PR For Analysts – Is It Worth It?
Many financial institutions have, at one time, considered the need for a PR program for their securities analysts. The truth is, it’s not for everyone—in fact, many respected analysts choose not to participate. But that doesn’t mean that it’s not beneficial for some firms—it just depends on their marketing needs.
And, at a time where many financial institutions need to counteract negative news, an integrated marketing communication program centered around research and expert commentary can generate controlled, positive press.
Typically, strategic public relations for analysts is used to:
- Increase brand recognition:
Regular commentary in outlets such as Barron’s and CNBC can raise a firm’s profile and pay big dividends for the rest of the business. One of our clients swears, “Every time one of our analysts is on TV, our sales and trading phones immediately start ringing.”
- Add credibility:
If a firm expands coverage of new industries or issues, the first thing it needs is credibility, and consistent media coverage provides it.
- Attract and retain Senior Analysts:
Analysts are often attracted to firms with a robust PR program. Recognition is portable, so analysts that come from other firms will easily be able to pick up where they left off.
If you do decide to move forward with a program, we’ve learned a few things that are important to remember to keep it chugging along smoothly:
- Give them what they want:
Analysts generally value media opportunities that highlight their expertise and the depth of their industry knowledge. Each analyst has different priorities that PR should learn —while auto analysts may privilege the Detroit Free Press, others will only focus on the Wall Street Journal.
- Respect their boundaries:
Media interviews aren’t for everybody—and that’s okay. PR’s role is to educate the analysts, and use tools such as media training to increase their appetite. But we also have to respect the fact that not everyone wants to share their wisdom publicly.
- Value their time:
Time is of the essence for analysts. Working with analysts requires balance—and we’ve learned the importance of efficiency while working to accommodate the hectic schedules of both the analysts and reporter.
Have you had an effective PR program for analysts?
(photo by luisvilla)
To reach Katherine: