In financial services, many firms are focused on providing bottom-line value to their clients. What most of them forget is how to properly communicate that value.
A good PR strategy has a greater impact on the bottom line than most firms realise. This book shows how to put in place an effective PR program in the financial services industry, and how great communications can add significant value to a firm.
Between them, Claudia Pritchitt and Leeanne Bland have over 50 years’ experience in public relations, communications, and marketing. Here, they explain the key tools needed in an effective communications strategy as well as why plain English is imperative in the jargon-heavy world of financial services.
It’s the job of a journalist to bring light to stories and people, but it’s not often they are in the spotlight.
At PritchittBland Communications we run a special blog series where we put the spotlight on Australian financial journalists and dig a little deeper to find out where they’ve come from and what drives a good story. See it from their perspective and read the interview with our next guest, James Gruber, editor at Firstlinks and Morningstar.
Why did you decide to go into journalism?
I studied history at university and loved analysing big events that impacted the world. I wanted to cover these events as a reporter, as well as to travel the world.
I just missed out on an ABC news cadetship, but they hired me soon after anyway, and not long post that, I was working interstate and eventually overseas.
What about the finance industry interests you the most?
Beneath the numbers, finance is about people and ideas. The market is a kaleidoscope of human emotion: joy, greed, envy, ego, stupidity, and despair.
I also enjoy getting to the bottom of different theories and problems, and finance throws up plenty of these.
Lastly, I like passing on any knowledge that I’ve gained in markets to others, so they can avoid some of the mistakes that I’ve made.
What are you looking forward to seeing happen in the financial landscape in the next 5 years?
I’m intrigued as to how this plays out. Unfortunately, as with all overhyped areas, there are likely to be a lot of unwitting victims too.
What makes a good story?
I am a commentator rather than a reporter nowadays, though the elements of a good story apply to both and usually include some of the following: people in high places, greed, secrecy, deception/fraud, complexity, and a puzzle.
Recently, I watched a documentary on Bernie Madoff, and that had it all: a former chairman of NASDAQ who deceived his investors and regulators for years by committing an unprecedented Ponzi scheme and fraud.
What advice would you give to executives when they are talking to the media?
Four things:
1) Be authentic.
2) Be humble. Don’t be afraid to say, “I made a mistake”, “I should have done that differently”, or “I don’t know”.
3) Choose simple over complex. Warren Buffett isn’t only well known for his wealth, but also because he’s able to translate complex finance matters into one liners and easy-to-understand stories.
4) Stories and images beat information every time. Whenever possible, put an idea into a simple story or an image.
