How to stay relevant in the media after peak quantum

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Gartner’s Hype Cycle of Emerging Technologies is not only a useful indicator for investors and potential users of innovation, it can also be a strategic tool for communication teams. Quantum companies especially should pay attention to the famous cycle now more than ever, as it seems that we have reached peak media interest…

Gartner ranks technology trends along a horizontal axis called « expectations » and a vertical “time” axis. The characteristic vertical shape of the hype cycle curve shows how expectations for a technology rise and fall over time as an innovation advances. Until 2009, Gartner still used « visibility » as a dimension for the Y-axis, i.e., the sheer amount of attention given to a technology. With the change to « expectations, » the analysts wanted to achieve a more accurate analysis of hype, one that also included the hopes that markets projected for a new technology (see Gartner website).

While quantum computing is still too far away from achieving practical use in the eyes of the analysts to track it on the annual hype cycle (yet they do counsel to explore it), we have still seen quite a hype around quantum in media for a couple of years now. The development of Shor’s algorithm in 1994 contributed to this (putting RSA encryption at risk), and most definitely the Google Sycamore team announcing “quantum supremacy” in 2019 (53 qubits were able to perform an operation in 200 seconds that would have taken a classic supercomputer 10,000 years), sparked high hopes (although IBM disputed parts of the claim).

IBM, IonQ, D-Wave, Quantinuum (Honeywell and Cambridge Quantum), Rigetti, Xanadu, Tyto client QuEra (MIT & Harvard background), and also Amazon and Microsoft are some of the big players in the quantum race. Europe has been doing quite well, too, and put its own quantum champions forward. IQM from Finland (with a German subsidiary); Munich-based Planqc (a Max Planck Institute of Quantum Optics spin-off sponsored, among other investors, by the ARM founder Hermann Hauser); Universal Quantum in the UK; PASQAL or Alice & Bob in France; Terra Quantum from Switzerland with a QaaS-offering (and many others, see this Sifted article); are among the key innovators in the space, and are being supported by tech powerhouses such as T-Systems (it will soon offer cloud access to IQM systems) or Atos in France. Quantum software specialists like Classiq (also a Tyto client) are already quite successful with their solutions, too.

Getting media coverage was relatively straightforward for these companies in recent years. Quantum was new and shiny, mysterious, and highly promising. It climbed its way up the media hype cycle, all the way to the top. Unsolved issues like which architecture will reign as the most promising one are tough nuts to crack for quantum computing professionals, and a productive quantum machine is still some time away. Yes, there are simulators and training systems, so everyone can start building their skills and look for first projects, but it will still take a while until quantum computers solve humanity’s hardest puzzles.

The thing is, editors noticed. They have reported about the topic for what can be considered an age in media cycle years, and have grown tired of having to explain superposition, Schrödinger’s Cat and other analogies that do not help readers one bit to understand the technology. By the way, the challenge to explain superposition, observation and entanglement in analogies that everyone will understand, is still on. Ignore the deadline, media professionals. There is a deadline and at the same time no deadline at all. Without corporate users, use cases, successful projects to report about, the topic might be dead in the water very soon.

On January 10, 2023, the Financial Times published an article titled: « Hype around quantum computing recedes over lack of practical uses », and the Süddeutsche Zeitung followed suit on February 23, 2023, with the title « Quantum computers: is everything just hype? ». Headlines like these indicate tougher times ahead for communication professionals in an innovation sector. Even the tech-guys see the problem: “Quantum computing has a hype problem” states the MIT Technology Review. When interest fades, the risk increases that investors and potential customers will also put the brakes on potential projects.

Luckily, there are strategies to maintain relevancy in the eyes of journalists when the environment gets tougher:

  1. Why now: Companies need to be able to explain what aspects of quantum are highly relevant to any company today. While quantum computers are not solving any issues corporations are having today, it is high time to get ready for when they can. Forming a quantum lab or innovation team should be a high priority task now, just as upskilling individuals (our customer Classiq for example is teaching professionals how to develop algorithms for quantum computers) and identifying projects.
  2. Big picture: Quantum computers will be powerful devices when they arrive – possibly even more game-changing than the new wave of AI tools. Programmes like ChatGPT are not only changing the way we operate, they have also taught us a valuable lesson: Let’s think about the risks of a technology and potential regulation before the tech is being pushed into the market. AI leaders feel inclined to call for a development pause while the world is already hooked on ChatGPT and Bard, which is not ideal at all. Quantum computing companies should be communicating the big picture, including risk and regulation today.
  3. Availability bias: Undoubtedly, it will be a much tougher market environment for Quantum. Investments might be cut, but stopping to invest in visibility could be a fatal mistake for any Quantum player. Humans tend to build trust towards brands they are exposed to frequently, that continue sharing insights and information. Quantum computing players can use this availability bias to build these key connections while others are not. Once products become available (or compute time via cloud access), companies will buy from the perceived leader. Continuous visibility can help achieve that perceived leadership position.

We recently launched our “Pathfinder” services for any company that is currently revisiting its communication strategy. We are holding free consultancy sessions that you can sign up for on our website. As the media hype seems to be passing, this might be exactly the right time for quantum computing companies to take us up on this offer.

5 tips to turn industry events into a PR success

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As 2023 comes to an end and with 2024 already on the horizon, many organisations are already well underway with event plans for the coming twelve months. From OMR in Germany, to VivaTech in Paris or Slush in Helsinki, industry events provide companies of all sizes the opportunity to get noticed. However, driving ROI from events is getting harder and harder. How can you ensure they are a success for not only your marketing team, but your PR team too?

