Over the last several months, we’ve heard from numerous fintechs that there’s no such thing as earned media. When we’ve asked why they think that, they say it’s because their PR firm told them.
While frustrating for our team to hear, to be fair, these other PR firms are usually not fintech-focused and likely unfamiliar with the publications we work with. It’s also likely that the industries they’re more familiar with are, in fact, pay-to-play.
But not financial services.
Additionally, misguiding fintechs means missed opportunities for them to share their story. While paid advertising and owned content are essential components of a comprehensive marketing strategy, earned media provides third-party validation and endorsement, often carrying more weight with audiences.
To help dispel this myth, here’s a short guide on how fintechs can generate more earned media coverage:
1. Cultivate Compelling Storytelling: Crafting compelling narratives that highlight your fintech’s mission, vision and impact is essential for capturing the attention of journalists and influencers. Focus on telling stories that resonate with your target audience, showcasing real-world examples of how you’re solving problems, driving innovation, or empowering financial institutions. Include data points or insights from your customers on the value you provide. Detail the industry-wide importance of your technology and solutions, including outside research that supports your argument.
2. Establish Thought Leadership: Positioning your fintech and executive team as thought leaders in the industry can attract media attention and opportunities for expert commentary. Share insights, industry trends and data-driven analysis through blogs, whitepapers, webinars and speaking engagements. By demonstrating expertise and authority, you can become a go-to source for journalists seeking expert opinions and commentary.
3. Forge Strategic Partnerships: Collaborating with complementary businesses, industry associations, or influencers can amplify your fintech’s visibility and reach. Seek out partnerships that align with your brand values and target audience, leveraging their existing networks and platforms to gain exposure. Joint announcements, co-authored content, or co-hosted events can generate interest in your fintech.
4. Engage in Media Relations: Building relationships with journalists, editors and media brands covering the financial services industry is crucial for earned media coverage. Invest time in researching relevant media contacts, understanding their areas of interest, and tailoring your pitches to meet their needs. Personalized, timely pitches that offer unique angles or exclusive insights are more likely to resonate with journalists and result in media coverage. Also, approach potential media conversations as an opportunity to share information rather than pitch your fintech. You should also consider how you can help them. It is always obvious if a conversation is approached with the expectation for something in return.
5. Leverage User Success Stories: Highlighting user success stories and testimonials can humanize your brand and provide compelling storytelling opportunities. Identify clients with a unique story and that are willing to share their experiences using your fintech. You can showcase their stories through press releases, case studies, or testimonials.
6. Monitor Industry Trends and Newsjacking Opportunities: Stay ahead of industry trends, news events and timely topics relevant to the financial services. Identify opportunities to insert your fintech into relevant conversations through newsjacking, where you leverage trending topics or breaking news to garner media coverage. By offering unique perspectives or insights on current events, you can position your fintech as a relevant and timely contributor to industry discussions.
Despite some of the recent claims, generating earned media coverage is possible, but it requires a strategic approach that combines compelling storytelling, thought leadership, strategic partnerships, media relations, user success stories and timely newsjacking opportunities. By implementing these strategies and consistently engaging with journalists, fintechs can increase their visibility, credibility and influence in the industry, driving sustainable growth and success.