Getting payback on your PR in financial services

Working in the financial services sector and struggling to breathe life into your storytelling?

‘Ultimately we are communicators and storytellers so focusing on storytelling and creative messaging within the boundaries of regulatory constraints does have its challenges. But in these we find opportunities, too,’ believes Jonathan Williams, managing director for Rosely Group.

Working regularly with clients in heavily-regulated spaces like OANDA and Apex, Jonathan shares advice for building trust with your internal and external stakeholders and preparing for any potential crisis by monitoring what lies ahead.

What are the biggest challenges of regulation in financial services?

Adhering to strict compliance guidelines while still effectively conveying messaging is the obvious answer. But what this really means is trying to stay reactive and on trend and newsworthy while ensuring we have the correct sign offs and have adhered to all the rules. Ultimately, it’s balancing transparency with the need to protect sensitive information.

How do you stay reactionary to the news cycle with your comms, when sign-off from stakeholders can take time?

We always start by preparing pre-approved templates or messaging frameworks for rapid response situations. Then try to maintain open lines of communication with legal and compliance teams to streamline approval processes. Of course, we also start to get a good idea of what does and doesn’t work for clients as our work goes on. We also expect delays, so account for this in our planning.

How does your team keep campaigns creative?

Ultimately, we are communicators and storytellers so focusing on storytelling and creative messaging within the boundaries of regulatory constraints does have its challenges, but in these we find opportunities, too. By leveraging innovative formats such as infographics, animations, or interactive content to engage audiences and using our specialised film division Storyboard we are able to tell often complex stories in an engaging way.

We also place an emphasis on thought leadership and educational content that adds value.

How do you manage reputational risks in your comms strategy?

As an agency we, of course, have access to various social listening and media monitoring tools. But knowing how to use them is what’s important. Identifying risk or crisis before they happen, watching mistakes of others, and learning from them allows us to implement robust media and social media monitoring processes to track conversations and detect potential issues before they arise.

Also, by cultivating close relationships with stakeholders, including legal, media, and operational teams, we can try to anticipate and address reputational risks proactively. One of the benefits to our clients of working with us is the access to our senior consultants and leaders, who can provide clients with a huge amount of insight and advise on situations and through this we have their trust.

Of course, for all clients where risk exists, we develop comprehensive crisis management strategies with clear protocols for escalation and response.

Again, we also place an emphasis on thought leadership and build up a steady stream of content to underpin any reactionary comms that may be required.

Tips for staying up-to-date with regulation/legislative changes?

– Subscribing to industry publications, regulatory updates, and attending relevant conferences or seminars.
– Establishing internal processes for regular compliance reviews and conducting ongoing training for team members.
– Utilising regulatory intelligence platforms or services to monitor changes and interpret implications for communications.
– Regular sessions with clients and their internal regulatory teams to ensure we are on track for their specific needs.

What do you find most effective for tracking ROI and impact of campaigns?

By establishing clear KPIs aligned with client objectives, such as brand sentiment, website traffic, lead generation, or customer acquisition. We also operate an innovative Quality Score system for both opportunities, to showcase urgency and time that should be invested by the client and end result showcasing accuracy of coverage, reach, target audience, and if it’s on message.

We also conduct post-campaign evaluations and analyse data to assess ROI and inform future strategies.

Is there ever room for attention-grabbing PR ‘stunts’ in heavily-regulated sectors?

While attention-grabbing tactics may be more challenging in heavily-regulated sectors like finance, there can be opportunities for creative and impactful campaigns within compliance boundaries. Working with suitable on-brand partners and ambassadors, for example. Also, emphasising authenticity, credibility, and value proposition over sensationalism to resonate with audiences and maintain trust.

Any advice for grabbing journalists’ attention with pitches?

Tailoring pitches to the specific interests and preferences of journalists, demonstrating a clear understanding of their beat and audience.

Offering timely, relevant, and newsworthy angles that align with current trends or developments.

Providing concise, well-researched pitches that highlight the unique value proposition and potential impact of the story.

Are AI tools actually useful in PR and comms work yet?

AI tools can be highly useful in tasks such as data analysis, media monitoring, sentiment analysis, and content optimisation but they are no replacement for trained writers. In our case we pride ourselves on our ability to understand our clients and their tone of voice.

It’s essential to balance the benefits of AI with potential risks, including data privacy concerns, algorithmic biases, and ethical considerations as well as the fact that regulations and news changes and AI tools like ChatGPT tend to be out-of-date.

Ultimately, incorporating AI into workflow processes can enhance efficiency and effectiveness, but human oversight and judgment remain critical to ensure accuracy and ethical standards are upheld.

For more on customer loyalty and the role of AI in PR and comms, download our white paper ‘Reputation management: How to maintain trust in an AI-assisted future’.

Want to start tracking the effectiveness of your own campaigns? Try Vuelio media monitoring and insights.