Financial PR can be understood in multiple ways. Firstly, in the broader spectrum, PR for Finance is related to creating and executing PR strategies for financial services companies. This means that the PR team works to manage the reputation and communications of, for example, a company specializing in Fintech services or SaaS for financial transactions.
Next, the term “financial services PR” could also indicate the exclusive management of shareholders, investors, or customers relationships. In this case, strong emphasis is placed on managing a company’s financial reputation with in PR strategy, in order to secure valuable connections with important audiences.
To summarize, financial public relations addresses issues related to capital investment patterns, the financial reputation of companies, economic forecasts, mergers and acquisitions, as well as profit and losses. Not to mention, total PR for financial services.
In case it’s not yet clear what exactly goes into financial PR management, here’s a further description: It involves PR activities associated with both the financial media and the financial community more widely. For example, financial news agents and investment bank analysts. The main focus is on communicating a company's financial performance to these groups.
This being said, financial PR is important as it is the practice of sharing educational material, asks for audience engagement, and indicates signs of authority, competence, and mutual understanding between stakeholders. This also assists with competitor differentiation.
Financial service companies need to establish a good sense of trustworthiness and credibility. This is where financial PR firms step in - to create a business narrative that drives positive image creation for the company in question.
A financial PR campaign is a series of PR actions which has a specific intent in sharing a narrative, brand identity, product or industry development for your finance brand. It’s a carefully crafted, strategically planned event, which can include, depending on your goal, a series of social media posts, articles or press releases, where the overall intention is to put your business in the spotlight, sharing your story and unique position with your audience.
Financial PR must ensure to communicate the complexities and industry-specific jargon of the finance industry with clarity, sharing the importance of the industry and of your specific brand without being too heavy or confusing for the average consumer. Depending on your specific goals, financial PR can target investors to help you grow your business, reach consumers to increase your brand awareness, or assist in managing your brands’ relationships with your customers, investors and potential partners alike.
‘Financial relationships’ indicate the relationships in which an individual and/or multiple parties receive a financial advantage by accumulating any type of financial benefits. For example, by receiving a salary, profiting from intellectual property rights, ownership interest (e.g., stock investments), or other capital gain via alternative financial assets.
In any of the above mentioned cases, a legal agreement and understanding is undergone by those involved in the financial relationship. It's important that all terms of the agreement are made clear and that there is no miscommunications or misinterpretations of information present. In this case, the help of a financial PR consultant could be enlisted to make sure that an acceptable level of clarity in communication (verbal and written) exists.
The aim of financial PR is to build trust surrounding your business. In looking for customers, investors or partnerships, it’s key to have an established reputation where your audience knows they can have trust in you, and see you as an established, credible brand worth working with and investing in. Financial PR helps you grow your business by projecting the image you deserve.
When planning a global PR strategy, PR experts must have an acute awareness of both the financial landscape at present and the international climate of the target market. To build an effective strategy, there must be an awareness of the current financial newscycle and latest industry developments, as well as an in-depth understanding of the financial situation, updates and perspectives in the countries you’re looking to do business in.
