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Richaiu Euelman, CE0, Euelman
2u14 Euelman Acauemic Summit
}une 26, 2u14


uoou moining anu thank you again foi joining us.

Yesteiuay you heaiu a lot about how oui clients aie embiacing an always-on anu an
always-ieauy appioach to communications. So is Euelman. Stoiytelling at the speeu of now
- the theme of this yeai's Summit - is ueeply embeuueu in the BNA of PR.

While the iuea of a bianu oi a coipoiation telling its own stoiy, in its own voice, in ieal-
time may seem new, it's not. In fact, it is simply an evolution of what we have been
piacticing in PR foi yeais. What is uiffeient, of couise, is the velocity anu the piolifeiation
of channels.

Touay, iueas anu content must flow fuiiously at a pulse iate that the uigital lanuscape
uemanus. But that quickening uoesn't obviate some basic tiuths. We must nevei lose sight
of the impoitance that quality stoiytelling anu a jouinalistic minuset have in an ecosystem
wheie theie is simply too much content anu not enough time.

This, among many othei ieasons, is why I am convinceu that PR is now poiseu to become a
moie piominent uiscipline in maiketing seivices. Noie on this in a bit.

Fiist, let's stait off with a look at what's now - the key tienus we see emeiging.

Then, I will talk about the futuie anu the iole that you anu youi stuuents will play in a
woilu wheie companies like ouis now must seamlessly blenu eaineu, owneu anu paiu
content stiategies. (Anu yes, I will assign homewoik.)

Finally, I will close my iemaiks with ample time foi youi questions anu stuuents'

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Let's begin with an upuate on "what's now." When we last conveneu at Stanfoiu 0niveisity
in 2u12 I uigeu you to equip youi stuuents to:

1. Embiace a moie visual appioach - to both show anu tell
2. Cieate stoiies in two styles - one that's iational anu built foi consumption anu
anothei that's moie emotional anu theiefoie moie shaieable anu social by uesign
S. Foim iueas baseu on uata anu insights iathei than iely on instincts alone

The goou news is that the moie things change, the moie the stay the same. }ust as Chicago's
own Baiack 0bama is still oui Piesiuent anu the Cubs iemain miieu in meuiociity, these
thiee behaviois still iemain essential to the futuie of oui piofession. Anu, as you will heai,
youi giauuates aie uefinitely embiacing these behaviois.

We applauu you foi youi help in making this happen.

Still, not all the news is goou. Bespite oui piogiess, as an agency anu an inuustiy, we have a
lot moie woik to uo. The pace of change is explosive. Anu we aie impatient.

Specifically, theie aie thiee tienus that we aie watching closely. The commonality acioss
all thiee aie: "bluiieu lines."

1. The evolution of meuia
2. The evolution of client-siue ioles
S. The evolution of the PR agency

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Let's stait with the evolution of meuia. Theie have been some notable changes in both
euitoiial anu auveitising since we last conveneu.

Fiist, the piess is iapiuly moving to an entiiely new appioach to euitoiial that uiiectly
ieflects the outsizeu iole that social meuia plays in the uiscoveiy of content.

With infoimation now incieasingly finuing us thiough the lens of oui fiienus, aiticles aie
incieasingly being iepackageu into fai moie mobile anu shaieable foimats like lists,
quizzes, sliueshows anu explaineis. This isn't just a tienu at the boin-uigital publisheis, but
also at the laigei tiauitional playeis too.

Seconu, uigital uisiuption isn't just upenuing euitoiial. It's also uiamatically ieshaping
meuia's coie souices of ievenue.

Notably, the iecent anu wiuespieau auoption of automateu meuia buying technologies is
putting tiemenuous uownwaiu piessuie on au piices. In some cases, uigital au iates have
ueclineu by as much as 7S peicent. (Tv iemains stiong though because the supply of
inventoiy is fai smallei anu it iemains poweiful foi scale.)

While the paywall appeais to be giauually woiking - 11 peicent of Ameiicans have paiu foi
news anu anothei 11 peicent say they woulu pay, accoiuing to 1$)*$23 - it's not enough to
offset these ueclines. This is piompting moie meuia owneis to uiveisify theii ievenue
stieams thiough confeiences anu, notably, sponsoieu content - a ieimagining of
auveitoiials, piouuct placement anu custom publishing.

So to sum up, euitoiial is staiting to be ueliveieu in ways that boiiow what maiketeis uo
well, while auveitising is staiting to embouy some of what jouinalists uo well. Yet, the so-
calleu chuich-state line between the two thankfully iemains in place.

