Tag Archives: press coverage

Investment-Related Publicity: How Clueless is Your Fund?

According to BNY Mellon’s most recent survey of Investor Relations (IR) practices worldwide, fewer than half of the nearly 700 respondents are using media relations to support their IR goals. More significantly, only 6% of that group included media exposure as a top IR goal.

Whether its reluctance to proactively pursue publicity (also called “earned media”) is based on cost, control, or misunderstanding of the function, the investment industry is failing to take advantage of one of the most powerful means to build investor awareness, third-party endorsement, and assets under management.

Here are some thoughts on how your fund can effectively leverage publicity:

More Publicity is Not Better: The term “media mentions” is broadly used by the investment industry to describe publicity, which implies that the sheer volume of exposure is beneficial. Even if your fund generates piles of press clippings, however, there are too many distractions within print, broadcast, and digital media channels to ensure that target audiences will ever notice, or be influenced by, any of those mentions. A media relations strategy driven by volume rather than substance is an expensive, zero-sum game.

Not All Publicity is Created Equal:  High-value media exposure puts an exclusive spotlight on your fund’s intellectual capital, underlying values or narrative, and typically allows you to control all or most of the content. On that basis, specific types of publicity — such as a firm profile written by a “friendly” journalist, or a one-on-one interview on relevant topics — are far more valuable than simply being mentioned or quoted (often with a competitor or two) in a news story, or providing a sound bite for CNBC.

Create Credibility Tools: The underlying value of media exposure lies in the inherent third-party endorsement that’s provided by a respected, objective media source. (This is why a Wall Street Journal article is more valuable than paid Wall Street Transcript coverage.)  Your goal is to generate media exposure that serves as ad hoc “credibility tools” for your firm, which can be used in your IR program to assure current investors, prospects and referral sources that you are a safe choice. If your publicity doesn’t make your fund’s marketing materials more believable, then the tactic will never have a connection to asset growth.

Plan Media Solicitations Last: Most media exposure is pursued in a haphazard, opportunistic manner. But to generate publicity that has inherent business value, you need to work backwards: first define what specific behavior or opinion you’re attempting to influence, and then determine what type(s) of media exposure will accomplish your goal. Only at that point are you prepared to solicit specific media opportunities that have the potential to drive measurable business outcomes.

Put Your Media Exposure to Work: Too often, media placements are passively hung on a website or a LinkedIn profile like a hunting trophy. But media exposure itself is never the goal; it’s only a means to an end, and must be put to work. Current and prospective investors, referral sources and other key audiences should be consistently reminded – through your positive media exposure – of who you are, what makes you different, and why they should invest with you. This is the tedious but critical step that most firms skip: maintaining a database of important contacts, and nurturing those relationships with those individuals by leveraging their media exposure to drive awareness and engagement.

Slice & Dice for Incremental ROI: In our digital age, there are online opportunities to gain additional mileage from the publicity you generate. For example, if you’ve scored a bylined article in a respected publication, initiate a discussion on the article’s topic within appropriate LinkedIn user groups, and attach a link to the published piece. Or use Twitter to promote your article’s link, by Tweeting (more than once) a provocative observation or quote from the piece to generate interest.

Funds that use media exposure effectively also understand the greatest limitation of the tactic: that no amount of publicity can compensate for an enterprise that lacks a strong value proposition, a clear sense of purpose, and underlying integrity. Without those cornerstones of brand reputation, publicity’s potential to expose a fund’s shortcomings will always represent a liability.

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No-Cost, Cornball Marketing Can Drive B2B Top-of-Mind Awareness

LtoR: Heather Fuller, Andrew Crisp, Percy, Gary Thompson, Mickie Kennedy. Missing: Nimmi, the acrobatic dog.

eReleases competes with dozens of electronic news distribution services, all seeking to charge companies and PR agencies hefty fees to put their press releases in front of journalists, in hopes of capturing the media’s attention and coverage.

After some polite online badgering by eReleases, Highlander Consulting gave that upstart firm a shot last week; tasking them to distribute a press release for one of its clients, CAP Index Inc. – a leading provider of  crime forecasting data and risk analytics.  eReleases’ results were as good as, or better than, any of its larger, better-known competitors.

But what impressed us more than the quality of their service, was the no-cost, cornball guerilla (included in photo) marketing tactic that eReleases applied to thank us for our business.

A whacky whiteboard “eReleases Welcomes…” photo, personalized by name, sent by editorial director Heather Fuller, was embedded with this note:

“We just wanted to take the opportunity to personally welcome you as a valued eReleases customer and let you know we’re not just a website in some guy’s basement. 🙂

If you ever have any questions or concerns, pick up the phone and call us. All of our editors pick up the phone. No pushy salesperson or operator standing between you and us.”

So….what service provider will Highlander think of FIRST the next time we need to distribute a press release online?

Marketing Lesson: Cheap, clever and memorable can beat costly and sophisticated when it comes to driving top-of-mind awareness with targeted B2B audiences.

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