Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                

Getting Your Startup Noticed in the Media

1. Crafting Your Narrative

In the bustling marketplace of startups, where innovation and novelty abound, the ability to weave a compelling narrative around your brand is not just an asset; it's a necessity. A well-crafted story can captivate the imagination of your audience, investors, and the media alike, transforming your startup from a mere business into a relatable entity with values, aspirations, and a mission that resonates. This narrative becomes the heartbeat of your brand, pulsating through every communication, campaign, and customer interaction. It's the thread that stitches together the fabric of your company's identity, setting you apart in a saturated market.

1. Human Connection: At its core, a compelling narrative fosters a human connection. Take, for example, the story of Warby Parker, which didn't just sell eyewear; it sold a vision of a world where every pair of glasses purchased would mean a pair donated to someone in need. This narrative of social responsibility and customer participation created a powerful emotional bond with their audience.

2. Brand Identity: Your story is the foundation of your brand identity. Airbnb's narrative revolves around the idea of belonging anywhere, turning strangers into hosts and travelers into locals. This narrative has not only defined their brand but also shaped the experiences they offer.

3. Problem-Solution Dynamic: A narrative often follows a problem-solution dynamic. Slack's story began with a team's frustration with inefficient communication and ended with a platform that revolutionized team collaboration. By highlighting the journey from problem to solution, Slack positioned itself as an indispensable tool for modern businesses.

4. Founder's Journey: The founder's journey can be a compelling element of your narrative. Sara Blakely's story of cutting the feet off her pantyhose to create the first prototype of Spanx is legendary. It humanizes the brand and makes the success feel attainable and personal.

5. Vision for the Future: A narrative should also paint a vision for the future. Tesla's story isn't just about electric cars; it's about a sustainable future, energy independence, and innovation. This forward-looking narrative inspires and aligns with the values of their customers.

6. Overcoming Adversity: Stories of overcoming adversity resonate deeply. Canva's narrative includes a period of struggle to find investors who believed in their vision of democratizing design. Their eventual success is a testament to perseverance and belief in their product.

7. customer Success stories: incorporating customer success stories into your narrative can be powerful. Shopify shares stories of entrepreneurs who have built successful businesses using their platform, thus showcasing the potential and empowering others to follow suit.

8. Cultural Relevance: Aligning your narrative with cultural movements can amplify its impact. Patagonia's commitment to environmental activism and sustainable practices has made their brand synonymous with conservation efforts, tapping into a cultural narrative larger than themselves.

crafting a compelling narrative is an art that requires authenticity, creativity, and strategic thinking. It's about finding the unique elements of your startup's journey and presenting them in a way that's not only true to your brand but also meaningful to your audience. Remember, in the end, people may forget the specifics of what you do, but they will always remember how you made them feel. And that's the power of a compelling story.

2. Tips and Strategies

Forging strong relationships with journalists is a cornerstone of effective media strategy for any startup looking to gain visibility. In the bustling world of news and media, journalists are the gatekeepers of information, determining what stories make it to the public eye. For startups, these relationships can mean the difference between obscurity and recognition. Understanding a journalist's needs, respecting their time, and providing them with compelling stories are just the beginning. It's about creating a symbiotic relationship where both parties benefit: journalists receive newsworthy content, and startups get the coverage they need. This dynamic requires a nuanced approach, blending professionalism with personal touch, and always being ready to provide value.

Here are some in-depth strategies and tips for building those crucial connections:

1. Understand Their Beat: Journalists specialize in certain topics or "beats". Knowing their areas of interest ensures you're reaching out with relevant pitches. For example, if a journalist covers technology, they might be interested in your startup's innovative app.

2. Personalize Your Approach: Generic pitches are often ignored. Take the time to personalize your communication. Mention a recent article they wrote and how your story could be a follow-up or a new angle.

3. Be a Resource, Not Just a Source: Offer insights or data that can help journalists in their reporting, even if it's not directly related to your startup. This positions you as a valuable resource.

4. Timeliness is Key: Align your pitches with current events or trends. If there's a surge in eco-consciousness, and your startup has a green initiative, that's the perfect time to reach out.

5. Exclusive Content: Sometimes offering an exclusive story can be the ticket to coverage. This means giving one journalist the scoop before anyone else, which can be a powerful incentive.