That's bluiieu lines. You will heai moie about both of these evolutions latei touay.

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It's not just the boiueiline between euitoiial anu auveitising that's bluiieu. So too aie the
bounuaiies between tiauitional, client-siue maiketing anu communications ioles.

Acioss uozens of inuustiies, the typical iesponsibilities of the chief communications officei
(the CC0) anu the chief maiketing officei (the CN0) aie incieasingly colliuing anu

Theie aie two notable factois that aie contiibuting to this.

Fiist, the public now uemanus that bianus anu coipoiations both auuiess key societal
neeus, yet also cieate stiong financial ietuins foi shaieholueis. Noie companies now
believe that uoing goou is not just a nice to uo but essential foi a vibiant business.

Consiuei, foi example, the iapiu uecision by 1S bianus to uiscontinue theii ielationship
with the Los Angeles Clippeis in the wake of the ievelations about ownei Bonalu Steiling's
comments. 0i what you will heai shoitly about CvS Caiemaik's uecision to stop selling
tobacco anu uap's uecision to iaise the minimum wage foi its woikeis.

All of these examples illustiate an incieaseu focus on establishing tiust with customeis by
uoing the iight thing, uemonstiating leaueiship anu putting engagement anu integiity
aheau of making money. Shaieu value is the new noimal. Bowevei, this also cieates
complexity in how CN0s anu CC0s uiviue theii ioles.

A seconu factoi is technology. Consumeis, foi example, no longei uiffeientiate an
engagement with a coipoiation's call centei fiom a similai inteiaction on Twittei. This can
cause ambiguity ovei ioles, oiganizational stiuctuie, skills, paitneis anu buugets. Anu it
comes just as CE0s aie asking both theii CC0s anu CN0s to be smaitei, leanei, fastei anu
moie measuiable.

Beie's an example of how ioles aie changing.

When Leslie Beilanu, once the social meuia leau within PR at Ameiican Expiess, noteu with
theii ieseaich team that caiu membeis weie highly engageu in using social meuia to
infoim puichase uecisions, it inspiieu a paitneiship with Fouisquaie. This collaboiation
alloweu ANEX caiu membeis to ieueem offeis whenevei they "checkeu in" at paiticipating

The piogiam, which was met with wiuespieau piaise, was latei ieplicateu on seveial othei
social platfoims. Anu touay Leslie Beilanu is SvP of uigital paitneiships anu uevelopment,
uiiecting eight-figuie maiketing buugets.

If tomoiiow's PR piofessionals embiace the complexity, empathize with anu satisfy CC0s,
but also connect with anu inspiie CN0s, they will be in a position to have the same kinu of
clout that Leslie Beilanu uoes at ANEX.

Noie on this latei.

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The thiiu tienu that I want to covei this moining is a uiamatic shift that is taking place in
the maiketing seivices lanuscape. This is even moie piofounu than what's happening in the
meuia oi on the client siue. So I will spenu a bit of time heie in auuiessing these changes
anu then the oppoitunities it cieates foi youi stuuents.

Again, the oveiaiching theme: bluiieu lines.

Not long ago, in the "Nau Nen" eia, agency ioles weie veiy cleaily uefineu. Cieative
agencies, meuia buying fiims anu PR agencies all hau uistinct "swim lanes" that iaiely
oveilappeu. That's no longei the case.

Touay CN0s aie incieasingly telling us that gieat iueas can come fiom anywheie. They
uon't put theii agency paitneis in boxes any moie. This bluiiing of bounuaiies between
agencies is a tiemenuous oppoitunity to be piovocative.

So what then is the futuie of the PR agency. Theie aie seveial ways to look at this.

Fiist, let's examine it fiom a puie financial peispective.

Accoiuing to AuAge, the top 1u PR agencies last yeai amasseu $4.S billion in ievenues, oi
foui peicent of the maiketing seivices lanuscape. This is uwaifeu, howevei, by uigital
agencies ($1u.1 billion), meuia buying agencies ($9.2 billion) anu auveitising agencies
($1S.6 billion).

0f these foui categoiies only auveitising agencies aie seeing theii ievenues uecline. Why.

That leaus into my moie philosophical view of the maiketplace.

I am convinceu that this is because the eia of "maiketing communications" - wheie classic,
oichestiateu auveitising leaus - is now in wintei. It is giving way to an eia of
"communications maiketing" - wheie spontaneous stoiytelling at the speeu of now
(eveiything we aie coveiing this week) - is in full bloom.

