Profiles are as varied as their subjects and the publications they run in, and thus, have no silver bullet formula. Essential strategies and tactics, though, are prerequisites to secure the stories that define a market by the company's vision, grab prospective customers' attention and bolster company and customer morale.

Do Your Research

Choose the publication that has the deepest penetration to the decision-makers you want to reach. Ideally, this will be an outlet that knows the company or one of its executives. Rarely will a magazine or newspaper profile a company on the first introduction, barring a truly exceptional story. If you want to be featured by a publication where the company has no previous recognition, such as a high-level business newspaper, build a rapport based on breaking news and industry trends before seeking a full-blown profile.

Finding the right editor or reporter can be the most challenging background work, and there are few set guidelines. The right contact could be based on vertical market, geography, current events or editorial hierarchy. Some pitches should go to the beat reporters on today's relevant news, and others should target the editorial director or editor-in-chief. Monitoring coverage over a period of weeks or months - often easily done with online archives - is the best bet to gauge who is closest to your company and market.

Get Your Ducks in a Row

Editors and reporters require a handful of must-haves to pass their sniff test for all profiles: a unique, forward-thinking market perspective, access to customers and executives, and financial performance information, even for privately held companies.

A company must demonstrate not only leadership for today, but how it's setting the industry standard for the market's future. Use third-party industry data to lay out "the state of the state" and the market's direction; top sources include analyst reports and executive surveys. Lining up a leading analyst who will be an advocate for the company makes an even stronger story. Identify growing trouble spots in the industry and their business impacts, and show how your company is already solving customers' problems.

User testimonials are often the most compelling aspects of any profile. The more they're willing to share credit about how you're helping drive their business strategy and profits, the more compelling their endorsement.

Company executives must be willing to address the organization's vision and history, types of customers - specific names are best, when possible - and general performance information. Hard financial data is not necessarily required, but some insight into the company's funding, profitability and projections needs to be disclosed.

Profiles usually take weeks or longer to come together. Multiple interviews, on-site visits, customer and third-party interviews, industry research and photos are all part of the process. Reporters will require a wide range of information for ongoing deadlines. Maintaining frequent contact, an accommodating schedule and a healthy amount of patience will ensure that company messages and successes reach the target audience with maximum impact.

Modest fixed programs can be very effective for young companies, which need the predictability of fixed costs, especially because the volume of work might ebb and flow. In theory, it lets the agency ramp up or scale back, as needed. This can work well for companies, as long as someone is closely watching to make sure that even in slow months, the fees are supported by a consistent set of results.

A single flat hourly rate is attractive because senior talent becomes available for a lower-than-market price. It took hold in 2003, as agencies were fiercely competing for business. One drawback, however, is that companies may pay a higher effective rate for junior team members than they otherwise would. If the fixed rate isn't fundamentally profitable for the agency, the firm will have incentive to staff the account with less-experienced team members. Make sure you're getting adequate time and attention from the senior team members who signed up to manage and direct your account.

Performance-based placement fees can include pay-for-placement and higher-value bonus 'kickers.' A few firms work exclusively on a performance-based fee, which in theory shields companies from paying for an ineffective program. This structure, however, inevitably emphasizes the transaction of just 'getting ink,' rather than the underlying relationship, which can short-change companies in the end. Fees vary from a few hundred dollars for coverage, to several thousands of dollars. The PR firm wins handily if a placement takes only a few hours to deliver; it's very important to define which publications, and what quality of coverage, meets the grade.

Bonus incentives are a great way to drive specific, extremely high-value placements that truly move the market and change audience perception. While the core PR program covers the cost of time and resources, plus a modest profit, the true upside results from substantial success. The foundation of this kind of agreement is driven by handshake, as well as a contract. It's wise to note the target media, but in truth, both sides should know the kind of coverage that's expected. For firms that share these bonuses across the team, this structure can be particularly exciting for team members, who are even more motivated to contribute to a client's success.