Throughout her career, Sam Howard has always maintained that providing PR for fintech companies isn’t rocket science, however it is a bit tricky. Not only are you, the PR, the only person in the brain-chain without a PhD or three, which can leave you feeling perma-insecure; but also ‘tis hard to tell good stories if there are no good stories to tell.
Actually no news isn’t good news – but owing to the nature of the deals, it is not unusual for a small or a start-up fintech company to have just a few client signing announcements a year and those signings usually fall into three categories:
- The no comment: you may not mention the bank in anyway shape or form – great thank you sooo much for that one.
- The vanilla bean: you can prepare something but the details are to be so vanilla and that the quote so bland that it’s barely worth the effort.
- The never never: You get the go ahead on the Friday night, write it on a Saturday, it gets signed off by your team on the Sunday and it’s with the bank for approval first thing Monday morning. And there it will stay, stuck in the corporate food chain awaiting sign off forever more, never to be seen again.
Five tips for getting a bank to sign off a press release
Over the years, working for a fintech start-up, then a fintech multi-national and then a fintech PR agency, these are the tactics I have seen work. It’s a bit of a team effort:
- Incentivize your sales people to negotiate press as part of the contract. Cash bonuses for press releases and double again for a case study, seems to work well enough
- Incentivize your bank by giving them a discount in the contract if they agree to do press, get dates.
- During the sales process and the implementation, stay close to your champion in the bank and work directly with them on the story, using them as the spokesperson, and making sure your story shows your champion as the pioneer they truly are.
- Have the release written and ready to go so that it can be slipped under the nose of your happy, happy client the day everything goes live ahead of schedule and under budget.
- Make the release hardworking and insightful tell the story of the partnership between your company and the bank. Do not dwell on what was wrong in the first place, be realistic no bank is going to sign off a story that goes, ‘well it was just chaos here till you guys showed up’. And keep the quotes real and relevant not an unadulterated and shameless plug for your company. This will make it easier to get sign off, and more credible with the journalists, on whom you ultimate depend to publish it.
What if you hit an absolute wall and can’t get the bank to talk no way no how?
Rather than issuing a no name press release, which somewhat reeks of desperation, consider going down the analyst relations route where your client can freely talk about the project and its successes to the industry analysts under the comfort of NDA.
Are you stiing comfortably? Then I’ll tell you how I fell into PR
Once upon a time, many years ago, there was a very bored admin manager who worked for a software development company. She found her job excessively dull, and so would spend much of the day quietly sitting at her computer, writing short stories. For some six months, she (barely) managed to perform her admin duties while working tirelessly on her craft, and soon enough her stories started to get the literary recognition she so desperately craved.
But then one day, the CEO – an entirely overly motivated individual, in her opinion, whom she’d successfully managed to avoid in the main – summoned her to his office. Her heart sunk when she saw upon his desk a sheaf of printouts, not of the latest tedious project timelines, but varying drafts of her stories and poems.
She braced herself to be fired: what cared she? She would live in an attic, make a career move out of being miserable and thin, wear fingerless gloves and die a fine and beautiful death of consumption.
“These are rather good,” he said evenly.
Momentarily thrown off balance but determined to remain on the offensive, she replied, “Well if you can’t give me enough to do, I have to get through the terminable day somehow.”
“My fault entirely,” he concurred with a half-smile.
She glared at him balefully. Was he just passing time waiting for the HR lackey to come in and do his dirty work for him?
Apparently not. “So I was wondering if I might prevail upon you to apply your talents to writing a few stories about the company, our solutions and how we help our customers grow and so forth…”
“Oh, I don’t think so,” she interrupted, immediately seeing a flaw in his plan. “They’d be so boring: who would want to read those?”
“Ah, yes,” he replied with a mere smidge of a vindictive twinkle in his eye. “But it would be your job to make them interesting, tell a good story, engage the reader and what not. Then, maybe, you might talk to a journalist or two, see if you could interest them in writing their own stories about us…”
She looked at him aghast. Why, just the thought of it made her feel queasy. “PR! You want me to do PR??” How very dare he? ”I shan’t do it, I shan’t! You can’t make me!” she wailed.
“Well, no need to agree the brief right now. Why don’t you have the rest of the afternoon off to think about it?”
She grabbed her papers from his desk and stalked with great dignity from his office, not trusting herself to speak.
And so it was that after a sodden gin review of her overdraft facility, our heroine reluctantly conceded that just possibly there were worse things one could do for a living than telling corporate stories.
She’d just do it for a few months before she went and found herself a proper job or, at least had saved enough for a deposit on an attic and a pair of fingerless gloves…
And so, best beloveds, thanks to the thankless intervention of a remarkable CEO, I began my twenty year, hugely enjoyable and vastly rewarding career in PR.
Funny that now, ‘PR is all about telling stories.’ I thought it always was…
Eria Odhuba, resident analyst relations lead reviews the ‘dos and don’ts’ for getting the best out of the mighty trade show.
|Sibos – comes round quicker than Christmas|
So I’ve just been to a couple of big industry events, and it got me thinking about the preparation exhibitors need to do to make them worthwhile. I am going to use Sibos 2014, this year in Boston, as an example here as I have shed so many tears getting clients Sibos-ready over the years.
Obviously there are many exhibitors who have got Sibos running through their veins and if they had time, could write this post with their eyes shut, but here’s a guide for Sibos newbies, or a useful checklist for the seasoned salts.
What are some of the issues with events like Sibos 2014?
- ROI – if you’re going to exhibit, you want to make sure you recoup your costs and some! It’s a very expensive line item, the return needs to be quantifiable and equally impressive.
