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There’s a reason why earned media for financial advisors is like hitting the jackpot. Imagine getting your story, expertise, and name in front of a much bigger audience – say, everyone who tunes in to the local news or subscribes to Bloomberg. What if you could get that kind of exposure for free?
Earned media acts as a third-party stamp of approval for your firm, generating more referrals while boosting existing referrals. Think about it: are you going to go with the plumber who your friend recommended? Probably. Now what about if your friend recommends the same plumber who was just interviewed on your favorite home renovations podcast, or you see that plumber listed in a best local businesses feature? That “probably” just upgraded to “definitely.”
The more external sources toot your horn for you, the more credible you become in the eyes of your prospects. However, it’s not enough to leave your PR to others. If you want it to really go the distance and improve your referability, you need to share what others are saying about you. Let’s dig into how financial advisors can get earned media and learn how to leverage PR for maximum volume.
What is earned media, and how do you get it?
Did you pay for that shoutout, promo, or feature? Then it isn’t earned media. Earned media is, by nature, a vote of confidence in your credibility by someone independent of your firm. Its organic nature is what makes it valuable to prospects. As Mike Masseur, PR Director for RDW points out, “...it has news value. It has life. It delivers meaningful content to those reading about it. And no amount of money can secure it. It’s through earned media that we can apply a human element to any financial institution, bolster credibility, and reinforce market leadership.”
Emphasizing human connection, authenticity, and credibility is a major element of a good referral strategy for financial advisors. So how do you get featured by a third party without paying them to say nice things about you?
1. Create something worth sharing. Publish research findings, a guideline, or a resource that is genuinely helpful, easy to understand (no financial jargon!), and free. If you consistently address the same question in multiple client meetings, write an article or guideline about that. If you’re tired of seeing inaccurate financial advice go viral on TikTok, record a rebuttal. These types of resources are perfect for independent publication.
2. Host an event or champion a cause. Plan a shred day or educational event with a specific client demographic in mind, and open it up to the public so your local news outlet will see more value in covering it. You can also choose a cause you feel passionate about and host fundraising events or volunteer days. If asking for donations to a charity feels awkward, learn how to lead with your heart and deepen connections with your audience here.
3. Get featured on a podcast, videocast, or webinar. Remember, no paid gigs! If you’re not sure how to get your foot in the door, start with Sara Lohse’s tips for a perfect pitch.
4. Give a little to get a little. In other words, networking can be one of your best tools for generating earned media, and especially for building backlinks. Having links to your website or content from other reputable sources goes a long way toward increasing your credibility and reach, which means, you guessed it, more referability! Consider collaborating with or sharing content from adjacent professionals on your socials or website to get the party started.
5. Write a book. You’re no armchair expert; you’re the real deal, and your experience gives you plenty of book material. While publishing isn’t free and isn’t earned media, getting your book featured or reviewed by a third party definitely is. Click here to learn how Lauren Cobello helps advisors like you go from hot off the press to flying off the shelf.
6. Win awards. What’s more convincing to prospects and referrals than an award-winning firm or advisor? You shouldn’t bribe the judges, and you don’t have to with Brian Hart’s strategies for navigating awards for financial advisors.
7. Be the news. And if you can’t, talk about it. This includes crisis communication, whether there’s a major event impacting your local community, the financial industry, or one of your audience segments, as well as news interviews. One of the best ways to get noticed by reporters is through news releases. Even if you don’t see immediate results, 68 percent of reporters say they use press releases to generate ideas for stories. Your story might not get picked up right away, but you’ll be on their radar for future interviews. If you’re worried about your interview skills, start with these pointers from Ben Lewis, Chief Communications Officer of the FPA.
8. Implement an effective testimonial process. Don’t sleep on a strategy for capturing client reviews! Get going on Google with these tips, or learn how a third-party service can help you capture rave reviews from your number-one fans.
Don’t sit on a goldmine
The secret to effective earned media is not keeping it a secret. In other words, you can’t just show up to that podcast feature or news interview and call it good. You have to put your earned media to work for it to reach its full effectiveness. As Alana Kohl of AdvisorPR points out, “It’s not a one-time event, you know? It’s not [that] you appear in the news and you just hope that the people who you want to see it are going to tune in and actually see it [...] You’ve got to tell your people in 100 different ways.”
So what exactly are those 100 different ways? Share earned media on your website, social media channels, and newsletters. Have an “as seen on” section on your website for awards and interviews. Post testimonials on your website the right way with tips for navigating the SEC rules you can find here. Talk about it, post about it, and don’t stop! You can even stretch the mileage by posting clips from appearances as shorts.
And of course, if you’d rather offload the responsibility of pitching, managing, and posting, learn how you can get a sweet discount on our savvy PR Promote services when you combine it with a package from Advisor PR. Whichever route you choose, earned media is the gold sticker of approval that’s just waiting to supercharge your referral strategy.
Over 10 years of experience in the financial planning industry, a former position as Digital Marketing Coach For The FPA, and being formerly licensed with the series 7 & 63 provides Kalli Fedusenko an insight and understanding into your practice and objectives. She specializes in brand strategy, web content strategy, video content planning, and more. This powerful combination of creativity and strategy makes Kalli the perfect guide to give your brand a voice.
Make your next business development conference or seminar memorable! Kalli has the know-how to speak on marketing and branding principles, the advisory experience to help it make sense, & the flair to make it anything but boring. Get the details here.
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Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.