Manali Pilankar decodes the transformative role of PR in today’s business realm

In conversation with Adgully, Manali Pilankar, Associate Director - Corporate communications JM Financial Limited, unveils insights into the Media Playbook for 2024 and explores the intricate landscape of media dynamics, communication strategies, and the transformative role of PR in today’s business realm. With a wealth of experience in integrated communications and PR, Manali Pilankar illuminates the critical interplay between business objectives and communication strategies, emphasising on the imperative need for alignment to achieve organisational success. Throughout the discussion, she delves into emerging trends, such as AI integration, blockchain’s impact, and the diversification of media channels, offering invaluable guidance for communication professionals navigating the dynamic shifts in the industry. Her expertise and strategic prowess underscored the importance of adaptability, innovation, and ethical communication practices, encapsulating the essence of the Media Playbook for 2024.

In the rapidly evolving landscape of media and communications, what are the key trends you foresee shaping the Media Playbook for 2024?

The media and communications landscape is going through an extremely interesting, exciting as well as significant phase in which old rules are being rewritten and new thoughts and concepts are being introduced. Thanks to digitalisation, the growth of digital media and social media, remaining ahead of the media relations curve is necessary. Being a PR professional, one needs to continuously engage in conversations with the audience on multiple media platforms to demonstrate the responsive aspect of the brand. In this era of immediacy, media and communications professionals will work more closely with the C-suite members to manage reputation, media engagement and control the narrative. The coverage spectrum will expand further and coverage weightage will be spread across traditional media as well as new-age media. As the media universe is becoming more diverse in nature, the media and communications professionals will be deploying multiple pitches on a particular development to gain maximum media exposure. In addition, a data-driven approach will become even more intrinsic when it comes to selecting the media and measuring the impact. Another key trend to watch for is the integration of Artificial Intelligence with social media platforms to deliver personalised content.

How crucial is it for businesses today to align their communication strategies with their overarching business goals, and how do you ensure this alignment at JM Financial?

Aligning communication strategies with overarching business goals is a strategic imperative that positions communication as a purposeful and integral force driving the overall visibility impact of the organization. An effective synergy between the business goals or corporate strategy and communication narrative leads to a streamlined internal and external communications framework devoid of any ambiguity. What’s quite encouraging to note is that C-suites in all organisations are realising the importance of cohesiveness between business goals and communication strategies.

At JM Financial, we believe in synchronising communication strategies with business goals to establish a framework where each communication initiative is strategically positioned to propel and amplify the organisation’s overarching objectives. This strategic coherence is helping us foster a unified approach across diverse communication channels.

With your extensive experience in integrated communications and PR, what strategies do you believe will be most effective in engaging both internal and external stakeholders in the coming years? 

In the dynamic landscape of financial services, an effective engagement strategy involving both internal and external stakeholders is essential for sustained progress.

Looking ahead, a multifaceted approach is crucial for effective engagement internally and externally. Internally, fostering transparent communication channels and regular updates on organisational developments can enhance employee morale and commitment. Creating avenues for feedback and suggestions further empowers the internal workforce. Internal communication needs to evolve, incorporating transparency, active listening, and nurturing open dialogue. These ideas will be the foundation of successful strategies in the year ahead.

Externally, organisations should leverage the rich experience and expertise of the communication and PR professionals to communicate a unique value proposition to clients and partners. Targeted communication strategies, supported by insights and timely execution, can strengthen existing partnerships and attract new clients. The integration of digital communication tools and platforms can enhance external stakeholder engagement, by making the communications real-time and interactive.

Creative approaches and collaboration with diverse stakeholders are valuable assets in developing compelling narratives that resonate with both internal and external audiences. Engaging storytelling, supported by data-driven insights, can pave the way for enhancing brand perception and trustworthiness.

A combination of transparent internal communication, targeted external messaging, and innovative storytelling can position organisations for sustained growth by engaging both internal and external stakeholders, going forward.

In your view, what role will emerging technologies (such as AI, VR, or blockchain) play in reshaping the landscape of corporate communications and PR in the foreseeable future?