6. Follow Up, But Don't Pester: After sending a pitch, it's appropriate to follow up once if you haven't heard back. However, respect their decision if they're not interested.

7. Build Relationships Outside of Your Needs: Engage with journalists without always seeking something in return. Comment on their articles, attend events they're hosting, and show genuine interest in their work.

8. Prepare Media Kits: Have ready-to-go packages that include high-quality images, background information, and potential interview questions. This makes the journalist's job easier when they decide to cover your story.

9. Be Ready for the Interview: When a journalist shows interest, be prepared to provide a clear, concise, and engaging narrative about your startup. Practice your key messages and have stats and anecdotes at the ready.

10. Say Thank You: If a journalist covers your startup, thank them. A simple gesture of appreciation can go a long way in maintaining a good relationship.

By implementing these strategies, startups can develop meaningful relationships with journalists, leading to more frequent and favorable media coverage. Remember, it's about mutual benefit and respect, which takes time and effort to cultivate.

Tips and Strategies - Getting Your Startup Noticed in the Media

Tips and Strategies - Getting Your Startup Noticed in the Media

3. Leveraging Social Media for Maximum Exposure

In today's digital age, social media is an indispensable tool for startups looking to gain visibility and traction. The platforms offer a unique opportunity to connect with a global audience, engage with customers, and build brand identity. However, the vastness of social media also presents a challenge: how can a startup stand out in a sea of content? The key lies in strategic planning, understanding the nuances of each platform, and tailoring content to resonate with the intended audience. It's not just about being present on social media; it's about leveraging these platforms to create meaningful interactions and drive business objectives.

From the perspective of a marketing strategist, the focus is on analytics and trends. They would emphasize the importance of data-driven decisions and the ability to pivot strategy based on real-time feedback. A content creator, on the other hand, might stress the significance of storytelling and authenticity to forge a genuine connection with followers. Meanwhile, a social media influencer could highlight the power of collaborations and partnerships to expand reach.

Here are some in-depth strategies to maximize social media exposure:

1. identify Your Target audience: Understand who your ideal customers are, what platforms they use, and when they are most active. For example, if your startup is a fitness app, platforms like Instagram and YouTube can be ideal for sharing workout videos and health tips.

2. Create a Content Calendar: Plan your posts in advance to maintain a consistent presence. This could include motivational Mondays, workout Wednesdays, and nutrition tips on Fridays, ensuring a well-rounded approach to content.

3. Engage with Your Audience: Respond to comments, messages, and mentions. A startup that actively engages with its audience, like the skincare brand Glossier, can build a loyal community.

4. Utilize Hashtags and Trends: Participate in relevant hashtags and trends to increase visibility. A tech startup might use #TechTuesday to share industry insights or innovations.

5. leverage User-Generated content: Encourage your customers to share their experiences with your product. GoPro's strategy of featuring customer videos is a prime example of this approach.

6. Invest in Paid Advertising: Use targeted ads to reach potential customers. Facebook and Instagram offer sophisticated targeting options based on demographics, interests, and behaviors.

7. track and Analyze performance: Use analytics tools to measure the success of your posts and campaigns. Adjust your strategy based on what content performs best.

8. Collaborate with Influencers: Partner with influencers who align with your brand values to tap into their follower base. A fashion startup might collaborate with a popular fashion blogger for a campaign.

9. Host Giveaways and Contests: These can quickly increase engagement and reach. A recent startup, Bite Toothpaste Bits, gained significant attention by hosting a giveaway for a year's supply of their product.

10. share Behind-the-Scenes content: give your audience a glimpse into your company culture and the people behind the brand. This humanizes your startup and builds trust.

By implementing these strategies, startups can effectively leverage social media for maximum exposure, turning followers into customers and advocates for the brand.

Leveraging Social Media for Maximum Exposure - Getting Your Startup Noticed in the Media

Leveraging Social Media for Maximum Exposure - Getting Your Startup Noticed in the Media

4. Writing and Distribution Best Practices

Press releases are a pivotal element in the media strategy of any startup looking to gain attention in a crowded marketplace. They serve as the official statements issued to journalists and other media representatives to suggest a story, announce an event, or launch a product. crafting a compelling press release requires a blend of creativity, clarity, and strategic planning. From the perspective of a journalist, a press release should be newsworthy, concise, and provide all the necessary information to craft a story. For a PR professional, it's about capturing the essence of the brand and communicating it in a way that resonates with both the media and the target audience. Meanwhile, from a startup's viewpoint, the press release is a chance to showcase their innovation and build credibility.