- Poor preparation before the event – If you don’t plan your communications and resources properly, you will look amateurish and it will show compared to those companies that have this event down pat.
- Being heard above the white noise – if you don’t know your key message, if it’s not relevant, fresh and exciting, then you won’t get heard.
- Thinking lead generation begins at the event – People come to Sibos to continue conversations, not to start them, Sibos needs to be the culmination of a campaign that results in a face to face meeting.
- Recruitment consultants – not much you can do about this. I remember a consultant at Sibos who told me, at a party, that he had received or processed CVs for about 25 people in the room. The recession is over; it’s a seller’s market.
What should you NOT do before Sibos 2014?
- Panic (!) i.e. wait until it is too late before preparing for the event.
- Keep your head in the sand and ignore industry trends leading up to the event – you need to know what pain delegates are feeling so you know what your products and services best address it.
- Miss the opportunity to try and connect with signed-up delegates before the event (more on this later).
- Prepare conference material that is bland or off topic.
How should you prepare for Sibos 2014?
- First of all, you need a three-month activity timeline with specific actions and deadlines, allocating responsibility for each action. So, with Sibos 2014 in October, you need to start planning now, July.
- If you’re reading this and you haven’t booked your hotels and flights yet, suggest you stop reading right now and get on it 🙂
- To stay ahead of the game, read the Sibos 2013 summary by Aite Group here and other post-event summaries.
- Read Sibos Issues and other news to understand what people will be talking about this year. Don’t repeat the last year’s messages or themes – find something new and relevant to attract attention in the lead up to the event. If you can’t figure out how to articulate your value proposition, get help.
- Think how this event falls into your sales funnel. Identify key prospects from the delegate list, and plan multi-step communications or lead generation activities to get them to want to talk to you at the event. Each step should add value to the relationship, so use content to increase interest. Get delegates to self-select themselves to contact you for a meeting based on the content you have provided BEFORE the event.
- Plan your press and industry analyst engagements now. Influencers don’t have time to speak to everyone so make sure you know how and what to pitch to them. If you don’t know how, get an expert in. Don’t be unprofessional about this and ignore the value of great influencer meetings.
- Focus on meeting influencers you rarely see, rather than those that are down the road from you who you can catch up with any time.
- Go for feature opportunities that get you in the news the week of Sibos, and make sure whatever news announcement you have is actually informative and not simply white noise.
- Contribute or link to pre-event social media communications to help build your profile before the event.
- Plan your post-Sibos steps now – what content or steps will you follow up with and who will be responsible for these steps? What you do after the event is even more important if you want to convert prospects into sales?
What to do at Sibos 2014?
- Make sure you set time and proper spaces aside to speak to delegates you have meetings planned with.
- Document your meetings and make someone responsible for managing follow up actions.
- Plan how each contact will be communicated with after the event and when.
- Get someone to walk the floor to see what other exhibitors are displaying. You need to understand what competitors are saying and how they might be getting their message across.
- Have content that is sharp and precise enough for someone to read in two minutes that would make them want to ask questions.
- Enjoy yourself; ergo no rest for the wicked!
Because B2B commercial copy is for intelligent business consumption, it’s tempting to make it sound grand, but this inevitably makes consumption so much more painful.
Here’s my top tips for edible copy:
- Who are you writing for? Write for one person. Assess their motivation for reading your copy. Will it enlighten, inform, entertain, motivate them to act? Think what’s in it for them. Assess the time they have to read it, their knowledge level.
- Get the knowledge: Sounds obvious, but you need to know/understand at least as much as your reader. If you don’t have the knowledge go and get it. Research it, ask questions, find an expert, get them to draft it if necessary.
- Get it all out: If you find yourself staring at a blank screen then just write anything and everything down to do with what you are trying to say, from this you can create structure, and extract key facts.
- Ask questions which can provide the structure: Ask yourself some basic questions like, Who, Why, When, Where, What and answer them in bullet format. Leave the questions as subheads for now. Arrange the questions into a structure that will form the basis of your logical/persuasive argument.
- Does it serve your purpose as well as theirs? Your copy must add value to the reader but does it also support your company messages, make sure your copy always underlines a key value proposition. If it doesn’t why are you writing it?
- So what? Then read it through, anything missing? Ask yourself, ‘Why do I care?’, ‘So what?’ and, ‘What’s so exciting about that?’ If you’re bored by your own copy, imagine how everyone else feels. (At this stage this might be the longest your copy gets, from here on in we are cutting it back).
- Show not tell: De fluff: Use objective observation and facts to show. Not subjective adjectives and opinion to tell. You are not penning a love letter, but presenting the facts in a compelling fashion. Imagine the building is on fire and you cannot leave the office until you have shouted the story from the window. This exercise will ensure you only use the words you need, to say what has to be said and no more. When it comes to strong copy, a couple of carefully crafted sentences are more effective than a whole paragraph of jumbled thoughts.
- Every time you review it, cut it: Aim to reduce word count every time you review the copy (3- 5 times) with decent breaks in between sessions to allow the creative brain to mull over the project, find the right phrase, the most perfect word.
- Don’t force it: Could you sneak your copy into conversation, would it sound natural, or would people think you had gone crazy/swallowed a dictionary/been indoctrinated by brand Y. Be kind to your reader, make your copy easy to read!
- Read final draft out loud: Now print off the copy and read it out loud. This really helps spot the ‘silly’ mistakes that your eyes haven’t seen but your tongue will trip over. It will also help you with punctuation.
You can download these tips in a handy pdf if you like to keep on your desk and front of mind.