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A common reason most advisors don't harness the incredible power of public relations' media outreach is that they don't know where to start. The truth is, it's really not that complicated. Here are 10 tips to generate positive PR for yourself in the coming year.
1. Know your target market
Advisors who focus on a specific niche can better position themselves as experts. It's hard to be all things to all people, neither is it the best PR strategy.
"If there's a social group or type of financial situation, such as helping divorcees, that you're an expert in, the media will pick you out of the pack of 100,000 advisors," says Mark Schoenbeck, chief marketing officer of Genworth Financial. "A reporter never calls us saying, 'Can you connect me with a generic advisor?' They often are looking for a specific type of advisor. The more specific you can be about the people you serve, the better."
2. Research where to be
Know what your ideal clients are reading, listening to and watching. Simply asking your clients about their favorite news sources can prove incredibly valuable and serve as the basis for your PR strategy. "There are a lot of publications and TV programs out there," says Victoria Woods, CEO of ChappelWood Financial Services. "It is simple to Google and get that information."
3. Write articles
By writing articles, you are demonstrating your expertise. Even if the article isn't picked up, you're proving that you can be a source for future coverage on that particular topic.
Look to partner with a strategic alliance such as a lawyer or accountant and co-write an article. Through extra connections and combined credibility, this potentially doubles your chances of being published.
4. Start small
Local newspapers with tight budgets often need content, especially from a local source. This coverage may not confer the highest credibility on you, but it does help get your name better known in your region.
Industry magazines are another great starting point. Even if these publications are not what your ideal clients are reading, this does two things: It delivers credibility by helping to build a list of appearances or articles you can put on your website; and it shows other outlets that you are already vetted, so they'll be more confident using you as a future source. Advisors using this PR strategy will see that the coverage will begin to snowball over time.
5. Build relationships
The press needs great sources, but they get a lot of junk email. They are also often working on tight deadlines. With those obstacles, it can be hard for any advisor to break through the noise and make a connection. One simple way to do this is to send a complimentary note. If anything, members of the press are used to negative responses, so a quick I-loved-your-article email can stand out.
Another approach is to write a note highlighting something they recently produced, stating, "Great topic! If you ever cover it again, please feel free to reach out to me as a source."
One of the best approaches is to just pick up the phone and make a call. When you get through to the journalist, be prepared to sell yourself and your news idea(s) in two minutes, as that is likely all the time you will get.
6. Be newsworthy
A journalist looking for a quote is often looking to cover two sides of a coin: the pros and the cons. If you stand on neutral ground, you are less likely to be included. So have an opinion. With that said, avoid making a false statement, as you do not want to be published on a point that you don't feel strongly about.
"The press needs opinions, so say what is on your mind-something worth quoting," says Sheryl Garrett, founder of The Garrett Planning Network, a group of advisors who charge hourly rates. Kim Dellarocca, director of global marketing at Pershing, reiterates the importance of "having a compelling story." She recommends, "If you are talking on a subject, have three points you want to make and be able to clarify the issue, if needed."
7. Strategically use press releases
Although the spray-and-pray approach seems less and less successful, there's still a time and place to use it. If there's something worth sharing with several outlets at once, consider press releases. Keep it to the point and make sure you use a header that is an attention grabber or it might never be read.
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