PR Can Help You Jump The Social Distancing Hurdles

By Nick Vecore

The COVID-19 pandemic has drastically changed the way financial professionals conduct their day-to-day business.

Simple face-to-face meetings have turned into virtual appointments. Seminars and dinner conferences have shifted to webinars. Reaching new prospects and gaining trust has become increasingly difficult, if not nearly impossible.

Although this new world may not be easy to navigate, unexpected challenges open up new opportunities. If the COVID-19 pandemic has taught you anything it’s that you should take the opportunity to use public relations.

Public relations can help you jump the hurdles that the pandemic

put in front of them. Not only can public relations help increase your credibility and allow you to stay ahead of your competition, it can also act as a lead source and give you the opportunity to reach your audience without the hassle of technology.

Increases Credibility

When the pandemic began to affect the United States, many localities prohibited large groups of people from meeting indoors. This forced financial professionals to cancel their dinner seminars and quickly transition to webinars in order to reach prospects. Although webinars are a great way to connect with those in need, you may find it’s much more difficult to sell virtually through a computer screen.

Public relations, when used correctly, can be a powerful tool to build your credibility. Having your name, firm and expertise published in recognizable publications can act as a third-party endorsement.

According to a recent Local Consumer Review Survey, 90% of consumers used the internet to find a local business in the last year. Using public relations gives you the ability to encourage webinar attendees to search media pieces you’re featured in, either prior to or during a webinar. This will help limit the amount of time you spend selling yourself, leaving you with more time to cover the important financial-related material.

Keep Ahead Of Your Competition

Consumers have nearly endless options when it comes to seeking financial advice. According to the U.S. Bureau of Labor Statistics, there are more than 200,000 professionals who advise Americans on financial plans.

That’s not even including the family and friends that many typically turn to first for financial insight. In an industry that’s crowded by so-called “experts,” you can use public relations to prove to prospects and clients that you actually are one.

When you are constantly called upon to provide commentary as an expert on hot financial topics, you will stand out from your competition. If you’re not putting your name and business out to the public, it’s likely you’ll be just another professional in the financial advice arena. Financial professionals who are the go-to expert for journalists and reporters will become the well-known, trusted experts that the public will first turn to when they need financial advice.

Acts As A Lead Source

While newspapers may be becoming a thing of the past, more and more Americans are turning to the television and internet to get their news. According to Pew Research Center surveys and analyses, 41% of adults get their local news through television and 37% get it online.

Trusted, big-name news publications are just another resource many are using in order to learn how they can solve their financial problems. When your advice is seen in print or heard on the airwaves, it may prompt those in need to pick up the phone and make an appointment.

Articles or news segments that feature a financial professional can also be used as a way to heat up cold leads. Whether it’s a topic a cold lead is interested in discussing or the credibility they were looking for in a financial professional, these media placements may be just the thing that convinces a consumer to finally reach out.

Teach Your Audience

Virtual appointments and webinars can be difficult for many Americans to navigate, ultimately becoming unsuccessful and a waste of time for both you and your attendees. A webinar may run so poorly that you are unable to provide attendees with all the information you were planning on sharing.

In these situations, you can use public relations to pitch journalists topics you’re passionate about or even write full articles for publications your target audience is reading. If these topics or articles are published, it’s yet another way you can teach your audience through a medium with which they’re already familiar navigating.

How To Get Started With Public Relations

Public relations can be done through a public relations firm, independent marketing organization or even on your own. Working with a public relations firm can cost up to thousands of dollars each month. If you hire a firm, consider looking for one that specializes in financial services and has a strong reputation of getting its clients featured in the publications you wish to see your own name in.

Some IMOs give you the opportunity to participate in their own, in-house public relations program. You can often join these programs at little to no cost. You should be aware of the program’s successes and understand exactly what to expect when signing up.

Another way you can participate in public relations is to do it on your own. There are several ways to DIY public relations efforts, but you will likely find yourself struggling to have enough time in the day to run a business and follow up on leads while trying to make yourself available to journalists.

Ultimately, public relations involves several hours of behind-the-scenes work. Researching reporters, topics and individual news markets is something you should leave to a public relations specialist. Ideas and pitches must be crafted in a relevant, timely and accurate manner in order to catch a journalist’s eye. A public relations specialist can help take on all that work so you can focus on what you know best – insurance and finances. Public relations is certainly a team effort and when done correctly can help lift up a your business, especially during a pandemic.

Nick Vecore is a public relations executive at M&O Marketing in Southfield, Mich. Nick may be contacted at [email protected].