As we usher in 2024, it's a good time to reflect on the strategies and tactics that constitute successful Public Relations for financial services firms like fund administrators and asset managers.
At Material Impact, our recent internal review revealed impressive results: over 90% Tier 1 media coverage, an audience reach surpassing 26 million, and estimated article views topping 358 million, per client since inception almost three years ago. But what really goes into achieving such noteworthy coverage? Let’s delve into the strategies that underpin this success.
Understanding the Audience
Top-tier PR coverage begins with a deep understanding of the audience - both the journalistic audience and the people they write for. For financial services and especially for fund administration and asset management press, this means grasping the nuances of investor needs, market trends and regulatory landscapes. Tailoring content to speak directly to these points ensures relevance and engagement.
Crafting Compelling Narratives
The heart of PR is storytelling. In asset management, this could involve illustrating complex investment principles, in fund administration it could be about highlighting the impact of regulatory changes, more generally within financial services it could be showcasing expert knowledge. The key is to present a narrative in a way that resonates with the audience and stands out in a crowded market.
Building Relationships with Media
Top-tier coverage is impossible without strong relationships with key journalists and publications. Regularly engaging with the media, understanding their interests and providing them with valuable, timely information is appreciated. It's about being a reliable source for them.
Leveraging Data and Research
Financial services thrive on data. Utilizing robust research and data analytics to back up claims or providing fresh insights is a powerful way to capture media interest. This approach not only lends credibility but also positions our clients as thought leaders in their field.
Thought Leadership and Expert Commentary
Establishing our clients as experts is a cornerstone of our strategy. Whether it’s through ghost-written articles, research papers, or expert commentary, we ensure that our clients’ voices are prominent in discussions that matter to their clients and their industry.
Adapting to the Digital Landscape
In today’s digital world, PR is more than just print media. It encompasses online publications, social media and digital news platforms. Adapting our strategies to suit these varied mediums, while maintaining a consistent message, is more important than print. After all, as they say, yesterday's news is today's bird cage liner (or fish-and-chip wrapper as they say in the UK), whereas the internet is forever.
Creative and Targeted Campaigns
Our campaigns are not one-size-fits-all. They are creatively tailored, targeting specific publications and segments within the financial services sector. This targeted approach ensures maximum impact and relevance. It does take more effort to do this, but the results are worth it. In our experience, taking this approach can double the amount of media interest a story receives.
Measuring Success and Iterating
Finally, we continuously track our campaigns’ performance, bringing statistics in from Google Analytics and social media, to get a holistic view of how the media is shaping up engagement with our clients' websites.
There are more considerations, but these will stand most firms in good stead. I hope you agree that Material Impact's journey thus far underscores a commitment to not only keeping pace with industry changes but also setting new benchmarks for excellence. The future is bright and we are poised to continue delivering exceptional results for our clients in the financial sector.
Comments