Here a few tips from our team!

Involve your PR team from the beginning

“Clients should involve their PR team as early as possible in the process, to help shape the topics and themes they’ll discuss. This needs to be done with broader consideration given to what topics are currently of most interest and value to journalists, so that client messaging can be tied in with stories that impact the wider industry (rather than being too insular, self-serving or corporate). Making yourself relevant is key.” Zoë Clark, Senior Partner and Head of Media and Influence.

Be ready at short notice

“Tying an important and relevant news announcement with event participation is of course a helpful way of encouraging journalists to notice you. However, at a time when most interviews take place virtually and tend to be scheduled in advance, the spokespeople need to be prepped and ready to act on the spot and deliver a great interview at a moment’s notice. Having PR representation on the ground can help – not only in with face-to-face interview preparation, but also for unforeseen moments, such as a journalist turning up unplanned at your stand. With most interviews now being over Zoom / pre-planned, getting ready and prepared for event interviews is more important than ever. Reviewing potential talking points, being clear on key messages and on what can and can’t be discussed with media are some of the ways to ensure stress-free interviews.” Pauline Delorme, Associate Director.

A chance to brainstorm new ideas and network!

“Attending events can seem daunting on the surface but once you’re on the ground the atmosphere is undeniably contagious. The excitement largely comes from not knowing who you might meet. In fact, if you’re ever wondering what the chances are of being in a room with world renowned CEOs, government officials and literal royalty, they’re surprisingly high. Events are the perfect opportunity to network. Not only do you get to put names to faces but you get to connect with people you may not otherwise come across. For this reason, it’s very important, particularly at smaller events, to make conversation with anyone you find yourself sat next to or waiting in line with. Even if they aren’t a key journalist or a representative of a potential new client, this is a great way to learn about new organisations or projects that may offer insight into the topic of the event. At an event we attended recently we struck up a conversation with one of our clients and a researcher from BT and ended up brainstorming ideas together just because they were having lunch at the same table as us. They contributed a great deal from their own expertise and perspective!” Oscar Osborne and Marwa Houadef, Consultants.

Be creative and think beyond the event

“Being creative and finding ways to create engagement at your booth is a great way to catch people’s attention and start conversations. One of our clients had a fun fair claw machine at one of their booths recently, which was a total hit! Most importantly though, brands should consider how they can maximise their investment and reap the rewards after an event. Being on-site provides many opportunities to create content that can have a much longer life for marketing. For instance, organising quick-fire interviews with other key spokespeople or prospects visiting your booth that can be recorded and published as videos or shared as case studies, driving marketing and sales efforts.” Lucy Horsman, Associate Director.

And when it comes to companies’ own events…

“Trade journalists have a lot of pressure to consistently publish articles and keep up with the news stream. If they consider visiting an event organised by a client, they must ensure to get some great content or insights out of it, especially if this involves travelling. When we invite journalists to a client’s own event, we try to give them not just access to company spokespeople but also to customers. We aim to get creative: are there any exciting external keynote speakers or major partners at the event that we could connect them with? Since journalists have a busy schedule, it’s important to invite them at least a month before the event date. The same goes for industry events where we want to organise on-site interviews with our clients. Timing is key and for a chance of success; it is crucial to approach them weeks (maybe even months) in advance.” Bastian Meger, Associate Director.

Beyond AI: The key topics captivating Europe’s most influential tech community

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It’s been a year since we launched the Tyto Relevance Index™ – a proprietary data-driven insights service that helps us identify the most important issues and themes being discussed among Europe’s most influential tech experts. We’ve shared these findings monthly and summarised insights every quarter on this blog and in our LinkedIn newsletter. And now 12 months on we wanted to share how the Index is a valuable tool for identifying technology and socio-economic trends across Europe.

With a year’s worth of data under our belts from France, Germany, and the UK, this is the first time we’ve really been able to take a longer-term view to identify any patterns that may be emerging. Let’s take a look at what the Index reveals from the past year.

AI has taken over the world of tech

AI & machine learning was the Index’s top tech topic even before the explosive arrival of Large Language Models into the public consciousness in November last year, claiming 24.56% of the online conversation in September 2022. At that time, it was only 8.95 percentage points (pp) ahead of Data economy in second place. However, from November, its share shot up each month to a peak of 40.58% in May of this year, an unprecedented 27.08 pp ahead of second place.

It’s a little too soon to tell where and when this topic will find its new baseline, but it has seemingly started to stabilise at around the 35% mark and approximately 20 – 21 pp ahead of the second placed topic. Time will tell if this holds for the long term but even so, it’s without doubt the most relevant topic among Europe’s most influential tech experts, and we can expect this to continue for quite some time.

We’ve been seeing competition in this area heat up in the market over the last year too, as established businesses and start-ups alike made a priority of convincing people of the effectiveness of their approaches, technologies, and business models. With the competition so fierce, many have found that the biggest opportunity technology has presented to businesses in decades is simultaneously one of its biggest challenges.

How do you possibly cut through all that noise? How do you stay relevant in such a rapidly changing landscape? And how do you convince people on the potential of the technology for your business while managing stakeholder expectations? These are the questions businesses and comms professionals will need to get right with AI set to continue to claim so much of the conversation.

