Public Relations for Financial Advisors: The Importance of Local Media
When I speak with clients and prospective clients, I can’t help but notice that the majority are more excited about the possibility of working with national news outlets rather than local media. Whether it’s print, TV or radio, it is primarily the same—national media outshines local media in many eyes and has that “sizzle.” But what many do not realize is that local media can also be valuable and provide the “steak.”
Now, I am not trying to tell you that national media is not what you should be excited about. In fact, it is the opposite. National media is definitely impressive and has a great purpose, providing credibility and reach that is important.
What I am saying though: do not forget or discount your local media as a valuable piece of a public relations strategy.
In a recent national survey of U.S. consumers, TV ad platform Videa found: 59 percent of those surveyed got their news from local stations at least some of the time, while 62 percent said they trusted local news more than national news organizations. In fact, those who said they got local news content from television very often (36 percent) is nearly twice the next highest source (social media, 19 percent very often).
As you can see, working with your local media has merit and can elevate your exposure and credibility in your community among your ideal clients and prospects.
Why do financial advisors benefit from local PR exposure?
- Trust– Local media are trusted members of the community, and because of this, they have a lot of influence. Building relationships with media in your own backyard can be valuable, simply by association – if your local media trusts you then the audience will too.
- Impact– While your local media more than likely has a smaller audience than national news outlets, the impact can actually be greater with a targeted audience. The local audience who, after seeing you on TV, reading a quote from you in print or hearing you on the radio station is more than likely to engage with you. Since you are located in their community, they can see you as a neighbor and someone they may want to work with.
- Credibility– Google News also recognized the importance of local news sources and created a “local source” tag. The recognition and inclusion in Google News brings additional credibility to local outlets and makes it clear that Google thinks they are important.Prior to this, when a local outlet broke a story that was picked up by national outlets, the local source would be pushed out of Google’s roundup. Now, community news sources are no longer automatically pushed aside for a national outlet. In its blog post announcing this change, Google said, “Local reporters are often members of the communities they serve, bringing additional context and perspective to a story.”
- Leverage– Local media placements can also help you get national coverage. Without any proof that you can provide an engaging interview, many national outlets will not put you in front of a camera. However, if you can provide footage, even from the local market, of you on TV that shows how you interact on camera, it can help secure you a spot on the national news.
For all these reasons, integrating local media as a part of your public relations strategy can boost your visibility, searchability and credibility with your community.
It is also important to note that securing local placements can take just as much, if not more, effort than national media so if you decide to go this route, be patient. But know that ultimately, it is through the combination of proactive and consistent outreach to both national and local outlets that will provide the best synergy and results over time.
Learn more about DIY PR options from our past blog or contact us if we can be of help. Over the past 13 years, AdvisorPR has developed a unique specialty for securing this ongoing mix of national and local exposure for financial advisors. Learn more about our turnkey In the News program today or contact us to discuss getting started!