I often hear from potential and new financial advisor clients how they want to be in top national media like Smart Money magazine and CNBC. Yet, they have completely skipped an important building block to getting into the national mainstream press: being in their local media.
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Many advisors dream of being on the cover of a national magazine, but most need to ask themselves, “What will this do for me?” Most small advisors I know and have worked with over the years tend to have a client base that is local. Most want to build on this segment of their market. In that case, their local media has far more value to them than does the national spotlight.
Advisors can tap into this market in a number of ways: letters to editors of their local newspapers on topics in the news in which they have an opinion; news releases on company news – new hires, milestones reached, anniversaries and a like; byline articles in their local business journals; being a source to local media for stories in the news locally; local TV where there may be a show focused on finance – for example in Connecticut, there is a show On the Money on News 12. This is the way to garner local press and attract new clients locally. Demonstrate your knowledge, ability, experience and expertise.
In addition, it gives investment advisors the ability to hone their messages and position themselves as an expert in certain financial areas in a much smaller market. Perhaps you see yourself as a retirement expert. It is important to focus on what strategies you use with your clients that others can use. What are the retirement challenges your clients are facing and how do you solve them? What is the message you want the public to know? Is it that you can retire regardless, or that people should expect to work in their retirement years?
Once you have been in some local media and you still see the need and value of being in national media, the video of appearances on local TV can be used to try and get spots on national TV. The articles, be it as letters, quotes, or stories about your business or how you help retirees can be used for further pitches to national print reporters.
So when you see the need to get some publicity and have a desire to grow your practice, first ask yourself who you want to attract as clients, and approach those media outlets that serve your desired and current clientele.