Share of social posts in the pan-European region in the past twelve months 

Climate change keeps ‘peaking’ interest

Whereas tech conversations were dominated by a single topic, it was much more of a two-horse race when it comes to socio-economic issues. Climate change and Geopolitical conflict & instability started in the top positions and traded places several times over the course of the year. They accounted for 19% (Climate change) and 16% (Geopolitical conflict & instability) of all social posts in this category in the past twelve months.

Interestingly though, the conversation around climate change saw two large peaks in the year. The first and largest of these was in November 2022 when COP27 was in full flow for most of the month, seeing the topic claim 22.22% of the conversation across all socio-economic issues we track. The topic settled down to more normal levels of 15-18% following this but peaked again with a 21.54% share in July 2023, as news broke that it was the world’s hottest month on record and scientists agreeing that the extra heat was mainly linked to use of fossil fuels.

As organisations look to persuade people on how to tackle climate change, and to promote their initiatives and technologies effectively, there are clear (and perhaps obvious) moments in time that capture people and the media’s interest. With the right planning, these moments can be targeted – and even created – to maximise the impact of their comms and marketing.

Share of social posts in the pan-European region in the past twelve months 

The fastest rising topics – when will GreenTech’s bubble burst?

For the first time, our data enable us to look at year-on-year (YoY) trends, revealing how the landscape may be changing and which issues are becoming more, or less, relevant across the three markets analysed. The fastest growing tech topic will be no surprise given how we’ve already discussed how AI came to dominate tech conversations online. It grew its share by 12.05 pp YoY – by far and away the fastest rising topic of the last 12 months across technology and socioeconomic issues.

GreenTech was the second fastest growing tech topic, rising 2.76 pp YoY. Unlike its related socioeconomic issue, Climate Change, the last 12 months were not characterised by large peaks. Instead, it saw a steady if slightly bumpy rise from a 6.65% share in September 2022 to 9.41% in September 2023. Last month was the biggest share of conversation that Greentech has seen so far, and we’ll be monitoring whether this marks a peak or continues to rise over the coming months. It’s definitely one to watch.

Privacy & data governance completes the top three rising topics, having grown its share of conversation by 2.05 pp YoY. It followed a similar trajectory to Greentech, starting off its climb from a 4.99% share and steadily growing to 7.04%. However, unlike GreenTech which looks like it could rise further still, Privacy & data governance has dropped slightly from a high of 7.48% in July.

However, with much of the conversation coinciding with major EU legislation agreements – notably with the US on a data privacy framework, and on how industrial data is shared, stored and processed – there is a lot of scope for scrutiny as businesses and privacy groups pore over the details, and get a stronger sense of what this will mean in practice.

In the socioeconomic space, Climate change was the fastest growing topic at 5.7 pp YoY, followed by Transportation at 2.85 pp YoY and Trust at 2.17 pp YoY. Transportation was the fifth most talked about topic when our Index launched last September, but ended this September in third, a position it has held consistently for the last 6 months. Trust had a far more steady track record, typically moving between the tenth and eleventh spots… until last month where it shot up to seventh. We’ll keep an eye on whether this was a one-off or the start of something bigger.  

The fastest falling topics – are we getting over the recession?

Virtualisation fell in relevancy quite significantly over the last year – down 6.81 pp from its relatively high starting position of 10.82% in September 2022. It fell sharply from being the fourth most talked about tech topic in September 2022 to the seventh, as of last month.

DLT & Blockchain was the second biggest faller in the tech space, losing 3.58 pp of its share of conversation YoY. This is interesting by itself but the fact that Crypto was the top falling topic in the socioeconomic space, losing 5.96 pp of its share of the conversation, suggests a bigger trend. Crypto and blockchain are no strangers to waning public interest, but the data suggests we are most certainly in a trough… for now at least.

Another noteworthy fall from relevancy in the socioeconomic category is Recession. The looming threat of which – and technicalities over whether we are experiencing one or not – seems to have dominated our lives and media coverage for what seems like an eternity. Nobody will be sad to see the topic losing relevancy, as it has done from a 7.44% share of conversation in September 2022 to 4.33% in September 2023 (-3.11 pp). We may be done with talk of a recession, but is the recession done with us?

As ever, if you would like to dig into the data yourself, you can access the Tyto Relevance Index™ here. By subscribing, you will be able to view the data and receive our monthly newsletter with the previous month’s highlights in your inbox. We believe that data is an important tool to inform communications campaigns, and the Tyto Relevance Index™ is an excellent way to find out what topics are dominating the social media conversation of hundreds of highly influential tech personalities in Europe.

Why executive profiling could be your secret weapon for growth

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In the fiercely competitive tech arena, businesses are constantly looking to differentiate – especially those chasing high-growth. While traditional strategies focus on advancing products and services, an often overlooked yet powerful tool lies in the hands of CEOs and executive leaders: executive profiling and personal branding.   

A unique voice, a focus beyond products, and a strategic investment in personal branding can have a transformative effect on business growth and help set forward-thinking companies apart. 

From business leader to public figure – authenticity is key  

In the age of hyper-connectivity and social media, CEOs and executive leaders must embrace the idea that they are no longer just the leaders of their respective companies but also influential public figures. By stepping into the limelight with a strong, distinct angle, they have the power to humanise their brand, build credibility and forge stronger connections with customers, stakeholders, and employees alike.  

To capture attention, the key lies in cultivating a distinctive voice but also one that resonates with audiences and sounds authentic. The CEOs and executives who express their thoughts and visions with sincerity and transparency are also those who build the trust and respect of their workforce, investors, and clients. Which, in turn, becomes the cornerstone of loyalty.  

