Why is PR Important?
Public relations is an essential part of your overall marketing plan. It plays a huge role in protecting reputation, enhancing brand image, and contributing to business growth.
The financial services industry is a competitive space. Investors’ perception of the brands they connect with plays a role in deciding who they trust with their assets and financial futures.
Adding to the challenge, a firm’s capabilities and focus on “putting clients’ needs first,” are often not enough to stand out among competitors with a similar message.
Increasing brand awareness allows investors to become familiar with your firm, helping them to differentiate your business from others, which can influence a decision to engage. The key is to create a memorable brand that intrigues them enough to want to learn more.
Click the links for more reasons why building a brand is important for the health of your business and how PR can play a role:
Every Brand Needs a Messaging Platform
The first step in any PR plan is to create your messaging platform. It will be used as a blueprint of your ideal company image, showcasing the strongest and most compelling picture of your organization.
It includes a company narrative, core principles that define your business, proof points to support claims, and more, to create consistent messaging used in all internal and external communications.
It’s important to craft a brand narrative that let’s your core philosophy and company culture shine through. People tend to do business with companies that share their values, and that is what will make you stand out.
Not sure where to start? These blogs can help:
Use Media Relations to Build Credibility
Media relations is the heart of your communications campaign. It increases brand awareness, third-party credibility, and trust among your shareholders and current and prospective clients.
There isn’t a one-size-fits-all formula that works for every company or brand. Your media strategy should be based on the goals and outcomes of your business.
For instance, do you have a yearly goal to increase AUM? Are you trying to reach a new client segment? Whatever your objectives are, a broad national media presence may work for one firm, while another may need a more targeted campaign.
Click the links to get a deeper look into the best ways to approach media, how to master interviews, and maximize your media results:
Establish a Thought Leadership Platform
It’s important to position your firm’s executives as subject matter experts who can provide thoughtful commentary, analysis, and education to key stakeholders.
When you’re seen as an authority in a niche area or have valuable perspective on current trends and industry themes, the media will be more likely to turn to you as a resource. Clients will feel validated for choosing your business, potentially referring you to friends and family, and prospects may be more inclined to reach out.
From LinkedIn to CNBC to the company blog, each channel offers a different opportunity to develop your thought leadership skills. The way you speak and the type of information you share will vary.
Here are a few resources with more advice for polishing your thought leadership strategy:
Stand Out with Quality Content
Content that is both written and visual is key to helping brands stand out in a crowded marketplace, as it can increase brand awareness and help establish you as a trusted source. The more relevant content you put out into the world, the more chance people with find it.
From bylines and blogs to videos and podcasts, the right context mix can enhance your communications strategy and keep your brand top of mind.
Click the links for some great resources with tips for creating content with purpose:
A comprehensive public relations strategy that includes the right mix of messaging, media relations, thought leadership, and content, will set a strong foundation for a powerful brand image, helping to expand awareness and reach desired business outcomes.