Tuesday, July 11, 2006

CFA Magazine: "Media Presence: Gaining Exposure through media outlets can provide intangible benefits"

Getting publicity can help CFAs and other managers targeting high net worth investors, as Ed McCarthy points out in "Media Presence: Gaining Exposure through media outlets can provide intangible benefits" in the July/August issue of CFA Magazine.

I agree with McCarthy's "Key points" summary on page 50 of the magazine.

I can add some points:
  • Hire a PR consultant who's familiar with the publications and reporters covering your area of expertise
    • They can get you better interviews and placement faster
  • Use a PR consultant -- or at least a former reporter -- for mock interviews
  • The more you invest in answering media queries forwarded by organizations such as NAPFA, the FPA or CFA Institute, the more you'll get out of them
    • I recently sent a list of questions to the FPA, which circulated them to their members. Most of the responses said, "the reporter can call me." One response answered my questions in detail. That's the person whom I quoted most heavily in my article. Why? Because he minimized the time I needed to invest in him.
  • You can't ask a reporter to let you approve or read a story prior to publication; you can ask the reporter to let you check any quotes for accuracy
    • If you make this request, you must commit to replying quickly to the reporter
  • Always provide the reporter with your name, title, firm name and city/state
    • To ensure the reporter gets it right, email the information

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3 Comments:

Blogger Lisbeth Wiley Chapman said...

Susan is correct, I advise my clients responding to media queries to always give the reporters specific information that answers their query so that they can quickly develop a sense of your expertise. Not doing so is a complete waste of the reporter's time and the verbal equivalent of saying "Call me, I'm great!" but not backing it up.
Reporters are always on deadline and given the numbers of advisor responding to the media queries, you should make a habit of dropping everything to answer them.
The goal of a media presence is to position you as a trusted expert. A secondary benefit is that good clips can be used in an aggressive request for referral program.
Lisbeth Wiley Chapman, Principal, Ink&Air, delivering clients and assets to investment advisory firms using strategic media campaigns.
Author of "Get Media Smart! Build Your Reputation, Referrals & Revenues With Media Marketing."
beth_chapman@inkair.com

11:42 AM  
Blogger SusanW said...

Beth,

Thanks for your comment!

When I'm wearing my reporter hat, I favor sources who'll "drop everything" to help me, as Beth says.

1:06 PM  
Blogger SusanW said...

On the website of Rick Shaughnessy (www.CoronadoPacific.com) I found a link to an excellent "Pensions & Investments" piece on talking to reporters (http://www.pionline.com/docs/PI%20Reporter%20Tips.PDF)

1:00 PM  

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