It is not uncommon to find IFAs who see the press as a menace rather than a new business tool. But m...
It is not uncommon to find IFAs who see the press as a menace rather than a new business tool. But managed effectively, you can use your contact with key members of the print and broadcast media to heighten your public profile and generate new business leads.
Not everyone has the same experience when dealing with journalists, but those IFAs who regularly pass story ideas or comments to both their regional, national and trade press have found it can generate at least 50% or their new business.
Getting your name in your local newspaper, for example, means more people can get to know you and are more likely to trust your views the more they see your comments. And getting your telephone number and web address in the paper can generate customer enquiries for free, because commenting on or highlight a story doesn't incur advertising and marketing costs.
A guide produced by MyMoneyAdviser and Supply Media to explain how you can build your public profile and work comfortably with journalists.
The key element to dealing with the media is preparation. You have to decide what you want to achieve, which audiences you want to target, how much time and money you are prepared to inject, as well as the minor detail of finding a story which journalists might be interested in.
At first, you may only need dedicate a couple of hours a week to talking to or meeting reporters but as your profile grows, you will probably have to increase the amount of time you spend on the phone with the press.
What will also be crucial is you will need to be ready to handle the new business enquiries that could arise from your new-found media presence.
Dealing with the press can take many forms and can therefore require different skills from you depending on whether you are talking to a local newspaper reporter or trade journalist - such as those who produce IFAonline or Money Marketing - or offering your comments on a radio or TV programme.
But they all need one key element: 'new' news. It is not a journalist's job to promote your service because you want them to. You have to give them reason to, so do that by showing your expertise in financial services and build a relationship by offering:
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