Strategic PR for fintech may boost awareness, investment, and distinction in the competitive financial sector, according to SkyParlour’s Angela Yore.
In the financial industry, where companies are continuously fighting for attention, it might be difficult to build a strong and trustworthy presence. In the finance, IT, and e-commerce industries, Angela Yore, MD and co-founder of SkyParlour, a dedicated communications firm for fintechs, has elevated the visibility of hundreds of companies, from vibrant startups to market leaders.
Yore clarifies here the complex function that PR strategy plays in assisting fintech companies in becoming successful.
For your fintech company, have you ever thought about the revolutionary potential of strategic public relations (PR)?
I’m not talking about generic PR here; rather, I’m referring about focused, well-crafted, and targeted PR.
This is an important distinction.
Including a dedicated fintech PR agency in your arsenal can make all the difference in the world to stakeholders comprehending your goal and offering. It might hold the secret to getting funding, standing out from the crowd, and succeeding in the financial space.
What is strategic PR exactly, and how can it benefit a fintech company?
- Attracting notice
The fintech industry is known for its rapid growth. New players with creative products are emerging every day, and they’re all vying for attention. Fintech companies may rise above the noise and get the recognition they deserve by using a specialised PR agency to convey their story.
Effective PR is not about self-promotion but rather education when done correctly. It’s the skill of captivating stakeholders with a company’s image, offerings, and spokespersons. In this context, that frequently entails simplifying difficult ideas into engrossing stories.
- Developing value propositions that are appealing
Fintech companies can work with PR firms to create compelling value propositions that are easy to understand and can be the basis for future communications. These assertions ensure that a company’s benefits are conveyed in all external communications.
It’s critical to pay attention to both the qualities of the product or service as well as their utility, or how they can better than rivals solve the issues of potential customers or improve their conditions. This strategy supports internal sales and marketing teams and improves customer acquisition.
Additionally, keep in mind that communications with the intended audience has to be customised to fit their hobbies. Talk in their vernacular. For example, it makes little sense to delve into technical detail if your target audience is not tech-savvy.
- Strengthening trust and credibility
Securing media exposure for customers in pertinent magazines, websites, and news outlets is a big part of a PR agency’s job description. Positive media coverage generated on relevant platforms can increase brand awareness, draw in new clients, investors, and partners, and establish a fintech company as a leader in the field when done correctly.
Strategic media placement and communication also aid in establishing a company’s reputation as a dependable participant in the industry. Any industry needs this kind of trust, but fintechs that handle large amounts of money depend on it for survival.
- Becoming an award-winning individual
PR agencies offer an unbiased, external viewpoint that is beneficial during the application process, which is why businesses frequently rely on them to find and apply for industry awards, rankings, and recognition programmes. In this sense, specialised agencies are advantageous since they are knowledgeable about industry trends, jargon, and the particular opportunities and difficulties that exist in the field.
Winners or finalists for industry awards boost an organization’s image and visibility, recruiting new stakeholders. A company’s “award-winning” reputation can also serve to enhance its perceived reliability, potential, and true innovation.
- Assistance in crisis management
Unexpected incidents and calamities can strike any business. Even with the greatest of intentions on the part of a fintech company, public worries can arise from occurrences such as data breaches, service outages, and problems with regulatory compliance.
One of the most important aspects of reputation risk mitigation is strategic PR. PR experts are great at creating brands and can quickly address issues through efficient crisis communication methods. This enables a fintech company to stay transparent with all stakeholders and refute any false assumptions that may have arisen after a catastrophe.
- Bringing in capital
Attracting investment is frequently at the top of the agenda for expanding fintech companies, from seed money to Series D financing. Robust public relations initiatives have the potential to draw in investors and establish new alliances in the sector. To the appropriate stakeholders, media attention, interviews, and thought leadership pieces can all serve to showcase a business’s accomplishments, prospects for expansion, and distinctive selling point.
A fintech company’s C-suite can be promoted by taking advantage of opportunities such as speaking engagements at industry conferences, writing articles for respectable publications, or taking part in pertinent panel discussions. This not only highlights the company’s expertise but also increases its visibility and credibility, which works in concert to attract potential investors.
- Purpose-driven partnership
Fintech companies can define their public image, attract investors and consumers, handle crises, and make a strong impression in the very competitive fintech market with the help of strategic PR. Working with a specialised firm may greatly improve a fintech’s PR and marketing tactics and put them ahead of the competition because of their in-depth knowledge of the industry, relationships within it, and market insights.
