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Recently updated on October 6th, 2022
Launching a new fintech product can be difficult. You need to build credibility for your product, and that takes time and effort. One of the best ways to do this is through public relations. An effective PR campaign can help you reach your target audience, and build trust with potential customers. In this blog post, we will discuss how fintech companies can use public relations to market their products. We will also talk about some of the best fintech PR agencies out there, and how they can help you achieve your marketing goals!
1. What Is Public Relations And How Can It Be Used To Market A New Product Or Company
Public relations (PR) is the practice of managing the spread of information between an individual or an organization and the public. PR is used to build credibility for a fintech product, and create trust with potential customers. In order to launch a successful fintech product, it is important to have a strong PR strategy in place.
There are a number of ways that fintech companies can use PR to market their products. One way is to pitch stories about the product to media outlets. This can help generate buzz and awareness for the product. Another way to use PR is to hold events or webinars where potential customers can learn more about the product. This is a great way to build interest and create excitement for the product launch.
In order to create a successful PR campaign, it is important to partner with a reputable and experienced fintech PR agency. The best fintech PR agencies will have a deep understanding of the fintech industry, and they will be able to develop creative and effective campaigns that achieve your marketing goals.
There are many different types of PR, but not all of them will be relevant for a new fintech product. The most important types of PR for a new fintech product are:
- Media Relations
- Influencer relations
- Analyst relations
- Thought leadership
Media relations is all about getting press coverage for your fintech product. This can be done by sending out press releases, pitching story ideas to reporters, and arranging media interviews.
Influencer relations is all about building relationships with influencers in the fintech space. These influencers could be bloggers, YouTubers, or anyone else with a large online following. You can build relationships with influencers by sending them information about your product, giving them exclusive access to new features, and offering them discounts.
Analyst relations is all about building relationships with analysts who cover the fintech industry. These analysts could be from research firms like Gartner or Forrester, or they could be independent analysts. You can build relationships with analysts by sending them information about your product, arranging briefings, and attending industry conferences.
Thought leadership is all about positioning your fintech company as a leader in the industry. This can be done by writing blog posts, giving speeches at industry events, and conducting research studies.
If you’re going to launch a fintech product, it’s important that you identify the right media outlets to target with your PR campaign. There are a lot of fintech publications out there, but not all of them will be interested in your product.
To figure out which media outlets are the best fit for your fintech product, you’ll need to do some research. Start by looking at the media outlets that have covered similar products in the past. Once you’ve compiled a list of potential target media outlets, reach out to each one and introduce your product.
If you can get even just a few positive press mentions from top fintech publications, it will go a long way in building credibility for your product.
One of the most common and effective ways to market a fintech product is by issuing a press release. A press release is an official statement from a company that announces something newsworthy, such as the launch of a new product.
When writing a press release for a fintech product, it’s important to include key information such as the product’s features, how it solves a problem for consumers, and why it’s different from other products on the market. You should also include quotes from company executives or customers who have used the product.
Once you’ve written your press release, the next step is to pitch it to journalists who cover fintech topics. You can do this by sending them an email or reaching out to them on social media. When pitching your story, be sure to personalize your message and explain why you think the journalist would be interested in writing about your product.
If a journalist decides to write about your product, it will likely appear on a credible website or publication, which will help build trust and credibility for your fintech product.
No fintech product or company is perfect, and you will inevitably face some degree of negative feedback or criticism. While it’s important to be proactive in your fintech PR efforts and put out a strong, positive message about your product, you also need to have a plan for responding to negative feedback.
The first step is to listen to what your customers are saying. If there is a legitimate criticism, take it to heart and see if there is anything you can do to improve your product. If the feedback is unfounded or simply unfair, you’ll need to decide how to respond.
It’s important to remember that even negative feedback can be an opportunity to show your fintech company’s commitment to customer service. If you handle criticism well, it can actually improve your public image and build trust with potential customers.
But if you’re not careful, negative feedback can also lead to a PR crisis. So it’s important to have a plan in place for how you’ll respond to criticism, both online and offline.
If you’re not sure how to respond to negative feedback or manage a PR crisis, consider working with a fintech PR agency. They can help you navigate these waters and protect your fintech company’s reputation.
Once your fintech PR campaign is up and running, you’ll want to make sure that it’s actually having the desired effect. The best way to do this is to measure the results against your original objectives.
There are a number of different ways to measure the success of your fintech PR campaign, but some of the most important metrics to keep an eye on include:
- The number of media placements you’ve secured
- The reach of your media placements (e.g. how many people have seen or heard about them)
- The tone of the coverage (positive, negative or neutral)
- Any direct enquiries or sales that can be attributed to the campaign
By regularly monitoring these metrics, you can make sure that your fintech PR campaign is on track and adjust it if necessary.
If you’re not sure how to measure the success of your fintech PR campaign, or you need help getting started, get in touch with a specialist fintech PR agency. They will be able to advise you on the best way to measure the success of your campaign and help you to achieve your objectives.
When it comes to marketing a new fintech product, using PR is essential. By building credibility and relationships with key media outlets, you can generate positive buzz and word-of-mouth marketing that will help your product take off. Advertising and other forms of paid promotion are also important, but they should be used in conjunction with strong PR efforts to get the most out of your marketing budget. If you’re looking for an experienced team to help you launch your new fintech product, look no further than Upstage Media. We have years of experience helping startups and established companies alike create successful PR campaigns that drive sales. Contact us today to learn more about how we can help you take your business to the next level!