The leaders who dare to humanise their brand stand out like guiding beacons in whatever industry they’re in. By crafting a powerful narrative that intertwines their personal journey with the company’s mission, CEOs and executives can build a bridge of genuine connection to their audience. They become not just business figureheads but relatable mentors sharing their journey of success with others. 

In the pursuit of authenticity and credibility, vulnerability becomes a strength. By sharing both triumphs and challenges, leaders demonstrate that they are not infallible titans but compassionate individuals committed to growth and self-improvement. Vulnerable leaders take their team along for the journey and raise everyone at once.  

Creating corporate purpose 

Visionary CEOs also understand that being successful in the modern business landscape should extend beyond financial gains. While profitability and growth remain essential, more far-sighted leaders use their power to influence and impact society at large in a positive way. A study by the Institute for the Study of Business in Global Society shows that more than 70% want CEOs to contribute to debates and policy discussions about climate change, wage inequality, and how automation affects jobs. More than half say that CEO participation should be mandatory.  

By strategically aligning companies with broader societal issues and contributing to these causes in a meaningful way (simply purpose-washing can often backfire!) visionary CEOs can make a big difference in the world while also strengthening their businesses. They attract more driven, passionate talent who are, in turn, more motivated to work for organizations that prioritize positive impact.  

Gen Z and millennials prioritize working for purpose-driven companies, with many rejecting roles or employers misaligned with their values. Such a workforce fuels innovation, creativity, and productivity. A recent study shows nearly four in 10 (44% of Gen Zs and 37% of millennials) have rejected assignments due to ethical concerns, while 39% and 34%, respectively, have turned down employers that do not align with their values.  

Customers are also increasingly looking for brands that embody a sense of purpose and social responsibility. Consumers trust businesses more than governments and expect CEOs to drive social change. By championing important causes, companies can establish deeper connections with their consumer base, resulting in heightened brand loyalty and advocacy. 

Executive profiling is an often-overlooked tool in the business growth box, but it holds transformative power for brands to differentiate and compete on more than just technology and corporate messaging.  

When done well, its impact resonates far beyond the boardroom and the bottom line. CEOs and executives today can and should be more than just corporate figures; they can become architects of a brighter future and champions of their industry.  

Featured photo by George Milton.

Data to help you improve media relations: Cision’s State of Media

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As PR professionals, we deeply care about our relationships with the media and journalists. One of the ways we keep up with developments is through research pieces like the Cision State of Media report. So here are our top picks and a few thoughts on how they can be used to become a key contact for journalists and not the spam that overflows their inbox!  

Creating credibility – journalists feel the pressure to build trust 

The findings reiterate and confirm issues most media relations experts will be aware of. The industry continues to struggle with declining ad revenue and a fast-paced world dominated by social media. On the individual level, journalists are feeling this trend in smaller teams that must keep up the previous story output. Here comes a finding that is a little surprising: journalists are not only mandated to write compelling stories that get clicks, they also need to further the brand image of their media company and they need to maintain and expand trust as a credible news source. Many cited maintaining credibility as the biggest challenge. 

In an effort to remain a trusted news source and journalist, 58 percent cited accuracy across their reporting as one of their top priorities. Their biggest personal challenge is ‘keeping up’ with smaller teams. This trend is a natural consequence, seeing as data and fact-checking for accuracy is detailed work that requires a slowdown, while at the same time the pace of the information and media cycle has become more fast-pace. The good news is that PR professionals can provide valuable support to journalists in this position.  

The power of data and third-party validation 

In the quest for accuracy, data is a tried-and-true method for fact-based stories.  Still, the uptake is staggering: compared to last year alone, 40 percent of journalists reported they are using data more often. Despite being savvy processors of information, most journalists have no access to statistical research. It naturally follows that 68 percent of journalists said they would gladly receive data in the form of original research, such as trends and market data from PR professionals.  

Beyond data, journalists cited Newswires (AP, Bloomberg, PR Newswire, etc.), industry experts, press releases and internal spokespeople as their trusted sources. Contrastively, email pitches and company blogs were lowest on the list. So, while a trusted expert is a valuable source, pitches are still seen as too promotional. A way to make a pitch more credible and take it from a perceived intent to ‘sell’ to ‘inform’ is context and validation through third parties. 

Though the report does not relay exactly what this looks like, we could imagine three exemplary scenarios:  

  • Looking to make a journalist aware of a trend and connect them with an expert? Prove the trend is there with third-party data AND spell out what makes your spokesperson an expert 
  • Advocating for a social issue? Share at least a few helpful original data points or unique voices and proof that the person or brand are invested in the case: show their advocacy outside of Pride Month and their support for professional development for minorities in their company or industry, for example 
  • Want a journalist to cover a product? Add reliable data that shows this product solves a relevant problem for their audience and the size of the problem    

Thinking with a journalist: How to be a good contact 

So, what do journalists want from media relations professionals? Simple: provide data and expert sources, say 66 percent – nearly two-thirds of journalists. Data is a little vague here, so understanding how exactly your key contacts are using data in their work is key. Do they need proof points to illustrate industry trends or are they using surveys as a core element to highlight issues or are they just looking to be specific? The more PR professionals are there providing the right information to key questions, the more they will be able to position themselves as indispensable and in-demand partners.  

Figure 1: Question: What do you consider the most trustworthy for gathering/validating information? 

