Establishing Relationships With Local Reporters Hot

cafzalicafzali  
 
 
0.0 (0)
Write Review
The first thing to keep in mind when dealing with local news outlets is often people who cover business affairs have no business training whatsoever. Even before the advertising decline put the economics of local news in doubt, reporters at smaller newspapers have been wearing many hats, meaning their coverage duties could change depending on the day of the week. Thus, there was never any time for reporters to specialize to the degree that you will see with larger outlets typically located in state capitals, much less the degree of specialization at major, nationwide outlets.

At first glance, advisors looking to capitalize on local media may regard this fact of life with annoyance; after all, most sources don't see it as their job to educate reporters on issues they're covering. The flip side, however, is that by taking the time to work with reporters and help them understand financial issues that will have broad significance and why that's so, you'll establish yourself as a credible source who stands the chance to receive a lot of free ink in the outlet. As I've written before, the whole goal of a PR campaign is not to take your message to the most people, but to get it in the hands of as many prospective clients as possible. Given that, local media outlets are often a great venue; they're still highly read, especially by demographic groups that have historically had a large amount of investible income.

Another issue that complicates media efforts in smaller markets is the fact that it can be hard to identify reporters who would make appropriate contacts, given the fact smaller outlets don't have a business reporter per se. A good route around this issue is to examine the paper's masthead -- the staff listing that's usually found on either the first few pages of the front section, or in some cases, the opinion page. The masthead will always identify one or more editors; for smaller papers, the appropriate contact will generally be listed either as the editor or managing editor.

Once you've identified an appropriate contact at the outlet, I recommend sending a short, introductory letter  - or e-mail, if you can easily find their address - that explains what you do and elaborates on the areas of expertise you can offer. Bonus points will probably be awarded if you can suggest a few relevant story ideas, since reporters at small outlets have to come up with all their own story ideas. During a week that has relatively little scheduled news, it can be a big chore to come up with a whole week's worth of stories, so they may very well welcome your suggestions.

After giving them a few days to get to your message, if you've not heard anything in response, I think it's perfectly fine to reach out and gauge their receptiveness. In truth, some reporters may hate this, but we're all in businesses where a large amount of rejection goes with the territory. Ideally, you'll get enough time with those willing to talk to find out what they think about your ideas and gauge how likely they are to do one of the stories. In reality, however, this may not happen and you'll have to be content with getting only enough time for a brief introduction. During this initial interaction, if you can't get them to commit to doing a story immediately, ask if they'd mind receiving future updates from your practice, such as the quarterly newsletters on market trends that many of you send to clients as well as story ideas.

Over time, odds are this approach will pay dividends. One cautionary note: Try as best you can not to be too pushy in terms of getting them to commit to featuring you in a specific time period or on a specific story. This approach may seem a natural extension to the sales process that we're all doing everyday, but some reporters have a big objection to it.

A final, but very important word is to avoid any mention of exchanging news coverage with advertising. There's still a widespread notion that this is a prevalent part of the media world, especially for smaller papers. But the truth is, most outlet who actually follow this principle aren't places you want to be. There are many small papers who, just like their much-larger counterparts, pride themselves on the "wall" between advertising and editorial coverage, so suggesting a right to coverage with an ad buy can carry big risks. As is true with more forms of selling, patience will prevail, provided you've chosen the right target for your message.

This Website Is For Financial Professionals Only


User reviews

There are no user reviews for this listing.
Already have an account? or Create an account

A Strategically Focused CE Curriculum

With classes approved for over a decade by the CFP Board, IWI, and NASBA, Advisors4Advisors CE classes are an optimal knowledge stream for CFP®, CIMA®, CPA, CPA/PFS®, CFA®, and other practitioners. It's not a grab bag of speakers willing to sponsor CE content. Nor is it a one-man CE course. It's a group of subject matter experts with amazing communication skills and a history of thought leadership that, together, give advisors a well-rounded knowledge system for running a professional practice ethically and intelligently.

CE Since October 2008

A4A CE classes for financial professionals began in October 2008, the week Lehman Bros. collapsed. Initially billed as “The Financial Crisis Webinar Series,” A4A connects advisors with authoritative sources on investing, tax, and financial planning, chosen by A4A Editor Andrew Gluck, a veteran financial reporter. A4A members get a stream of CE classes for an advisor who: 

  • holds a CFP®, CIMA®, CPA, CPA/PFS, CFA or other designation requiring CE annually 
  • values monthly CE classes by Fritz Meyer, Craig Israelsen, Bob Keebler, Frank Murtha, or Andrew Gluck
  • diversifies a core of client portfolios in low-expense funds
  • invests based on MPT and economic fundamentals
  • advises on tax and financial planning as well as investing
  • needs financial counseling skills
  • wants the Certified Financial Counselor™ designation 
  • is building a brand as a thought leader locally or in a niche
  • wants the facts when bad news breaks
  • wants CE aligned with a content marketing system
  • wants 24/7 access to CE on-demand
  • insists on objective evidenced-based tax and investment planning analysis
MEMBER REVIEWS 
William Desormeau, Jr.  
It is not possible for me to overstate the cumulative value that Craig, Bob and Fritz have added for over 10 years to my investment advisory practice, as well as for personal and family financial planning. A4A gets my highest recommendation
Lynn Najman, CFP®
I’ve subscribed to A4A since its inception, and always find it intellectually stimulating and on point. It’s one of the few CE solutions out there that doesn’t waste my time by pushing product or talking down to me.

PeteDeacon-CPA-CFP

Pete Deacon, CPA, CFP®
A4A has had a profound effect on my business. Since 2009, I’ve relied on the consistent messaging and updates to run my business successfully. Being able to present the information from Bob, Fritz, and Craig's ongoing CE webinars has been a significant benefit.

fredericMayersen-phd-cfp

Fredric Mayerson, MBA, PhD, CFP®
I've been a financial professional and professor of finance for 35 years and find Fritz Meyer and Robert Keebler to be among the most engaging, incredibly knowledgeable, and experienced presenters I’ve encountered. They deliver an extraordinary amount of information in an extremely interesting way — sequentially and developmentally, utilizing pedagogical tools and techniques that few possess.  A4A to is the most consistently excellent CE program available.  
Ron Roge, MS, CFP®
I’ve been attending A4A many years because the CE classes are outstanding, and my time is valuable. Though I have over 35 years of experience, I’m always learning something new on A4A. I attend fewer conferences now because the CE is generally not advanced. If you want to learn from the best, in a faster, easier, and less expensive way, I highly recommend A4A.

John R. Day, CPA/PFS®

I’ve been a member since 2011 and never miss the monthly webinars with Fritz Meyer. I appreciate Fritz’s independent views on the economy and markets and Bob Keebler keeps me updated on excellent tax planning ideas. A4A is a great value!

NormanPolitzinerCFP

Norman Politziner, CFP

I wouldn't miss a Fritz Meyer webinar unless my pants were on fire. I've relied on Andrew Gluck's knowledge systems --client communications and CE -- for two decades. It's simply the best solution for tax, financial, investment, and risk-management professionals.®   

Dan Hawley, CFP® 

A4A, for over a decade, has been a great resource for useful and accurate information and CE. A4A and Advisor Products are bargains for an advisory practice. 

KevinBrosious-CFP-CPA-PFS

Kevin Brosious, MBA, CFP®, CPA/PFS®

I get CPA CE credit and CFP credit for the webinars.  But not only that, the A4A content is terrific