Here are some best practices for writing and distributing press releases:

1. Headline: Start with a strong, attention-grabbing headline. It should be brief, clear, and to the point, summarizing the news in a way that entices the reader to learn more. For example, "XYZ Startup Revolutionizes E-commerce with AI-Powered Shopping Assistant."

2. First Paragraph: The opening paragraph should answer the who, what, when, where, and why. This is crucial as journalists may only read the first few lines before deciding if they will cover the story.

3. Body: Provide detailed information, including quotes from key stakeholders, statistics, and background information. Use bullet points to break up complex information, making it digestible.

4. Boilerplate: End with a boilerplate, a short paragraph about the company, including its mission, history, and achievements. This should remain consistent across all press releases.

5. Multimedia: Include high-quality images or videos when possible, as this can increase engagement and the likelihood of your press release being picked up.

6. Distribution: Utilize both traditional (newswire services) and modern (social media, email) distribution channels to maximize reach. Tailor the distribution list to include journalists and outlets that cover your industry.

7. Timing: Time the release to coincide with industry events, trends, or news cycles for maximum impact. Avoid sending it out on Fridays or before major holidays.

8. Follow-Up: After distribution, follow up with key contacts to offer additional information or an interview with a company spokesperson.

9. Monitoring: Use tools to monitor the pickup of your press release and analyze the coverage it receives. This can inform future PR efforts.

For instance, a startup in the fintech space might issue a press release announcing a new mobile payment solution. They could distribute it just before a major financial technology conference, include quotes from the CEO and a well-known industry analyst, and follow up with top finance journalists.

Remember, the goal of a press release is not just to inform, but to tell a story that aligns with your brand narrative and compels others to share it. By adhering to these best practices, startups can effectively leverage press releases to stand out and get noticed in the media landscape.

Writing and Distribution Best Practices - Getting Your Startup Noticed in the Media

Writing and Distribution Best Practices - Getting Your Startup Noticed in the Media

5. Essential Components and Design

In the bustling world of startups, standing out in the media can be as crucial as the product or service itself. A well-crafted media kit is an indispensable tool in this quest for attention. It serves as a bridge between your startup and the media, providing journalists and influencers with a comprehensive and engaging overview of your company. Think of it as a curated showcase, one that highlights the most newsworthy aspects of your startup, tailored to spark interest and facilitate coverage.

From the perspective of a journalist, a media kit that is concise, visually appealing, and packed with pertinent information can be the difference between a story that gets covered and one that is overlooked. For influencers, a media kit that aligns with their content and audience can lead to more authentic and effective promotions. Startups, on the other hand, view media kits as a reflection of their brand's professionalism and their commitment to making the journalist's or influencer's job easier.

Here are the essential components and design elements that should be included in a media kit:

1. Company Overview: A brief introduction to your startup, including its mission, vision, and unique value proposition. For example, if your startup specializes in eco-friendly packaging, highlight how your innovation contributes to sustainability.

2. Founder Bios and Photos: Insightful biographies and professional photographs of the founders and key team members. This personal touch can make your story more relatable, as seen in the media kit of Dropbox, which features a casual yet professional snapshot of its founders alongside their journey.

3. Product or Service Descriptions: Detailed explanations of your offerings, accompanied by high-quality images or videos. Use bullet points to break down complex features, much like how Slack's media kit efficiently outlines its communication platform's capabilities.

4. press Releases and news: A compilation of previous press releases and significant news articles that have featured your startup. This serves as social proof of your media presence, similar to how Airbnb includes notable mentions in its media kit.

5. Media Coverage Highlights: Select quotes and testimonials from previous media coverage. When Evernote rebranded, its media kit smartly included positive feedback from tech journalists to emphasize the successful reception.

6. Statistics and Milestones: Quantifiable achievements, user statistics, and growth milestones that underscore your startup's success and potential. For instance, a fintech startup might showcase its user growth rate or transaction volume.

7. Logos and Brand Guidelines: High-resolution logos and a clear set of brand guidelines ensure consistent representation across media platforms. This is particularly important for maintaining brand integrity, as demonstrated by the detailed brand guidelines in Adobe's media kit.

