By Gretchen Halpin, Beyond AUM
It’s no secret that content marketing and PR go hand-in-hand but very few financial advisors effectively incorporate PR into their content marketing strategies. We have to ask, what’s the point in creating amazing content if no one knows about it? That’s where PR comes in
PR is the practice of managing the spread of information between a business and the public. In other words, it’s about getting your name out there and building relationships with your target audience. PR is an important way to build trust with your target audience. Financial services is a relationship business and PR can help you build those relationships through social proof. Social proof is a credibility-building tool and can include things like media placement, awards and rankings, case studies, and social media.
How can financial advisors get started in PR?
The first step is to define your goals. What do you want to achieve with your PR strategy? Do you want to increase brand awareness, drive traffic to your website, or generate leads? Once you know what you want to achieve, you can start planning your PR strategy.
There are a few different ways to develop a public relations strategy, but some common steps include:
- Identify your target audience: Whom do you want to reach with your PR strategy?
- Research the media: Which media outlets will be most effective in reaching your target audience?
- Develop key messages: What points do you want to communicate about your brand?
- Create a pitch: How can you make your story appealing to the media?
- Execute your plan: Once you have the above in place, it’s time to start executing.
Simply follow the SMART objectives model and you’ll be on the path to success.
SMART PR objectives are:
By following the SMART objectives model, you can develop PR goals that are specific, measurable, achievable, relevant, and time-bound. This will help you create a truly effective PR strategy. Let’s look at an example.
ABC Financial Advisors wants to build a client base of technology executives in the Austin, TX community. By incorporating PR into their marketing strategy, they hope to achieve the following in a twelve-month period:
Increase website traffic by 25%.
Appear in (3) of their identified publications, at least (1) each quarter.
20% increase in client engagement in emails and social media.
Now that you have your PR strategy and objectives, let’s dive into tactics. Here are several examples of how financial advisors can use PR to build their businesses.
- Media Relations: This involves developing relationships with members of the media and pitching stories to them. Make yourself available for media interviews.
- Articles for trade publications: This allows you to position yourself as an expert in your field.
- Community service: Get involved with local charities to give back to your community and build local relationships.
- Events: Hosting or attending events is a great way to generate buzz and media coverage for your brand. Even better, speak at events to build your credibility and show your expertise.
- Press releases: A press release is a formal way to announce newsworthy information – rankings and awards, acquisitions, and significant hires.
- Newsletters: Newsletters continue to be an effective way to keep your target audience up-to-date on what’s going on with your company.
- Social media: Social media platforms like LinkedIn, Facebook, and Instagram are powerful tools for promoting your content and engaging with your audience but like any tool, you must use it correctly.
By using a combination of these tactics, you can develop a PR strategy that’s tailored to your financial advisory business’ specific goals. And remember, don’t be afraid to get creative! There are endless possibilities when it comes to PR, so think outside the box and come up with a plan that’s truly unique. Don’t want to go it alone, Beyond AUM helps advisors reach their growth goals through strategic marketing plans and a team that supports execution. Ask us how.