The explosion (good and bad) of the media landscape is presenting all sorts of questions and dilemmas for PRs and journalists in the financial services sector. The terminology and options available are often bewildering for even the most seasoned PR pros. Cognito's latest edition of WoM helps to give an overview of what companies should be doing. Cognito is also about to launch the results of some new research into the use of social media in the financial sector. To ensure you get a copy, please email Tom.Coombes@cognitomedia.com.

For those who are confused as to what to do, here is an at a glance tip guide.

1) Focus on developing quality content
Interesting news, opinion and positioning is more important than ever

2) Evaluate the best channels for your business
Few companies can afford to send everything to everyone. Who are your audiences? What do they read? Which industry sites do they spend time at? Pick your distribution mechanisms accordingly.

3) Plan, don't react
Step back and plan your approach and landscape. Thorough planning and evaluation of the options from the outset is critical.  

On the back of box office smash, Avatar, and better than expected profits, Rupert Murdoch declared yesterday: "The debate over the primacy of content is over: content is not just king. It is the emperor of all things electronic." As Carly Fowler noted on this blog 2 weeks ago, a serious backlash is currently under way which presages the end of free content as we know it. While I may not see eye-to-eye with the proprietor of Fox News on most things, the reality is that Mr Murdoch may be the one player with enough clout to bring about the necessary rebalancing to the content equation.