Let’s start off by defining public relations and why it is important to financial advisors.
Merriam Webster defines public relations as: the business of inducing the public to have understanding for and goodwill toward a person, firm, or institution.
That’s important! Advisors work very hard to create a certain image for themselves and their firm. It doesn’t matter how good your services are if nobody knows you exist or you have a poor online reputation. From your tagline and logo, to your website content and even your social media posts, everything is carefully crafted with the consideration of how a potential client will perceive it.
Here are five tips to make sure your public relations reinforces the image you’ve worked so hard to maintain:
- Offer noteworthy news only: People pay attention to what interests them, not what interests you or your company. Press releases and announcements must be relevant and noteworthy to your audience. Publicity can quickly become spam if no one is interested in what you’re talking about. A new designation, associate promotion, charity involvement, or public event is newsworthy. A new wing in your office does not need to be published in the local paper (but could be great for you to share in a client newsletter).
- Include additional material: An announcement is great, but when was the last time anyone felt compelled to read through a long and wordy statement that didn’t have accompanying pictures or an interesting video? If you’re going to announce something, have appealing visual media to support it, especially if you’re doing it in print or on the internet. If it is hard to visualize what you’re talking about, make sure you help readers do so any way you can.
- Involve yourself: Communication isn’t just about talking at people and hoping they care – it’s about being a person that can also listen to others and be respected in return. Part of that is being present in the relevant community. Participate in events or involve yourself and your firm in community events. Most people will say that it’s a transparent effort to get on the good side of your clients. They’d be right, and it is a worthwhile effort that works.
- Know your contact: News is better promoted when more people are talking about it – so build a relationship with a journalist or editor at your local newspaper. If you keep going to them with noteworthy news, eventually they’ll start coming to you to check if there’s anything they can report.
- Track the results: Whatever you’re doing, if you’re doing it right, you will have results – positive and negative. After any press release or public relations campaign, check your numbers. If you have more people buying, “liking” you – or the opposite, then you’ll know whether or not to do that again or to call it an effective public relations strategy.
PR can be a bit tricky to execute, but with these five useful tips, you will ensure that your campaigns are productive and positive.