When Sovos Compliance, a global leader in tax and business-to-government software, enlisted ARPR as its agency of record, the compliance SaaS giant was preparing to release a new proprietary data report illustrating the challenges around key global tax initiatives. Based on a survey conducted by the analyst firm Aberdeen Group, Sovos was eager to raise industry awareness in trade media about the high percentage of inaccurate filings amongst financial institutions; many of which mistakenly believed that they were well prepared for the Foreign Account Tax Compliance Act (FATCA).The data report also illustrated how automated, centralized solutions supporting the Automatic Exchange of Information (AEOI) significantly helped mitigate errors, increase efficiencies and improve data accuracy. Sovos felt that educating prospects about the misconception of FATCA compliance and benefits of a centralized approach to AEOI would solidify its position as an industry leader, while also promoting its new AEOI solution. Since media relations had not been a focus in Sovos’ marketing and communications program, ARPR was tasked with a feat that hadn’t been attempted before – landing earned coverage in national business and target trade outlets – particularly, in Accounting Today.
ARPR had previously led several successful media outreach campaigns around data reports for clients and, as such, knew that journalists preferred an exclusive first look at proprietary statistics. This time, however, the client challenged us to gain coverage without offering exclusivity. Preparation time was also limited, as the report was slated for release with only a week’s notice. In order to earn top tier coverage, we focused on a well-researched short list of journalists who we believed would be most interested in covering FATCA and AEOI based on their previous stories. We then set out to educate and interest these journalists in the underlying story of the data in the report with hyper-personalized pitches tailored by their past coverage of these topics.
ARPR’s hyper targeting strategy paid off, landing coverage in top-tier trade outlets like Accounting Today, CPA Practice Advisor and The Wall Street Journal’s Risk & Compliance section. Sovos was thrilled we achieved their objective in such a short time frame. We also garnered interest from journalists at Bloomberg BNA and Forbes from this announcement, which led to strong relationships and interviews with Sovos leadership around other tax storylines, including the impact of the upcoming 2016 presidential election on domestic tax issues.
Sovos VP of Tax has since contributed his expert insights for reports published by Bloomberg BNA and Accounting Today, and is now a go-to source on state tax news for the Bloomberg reporter we initially pitched. Further, within a month, Sovos began receiving inbound interview requests from additional reporters who referenced seeing the media stories we secured around the AEOI data report. In less than a few month’s time, our work to secure coverage of the data reports had a much bigger impact: it solidified Sovos’ status as an industry expert and thought leader among the media.