No organization operates in a vacuum, as every business and PR executive knows. External forces can quickly influence business strategy or put a brand’s reputation at risk. That’s why the monitoring of trends and emerging issues is essential, especially for businesses that operate globally or across multiple regions. By knowing what is being said on TV or radio, businesses will be aware of changes in consumer perception and behavior.
For example, airlines, automotive manufacturers, and travel businesses are all susceptible to shifts in commodity pricing, disruptive events, or changing market conditions. A case in point is the potential impact of the price of oil, which has dropped quickly since July 2014. Some analysts are predicting the price of crude may fall further yet, to a low of $30 a barrel.
This is a boon for consumers looking to fill their gas tanks cheaply or hoping to find deals on other goods. But for the airline, automobile, and travel industries, the falling price of oil opens up new opportunities at the same time it presents new risks.
But by keeping a close eye on shifting public opinion, business executives can make timely adjustments to their strategic plans. And PR executives can manage perceptions by correcting misinformation quickly.
Television news is the dominant way Americans get their news, according to the Pew Research Center, and most people turn to local broadcasts. For industries with customers in local markets around the globe, it’s vitally important to understand exactly how issues are playing out in every region on TV.
