take months to place some pieces). Many have even expanded their business models and begun to charge fees in response to the rise in byline submissions. 

Cosmo is adapting by helping clients revitalize their content strategies, shifting towards building clients' content engines, and reducing their reliance on the media. Doing so allows businesses to sidestep challenges posed by media restrictions and enables them to have more control over their narrative and reach their audiences. An added benefit of flipping the script from marketing- or SEO-driven content to a comms-led approach is creating more use cases across an organization for that content and deepening their bench of spokespersons so they can reach all of their key constituencies, including customers, partners, employees, and investors.

Combating Misinformation and Creating Compelling Stories with Data

Alongside  proliferation of submitted and paid content, the rise of misinformation and bias online have created an opening for more data-driven storytelling. Both readers and the media increasingly prefer data-driven stories as it helps to validate and tell a believable, evidence-based story. 

We have long encouraged clients to use regular data reporting to convey insights and learnings. If done consistently and well, it can create powerful narratives with a longer shelf life that can also be regularly updated. For example, the Financial Health Network has consistently published data in the form of its annual Financial Health Pulse (and more frequent sub-reports) and the FinHealth Spend report that produce coverage all year long and have become highly anticipated events by media members and industry observers.  

One-time data is also valuable. We recently conducted a YouGov survey for a client and have used the resulting data in multiple marketing channels and other forms of coverage with hospital partners and media outlets. 

Of course, any use of data requires careful attention to the rules of engagement. Protecting user or customer private information is paramount, and some industry sectors have specific rules and regulations regarding confidentiality and data sharing. But done properly, using data to validate or reinforce a company’s purpose and stories makes it more useful and interesting for reporters and core audiences, helps overcome rising barriers to media coverage, and builds trust and reputation. 

Economic Impact and Doing More with Less

Economic conditions over the last couple of years culminated in a tough 2023 for the tech sector with tighter budgets, a pullback in venture funding and tougher selling conditions. In an effort to maximize cash and extend runways, many companies cut staff, reduced vendor budgets and drew down on marketing and comms programs. 

Having been in business for more than twenty years, we - along with our clients - have weathered these cycles before and know it will bounce back. But creative, responsive comms teams can use this as a chance to help clients pivot and do more with less. Our clients inspire us with their resiliency and sense of purpose. As we help them navigate new challenges and creatively build their brands and reputations with augmented comms strategies, we anticipate that the changes in technologies, strategies, and economics will result in stronger, more resilient teams and organizations. Those that leverage honed skills, good strategic thinking, clear communications, and trust building can strategically and skillfully guide companies and leaders through these transitions to expand their business and fulfill their purpose.