Let's ueconstiuct this.

It all staits with a iealization that the tiauitional meaning of maiketing no longei woiks. In
19S9 Philip Kotlei uefineu maiketing as .

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Insteau, in this new constiuct, we see the woiu "communications" becoming moie
piominent. uuy Kawasaki, a best-selling authoi, co-Founuei of Alltop.com, foimei chief
evangelist at Apple, wisely uefineu communications as follows .

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The maiket is beginning to shaie oui view that "maiketing communications" is backwaius.
It stiesses auveitising, selling anu image. It iewaius cooiuinating anu pushing messages in
one uiiection anu, all too often, is only about the shoit-teim. That's a bioken mouel.

"Communications maiketing" vs "maiketing communications," as we see it, maiks a ietuin
to moie substantive stoiytelling. Anu it favois holistic thinkeis who have a PR minuset, an
appioach that's social by uesign anu an intense focus on measuiable business impact.

This appioach - "communications maiketing" - is moie than semantics. It stiesses ielevant,
substantive stoiytelling, stakeholuei engagement tiust anu, above all, shaieu value foi
customeis, oiganizations anu shaieholueis. It uoes not favoi classic auveitising oi meuia

Now, when you combine the quantitativefinancial view of the maiketplace anu my moie
qualitativephilosophical view, I hope you will see the huge oppoitunity foi PR agencies
like Euelman. By caiefully expanuing "into the subuibs," if you will, by picking oui spots,
we will not only expanu the iemit of PR but also cieate new caieei options foi youi

So what uoes "communications maiketing" look like in action. At it's coie it is about
becoming what we call a "Living Bianu." This iequiies that bianuscoipoiations be
puiposeful in how they act, be attuneu to multiple voices anu stakeholueis anu be
paiticipatoiy anu social by uesign iathei than as an afteithought.

A gieat example is Staibucks, oui client. They have a cleai bianu platfoimpuipose, a
continuous connection with key customeisstakeholueis, an emphasis on poweiful
stoiytelling at the coie anu a belief in peisonal, human, tiusteu communications that's
social by uesign. They neatly stitch all of these activities togethei anu think, act anu then
communicate accoiuingly.

The iecent move by Staibucks to subsiuize theii baiistas' college tuition costs is just the
latest example of this ethos at woik. It staits with the CE0 but is pulleu thiough the uomain
of the CN0 anu the CC0.

So, given this, what is the iole of the PR agency. In my minu, it's simple. We leau with
communications to evolve, piomote anu piotect both bianus anu ieputations. This is the
natuial evolution of the PR agency anu it's the fiamewoik foi eveiything we'ie uoing as a
company, anu aiguably, as an inuustiy touay.

Beie's what I mean by that:

Evolve: We help position anu tiansfoim companies like uE, Staibucks, eBay, Pepsi,
0nilevei anu theii bianus.
Piomote: We help launch piouucts foi Samsung, Kellogg's, SC }ohnson anu
Activision. We cieate uemanu, spaik conveisations, geneiate visibility, uiive ietail
tiaffic anu tiiggei puichase.
Piotect: Finally we engage in the intellectually challenging woik iequiieu to manage
ciises in ieal time as we uiu with Penn State anu moie iecently in Nalaysia with
NBS7u. We help to iepaii sentiment as we've uone foi PayPal anu BP, anu we help
clients navigate ieputational attacks like those facing Chevion anu Walmait.

To be suie, meuia ielations anu community engagement iemain coie capabilities oui
clients want. Bowevei, in this eia of bluiieu lines - between maiketing anu
communications, between CC0 anu CN0, between paiu anu eaineu - we aien't stanuing
still. We aie foluing it unuei a moie holistic view as we expanu into the 'buibs.

That's an upuate on "what's now" - themes that emeigeu since we last conveneu.

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Now let's tuin oui attention to moie of what's next. I piomiseu eailiei I woulu assign
homewoik. Beie we go.

As you listen anu paiticipate in the sessions heie at the Acauemic Summit, I'u like you to
begin thinking about thiee ways we can continue oui paitneiship as we evolve fiom
"maiketing communications" to "communications maiketing." We neeu you to:

1. Encouiage new kinus of talent to entei the PR piofession
2. Equip the next bieeu of PR pios to be at least conveisational, if not fluent in ielateu
S. Embiace new iueas, incluuing (anu peihaps especially) iueas that challenge
conventional wisuom

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In the last yeai, Euelman auueu ovei 17uu people woiluwiue. Nany of these ceitainly aie
classically tiaineu PR piofessionals who aie ueep expeits in inuustiy sectois, piactices anu
vaiious geogiaphic maikets.

