Financial services companies need to routinely keep current and potential clients alike in the know. Not only does sharing important information about your company build trust and credibility, but it also keeps you top of mind.
One of the most tried and true ways to disseminate this info is a well-written press release. But what kinds of news should you be sharing, and how can you use press releases to their maximum potential?
We have the scoop!
What Is a Press Release?
Most people have a good general idea of what a press release is. But strictly defined, a press release is an official statement your company issues to the media that lets people know about noteworthy happenings … in this case, happenings at your financial services firm.
Press releases are a great way to share updates and announcements with journalists, stakeholders and the general public. They can even be used to proactively respond to crises and rebuild trust should your company make a misstep.
What News Should a Financial Firm Announce?
Wondering what news is actually newsworthy? The answer will vary widely, but news that impacts your clients, investors and/or the industry at large are all fair game.
Here are some examples of what you should alert the media about:
- New product launches or service offerings: Are you introducing a new wealth management tool, a savings account with better interest rates, or a fintech innovation? New financial products, services and features are prime press release material.
- Company milestones or achievements: If you’ve recently reached an exciting milestone, hit a revenue target or celebrated a company anniversary, share a few words! These moments illustrate your firm’s success and stability and demonstrate to clients that your company won’t settle for the status quo.
- Awards or recognition: In a similar vein, if your financial firm been recognized with an industry award, accolade or positive rating, congratulations! That’s a huge win and a great opportunity to shine a spotlight on your firm’s expertise and commitment to excellence.
- Executive or leadership changes: If there’s a change in leadership — whether it’s a new CEO, CFO, or other key executive — communicate it through a press release. Your clients deserve to know who’s at the helm.
- Community engagement or corporate social responsibility (CSR) initiatives: If your firm is involved in charity work, sustainability efforts or other community initiatives, a press release can help highlight how your business is looking beyond profits to make the world a better place. Plenty of financial clients prioritize firms that show social responsibility and are committed to giving back.
- Crisis management or responses to market events: When the financial markets are volatile or there are major events affecting your industry (think market crash or regulatory change), issuing a press release can help demonstrate how your firm is responding. In times of uncertainty, transparency is crucial, and press releases help keep stakeholders informed.
- Market insights or industry trends: In many cases, press releases can be used to establish your firm as a thought leader. If you’ve conducted industry research, gathered data on market trends, or produced new insights or forecasts, sharing that knowledge through a press release positions your firm as a trusted source of information.
Quick Tips for Writing a Killer Financial Services Press Release
Now that you know what kind of news merits a press release, here are our five of our best quick tips for making sure your release stands out:
- Keep it newsworthy: Journalists aren’t interested in rehashed information or minor updates. Make sure the news is significant.
- Use clear language: Financial services can be complex, but your press release should be accessible. Avoid industry jargon and get to the point
- Craft a compelling headline: Your headline is the first thing journalists and readers will see. It should be catchy, informative and succinct.
- Include a strong quote: A quote from a key executive or expert in your firm adds credibility and gives your release a personal touch. It’s a chance to inject your company’s voice. And it saves journalists and other media members the hassle of having to solicit quotes from you for a story.
- Target the right media: Ensure your press release reaches the right audience. Identify journalists or outlets who specialize in finance and are likelier to cover your news.
Are You Ready to Stop the Presses?
Press releases help financial services firms build trust, keep their audience informed, and elevate their brand. Whether you’re launching a new service, announcing an industry award or responding to a crisis, press releases can help your company stand out to clients and the media alike!
Do you need help drafting your next press release? Mischa Communications has you covered! Let’s get people talking.
It seems like every other week, a business makes news for all the wrong reasons. A data breach here. A DE&I disaster there.
Some of these businesses overcome the fallout. But others publicly implode, while still others sneak away in the dark of night, never to be heard from again.
What’s the difference between a business that can survive a meltdown and one that can’t?
Crisis management.
Crisis Management in Marketing
In marketing, crisis management means taking steps to proactively shield your brand from controversy. It’s about putting plans in place to prevent and/or manage any number of disasters that could come your way.
For instance, how will you respond if a product needs to be recalled for safety concerns or a disgruntled ex-employee starts spilling company secrets?
You also want to take steps to prevent any potential crises. On the marketing side of things, that might mean a critical and embarrassing typo in a billboard, or having your social media accounts compromised.
A good crisis management plan:
- Puts processes and procedures in place for what to do before, during and after a crisis
- Prioritizes customers, employees and company stakeholders
- Protects your brand’s reputation
- Paves the way to a faster resolution and a smoother return to business as normal
Creating Your Crisis Management Plan
The first step to creating a successful crisis management plan is to brainstorm all the different crises your brand is most likely to face.
