Stepping up their marketing game is on many advisors’ minds these days. As practices mature, so does the desire to attract the right type of clients. Periodic promotions may help boost business in the short run, but a brand is built with an effective public relations message that gets your optimal prospects to connect with you when they are ready for professional financial advice. Clear positioning is about getting the right message to the right people at the right time.
The right PR firm should first and foremost teach you the value of building long-term relationships with members of the press who will find your story compelling. Then they should help you build those relationships. Media placements and working with the media should not be viewed as transactions.
Depending on which market you wish to reach, your message will vary as will the media in which you will want appear in to convey that message. Being clear about what you say and where you say it is critical to effective positioning.
How do you find the right PR firm to guide you through this maze? Look for a firm whose principals are committed to knowing the financial services industry inside out and who have advisory clients who will provide enthusiastic references that focus not just on the quantity but more important, the quality of results obtained. The right PR firm should be able to show you detailed results of the media coverage they’ve generated for clients in the past quarter or six months, both print and broadcast, with the specific news outlets you are trying to reach. You need a firm whose professionals have long-standing, trusted relationships with reporters, columnists, editors, bookers, and producers. You need to ask if they can get you a meeting with the personal finance columnist of your city’s daily newspaper, for instance, or meetings with journalists at The Wall Street Journal, Worth Magazine, CNBC, or Fox News.
Expectations and Your Role
Don’t let the wrong PR firm learn the ropes on your nickel. The right firm will deliver your message to strategically targeted members of the media, providing a constant flow of helpful, timely, and on-point information about your company and its services, as well as news angles that complement your expertise. That’s how reporters can transform your message into informative articles or news shows that showcase your firm’s offering. The right PR campaign delivers an outcome, not just a plan.
What is your role in the PR process?