How to develop an effective PR strategy in the fintech industry
Fintech is a large, and highly important, industry in the UK. With fears around Brexit and the possible fallout, many might be focussing on damage limitation rather than looking to improve on their current position. However, PR is something that no business can ever be complacent with.
The changing landscape of the Brexit process, combined with the developments in the fintech world, is providing news opportunities too good to miss.
Since we’re at the end of January, around the time that most people tend to give up on their New Year’s resolutions, here is a quick run down for how to make sure you keep up with PR for your fintech business this year.
1) Understand Your Target Audience:
If you know the types of clients you are aiming for, it’s likely that you will be able to work out which publications they will pay most attention to.
In the fintech space there are a number of different areas, from mobile payments to alternative finance, and there are publications that specialise in certain areas too.
If you are struggling to find your ideal clients, a buyer persona will help you plug the gaps.
2) Work Out Which Journalists To Target:
If you know which publications your potential clients are reading or watching you can now start making a list of the journalists that write for them. Remember that journalists do move a lot, so you need to make sure you keep this list updated.
3) Look For Important News and Events In The Fintech Industry:
With Brexit providing uncertainty for huge parts of the economy, column inches will be covering the process as it unfolds. If you know the key dates when things are due to be released, and you are available to post and add additional comments, you will soon build up a rapport with many of the journalists in your sector.
Likewise with government data, fintech news and economic results you can capitalise on the news that’s already out there, or about to be released, by posting your comments and thoughts on what’s happening.
Many fintech businesses, like a lot of other small businesses, do not have the time to look for the news in their industry as well as manage their PR, so JournoLink’s PR calendar tool gives you some helpful hints and tips about what news is about to be released.
4) Work Out How You Will Distribute Your News:
Lots of small businesses will know of some journalists in their sector, but the vast majority won't have a relationship with them.
Most think it’s just a case of emailing the journalist with your story, but it’s so much more.
You need to build the rapport with them, or you can outsource your PR to someone who already does.
Traditional PR companies will have one-on-one relationships with journalists, so will be able to call in favours or leverage these in order to get coverage for you.
You can also read ou blog explaining how to build a relationship with journalists for more tips.
But that all comes at a price.
In today’s world small businesses, particularly in the fintech world, are keen to invest in technological developments and their social media strategy, and whilst PR is a part of the marketing mix there is only usually a small budget allocated to it.
Solutions such as JournoLink offer a platform for you to send your press releases to journalists, with the added benefits of being able to target your release by sector, and having access to a PR calendar giving you hints and tips on how to improve your coverage.
For more information about how your small business could join more than 3000 others already starting to benefit from the JournoLink platform and to sign up for our PR hints and tips, click here now.
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Written by: Ben Caine, Copy and Content Writer
As a former journalist, Ben helps businesses using JournoLink to write their content, including press releases.