It is important for financial advisors, or any brand for that matter, to set clear goals before investing an ounce of time or money into a PR campaign.
Some firms just want to pursue a “bucket list” strategy – meaning they want placements in a handful of desired outlets over a short-term campaign, usually so they can include them in an “As Featured In” banner on their website or in other marketing materials. So for them, obtaining those media placements is the goal, and it’s how they measure the success of their efforts.
Others, however, have more comprehensive goals likes increasing monthly website traffic, higher search rankings, lead generation, improved conversion ratios and an overall increase in sales. In those cases, they want earned media to serve as a means to a desired goal, rather than the goal itself.
For the more comprehensive campaigns, it’s important to set clear and realistic expectations. For many advisors, being quoted in the paper will rarely, if ever, directly produce a sale. If that is your expectation, then you are going to be disappointed, and you will be better served exploring other business development options.
If, however, you understand the value of earning and leveraging third-party credibility, and you have a clear vision of its role in your greater marketing and sales efforts, then public relations can serve as a catalyst for long-term growth and success for your practice.
Want to learn more? Download Turning Press Into Profits: A PR Guide For Professional Services Firms today!
Brian Hart is and award-winning financial communications consultant and founder of Flackable, a national public relations and digital marketing agency headquartered in Philadelphia. Learn more at www.flackable.com. Follow Brian on Twitter at @BrianHartPR.