From there, you can begin to list out the effects of each individual crisis and how to best go about resolving them. Who will be involved? Who needs to be notified and in what order? When and how will you communicate with the public?
Since people tend to freeze in a crisis, so the more detailed your plan is, the better. It’s important to act quickly, and step-by-step instructions are the best way to ensure that can happen.
Once you’ve mapped all possible crises and resolutions, communicate your management plan to your team. Everyone needs to know what their individual role is in preventing, managing and recovering from a business crisis.
Remember to regularly revisit and review your crisis management plan, especially if you’ve needed to use it. Figuring out what worked and what didn’t allows you to create a better plan for the future.
Tips for Managing a Crisis
No crisis management plan is perfect, and you might very well find yourself in some hot water at one point or another. If you do, keep these tips in mind.
- Be the one to break the news. No one likes to admit that they made a mistake, but the likelihood of a crisis blowing over unnoticed is slim to none. Someone is going to break the story, and if that someone is you (or another respected face of the brand), that will look a lot better than if your clients and partners find out from another source.
- Work with the media. If the crisis is particularly newsworthy, you can bet that a reporter is going to sniff it out. If you have an existing relationship with that reporter, however, the angle might be a bit more favorable. A good relationship with the media can lead to better PR, even in tough times.
- Share the preventative steps you’re taking. The phrase “We’ll do better next time” probably won’t instill much confidence in your audience. Instead, share the concrete steps you’re taking to prevent another mistake.
- Offer a sincere apology. Even if your customers weren’t directly harmed by whatever transpired, a business crisis can break down the trust you’ve worked so hard to create. A sincere apology is a must.
No Business Is Crisis-Proof!
A crisis can happen to any business at any time. The way you proactively prepare for it and how you handle the fallout determines whether you’ll rise from the ashes or become the next PR nightmare.
A crisis management plan doesn’t ensure that nothing bad will happen, but it’s incredibly helpful when things go awry.
Are you having a business emergency? Let Mischa Communications be your first responders. Help is just a click away.
A press release is a great way to get your business some much-needed publicity. But it’s certainly not the only way.
Public relations (PR) focuses on managing how your audience sees your business. And while it’s often lumped in with advertising and marketing, it’s actually a different discipline.
This quote from marketing professional S. H. Simmons helps clarify:
“If a young man tells his date how handsome, smart and successful he is — that’s advertising. If the young man tells his date she’s intelligent, looks lovely, and is a great conversationalist, he’s saying the right things to the right person and that’s marketing. If someone else tells the young woman how handsome, smart and successful her date is — that’s PR.”
Good PR draws in business, boosts your brand’s reputation and helps you get those always-important customer referrals and word-of-mouth recommendations. But how do you create good PR beyond the typical press release?
We have a few ideas!
4 Great Tips for Alternative Public Relations Efforts
Host Events
Hosting live events allows you to see — and, perhaps more importantly, be seen. A good event will create a buzz, and a buzz attracts attention.
It could be a getting-to-know-you happy hour, a product release, a conference or trade show, or just an informal “stop by and meet the team” invite complete with hot dogs and burgers on the grill. Whatever it is, an event is a great way to mingle with your audience and create good PR for yourself.
Find a Cause
How many heartwarming stories about businesses giving back to their communities did you see on your local news this past holiday season? We’d guess several.
Each of those businesses received a huge dose of good PR just by collecting toys for less fortunate kids, serving a shift in a soup kitchen or hosting a food drive.
The holidays may be over, but there are plenty of causes and charities that still need support, now more than ever. Find one that aligns with your brand’s values and go all in. People will take notice.
Become a Sponsor
There is no shortage of local organizations looking for sponsorships. From your local Little League team to your high school marching band to your parks and recreation department, plenty of people are looking to reward your financial backing with some good, old-fashioned PR.
Don’t forget to show up for all those games, performances and ribbon-cuttings. Your face in the hometown crowd can only help cement your image as a team player and make you (and your brand, by proxy) a recognizable, approachable figure.
Make Friends With the Media
Sending out a press release every now and then is great. But why not try to connect with media on a personal level?
The fact is that you might not always have something worthy of a press release. But you might have an opinion you can share, some information you can contribute to a story in progress or a unique insight on your industry that the media might be interested in.
By creating relationships with your local media, you’ll be top of mind when they need a source for an industry-related story. That can be a much-needed PR boost between press releases!
Are Your Public Relations Efforts On Point?
The way your audience sees your brand dictates whether they do business with it or not. Public relations can cast you in a positive light. Don’t leave things to chance!
Do you need help maintaining your rep? Mischa Communications is your ticket to PR perfection! Get started today.