8. Contact Information: Direct contact details for media inquiries, ensuring that journalists and influencers can easily reach out for more information or to arrange interviews.

9. FAQ Section: A list of answers to commonly asked questions can preemptively address media queries and reduce back-and-forth communication.

10. Testimonials and Endorsements: positive reviews from customers or endorsements from industry figures can add credibility. For example, a tech startup might include a testimonial from a well-known venture capitalist.

Design-wise, your media kit should be visually aligned with your brand's aesthetic, using consistent colors, fonts, and imagery. It should be easily navigable, preferably in a digital format that allows for quick updates and sharing. The layout should be clean and uncluttered, with enough white space to make the content easily digestible.

A media kit is more than just a packet of information; it's a strategic asset that can significantly enhance your startup's media relations. By incorporating these components with thoughtful design, you can create a compelling narrative that resonates with the media and fosters meaningful coverage.

Essential Components and Design - Getting Your Startup Noticed in the Media

Essential Components and Design - Getting Your Startup Noticed in the Media

6. Establishing Authority in Your Industry

guest blogging is a powerful strategy for startups looking to make their mark in the media landscape. It involves writing and publishing articles on other companies' websites, particularly those within your industry that already have an established audience. This tactic serves multiple purposes: it can drive traffic back to your own site, help build relationships with peers in your industry, and most importantly, position you as a thought leader in your field. By sharing unique insights, innovative ideas, and practical advice, you can demonstrate your expertise and knowledge to a wider audience.

Here are some in-depth insights into how guest blogging can establish authority in your industry:

1. Showcase Expertise: Write about what you know best. For example, if your startup specializes in AI technology, contribute articles that explain complex AI concepts in layman's terms or share case studies of how AI can solve real-world problems.

2. Solve Industry Problems: Identify common challenges within your industry and provide solutions. For instance, if cybersecurity is your niche, offer actionable tips for businesses to protect themselves against the latest cyber threats.

3. Trend Analysis: Share your analysis of industry trends. If you're in the renewable energy sector, discuss the implications of recent technological advancements or policy changes.

4. Collaborate with Influencers: Partner with industry influencers for a joint article. This not only broadens your reach but also lends additional credibility to your brand.

5. Diversify Content Types: Don't just stick to articles; create infographics, videos, or podcasts. For example, an infographic that visually represents data trends in the e-commerce industry can be both informative and shareable.

6. Engage with the Community: Respond to comments on your guest posts and engage with readers. This interaction shows that you're not just broadcasting information but are also interested in dialogue.

7. Follow Up with a Series: If a particular post gains traction, consider following up with a series of posts on the same topic to keep the audience engaged and coming back for more.

8. Measure and Analyze: Use analytics to track the performance of your guest posts. This data can help you refine your strategy and focus on what works best.

By employing these strategies, startups can leverage guest blogging to build authority and gain visibility in a crowded market. Remember, consistency is key. Regular contributions to reputable sites can compound over time, leading to increased recognition and respect within your industry.

Establishing Authority in Your Industry - Getting Your Startup Noticed in the Media

Establishing Authority in Your Industry - Getting Your Startup Noticed in the Media

7. A Pathway to Media Attention

In the bustling world of startups, gaining media attention can be as crucial as securing funding. Hosting events is a strategic avenue that can lead to significant media coverage, propelling a startup into the public eye. This approach is multifaceted, offering a platform for startups to showcase their innovations, build relationships with journalists, and create buzz in the industry. From product launches to thought leadership conferences, events serve as a catalyst for stories that capture media interest. They provide a tangible experience that can translate into compelling narratives for reporters to share with their audience.

Insights from Different Perspectives:

1. Startup Perspective:

- Networking Opportunities: Events are prime opportunities for startups to network with media professionals. A well-organized event can attract journalists looking for the next big story.

- showcasing Products/services: Demonstrating a product in action can be more impactful than a press release. For example, a tech startup might host a demo day, allowing attendees to experience their new app firsthand.

2. Media Perspective:

- content creation: Journalists are always on the lookout for fresh content. Events provide them with new material and insights into industry trends.

- Human Interest Stories: Media outlets love human-centered stories. Hosting charity events or community-focused initiatives can lead to positive coverage. For instance, a startup that organizes a hackathon for social good can gain attention for both the cause and the company.

