As a financial professional, your calendar is probably packed with prospecting appointments, client meetings, and lots of number-crunching and paper shuffling.
With such a hectic schedule, how can you possibly find time to devise an effective media relations and marketing strategy for your business? Fortunately, Joseph Finora comes to the rescue with his book, "Media Relations and Creative Marketing Tips for Financial Professionals" (Joseph Finora, 2007).
"Most financial professionals don't have the time or inclination to immerse themselves in a full-range media and marketing strategy," he writes in the book's introduction. "With the information on the following pages, you'll be able to launch a basic marketing and media-relations strategy yourself or intelligently talk about one with an outside professional you may consider hiring."
Finora, a media relations professional with more than 20 years' experience, more than delivers on this promise. In his book, Finora serves up several strategies for any financial professional looking to grow their business through a dynamic marketing and media relations plan. Following are a few of the tips he offers.
Stay the course
While it may be tempting to focus on your marketing and communications strategy only when business is slow, Finora says this is a serious no-no. "When business is up, marketing and media relations tend to take on a less important role than they do when times are tough," he points out. "It's a mistake to lighten up on your strategy just because business is brisk. Everything changes."
As with every other aspect of your business, you have to stay ahead of the curve when it comes to marketing and media relations. That way, you'll be prepared when the economy takes a dive.
"The smart marketers keep the program running all the time so when a recession hits, they're ready. Nothing forces people to re-examine their holdings faster than a few quarters of negative returns, which is why all the pieces of your media-relations and marketing strategy need to be operating all the time."
Press the issue
If your marketing strategy consists of nothing more than radio or print advertising, Finora says that you are ignoring one of the easiest and cheapest modes of self-promotion in marketing history: the beloved press release. "A press release is a brief description of a person, product or service your business is offering that is sent to appropriate media outlets as a possible news item," he explains.
However, Finora warns not to treat a press release as a form of advertising. Unlike an ad, the purpose of a press release is to generate curiosity and increase awareness of your business through the media. If things pan out, it could eventually lead to more clients for you.
Go on the record
Speaking with reporters is another effective way to get your name in the spotlight. You should take every opportunity to speak with the media, whether they are calling about a press release you distributed or asking for your expertise for a piece they are writing.
If you know a reporter is on the phone, take the call as soon as possible. "Remember, the reporter still does not know you and he or she may call another contact should you not be available," he says. If you happen to be out of the office when a reporter calls, Finora advises calling them back as soon as possible. "Time is of the essence with reporters. Make time to return the call and be sure you do when you say you will."
Also, Finora stresses that you should choose your words wisely when speaking with a reporter. "Once a person identifies himself as a 'reporter,' you must operate with the idea that anything you say may appear in print. You're 'on the record,' unless otherwise stated. This includes not only your name and affiliation but any comments you make, even the spontaneous joke or casual observation."
"The truth is there are plenty of books in circulation about marketing and media relations and lots of courses available that anyone could take," Finora writes. "The problem is that most of these books and courses either don't cater to the special needs of financial professionals or are simply too big and complicated to meet the basic media-relations needs."
Amy Bell is a freelance writer and frequent contributor to the Agent's Sales Journal. Visit her Web site at www.writepunch.com or email her at amy@writepunch.com. "Media Relations and Creative Marketing Tips for Financial Professionals" is available at www.josephfinora.com.