Beyond delivering the right materials for journalists to work with, creating a good bond with journalists can mean supporting their work. Overall, journalists have a heavier reliance on social media primarily to promote their work and engage with their audiences. Unsurprisingly, with the Twitter (now X) turmoil. In fact, X is the platform journalists plan to decrease their usage the most (-20%), followed closely by Facebook (-18%). Instead, LinkedIn (+20%) is now the chosen platform journalists reported they plan to use more frequently.  

This information should be taken with caution. Avoid pitching journalists on social media unless you know them personally and they have expressed a favourable view on this. In the grand scheme, only 4 percent of all journalists want to receive pitches via social media. The consequences for getting it wrong are more intense than a mismatched email pitch as 19 percent will actually block a comms professional for reaching out on social media unsolicited. Social media can be a powerful tool for connecting with journalists, particularly if you understand why they’re on there, what they post about, and amplify their work. 

As communications professionals the nature of our relationship with media directly impacts our performance. At a time when the competition for attention is high, establishing a longstanding relationship is your best bet to thrive. The mantra put forth by Cision captures this perfectly: Moving from “thinking like a journalist” to “thinking with a journalist” is the new gold standard.  

AI dominates online European tech influencer conversations – but have we passed the peak?

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The debate and hype around Generative AI and Large Language Models has dominated the Tyto Relevance Index™ since ChatGPT launched in late November 2022. The Index analyses public social media posts of our Tyto Tech 500 power list of influencers – consisting of almost two thousand individuals objectively ranked as the most influential people working in technology across the UK, France and Germany – and our latest dataset for Q2 2023 hints at what may be the first signs it has reached its peak. 

As the world has grappled with the potential applications, misuse, and regulatory requirements of this technology, it has understandably been front of mind among our cohort of tech influencers. For example, the Index shows that the share of conversation on this topic has risen for each of the last seven months across Europe, coinciding with the launch of ChatGPT. 

However, this trend came to end in June, with its share down 2.8 percentage points from the previous month. It is also the lowest number of posts on the topic since August 2022.  

Despite this, it is still the dominant technology topic of the last quarter by some margin, taking a 39% share of all social posts, with Data economy (13%) and Cybersecurity (9%) the second and third most relevant topics. It even grew by 5.1 percentage points on average compared to the previous quarter. But this will be well worth watching over the next few months – especially in Germany and the UK where posts on the topic dropped by 8.3 pp and 3.5 pp in June, respectively – to see if it was a blip or an indication that the hype is starting to normalise. 

DLT & Blockchain sees huge momentum in Germany 

Distributed Ledger Technology & Blockchain is another topic to monitor closely as it gained significance in June across Europe compared to May, rising from ninth to fourth position in the ranking (+4.4 pp). Interestingly, its rise was driven entirely by the level of conversation in Germany, where it grew by a massive 22.6 percentage points compared to the previous month. In May it was the fourth most popular technology topic in Germany, accounting for 10% of all social posts, but shot up in June to be the second most relevant topic with a 33% share of posts by the European tech influencer community in the country.  

The UK was the only market to see a technology topic increase its relevance every month in the last quarter, with Privacy & data governance growing by 0.6 percentage points on average when compared to the previous quarter. In Germany we of course saw a large rise in DLT & Blockchain in Q2 (+10.5 pp), but we also saw a significant increase in relevancy for GreenTech, which grew by 2.7 pp over the quarter. In France, we saw a notable increase in relevancy for Cloud technology, which grew by 1.3 pp over the quarter.  

Climate change retains socio-economic dominance  

In terms of socio-economic topics, Climate change (18%), Geopolitical conflict & instability (17%) and Transportation (10%) were the three most relevant issues among the European tech influencer community.  

In the UK and Germany, Climate change was the top socio-economic topic for the fourth month in a row and has increased its presence in the online conversation compared to the previous month (+2 pp in the UK and +1.1 pp in Germany). In France, Geopolitical conflict and instability remains by far the most prominent topic with 34% of all social posts. It is also the only country where the top 3 does not coincide with the top 3 at the European level. In France, after Geopolitical conflict and instability and Climate change, the third most relevant topic is Social inequality (9% of social posts). 

While no topics grew in relevance every month over the last quarter, the fastest growing socio-economic topics in the UK were Crypto (+2.1 pp) and Transportation (+1.3 pp). In Germany, Climate change was not only the biggest overall but also the fastest growing topic, rising by 5.5 pp, while in France the fastest growing topic was Geopolitical conflict and instability (+6.3 pp). The second fastest growing topic in both countries was Supply chain, which grew by 0.9 pp in Germany and 0.8 pp in France. Interestingly, supply chain grew by a similar margin in the UK (0.8 pp), suggesting all countries are being affected by the same issues and challenges. On a pan-European level, the online conversation about Supply chain has increased by 0.8 percentage points, rising from tenth to seventh place in the list of socio-economic issues. 

To view the data for yourself, you can access the Tyto Relevance Index™ here – it’s free to subscribe and you will also receive our monthly newsletter. The Tyto Relevance Index™ has been running for 9 months now and is proving to be a great tool to take the pulse of the issues and topics that the most influential tech personalities in Europe are talking about. 

Featured photo by Milad.

Forging a new path in Europe

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The many nuances and intricacies of each country in Europe has meant that tailoring your approach to communications and individual campaigns has always been important – but this is especially true during times of rapid change and market turbulence. As an international communications agency we see first-hand how macroeconomic and societal trends affect different regions of the world, and a huge part of what we do is helping businesses adapt. 