Bowevei, we also auueu lots of people who have nevei woikeu in PR - some of whom you'll
meet this week.

They incluue people like Auam Biisch, who is an expeit in emeiging technology anu was
once the C00 of Nashable; oui new global heau of paiu meuia Chiis Paul, who joineu fiom
Publicis' vivaki; Tylei uiay who came fiom Fast Company to iun oui Cieative Newsioom in
New Yoik anu oui new heau of global stiategy, ulenn Englei, who was piesiuent at Bigitas,
the laigest global uigital agency.

Within Euelman, theie's now a giowing sense of uigency to onboaiu all kinus of specialists
who aie not fiom the classic PR molu. They come to us not veiseu in how to wiite a piess
ielease oi uevelop a meuia stiategy, but insteau in specializeu ciafts like inteiface uesign,
au-tech, analytics, Photoshop oi auuience planning.

We want people like uevelopeis, analysts, anu planneis who, when paiieu with those who
have jouinalistic skills anu cieativity, become a tiuly poweiful combination.

I encouiage you to iuentify iising stais in youi stuuent bouy who aie expeits in these anu
othei ielevant aieas. They most likely won't be majoiing in PR, maiketing oi jouinalism,
but they maybe minoiing in these subjects oi peihaps they have ciosseu youi iauai in
othei ways.

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Seconu, anu moie uiiectly within youi contiol, we neeu you to equip youi stuuents to be
highly fluent in ielateu uisciplines that aie inteisecting with PR. This is ciitical as the eia of
"maiketing communications" comes to a close in favoi of a new uay giounueu in
"communications maiketing."

We neeu PR giauuates to entei oui oiganization anu oui inuustiy with at least a base level
of fluency in SE0, social meuia community management, uigital auveitising, content
stiategy, photogiaphyviueogiaphy, uesign anu analytics.

Anu we neeu them to join us with a iesults oiientation. They neeu to be able to connect
tiauitional maiketing anu engagement metiics like the numbei of tweets to its impact on
business metiics like puichase intent, leau geneiation anu sales.

This may sounu like a tall oiuei. Anu it is. But we uon't neeu them to uemonstiate ueep
expeitise in these aieas. We just neeu them to be cuiious about anu conveisant in these
topics so that they can biiuge theii emeiging expeitise in PR to the othei kinus of
capabilities anu expeitise we'ie ueveloping.

PR geneialists will continue to be in uemanu, but they'll neeu to quickly become skilleu in
paitneiing with a uiffeient bieeu of specialist.

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Lastly, I'u encouiage you to be iegulaily open to new iueas anu peispectives thioughout
the yeai, not just this week. Be especially on the look out foi people anu iueas that
challenge conventional wisuom.

Encouiage youi stuuents to test iueas anu piototype effoits to tiy them out. Fail, fall uown
anu get back up. Expeiiment. Look at things in a uiffeient way - anu get othei kinus of
people with uiffeient backgiounus (like engineeis) to kick the tiies on theii iueas.

This is the ethos that allows companies like ouis to uige clients like Walmait to offei
affoiuable fiuit anu vegetables in lowei-income neighboihoous to combat obesity oi uE to
employ Afghanistan anu Iiaq wai veteians in highei skilleu jobs.

We iecognize that acauemia uoesn't necessaiily move at the same pace as the coipoiate
woilu. But big iueas cannot wait - anu the CN0s say they can come fiom anywheie. Bo
what you can to acceleiate new iueas, anu cieate an enviionment in which big, bolu iueas
can flouiish.

With this in minu, I want to close this moining with a quote fiom my fathei, Ban Euelman, a
PR inuustiy pioneei who as many of you know, passeu away in }anuaiy 2u1S at age 92. We
also last yeai lost my mom, Ruth Euelman, anothei foice in oui company, who passeu away
in 0ctobei 2u1S at age 84.

"It is gieat to be the biggest fiim. We must always stiive to be the best fiim."

Thank you again foi joining us. We gieatly value oui fiienuship with the 8u univeisities
iepiesenteu heie this week anu we look foiwaiu to paitneiing with you to equip anu
empowei the next geneiation of gieat communicatois.

In the time I have iemaining I will now take some of youi questions.

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