Weak economy can bring strong opportunities, Alschuler tells Real Estate Technology Forum

Real Estate Weekly, March 20, 2002

Challenging economic times can offer unique opportunities for businesses to differentiate themselves and project their stories through the media in a high-impact way, according to Steven Alschuler, president of Linden. Alschuler & Kaplan Public Relations, the featured speaker at the recent Real Estate Technology Forum, hosted by Mintz, Levin, Cohn, Ferris, Glovsky & Popeo.

"Even in a challenging economy, there are strong opportunities for proactive companies to build their reputations, establish credibility and lay a foundation that will put them ahead of their competition when market conditions improve," said Alschuler. "Even in the most difficult times, it's possible to generate positive media exposure that can yield significant benefits."

Speaking to a group of top real estate and technology professionals, Alschuler noted that a creative and proactive public relations strategy can enable a company to generate the kind of media exposure that distinguishes it from competitors, builds stature, increases employee morale, boosts investor and customer confidence, supports deal making and creates a context that helps to protect against the formation of misperceptions.

Jeffrey Moerdler, New York Office Section Head of Mintz Levin's Communications and Real Estate practices and co-chair of The Real Estate Technology Forum, commented: "The issues affecting companies at the intersection of real estate and technology are critical to the future of our economy. By serving as a venue for sharing information and discussing ideas, the Real Estate Technology Forum is a crucible for developing strategies that will move companies forward in the coming years."

Jonathan Rudes, executive vice president and chief operating officer of William B. May International and co-chair of The Real Estate Technology Forum, said: "Every real estate owner needs to recognize the value of public relations in positioning buildings to achieve their greatest value. This forum focused on dealing with the media, but it was about much more than that -- it was about competing effectively in a marketplace in which the media has significant influence."

Alschuler offered the following tips on working with the media in a challenging environment:

* Know the media. It is critical to understand what the media is writing, about generally and what reporters are covering specifically. Sending out press releases, en masse may not generate favourable results. However, if you identify and contact a particular reporter who's interested in a certain subject that's relevant to you, your odds of success increase significantly.

* Tie into current events and breaking news. Become part of the story. For example, how does the overall post-Sept. 11 environment relate to your individual project? What are the implications of Sept. 11 for telecom companies? For real estate projects? What are you doing to enhance security, to build better data recovery systems, to ensure power supply, to manage your facilities better? These could all be stories.

* Be a source. It may be harder to pitch stories specifically about you. But you can get a lot of mileage out of trend stories that you're included in. Being a source on relevant topics can focus attention on your expertise, rather than your stock price, and create a strong, positive impression among your key audiences.

"As New Yorkers, we have all been part of one of the biggest news stories in history. But every individual business is also part of a larger story in their industry and in the industries they serve. If you can identify them, the media will pay attention. And taking a proactive, knowledgeable and sophisticated approach to the media -- whatever the business climate -- can produce a variety of benefits."