3. Public Relations (PR) Perspective:

- Controlled Messaging: Events allow startups to control the narrative. By setting the agenda, they can highlight what's most newsworthy about their venture.

- Building Hype: Pre-event PR campaigns can build anticipation. An example is the buzz created by tech giant Apple before their annual WWDC conference.

4. Audience Perspective:

- Engagement: Events engage potential customers and create a sense of community around a brand.

- Feedback Loop: They also act as a feedback loop, providing valuable insights into customer needs and preferences.

In-Depth Information:

1. Planning and Execution:

- The success of an event hinges on meticulous planning and flawless execution. This includes selecting the right venue, crafting a compelling agenda, and ensuring a smooth run-of-show.

2. Media Invitations:

- Personalized invitations to key media players can make a difference. It's important to understand the beat and interest of the journalists being invited.

3. social Media integration:

- leveraging social media before, during, and after the event can amplify its reach. Live-tweeting, hashtags, and streaming can engage a wider audience.

4. Post-Event Follow-Up:

- The work doesn't end when the event does. Following up with attendees, especially media representatives, can foster relationships and lead to future coverage.

Examples to Highlight Ideas:

- A startup in the renewable energy sector might host an event showcasing a new solar panel technology. By inviting industry experts, media, and potential investors, they can create a narrative around innovation and sustainability.

- A fintech company could hold a seminar on financial literacy, positioning themselves as thought leaders while also engaging with the community and attracting media interest.

Hosting events is a powerful tool for startups seeking media attention. It's an investment in the brand's narrative and an opportunity to connect with the industry's storytellers. When executed thoughtfully, it can lead to the kind of media exposure that fuels growth and establishes a startup's place in the market.

A Pathway to Media Attention - Getting Your Startup Noticed in the Media

A Pathway to Media Attention - Getting Your Startup Noticed in the Media

8. Utilizing Accolades for Publicity

In the competitive world of startups, standing out is paramount, and one effective way to do so is through the strategic use of awards and recognitions. These accolades serve not just as a testament to a company's excellence, but also as a powerful tool for publicity. They can enhance a startup's reputation, attract new customers, and even help in securing investment. From the perspective of the media, awards can be a signal of a story worth telling, while from a consumer standpoint, they are often seen as a mark of quality and reliability.

1. Media Attraction: Awards can generate media interest, leading to coverage that reaches a wide audience. For example, winning a prestigious award like the 'Innovator of the Year' can result in feature articles in industry publications and mentions in news segments, thereby increasing visibility.

2. Investor Confidence: Recognition can also bolster investor confidence. A startup that has received multiple industry awards may find it easier to attract funding. Investors see awards as an external validation of the startup's potential and market position.

3. Customer Trust: For customers, awards are a sign of credibility. A product that has been recognized with an 'Editor's Choice' award is likely to be perceived as a high-quality offering, influencing purchasing decisions.

4. Recruitment and Morale: Winning awards can aid in recruitment and boost team morale. Prospective employees are drawn to companies that are recognized as leaders in their field, and current employees feel a sense of pride and motivation.

5. Networking Opportunities: Awards ceremonies are often accompanied by events that provide networking opportunities. Startups can leverage these events to build relationships with industry leaders, potential partners, and media representatives.

6. Marketing and Branding: Accolades can be used in marketing materials to enhance branding. For instance, a startup can display badges on their website or packaging, signaling to visitors and customers that they are an award-winning company.

7. Differentiation: In a crowded market, awards can differentiate a startup from its competitors. If two apps offer similar services, but one is an award-winner, it may sway users in favor of the latter.

8. SEO Benefits: Awards can also have indirect benefits such as improving search engine optimization (SEO). When a startup wins an award, it often leads to backlinks from reputable sites, which can improve search rankings.

Examples:

- Dropbox, in its early days, won the TechCrunch50 award, which helped it gain significant media attention and user growth.

- Canva has utilized its multiple design awards to establish itself as a leader in the graphic design software space, influencing both users and investors.

Awards and recognitions are not just shiny trophies to sit on a shelf; they are a multifaceted tool that can significantly impact a startup's public image and growth trajectory. By strategically utilizing these accolades, startups can gain an edge in the media landscape, turning the spotlight onto their innovations and achievements.

