How newsjacking can catapult you to “Finance Thought Leader” status
Before we start, there are two things that we need to clear up. What is thought leadership and what is newsjacking?
Thought leadership
This is the expression and execution of ideas that prove you are an expert in your field. In this instance, it’s finance. Many business leaders strive for this title, but it’s one that takes dedication, knowledge, strategy, education, confidence, motivation, tonnes of get-up-and-go, and of course – leadership. Basically, all of those business-ey buzzwords that prove you’re the go-to expert in the industry.
Oh, and apparently, you can’t call yourself a thought leader, either. Other people have to bestow the honour upon you.
Newsjacking:
This is when businesses take advantage of news stories or current events to promote or advertise their product or brand. It’s a digital PR strategy that requires spotting opportunities in real time in order to put yourself at the centre of conversations. And it can be especially kind to the finance industry if you’ve got in-house experts that are readily available to share their insights, facts, opinions, and exclusive data on a range of topics within the field. Economic news? Stocks and shares? Personal finance? You name it, it can be newsjacked.
Now they’ve been briefly described, we’re able to cross-reference the two and explain how the PR tactic can help to position finance clients as trustworthy and credible. (Oh, we do love a buzzword.) Or, catapult you to thought leadership status.
Why we love Newsjacking for the finance industry
Newsjacking is a 24/7 digi PR tactic. Of course, it doesn’t just apply to the finance industry – it works with an array of others, including retail, travel, eCommerce, etc, but here’s why we love using it for our finance clients:
The finance industry can be very unpredictable
There’s always a need for experts to be on hand to explain the changes to the public and help them digest and dissect them. Plus, experts need to be able to quickly address how said changes will impact both consumers and businesses and offer educated and productive advice.
The finance industry can be hard to understand
Therefore some of the economic jargon used may need to be put into simpler terms. Having in-house industry experts readily available in this instance is also imperative.
And what do both instances resonate with? You guessed it – thought leadership. So, when newsjacking in the finance industry, there are a few different types that are often preferred, including:
Reactive:
Say a breaking news story in the banking, retail, healthcare or travel industry arises, for example. As a finance company, you can provide expert commentary on the story from a financial perspective – the furlough scheme during lockdown or COVID as a whole were prime newsjacking opportunities. Whether finance experts explained the furlough money jargon in a more accessible way, or just provided tips on how to save during the pandemic, there were plenty of financial spaces to occupy within the stories that broke daily.
Thought Leadership:
OK, let’s talk about this in terms of it being a reactive PR strategy, because it can be super beneficial if you want to position your brand or yourself as an expert in the finance industry. As well as the OG reactive part (providing an expert commentary on timely breaking news stories), you can also go one step further and offer financial advice. To give a seasonal example, you could supply useful info on returns or gift cards during the build-up to the Christmas period. And voilà, you are now entering thought leadership territory.
Planned company reporting:
This is when finance experts comment on the earning results of large companies. For example, what they did well/what they could do better/how you can apply these strategies to your own earnings.
Of course, utilising each newsjacking opportunity with quality intelligence (don’t bother if your intel lacks substance, expertise, or context) will leverage your overall popularity levels into achieving thought leadership status.
So you wanna be number one?
At the end of the day, you want to be *the* finance expert that people turn to when they have queries. The fact that someone wants your advice, or they want you to answer their questions suggests that you’ve solidified yourself as the most credible and authoritative source. It’s basically your version of being number one in the charts. And FYI, this recognition also leads to the natural next step – using your services.
Newsjacking and thought leadership go hand in hand and with due diligence, it really doesn’t take much to keep up with the news.
