The ability to capture attention and build credibility is crucial for success. While press releases distributed through wire services have their place in a media strategy, relying solely on them might not be enough to move your fintech forward and position your brand as a true expert. Ultimately, if you’re only seeing pick-ups from wire services and lacking substantial earned media coverage in reputable publications, it could be a sign that your media strategy needs adjustment.
Here’s why it’s essential for fintechs to diversify their media strategy and seek out earned media coverage:
1. Building Trust and Credibility
Earned media, such as features in reputable financial publications or interviews with industry experts, carry significant weight in building trust and credibility with your target audience. Unlike press releases, which are seen as promotional materials, earned media coverage is perceived as impartial and authentic endorsements of your company and its offerings. This third-party validation can help instill confidence in potential investors, partners, and customers.
2. Reaching a Wider Audience
While wire services can help disseminate your news to a broad audience, they often lack the targeted reach and engagement that earned media can offer. Securing coverage in niche financial publications or being featured in industry-specific articles allows you to reach a more qualified audience who are actively interested in fintech innovations. By diversifying your media strategy, you can tap into new audiences and expand your brand’s visibility within your target market.
3. Generating Meaningful Conversations
Earned media coverage tends to spark conversations and discussions within the industry, fostering greater awareness and interest in your fintech solutions. Unlike press releases, which may get lost in the sea of corporate announcements, a well-crafted article or feature story has the potential to resonate with readers on a deeper level, prompting them to engage with your company and its offerings. These conversations can lead to valuable networking opportunities, partnerships, and even organic growth through word-of-mouth recommendations.
4. Enhancing SEO and Online Presence
In today’s digital age, having a strong online presence is essential for fintechs looking to attract customers and investors. Earned media coverage can significantly boost your search engine optimization (SEO) efforts by generating high-quality backlinks to your website from reputable sources. This not only improves your website’s visibility in search engine results but also enhances its credibility in the eyes of search engines and potential visitors.
5. Differentiating Your Brand
In a crowded market, differentiation is key to standing out from the competition. While press releases may help announce new product launches or company milestones, they often fail to convey the unique value proposition that sets your fintech apart. Earned media coverage provides an opportunity to showcase your company’s vision, expertise, and thought leadership, allowing you to position yourself as a trusted authority in your field.
Adjusting Your Media Strategy
If your fintech is primarily relying on press releases distributed through wire services and not seeing significant coverage in trusted publications, it may be time to reassess your media strategy. Consider the following steps to enhance your media presence:
1. Identify Target Publications
Research and identify relevant financial publications and reporters that align with your target audience and messaging.
If you’re targeting bankers, you should be focused on publications like American Banker, ABA Banking Journal, BAI Banking Strategies, Bank News and BankBeat, Independent Banker, and others.
Targeting credit unions? Then focus on Credit Union Times, CU Management Magazine, Finopotamus, and others.
Trying to get in front of mortgage lenders and servicers? You should prioritize publications like National Mortgage News, MBA Newslink, HousingWire, Progress in Lending, and others.
2. Build Relationships
Invest time in building relationships with journalists, bloggers, and editors who cover fintech topics. Engage with them on social media, share valuable insights, and offer to provide expert commentary on relevant industry trends.
Even more important, engage with them without expecting something in return. If you make yourself available to provide helpful insight into breaking news or help explain new concepts, you build a lasting relationship that extends beyond one article.
3. Create Compelling Content
Remember, it is critical to develop compelling story angles and thought leadership pieces that showcase your fintech’s unique value proposition and industry insights.
Also, remember that unlike a press release, you cannot “sell” your solutions. Avoid marketing language and remember that there is a difference between editorials and advertorials. You should focus on the reader – the bank or credit union in need of a certain solution to address a certain pain point.
And consider how you can incorporate an FI’s story, not necessarily yours. This will make your company more attractive to journalists and increase the likelihood of earning media coverage.
While press releases through wire services have their place in fintech, they should not be the sole focus of your media strategy. By diversifying your approach and actively pursuing earned media coverage, you can enhance your company’s credibility, reach a wider audience, generate meaningful conversations, and differentiate your brand in a competitive market.
Want to learn more about how to create compelling content that positions your fintech as a thought-leader? Check out our recent post for more.