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Everyone knows that publicity is wonderful when you can get it. But far too many advisors think there is some sort of magic "mojo" needed to get their name in print or be interviewed by the broadcast media.
Sure, you could hire a PR firm, and it's likely their professional insights and connections could make a difference in your "Credibility Marketing" campaign. The problem is, many advisors are working on shoestring budgets and they'd rather invest their own (or their staff's) time and effort to get the word out.
The truth is, all advisors need to employ Credibility Marketing tactics as a part of their overall business development strategy. But don't let big name consultants and PR firms tell you that you have to put them on your payroll to get results.
The magic, my friend, lies in you.
For the past six years, I've been telling advisors just how to work the PR wheels. And I can tell you one success story after another. True, they had some good advice, a good "hook," and a healthy dose of enthusiasm for pursuing the opportunities that would lead to good publicity and help them build their business.
You can do it, too.
If you'd rather do-it-yourself or can't afford to hire a PR firm, this public relations primer and related future articles will show you how. And if you're going to hire a PR firm, reading this series will help you understand how to get more mileage out of your working relationship--and your PR dollar.
Credibility Marketing at Its Best
The benefits of pursuing a public relations strategy can be enormous. Elizabeth Potts Weinstein, an independent advisor and owner of Potts Weinstein Financial Consulting in San Jose, Calif., experienced immediate results after sending out her "Open for Business" press kit.
"I prepared a carefully thought-out press kit and sent it off to a handful of local journalists. Frankly, I was a bit surprised when a reporter from the San Jose Mercury News e-mailed me a few weeks after receiving my packet," she says. "Turns out I'd positioned my new business well enough that it caught their eye. They wanted to profile my firm in the business section, and I was delighted to agree."
The result was an article that Elizabeth is now able to use in communications to prospective clients, strategic allies, and press partners. But the best part is Elizabeth received over two-dozen inquiries from prospective clients. And that was in the first two weeks alone.
The trickle-in effect continues to add to the tally. At the two-month mark, she had scheduled 33 prospective client meetings that were directly attributable to the article, with 13 of those already resulting in completed engagements. "If I could only clone myself, I'd be able to get these people in quicker and secure even more engagements," she chuckles. "As it is, I have a waiting list."
Even now, 10 weeks later, Elizabeth reports that she continues to receive two or three inquiries a week from prospective clients who mention the article. And that, of course, is one of the beauties of print media--long shelf life on top of implied credibility (more about that in my next article, which will provide tips on how you can get your name in print).
How did Elizabeth know what to do and how to present herself? "Other advisors have been asking me just that," she replies. "Fortunately, I was able to attend a course on how to work with the media through one of the networks in which I'm a member. The professional who delivered the media training helped me see how to best position myself. That coaching made a world of difference both in my materials and my confidence level. Now that I've experienced this first taste of success, I'm eager to implement the other ideas I learned."
PR Does Not Stand for Press Release
Before giving you additional tips and techniques to jumpstart your Credibility Marketing campaign, it's important for you to understand just what publicity is, and isn't.
Public relations is a strategic form of communication used to obtain positive exposure for your company and keep key media contacts and the public informed. It's news releases, feature stories, interviews, articles with your by-line in targeted publications, speaking engagements, newsletters, Web sites and e-mail campaigns, product and service launches, public service announcements, and community events. It involves developing a key message that differentiates you from your competition and selecting the mix of tactics that will get your message to the marketplace with the most impact.
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