Public relations (PR) is a contact sport, and the importance of making each play as effective as possible cannot be overstated. For financial firms, including registered investment advisors (RIAs), insurance companies, asset managers, and others, the ability to amplify their earned media through social platforms is a crucial component of a strong playbook. With the right strategies in place, social media can significantly enhance a firm’s visibility, credibility, and ultimately, its bottom line.
Amplifying Earned Media
When it comes to earned media in public relations, earned is the key word. It can be defined as any material in the media that is written about a firm, or produced by one of the firm’s experts, that is not paid for but rather achieved via impartial third-party validation. Understandably, this kind of content is a valuable asset for financial firms, helping them to establish credibility and trust in the industry.
However, relying solely on traditional PR tactics to disseminate earned media means missing out on low-hanging opportunities to further amplify your firm’s brand. This is where social media comes into play. Platforms like LinkedIn, X (Twitter), Instagram and others offer financial firms a direct line of communication with their target audience, allowing them to circulate their earned media in real-time on a greater scale. To maximize the “juice” from a single PR placement, firms should lean into social media, in some instances creating longer-term campaigns around particularly impactful coverage.
Engaging with Key Audiences
Social media provides financial firms with a unique opportunity to engage directly with their audience, participating in meaningful conversations about topics that correlate directly to the firm’s brand. By repurposing earned media coverage through social posts, such as sharing past press releases, thought leadership articles or evergreen commentary, firms can showcase their expertise and thought leadership in the industry. Moreover, engaging with followers through comments, likes and shares humanizes the brand and fosters a sense of community and trust.
Targeted Messaging
Earned media can reach a broad audience through third-party outlets, but social media allows firms to customize how they present content based on who they’re trying to reach. Whether it’s addressing the concerns of retirees, providing insights for first-time investors, or offering advice on estate planning, targeted messaging helps ensure that the right content reaches the right people. This personalized approach not only enhances the firm’s relevance but also increases the likelihood of engagement and offers additional control over how it is positioned in the market.
Building Brand Authority
Establishing brand authority is essential for financial firms looking to grow their RIA business or expand their reach in the industry. By consistently sharing valuable content, participating in industry discussions and showcasing expertise, firms can use social media as a proving ground for thought leadership. Often, as a result, financial firms can attract new clients, strengthen relationships with existing ones and more easily differentiate themselves from competitors.
Leveraging Social Listening
In addition to amplifying earned media, social media allows financial firms to gather valuable insights through social listening. By monitoring conversations and sentiment around their brand, competitors, and industry trends, firms can identify emerging issues, gauge public perception and adapt their PR strategies accordingly. This real-time feedback loop enables firms to stay agile and proactive in their future efforts with the media.
Financial firms are navigating a highly competitive market, and therefore cannot afford to overlook the power of social media in amplifying their earned media coverage. By strategically integrating social media into their PR efforts, firms open themselves up to an ocean of additional opportunities to maximize their visibility and drive business growth. And that is called playing to win.
Elena Krasnow, marketing manager at StreetCred PR