Considering that the average per-person debt in the U.S. is north of $105,000, there’s certainly a need for good financial advisors to help people learn and adopt better financial habits.
While word-of-mouth marketing is the most effective kind of marketing, that doesn’t mean financial advisors can solely rely on recommendations to find the people who need them most.
Customers are smarter, more educated, and more likely to seek out a planner online first before even making a phone call to arrange a meeting. Enter public relations.
Well-planned PR campaigns can position investment professionals as go-to types who people flock to.
Here are three ways financial advisors can use PR firms to drum up more business.
1. Position Yourself as an Industry Expert Through Media Coverage
One of the most powerful PR strategies is securing media coverage in reputable publications. Being quoted in a newspaper, featured in a financial magazine, or interviewed on a podcast lends credibility that traditional advertising can’t match.
If you’re a financial advisor looking to benefit from media coverage, a PR firm can do the following:
- Create a list of target outlets — local papers, industry newsletters, financial blogs, and business podcasts.
- Supply reporters with timely analysis of topics such as market trends, retirement planning, tax planning, or inflation concerns — and recommend your expertise if they want more details.
- Respond quickly to requests for expert commentary, such as from services like Qwoted, and ensure you connect with the right people.
When potential clients see you featured in reputable publications, they’ll see you as more credible and seek out your expertise.
2. Develop Thought Leadership Content to Establish Credibility
Media coverage is great, but don’t sit around and wait for reporters to call you. A PR firm can help you take ownership of your message through writing and publishing thought leadership articles. It can get them published in business and financial newspapers, on blogs, and on social media.
The most important thing is to deliver informative content, not pitches. Well-written, properly researched pieces that answer questions people have will position you as the go-to expert for such guidance.
A PR firm can help you build a plan to earn thought leader status organically.
3. Build Connections with Journalists and Influencers for Long-Term Visibility
A good PR firm will develop a long-term strategy to build a strong professional rapport with journalists, editors, bloggers, and influencers. Instead of contacting them only when sending press releases, a PR firm will stay in touch in various ways.
It will send short notes with observations about the market. It will provide background context for financial topics — and it will mention your availability for expert commentary.
By becoming the one that sources call for good information on money management, budgeting, investing, and more, a PR firm will get you named in articles without having to pitch your availability all the time.
Why PR Works for Financial Advisors
The financial services industry is founded on credibility, trust, and relationships — and a PR company will help you check the boxes.
Good PR will set you apart from your competitors, generate name recognition in your target market, and position you as a thought leader who understands the needs of consumers seeking financial help.
The greatest thing about PR is that it snowballs. One article may lead to another, and an appearance on a podcast may win you multiple clients.
For financial advisors, PR is an opportunity to expand. By pursuing media coverage, thought leadership, public speaking, journalist relationships, and more, you can create a steady stream of leads and build a solid professional reputation.
In a business where trust takes years to develop but seconds to lose, you’ll get further ahead by partnering with a PR agency. You can get ahead and stay ahead.