Senior leaders entering Europe for the first time – or at least putting a big marketing and comms focus on the region for the first time – often tell us that our conversations around how to make a big impact country to country, how the media landscape differs, and the varied topics and trends driving debate, can be some of the most interesting and valuable insights they receive. Having these conversations early, with experts on-the-ground, means more effective planning from the outset and avoids having to drastically change approach with plans drawn up centrally with no local input. 

We are also increasingly having these conversations with businesses that already have established marketing and comms functions in Europe. There is a growing sense that what worked a year or two ago no longer does, and the markets they need to target from a business perspective are also changing.  

To better help advise these businesses Tyto is today launching its Pathfinder consultancy service. This new strategic advisory service combines data and expert insights to help businesses plan or reassess the best route forward for them in Europe. You can book a free consultation with our team of experts here. 

UK benefits from inflated marketing and comms spend while Germany dominates sales and expected growth in H2 2023 

We are also launching the results of our first, annual, Pathfinder Barometer to get an extra level of insight into the changing European landscape and the challenges that marketing and comms professionals are feeling the most. Perhaps the most eye-catching finding, from our study of over 350 senior marketing and communications leaders responsible for multiple European markets, was how the centre of gravity in Europe is shifting toward Germany.  

 It’s not only where senior marketing and communications leaders see the greatest opportunity for European sales, ranking first for overall volume of expected sales in H2 among 26% of respondents (ahead of the UK and France with 18% each), but also for growth. Here, 26% of respondents ranked Germany as the top market for expected year-on-year growth compared to H2 2022, with the UK (16%) and France (15%) trailing behind.  

It also highlighted a potential opportunity to steal a march over rivals in smaller European countries. While budget allocation in Germany is consistent, with 26% again ranking it the top country for European marketing and comms spend, a combined 35% of respondents ranked either Belgium, Denmark, Italy, Netherlands, Norway, Spain or Sweden, as their number one market for overall H2 sales, and 39% chose one of these countries as their top market for expected year-on-year growth in H2. Yet only 27% of respondents ranked one of these seven countries top for marketing and comms spend in the second half of the year.  

Why the discrepancy? Because the UK is receiving outsized budgets when compared to its expected overall sales and for growth potential. As mentioned above, 18% and 16% of respondents ranked the UK number one in terms of overall H2 sales and growth, respectively. Yet when it comes to budgets, the UK overperforms significantly as the top market for 25% of respondents.  

On the surface, this represents a major opportunity to target ‘longtail’ European markets, which would require a reallocation of budgets and focus to effectively reach people in those countries, and then reap the rewards. However, things are never so simple, and it could represent the fact that the UK is a highly competitive market, and therefore additional budget is required to maintain a certain level of visibility and to ensure products, services and messages can cut through the noise.  

A possible explanation for this disparity is that marketing and communications professionals are struggling with planning and executing campaigns across multiple countries, which was cited as the top concern by 17% of those in the study. Multi-market campaigns can certainly be more complicated and more expensive to run than traditional campaigns. But this needn’t be the case and is precisely why Tyto developed its PRWithoutBorders™ model.  

By getting rid of the traditional European agency set-up, where the agency’s German business competes for budget allocation with the UK and French businesses, for example, you can have the expertise and specialisms for all your markets working together as one team. This approach is more efficient in terms of working process and overall budgets, while markets can be dialled up or down as needed to support local market opportunities and priorities at a moment’s notice, too. 

This highly flexible and strategic approach is something we really believe in and is something our clients get a lot of value from. Our new Pathfinder consultancy service and annual Barometer are extensions of this approach, adding an extra layer of insight and support for businesses looking to tackle the challenges, and take advantage of the opportunities, waiting for them in Europe. 

You can download the infographic with the main findings of the Tyto Pathfinder Barometer here. 

 

Pitch perfect: Successful story placement in 2023

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Are you looking to pitch a story to a journalist or a news outlet? Knowing the challenges, habits and preferences of journalists can help increase the chances of your pitch being successful. In this blog post, we will shed light on some interesting insights on the state of journalism in 2023 based on a recent survey of over 2,000 journalists.  

The world of journalism is constantly evolving, and 2023 is set to bring new trends, challenges, and events to the forefront. In a recent survey conducted by Muck Rack, more than 2,000 journalists were asked about the current state of journalism and the outlook of the industry. The results are not only interesting but also very helpful to understand their everyday challenges and preferences – especially when it comes to pitching. 

Journalism in flux: Challenges and trends 

Despite the above-mentioned challenges, over half of journalists remain optimistic about their profession. However, the issue of trust in journalism remains a concern, with nearly a third of journalists citing it as a top priority. While most respondents primarily report online, just under half also work in print. This is reflective of the changing media landscape and the need for journalists to be versatile and adaptable.  

When it comes to target audiences, millennials and Gen X are the most commonly reported groups that journalists are writing for. These generations are the most active on social media and are more likely to consume news online. This aligns with the fact that social media continues to play a crucial role in journalism: Twitter remains the most valued platform, followed by Facebook and LinkedIn.   

When it comes to credible sources, academic experts are the most trusted, which comes as no surprise as we have highlighted the rise of experts in our Tech 500 research findings, followed by CEOs. Meanwhile, PR professionals have held steady with about 50% of journalists finding them a good source. Let’s explore some of the steps to take and things to consider to improve PR professionals’ reputation with the other 50% of journalists. 

Pitch perfect: How to meet journalists’ preferences 

Most journalists write 2-4 stories per week, which means they’re constantly on the lookout for fresh and exciting content. Pitching a timely and relevant story can significantly increase your chances of getting your work picked up. In fact, 25% of journalists say that half or more of their stories come from pitches. That’s right – a well-crafted pitch could be the key to unlocking the doors of major publications and media outlets.   

And the best part: Journalists are even more receptive to pitches this year compared to the previous year. According to the survey, around 7% of journalists said they are more likely to respond to a pitch now than last year. So, it’s the perfect time to start brainstorming and pitching those ideas! However, before you start firing off pitches left and right, there are a few things to keep in mind in order to create the “perfect pitch”:

First of all, most journalists (92%) prefer to be contacted by email.  But did you know that one of the most common complaints from journalists is the growing flood of irrelevant pitches clogging their email inboxes? Personalised pitches are crucial. Therefore, make sure to do your research: It’s not only important that your pitch features an exciting topic, but also that it is relevant to the journalist’s subject area.  

What else should you do to make sure your pitch hits the mark? Well, it turns out that more than half of journalists (55%) don’t care what day they receive a pitch. However, 21% prefer Mondays. And if you want to maximise your chances of success, you should send your pitch before noon, because 61 % of journalists prefer the first half of the day to check their mails for potential stories. 

Of course, it’s not just about when you send your pitch. It’s also about the content. Keep it short and sweet: 88% of journalists prefer pitches that are 300 words or less. More than two-thirds (69%) also say that pitches with topical relevance are most likely to be picked up. And if you need an ace up your sleeve, an exclusive offer could be the key to success: 76 % of journalists are more willing to cover a story if it is offered as an exclusive. Last but not least: If you need to follow up, one email – preferably 3-7 days later – is ideal for 45 % of journalists. 

Unicorn Club turmoil: Dehorned unicorns and VCs pullback

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In 2021, 539 companies achieved unicorn status. Yes, you are reading that right. Five hundred and thirty-nine companies achieved a valuation of more than $1 billion. In other words, the once rara avis started popping up like hot cakes, at a rate of almost 1.5 unicorns a day. To put this in context, almost four times as many unicorns were minted in 2021 as in 2020 (137 in total). What’s more, that figure was 20% more than the unicorns minted in the previous three years: 446 new unicorns between 2018 and 2020. 

2022 began with the same cadence of unicorn growth, with 126 in the first three months of the calendar year. At the height of the boom, the unicorn club surpassed 1,000 members for the first time in February last year. Then suddenly we saw a recognisable shift in frequency. There were 87 in Q2, 26 in the following quarter and only 19 in the last three months of the year. In other words, 258 new unicorns. A much higher figure than in any year prior to 2021, but a far cry from that of 2021 with a progressive drop quarter by quarter. The golden days when the money of VCs flowed uninhibited were over and instead, they tightened their belts in a context marked by macro trends such as inflation, rising interest rates and geopolitical crisis. Not only was this evident in the slowdown in the emergence of new unicorns, many of those already in the stable felt the brunt of drastic reductions in their valuations; to the point where some of them lost their horns. 

Unicorns minted every quarter between 2018 and 2022 – Source: CB Insights

The Unicorn Club in 2022 in figures 

2022 was a year in which the stable was revolutionised. There is no doubt about that, as anyone working in the technology sector will know. For us, as an agency at the intersection of technology, science and innovation, it is imperative to remain informed with these types of companies as many of them are revolutionising  industries and creating solutions to some of society’s biggest challenges.  Remote, Workato, ClickUp or Immuta are among some of the amazing brands we work with. We pride ourselves on being  great researchers of these types of fast-growing companies and enjoy learning about their journeys, their challenges and their practical advice. We have interviewed more than 30 unicorn leaders in our podcast – you can listen to all the episodes here – and we have published a practical guide summarising the main communication and culture tips we have learned during the first fifteen episodes with these inspiring entrepreneurs. We will soon be publishing the second edition with learnings and key takeaways from the most recent episodes, so keep an eye out for that! 

While there are multiple sources for information on this large group of organisations, we tend to rely on the data compiled by CB Insights. Earlier this year they published an updated version of the Unicorn Club as of 31st December 2022 (at the end of the article you will find an infographic with all the companies divided into 15 technology sectors). After diving into the data, these are the main trends we would like to highlight. 

The 3,800 trillion-dollar club 

The Unicorn Club is made up of 1,205 companies with a combined value of $3.86T. Currently only three companies exceed the $100B+ barrier (ByteDance, SpaceX and SHEIN). At the opposite end of the spectrum are 22.4% of the companies on the list, with a valuation of exactly $1B. After what we have seen in recent months with the readjustment of valuations for many unicorns, it is foreseeable that quite a few of these companies will have to leave the club.  

The world’s most valuable unicorns 

Of the hundreds of companies in the club, Chinese company ByteDance holds the honour of being the world’s largest unicorn, with a valuation of $140B. It is followed in the ranking by SpaceX, SHEIN, Stripe and Canva. 

The top 10 is dominated by three countries. Half of these companies are American – in addition to the aforementioned SpaceX and Stripe, Instacart, Databricks and Epic Games who are all among the world’s most valuable startups. China (ByteDance and SHEIN) has two companies at the top of this list, as does the UK (Checkout.com and Revolut). Australia’s Canva completes the top 10. 