In this evolving phase of corporate communications and PR, there is a notable surge in utilising AI across various sectors. This trend is particularly driven by the fact that traditional media platforms in some cases grapple with limitations in driving effective communication strategies. AI, when deployed judiciously, proves to be a formidable tool for research and value addition, amplifying skills, fostering creativity, and boosting overall productivity.

One significant trend that emerges is the integration of AI in influencer marketing. The potential of AI to enhance content creation is evident, but it comes with a caveat – influencers need clear guidelines on the ethical and legal aspects of the use of AI-generated content. As influencers increasingly turn to AI to augment their creative output, it becomes imperative to establish and communicate the rules governing such practices.

Looking ahead, the concept of generative personalization of AI-generated content holds promises in addressing consistency issues. Embracing AI as a tool to amplify creativity rather than replace it is the key here. It’s essential to recognise the role of AI in enhancing the quality and relevance of content.

In addition, the transformative influence of blockchain-based media is reshaping the landscape of information dissemination. The inherent features of blockchain, including enhanced transparency and data ownership, offer a progressive shift in how information is accessed and shared. This innovation aligns with the broader industry shift towards greater transparency and integrity in communication.

All these technologies present opportunities to elevate communication strategies, foster creativity, and enhance transparency, contributing to a more dynamic and responsive communication landscape.

As a communication strategist, how do you balance the need for innovation and risk-taking with the necessity of maintaining the company’s established brand identity?

Balancing innovation, risk-taking, and preserving an established brand identity requires a nuanced approach. Maintaining a fine balance between innovation and prudent risk-taking is paramount to adapting to shifts in audience and stakeholder preferences. At the forefront of this strategic balancing act is the unwavering commitment to authentic and ethical messaging. As we explore new-age formats, the core emphasis remains on truthful and principled communication.

The focus is not merely on adopting new trends; it is about practicing responsible and trustworthy communication. By infusing innovation with authenticity, we not only cater to the evolving needs of our stakeholders but also fortify the foundation of enduring trust—an invaluable currency in the evolving landscape of communication.

The media landscape is increasingly diversified. How does JM Financial adapt its communication strategies to resonate with various demographics and channels effectively?

Adapting to the diversifying media landscape is integral to our strategy. We tailor our communication approaches to resonate with diverse demographics and channels effectively. Embracing a multi-channel approach, we leverage traditional media, digital platforms, and social channels strategically. Content customisation is paramount, ensuring that information is presented in formats suitable for varied comprehension levels. Constant evaluation using data-driven insights enables us to refine our strategies, ensuring our brand communication remains agile, adaptive, and resonant across the evolving media landscape.

Given the influence of social media, how does your team leverage these platforms to enhance brand visibility and engagement while mitigating potential risks?

Through a proactive approach and strategic online brand building, we harness the power of social media to cultivate an engaged audience. Continued tracking of conversations, mentions, and sentiments enables swift identification of perceptions, facilitating timely actions. Leveraging employee advocacy strengthens relationships, creating brand champions across diverse interest groups through internal networks. This engagement underscores the value of opinions. Ensuring uniform messaging across all social platforms establishes a robust and consistent brand presence, reinforcing strong recall. The synergy of these efforts positions us to effectively navigate the dynamic landscape of social media and foster enduring brand connections.

By monitoring feedback carefully, ensuring transparent communication, and staying receptive to evolving trends, potential risks can be mitigated. The key here is to foster a positive and responsive online presence that resonates with the target audience while safeguarding the brand's integrity.

Looking ahead, what advice would you give to aspiring communication professionals aiming to navigate the rapidly changing dynamics of media and PR in the coming years?

The dynamic digital and social media landscape brings both excitement and challenges to communication. The PR arena is undergoing a notable shift fueled by the adoption of integrated, multifaceted strategies for maintaining consistent messaging across platforms. My advice to emerging communication professionals is to diversify outreach channels strategically, aiming for maximum impact. Embrace data-driven storytelling to elevate engagement and relevance, navigating the evolving communication terrain effectively.