Utilizing Accolades for Publicity - Getting Your Startup Noticed in the Media

Utilizing Accolades for Publicity - Getting Your Startup Noticed in the Media

9. Measuring Media Impact on Your Startup

In the fast-paced world of startups, gaining media attention can be a game-changer, propelling your brand into the spotlight and attracting customers, investors, and partners. However, once you've secured that coveted coverage, it's crucial to understand the impact it has on your business. Analyzing the results of media exposure allows you to gauge the effectiveness of your strategies, understand your audience better, and refine your approach to public relations. It's not just about the quantity of media hits; the quality and the subsequent engagement are what truly matter.

From the perspective of a startup founder, the immediate concern is often the direct effect on sales or website traffic. A surge in these metrics post-publication can indicate a successful media hit. For instance, if a feature article in a major tech blog leads to a 50% increase in website visits, that's a tangible result that can be directly attributed to the media exposure.

On the other hand, marketing professionals might look deeper into engagement metrics such as time spent on the website, bounce rate, and social media interactions. These can reveal how compelling the content was and whether it resonated with the target audience. For example, a high number of shares or comments on a social media post linking to the article can signal strong engagement.

Here are some ways to measure media impact in-depth:

1. Web Analytics: Utilize tools like Google analytics to track spikes in traffic following a media mention. Look for increases in new users, page views, and the average session duration.

2. Conversion Rates: Monitor any changes in sign-ups, downloads, or purchases that can be correlated with the timing of the media coverage.

3. social Media metrics: Measure likes, shares, comments, and hashtag usage related to your startup. Tools like Hootsuite or Sprout Social can help track these metrics across platforms.

4. Sentiment Analysis: Use software to analyze the sentiment of the coverage and social media reactions. Positive sentiment can enhance brand reputation, while negative sentiment may require damage control.

5. Press Clippings: Collect and review all mentions and features across various media outlets. This can help you understand the reach and frequency of your coverage.

6. Influencer Impact: If influencers are involved in spreading the word, assess their impact by looking at the engagement on their posts and any referral traffic they generate.

For example, a startup specializing in eco-friendly packaging noticed a significant uptick in inquiries and sample requests after being featured in an environmental blog. The blog's readership aligned perfectly with the startup's target market, resulting in high-quality leads and several new contracts.

Measuring media impact is not a one-size-fits-all process. It requires a combination of quantitative data and qualitative insights to fully understand how media coverage is influencing your startup's growth and reputation. By regularly analyzing these results, you can fine-tune your media strategy to ensure that every mention counts and contributes to your startup's success story.

Measuring Media Impact on Your Startup - Getting Your Startup Noticed in the Media

Measuring Media Impact on Your Startup - Getting Your Startup Noticed in the Media

Read Other Blogs

Valuation and Investment: Valuation Metrics Every Entrepreneur Should Know

When embarking on the journey of entrepreneurial success, one critical milestone is the ability to...

Time Discipline: Time Blocking Techniques: Time Blocking Techniques for Improved Time Discipline

In the pursuit of mastering one's schedule and enhancing productivity, the adoption of strategic...

Leveraging Intellectual Property for Venture Capital Success

Intellectual property (IP) serves as a cornerstone in the edifice of venture capital (VC),...

Medical fitness software: Driving Customer Engagement: Marketing Medical Fitness Software to Startups

In the realm of startup innovation, the synergy between healthcare and digital technology is...

The Top Hurdles When Applying for a Small Business Loan

When you're a small business owner, there are a lot of things you have to think about. One of the...

Body Wellness Trend Unlocking Holistic Wellness: A Guide to Nourishing Your Body and Mind

When it comes to understanding holistic wellness, it's important to delve into the various aspects...

Brand engagement: Conversion Rate Optimization: Conversion Rate Optimization: Turning Interest into Brand Engagement

In the realm of digital marketing, the alchemy of transforming casual browsers into committed...

Nursery Trends and Opportunities: Tech Savvy Nurseries: Innovations and Startups in Baby Room Design

The world of baby room design is undergoing a radical transformation, thanks to the emergence of...

Fundamental Analysis: The Fundamental Factors: Predicting Currency Movements with Precision

Fundamental analysis in Forex trading is a method by which a trader examines the intrinsic value of...