Introduction
Let’s chat about how Fractional CMOs (FCMOs) can really amp up your PR game, especially if you’re in the fintech world.
So, why should you care about PR? Well, it’s not just about getting your name out there. Sure, that’s part of it, but good PR can do so much more. It can boost your SEO, help you reach folks who might ignore your emails, and even influence how people think about your brand. Pretty cool, right?
Now, you might be thinking, “I already have a PR strategy.” That’s great! But here’s the thing – the world moves fast, especially in fintech. Your strategy from last year? It might be a bit stale now. That’s where an FCMO can come in clutch.
What’s an FCMO, you ask? Think of them as your PR superhero, swooping in to save the day without the long-term commitment of a full-time exec. They can help you with all sorts of PR stuff:
- Setting goals (because who doesn’t love a good target?)
- Figuring out who you’re actually trying to reach
- Crafting messages that don’t sound like corporate robot-speak
- Buddying up with journalists and analysts (trust me, it’s important)
- Creating content that people actually want to read
- Planning for when things go sideways (because they sometimes do)
- Measuring how well you’re doing (no more guessing games)
But wait, there’s more! FCMOs are like Swiss Army knives of PR. They can help you build relationships with the media, create all sorts of content (press releases, opinion pieces, you name it), manage events, and even crunch the numbers to see what’s working.
A specialist PR Fractional CMO (FCMO) can provide critical expertise and leadership in developing and executing an effective PR strategy, helping businesses to maximise their public relations efforts without the commitment of a full-time executive.
Key ways a Fractional CMO can develop your PR strategy
A PR strategy is a comprehensive plan designed to manage, shape, and maintain the public perception and image of an individual, organisation, or brand. It involves intentional communication efforts to build relationships with various stakeholders, including customers, media, investors, employees, and the general public.
A well-crafted PR strategy aims to foster positive relationships, enhance credibility, manage reputation, and ultimately influence public perception in a favourable way.
An FCMO can assist fintech firms with comprehensive PR planning, beginning with an initial assessment of PR efforts to date and identifying areas for improvement. From there the FCMO can devise a strategic framework for all PR activities. This PR plan must be aligned with the overall business goals and form an essential part of the marketing strategy.
Building media relationships for beneficial exposure
Building and maintaining relationships with key media contacts and influencers is perhaps one of the most understood facets of PR. Setting introductory media briefings is just the start. You may secure some initial exposure for your firm, but the goal is to establish a relationship with the journalist. In this way you become a trusted source of specialist commentary, who the journalist will turn to repeatedly when further stories touching on your industry sector are in the news.
We established a consultancy client of ours as a credible source of comment in virtually every area of investment management technology. Scoping out relevant contacts to ensure meaningful coverage is the aim.
Content creation and distribution
A long time ago at the start of my career, a mentor described PR as ‘corporate storytelling for grown ups’. Storytelling involves developing engaging content that tells the brand’s story and resonates with target audiences. There are many routes to take in this content creation process.
- Crafting press releases – FCMOs can write compelling press releases that capture media attention and convey key messages effectively.
- Opinion pieces – an FCMO with deep industry knowledge should be able to create original content for the fintech firm, crafting this into opinion pieces. The aim is to have the opinion piece published in its entirety in a publication, with the subject matter expert’s name being prominent.
- Forward features – FCMOs can request the planned features schedule for the media outlet and see which features would be most relevant to the firm. The task then involves writing original content to submit to the Features Editor.
- Speaker platforms – this follows the same process as for Forward Features, with the objective being to secure a speaker platform at a conference. Conference organisers are always on the lookout for specialist commentators to cover a conference track or topic, although software vendors may find there is a cost for such a platform.
- Media alerts – these are unique alerts issued by media outlets and conveyed by technology platforms like ResponseSource. They usually request written or interview commentary on a given topic, often at short notice, so speed is of the essence.
- Issue hijacking – this involves creating ‘canned content’ for use in anticipated circumstances. For example, the fintech industry may being going through a period of mergers and acquisitions, so preparing some content to answer the typical questions that would arise when another merger occurs can be sent to relevant journalists.
Event management
Event planning – events still have a place in modern PR and marketing. FCMOs can organise and manage events, such as press conferences, product launches, and media briefings, to generate positive publicity. Alternatively, the FCMO may attend an industry conference with the aim of arranging media interviews with attendant journalists.
Event promotion – this involves creating promotional strategies to ensure maximum media coverage and audience engagement.
Performance measurement
An important part of executing a PR strategy is tracking metrics – establishing key performance indicators (KPIs) to measure the success of PR activities. This data analysis involves analysing PR performance to refine strategies and improve future efforts. The result may involve coming up with ways to recycle and repurpose campaign content in the hope of securing more backlinks and gaining more exposure.
Event promotion – this involves creating promotional strategies to ensure maximum media coverage and audience engagement.
When to consider hiring a Fractional CMO for PR strategy development
There are a number of scenarios where a business might benefit from a Fractional CMO’s expertise. Entering a new market, managing a product launch, preparing for a trade sale or dealing with a reputational crisis are just a few. The major plus is that before and after the event, you have the flexibility to upscale or downscale the hours of the FCMO as required.
Assessing whether a Fractional CMO is the right fit for a business’s PR needs is crucial. Have they worked agency side or always inhouse? Can they create killer content? Have they worked on a similar product or event in the past?
Conclusion
The benefits of having a Fractional CMO for developing and executing a PR strategy are numerous, but the key one is having the flexibility to bring in an industry expert practitioner for the time when you need one the most.
Want to develop a more meaningful media presence to engage audiences? Want to explore the option of hiring a Fractional CMO for your PR needs? To speak to us about using a FCMO for PR strategy development, simply get in touch.