The US dominates the club 

The top 10 is a representative sample of what is happening among the more than 1,200 unicorns in existence. Although unicorns originate from 47 countries, just over half of the companies are from the United States (54%), with China a distant second (14.3%). Rounding out the top 5 are India (5.8%), the UK (4.1%) and Germany (2.4%).  

Fintech and Internet software & services, the preeminent categories 

Four out of ten unicorns belong to the Fintech (20.9%) or Internet software & services (18.9%) categories. In the Fintech sector, companies such as Ripple and Plaid stand out in addition to the aforementioned Stripe, Checkout.com and Revolut.. Canva, Miro, OpenSea and Grammarly are some of the companies with the highest valuation in the Internet software & services category.  

The third most represented category is e-Commerce & direct-to-consumer (9%), among which SHEIN and Fanatics stand out. It is closely followed by Health (8%), a sector in which the main unicorns are the US companies Devoted Health and Biosplice Therapeutics.  

The veterans of the club 

As I mentioned at the beginning of this article, a remarkable number of unicorns emerged in 2021. Of the 539 that joined the club, 524 remain in it today. But who is the longest-serving member of the club, and how many have been members of this select group of private companies for more than a decade? 

The French company Veepee holds the honour of being the longest-serving company in the club. It achieved that status in mid-2007 and is currently valued at $1.38B.  

Only seven companies have been unicorns for more than ten years. After Veepee, the oldest members of the stable include Klarna and Vice Media (joined in 2011). In 2012, SpaceX, Fanatics, Avant and Trendy Group International joined the club. 

 

As new funding shrinks, tech companies expect more bang for their buck 

2022 has been a difficult year for a number of companies that were growing at a fast pace. In recent months many of them have had to make adjustments (sadly including layoffs) to adapt to market dynamics and, above all, to the reduced amount of funding available.  

« Doing more with less » has become the business mantra of today, forcing every company to make the most of every dollar/euro/pound invested. This is something we discuss on an ongoing basis with our current clients and our prospective clients. The words that come up most often during these discussions are « efficiency » and « flexibility ». Essentially, clients find that under the current pressure from investors, every communication activity must deliver the highest added value and in an environment with changing priorities, it is essential for them to partner with an agency that is able to adapt quickly. What we often hear as well is that this is a leading reason as to why our current clients choose to stay with us and why prospective clients decide to embark on a new communications journey with Tyto. Our distinctive PRWithoutBordersTM operating model is purpose-built for flexibility, efficiency and agility, allowing us to deliver 30% more value for the same budget with one single team in multiple markets operating without silos. Our model ensures that clients get more bang for their buck, whether it’s via media relations or broader content marketing actions. Our budgets are unique and not split between different entities or country teams, meaning we can change routes nimbly depending on the tailored and specific needs of our clients. We anticipate that 2023 will be a year of adaptation for further growth for many companies and we are uniquely positioned to achieve the best communication results in Europe for the most innovative brands out there. 

 

The global unicorn club market map (as of 31st December 2022) – Source: CB Insights

Brain-friendly-writing

Five facts about brain-friendly writing

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In PR, creating a variety of content is one of our daily tasks. But do we actually think about whether the sentences we write are really brain-friendly? Personally, I’d never given it much thought. I didn’t even know exactly what to think of as « brain-friendly writing ». Because my focus is very much on the content side of our job, I wanted to learn more about this perspective. To spark my curiosity, I decided to attend a webinar on it this summer. I learned that brain-friendly writing is about how our brain perceives written texts when we read them, what factors capture the reader’s attention and where they lose focus. And this doesn’t always happen the way we might think. Here are five key learnings I discovered during the webinar:

1. Our brain likes it short and simple

All day long, we are bombarded with a flood of information. To keep our brain from overheating, our limbic system is busy filtering out unimportant details all the time. So, when we write texts, we should always avoid repetition or self-explanatory passages. Our sentences should be as condensed as possible and unnecessary adjectives should be avoided.

2. The brain is a demanding reader

No matter how interesting a headline may sound, if the reader’s attention is not captured while reading the text, he or she will quickly lose interest. This does not only happen if the reader is bored, but also if a text contains too many repetitions and empty phrases. On the other hand, they may also feel overwhelmed by overly complicated sentences and foreign words and therefore give up reading the rest. Or the problem described is presented as so enormous and unsolvable that they feel discouraged. In addition, it is interesting to note that a reader can also feel anxiety and time pressure. This happens especially if the text is too long.

3. Nobody likes facts and figures

To highlight the importance of a particular issue, such as digital transformation, we often work with statistics and study results in our texts. However, these are not important for our brain when reading. For the reader, they are nothing more than dead numbers with which he or she cannot identify because the human and emotional component is missing. And this is true regardless of our professional position or the industry we work in. In the end, we are all just people who want to deal with things that are important and resonate with us personally.

4. It’s always about emotions

Reading and writing have little to do with logic as emotions play a large part. As readers, we want to know more about the story involving real people. This helps us to identify with what is being described. Pictures, concrete examples and the use of names help us to understand certain facts and to remember them better afterwards.

5. The lasting impact of a text

At the end of a well-written, brain-friendly text, there must always be a certain message that resonates. Most importantly, the message should be positive and give the reader a good feeling. Going back to the example of digital transformation mentioned earlier, this should not consist in the readers being confronted with an unfixable problem that they are powerless to solve. Instead, it should empower and motivate the reader to tackle the challenge and succeed.

 

Image ©Clever Visuals, unsplash.com