The word “media” is rarely spoken these days without the word “social” in front of it, but before the term became synonymous with Facebook and Twitter, “media relations” was (and still is) a wonderful way to brand yourself as an expert in your specialty. The best part is that you probably already have the skills to be good at media relations, even if you don’t realize it just yet.
Where Does Media Relations Fit?
It’s important to understand the objective of media relations to ensure that you approach it properly. Media relations is not about sales — media relations is about credibility and expertise, all of which is inferred from being quoted in an article or being published as an author.
Most financial professionals start their media campaigns thinking that the ideal article is one that they can use as a sales tool; that the perfect article is one that gives a client all the reasons why they should purchase something. The truth is, not only will you have difficulty finding an editor willing to publish such a piece, but you’ll also find that no one wants to read an ad disguised as an article. So, very rarely will media exposure be usable as a direct sales tool, but if done properly, it can always be used to boost your credibility and establish you as an expert.
Where to Publish?
I have had the good fortune to appear in a wide variety of media outlets ranging from regular appearances as the consumer finance guest expert on the local TV news to being quoted in print outlets such as the Wall Street Journal and Kiplinger. Although those outlets are great, there also are papers and magazines that are significantly easier to appear in, and they will have a very similar impact. The two best media outlets to start with are our industry publications and your local weekly newspaper. I have written a number of articles recently on publishing in our trade journals, so I will focus this article on the benefits and approach to being published in your local papers.
Why Weeklies?
I love weekly publications, and given the consolidation in the newspaper industry, weeklies will likely be one of the few papers to survive. Most cities have them, and everybody reads these papers. They offer great high school sports coverage, the letters to the editor give you the pulse of the city, and you know everyone in the paper. They’re good places to be quoted, as you’re reaching the “right” public. Most financial professionals think that a bigger audience is better. But from my perspective, a more targeted audience is better. I want to work in the community in which I live, but that may not be true for everyone. If you want to upgrade your market, find a weekly in a neighboring community where you do want to work.
Where to Start
Usually small local papers are looking for “human interest” stories; that is, a feature story about someone in the community who did something interesting or impressive. Examples of what might be a great human-interest story could be climbing Mt. Everest, or even being the top agent in your company. Typically, you can use a press release to pitch this type of story. You can get help creating your press release from your primary company or broker/dealer’s PR department, or MS Word has press release templates you can use. Once written, you send a press release to the “news desk” or equivalent department as identified on the masthead (the page listing the paper’s staff, department titles and contact info).
Media Relations Is a Relationship Business
Your clients don’t usually buy at the first meeting and neither will an editor. It takes time to build relationships, and a reporter or editor isn’t going stake his or her reputation on a single contact with a “salesperson.” So you need to be patient. Before you offer to write a story, you need to read your weekly and become familiar with the reporters and editors. Call them up and introduce yourself, take them to coffee, and respond to reporters on their stories. And remember, when you respond to a reporter, be nice! Typically, people who take the time to write to reporters are irritated. Be different, and you will be remembered. And don’t overlook the obvious — you are probably in the same Rotary with the publisher of your weekly.
A Column
If you would like your name to appear in print more than just occasionally, another way to get in the paper is to write a column. Small local papers are often looking for informative, balanced 600-word articles. Be creative: general consumer finance is more interesting than insurance. If it’s a weekly, you need to pre-write about five or six columns (editors are worried about starting something and then having it fall through) and have ideas penned for the rest of the year. Generally, weeklies will only run a specific column once per month, but that may differ in your community.
Writing a column is A LOT of work. There are additional compliance requirements because it is “consumer facing” and often contains advice, so you really need to be committed to the compliance process if you are going to pursue this.
If you do decide to do it, talk about financial problems and how to solve them — not just the benefits of various products. Please check with your compliance departments to make sure you can do this. Often, large companies have “by-lined” pre-written, preapproved articles. I think of these as a boxed cake mix. It’s a little bland “as is,” but it has promise. Take one of these articles, tie it to what’s happening in the local business community or economy, and rewrite it. Then send it back to compliance for approval before submitting it to the local paper.
Mining Data for Stories
Another way to be part of a story is to present data to reporters or an editor on which they can base a story. We often read interesting survey data in our business. Think about how it applies to your local community. For instance, I read a survey that showed that employees’ cost of health insurance has doubled in the last 10 years and wages have stayed relatively flat. You could write an article about what employers are doing in your community to mitigate these increases. The stories should be general in nature and the answers to the questions need to be valuable to the readers. Readers appreciate that the paper they purchased provides interesting and valuable information to them, so keep this in mind when you are thinking of story ideas. Also, when mining data, remember that attribution is not enough; you must get permission to reprint the table or data you are using. Usually, you will get it.
Volunteerism
Don’t overlook using the media as a way to get your volunteer work recognized. Now, you might ask, “Why does my volunteer work brand me as a better insurance agent?” For me, it’s because I want to be known as a caring person. Not all press is good press, but all good press is good press. A lot of us have a hard time promoting ourselves because throughout our lives we are taught not to be egotistical or self-serving. Using your volunteer work in the press is an easy way to get your name in the paper without feeling like you are bragging.
Compliance
Finally, please keep in mind that everything discussed here is subject to compliance approval — in both the insurance and investment departments — so you need to make compliance “your partner” on your new media relations activities.
Related posts:
