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In the dynamic world of financial services, establishing authority and credibility is crucial for professionals looking to stand out and drive growth. To shed light on the power of public relations (PR) and earned media and how it can play in to an effective marketing plan, a panel of experts gathered in Chicago at the Social/Digital Hub during the 2023 Morningstar Conference. This blog post will summarize the key takeaways from the discussion led by Jonny Swift of Impact Communications. He is joined by freelance journalist Roger Wohlner, media rockstar Shana Sissel, and PR professional Marie Swift.
Authenticity and Tailoring to the Audience
One of the primary themes discussed was the importance of authenticity in building credibility. Shana Sissel shared her experience as a sought-after media expert, emphasizing the value of being genuine and staying true to your brand. Roger Wohlner, with his background as a writer and financial advisor, highlighted the significance of understanding your audience and adapting your communication style accordingly. Handling Off-Topic Questions and Being Prepared The conversation also touched on the challenges of handling off-topic questions during interviews. The speakers stressed the importance of being prepared for various media settings and having a clear understanding of the messages you want to convey. They shared stories of individuals who either alienated or endeared themselves to journalists based on their responses in interviews. The Role of PR Pros in Managing Media Opportunities Marie Swift, a PR agent for and consultant to some of the best and brightest in the financial services industry, emphasized the crucial role of skilled PR professionals when it comes to managing media opportunities. She emphasized the importance of timeliness, consistency, and authenticity in establishing credibility and getting rebooked. She shared how the “read and feed method" works and can be a great way to endear oneself to the media but stressed that whoever is doing the pitching must know the audience, the publication, and the journalist, so that they can provide relevant sources and topics for media storylines. The Credibility Boost You Get from Third-Party Media Outlets Being featured in third-party media outlets was highlighted as a significant SEO (think online visibility) and credibility (think “wow factor”) booster. When readers see financial professionals featured in respected publications, they perceive them as knowledgeable and trustworthy. The panel suggested that advisors should focus on getting exposure (a) on topics for which they want to be known (b) in media outlets that cater to their target audience. Good media exposure not only builds trust with current and potential clients but also has a positive impact on search engine optimization (SEO). When advisors are featured in credible sources, it enhances their online presence and boosts search engine page rankings (SEPR). Jonny Swift emphasized the importance of linking to and from reputable websites as a way to create a “spider web” of discoverability. 2-Minute Video Excerpt: The Halo Effect and Backlinking
Measuring PR Success
Measuring the success of PR efforts was discussed, with metrics such as backlinking, social media engagement, website traffic, lead magnet downloads, additional media inquiries, and views on platforms such as Vimeo and YouTube highlighted. However, the panel acknowledged that measuring PR impact can be subjective and also relies on soft measurements like reputation and recognition over time. Earned media attention is seen as 3-5 times more valuable than paid placements and advertisement strategies due to the “halo effect.” You can’t buy a good reputation: you must work at it daily, telling your story in a passionate, compelling way, providing authoritative insights, and becoming a thought leader over time. Challenges and Strategies for Broadcast Television The discussion also delved into the challenges and strategies for getting booked on broadcast television. The panel shared insights into navigating compliance issues when dealing with media outlets and stressed the importance of being authentic in bylined article writing to maintain credibility. The safety and compliance aspects of written content were highlighted. Running written content through compliance departments before publication was seen as a crucial step to ensure regulatory compliance and mitigate risks. Live broadcast interviews and other “on the record” in-person or virtual conversations must be mastered over time. The importance of media training and having a good PR team supporting you cannot be stressed enough. Earned Media is Just One Piece of the Puzzle The power of earned media attention and thought leadership in establishing authority within the financial industry cannot be overstated. This insightful discussion during the 2023 Morningstar Conference shed light on the importance of authenticity, tailoring messages to the audience, managing media opportunities through a professional PR team, and leveraging third-party “media hits” to enhance credibility. Financial professionals can utilize these strategies to build trust, stand out, and drive growth. Impact Communications has long embraced “The P.E.S.O. Model” as a way to build brands and enhance reputations. For a primer on how Paid, Shared, Earned, and Owned strategies work together to create what may seem like a magical mix of effortless, right-fit business, click the button below. 
Click to watch the full 30 minute panel discussion:Comments are closed.
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