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Money Matters: 3 Ways Financial Services Companies Can Benefit from PR

March 4, 2019 Jeff Bradford

We use money every day, but how often are we really thinking about our bank, financial planner or accountant? While many people don’t give much thought to these resources daily, they are essential to our livelihood, which means competition for business is fierce. Since financial services companies are appealing to audiences of every demographic and life stage, it’s important that they provide value to their audiences in three specific ways in order to recruit new business and retain loyal customers.  

1. Establish Reputation:

When you think about your bank, what comes to mind? Their logo, motto, commercial on television or positive contribution that they made to the community? Public relations – such as press releases distributed to local newspapers and financial executive expert segments on local television or radio stations – is the means by which companies are able to build and bolster their reputation. Through making an intentional effort to be present in the media, you will be able to be credibly presented to potential new clients and continue to solidify your company’s local, regional and national reputation.

2. Merge generational market gaps:

People who are seeking financial services range from those preparing for retirement to those opening their first bank account. Baby boomers and Millennials will have differing viewpoints on finances and different needs and expectations. The goal of financial services public relations efforts is to show how the financial services company can meet someone’s expected and unexpected needs, no matter their age or situation. Do you have an active presence on LinkedIn or Facebook in order to target ages 40 to 65? Could you be guest posting on Millennial-focused websites with tips on paying off student loan debt or instructions on how to build an emergency savings account? Knowing your diverse audience and where to reach them is a key factor in making sure your company is staying relevant and top-of-mind to those who will use your services.

3. Educate:

Finances can be confusing, but consumers want to be educated – they just don’t know where to start. In order for your audience to use your financial services, they first need to be aware of what is best for them, what they are using and how it will benefit them. Creating awareness not only applies to your brand but also to the services that you provide. You can have a strong reputation associated with your company but that means nothing if your audience is not educated and able to understand the basics. Through using digital content such as educational blogs and infographics on social media, you can educate and create a beneficial relationship with your audience that will allow them to increase their knowledge of finances and be better equipped to make smart financial decisions.

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