Explore leading financial public relations firms like Finanztext, specializing in enhancing the image of asset management companies with strategic communication.
What is public relations (PR)?
The Public Relations Society of America (PRSA) defines PR as follows: “Public relations is a strategic communication process that builds mutually beneficial relationships between organizations and their publics.” They further detail that PR is about influencing, engaging and building relationships with key stakeholders across multiple platforms to shape and mould the public perception of an organisation.
Or, in other, simpler words: PR gets your company in the media. The self-proclaimed “Father of PR”, Edward Bernays, once also pointed out that people are more likely to believe your story if it is told by someone else. This is a fundamental truth of effective PR.
Why PR for asset management companies?
This means that also asset managers and financial services cannot afford to not make use of PR, especially in this highly competitive field. A great PR strategy can make a difference to stand out from the competition.
Looking at Europe alone, the European fund marke
is one of the largest and fastest growing in the world. With over 63,000 funds and assets under management of around 13 trillion euros in 2023, competition is intense.
It is, therefore, crucial for asset managers to get their expertise and unique selling points out to the public to reach potential investors and clients. PR creates transparency towards the public through targeted measures, thus gaining visibility and trust.
Boutique asset managers can especially benefit from PR. Imagine you have a compelling or distinct story or achieved a notable milestone, such as winning an award or reaching a fund benchmark. Financial journalists might want to write about it or interview a fund manager. By sharing this information with the media, you create visibility and establish trust with the public.
A well-executed PR strategy not only helps establish your company’s credibility but also ensures that investors stay informed about your values and expertise. When investors see your firm highlighted in respected publications, they are more likely to remain loyal to your company.
Importance of PR in the marketing mix of asset managers
PR is an essential part of the marketing mix for asset managers. It helps to increase brand awareness, attract investors and maintain client relationships. In the digital era, the importance of media and internet research has increased, further strengthening the role of PR.
A targeted PR approach can significantly increase reach and ensure the right message is delivered to the right audience at the right time.
PR is often mistakenly equated with advertising. However, a distinction can be made: PR ensures long-term success and creates a positive public perception, whereas advertising is usually intended to increase sales of products and services in the short term.
Asset management PR and content marketing
Content marketing and PR go hand in hand. While content marketing aims to create valuable content, PR ensures that this content reaches the right target group. Together, they strengthen the brand message and increase visibility.
By integrating PR and content marketing, asset managers can both strengthen their market position and deepen the trust of investors and customers.
What makes good PR for asset management companies?
An effective PR strategy for asset managers should have the following characteristics:
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Clearly defined messages: a clear and precise communication objective is crucial.
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Targeted media relations: Focus on relevant media and channels.
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Sustainable relationships: Long-term relationship management with journalists and influencers.
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Authenticity and transparency: Credibility through honest and transparent communication.
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Responsiveness: Fast and effective communication.
Learn more at: https://finanztext.com/pr-asset-management/
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