Unleash the Power of Public Relations

The Value of Public Relations in Marketing

Public relations effectively bridges the gap between advertising (which is meant to influence) and news (which is meant to inform) by using an informational format to influence consumer behavior. When your message is offered as news, it carries the implied endorsement of the news medium and becomes more believable. The customer who hears the message does not hear it as a sales pitch but as information.

Setting Goals

It is important to define the objectives of your public relations campaign and to determine exactly what you expect it to accomplish. Campaigns should then be designed according to the objectives; what works well for one objective may not be successful for another.

Building Media Contacts and Relationships

It is essential to establish and maintain good relationships with the media. Try to cultivate personal contacts at each publication or broadcast station on your media list and avoid sending out information addressed simply to "news director" or "editor." Share information equally among competing news organizations.

Reporters will appreciate anything you can do to make their jobs easier. Provide materials that do not require extensive rewriting and include documentation for facts. An information-packed news release or background piece may be used in its entirety once your contacts have learned to trust you as a source of reliable information. To ensure credibility, cover every detail and check all the facts in your news release before it is issued to make sure the information is accurate. Key spokespersons who may be contacted for interviews must be well-prepared and willing to answer questions.

News releases should be well-written and factual; avoid flowery language or blatant self-promotion. Remember that your story is more likely to be used if it has a real news angle or captures a trend that will appeal to a general audience. 

Never try to use your institution's position as an advertiser in order to get media coverage. This tactic usually does not work, and it will almost certainly create resentment, making it that much harder to get coverage in the future.

Frequently Used Materials in Public Relations Campaigns

News Release is the most widely used format. It is used to disseminate information and is sent to every possible medium. Format should be a single, double-spaced typewritten page with the most critical information contained in the first paragraph. Make sure the first few paragraphs of the release answer the questions: Who? What? Where? When? Why? It also should include a contact name and phone number as well as a press release date or a notation that the piece is "For Immediate Release."

Backgrounders provide information as an aid to reporters, editors, executives and spokespersons. This is separate from the lead news release, but is useful for writers. A backgrounder piece may include a brief company history, sponsorships and background on the story you are currently promoting.

Fact Sheet is a bulleted summary of basic information contained in your news release and backgrounder. It should contain important dates, locations, times, participants and -- in some cases -- historical notes.

Public Service Announcements (PSAs) are radio or television announcements promoting a public service event of interest to specific groups or the general population. The format is similar to a news release except that the copy must be precisely timed and identified as :10, :30 or :60 second announcements, each submitted on a separate page. TV stations will usually include this information as an announcement on a local talk show or a community calendar, rather than producing a PSA.

Biographies provide biographical information about guest speakers, key executives or other individuals who will be participating in an event. This information can provide reporters a unique news angle.

Articles are complete, detailed stories that are provided to newsletters or house, trade or consumer publications. They should utilize a news angle that will appeal to the publication's readership. Articles often carry the by-line of one of your officers.

Press Kits contain any or all of the above materials, including photographs of key participants when possible. Use action photos to generate more interest.

The Special Event

A successful event presents tangible benefits to your customers and to the community, and it offers a genuine news story to the media. Carefully analyze your planned event and your communications objectives to determine its newsworthiness. Types of events include:

• Product Events -- specifically designed to roll out a new product line or promote and sell an existing product;
• Institutional Events -- intended to enhance your institution's image over a long period of time;
• Personality Events -- used to build recognition by bringing in speakers or celebrities; and
• Informational Events -- provide information, and influence the way people think about a subject.

How to Get Media Coverage

It is important to start early in order to get media coverage for your event. Several weeks before the event, determine a procedure and a time schedule.

Notify reporters three to four weeks prior to the event via a phone call or an e-mail, and highlight the newsworthiness of an event or an interesting angle. Send a mailed invitation one to two weeks prior to the actual event; distribute via fax or e-mail one to two days prior a media advisory with bulleted information concernting the who, what, where and when. You will want to conduct follow-up calls after the media advisory has been distributed. Television and daily news reporters should be called again the morning of the event or the day before, if it is an early morning event.

If your event is a major one, you might want to stage a reception the evening before the occasion, if possible. During your follow-up calls to the media, remind them of the pre-event activity, and invite them to attend. To generate further interest provide copies of the guest lists to the social reporters as soon as they are available.

Speakers' Bureau

A speakers' bureau, composed of knowledgeable executives, can help create awareness and personalize your institution. The executives should be available to address local organizations and community service groups. Personal appearances are a direct and persuasive means of communicating the ideals and objectives of your products and services.

Topics should address the needs of the target audience and allow an opportunity for a question-and-answer session. Provide visual aids such as flip charts, videotape, or PowerPoint presentations to add interest and keep the seminars fast-paced.

Speaking engagements can provide an opportunity for media coverage. Inform the press prior to the event and follow up with photographs, speech excerpts, and quotes from question-and-answer sessions.

Corporate Giving

Corporate contributions can be a powerful way to focus attention on the institution and its products and services. Underwriting an event or sponsoring a fund drive is a way your institution can take a visible stance in favor of positive action and concern. 

Internal Follow-Up

All employees with customer contact should be fully aware of all the public relations efforts made by your financial institution. They should be well-informed and able to answer customer questions about the event. Materials should be on hand to promote the event and provide any additional information to customers.

Get employees involved and excited about the event, and encourage them to participate in the event as volunteers. Thoroughly review every detail that will take place during the event. Top executives must be kept in the information loop as well. Prepare or review comments, and anticipate the types of questions from the media.

All aspects of a public relations campaign should be geared to achieve your financial institution's objectives. With sufficient planning, follow-through and time, it is not difficult to produce a successful event and achieve the results you want: substantial media coverage and increased community awareness of your financial institution, your products, and your services.