7 Things to Look for When Choosing a Fintech PR Firm.

Posted on Jul. 09, 2024
Fintech + Financial Services
Public Relations

Choosing the right PR firm to represent your company can be daunting. You need a firm that understands your needs, is capable of meeting them and has the right team in place to communicate with the media and, by extension, the rest of the world. 

For fintech and other finance-related companies, partnering with PR firms that specialize in your niche is essential. The fintech sector demands expertise in both finance and technology, requiring a deep understanding of the unique messaging, media landscape, communication practices and regulatory challenges specific to the industry.

Fintech PR also requires a blend of creative thinking and strategic analysis, combining the innovative spirit of Silicon Valley with the precision of financial analysts. Finding this mix of skills is challenging but a must if you’re to achieve your desired results.

To help you make an informed decision, we’re looking at seven things you should consider when choosing a PR firm for your fintech company.

1. Experience

Does the team you may work with have the collective experience to meet your needs? When evaluating a PR firm, consider the team’s collective experience in the fintech sector in addition to their general public relations experience.

Look for firms with a proven track record of successful campaigns and strong relationships with journalists covering financial technology. Do they have other clients in or adjacent to your specific niche? Recent client placements in desired publications? Experience and the attendant expertise often translates to effectiveness.

Key questions to ask:

  • Have they worked with companies similar to yours?
  • Can they provide examples of successful campaigns in the fintech sector?
  • Do they have testimonials or case studies showcasing their expertise?

2. Capacity

How many team members will be regularly working on your account? It’s important they aren’t just window dressing at the presentation.

Evaluate whether each team member has other clients they need to help and if they have the right tools, such as media databases and tracking systems, to deliver timely and usable results. A team that is overcommitted or lacks resources may not provide the service level you need — and they certainly won’t show up at meetings full of fresh ideas and perspectives.

Key questions to ask:

  • How many clients does each team member handle?
  • What tools and technologies do they use to manage PR campaigns?
  • Can they demonstrate their capacity to handle your account effectively?

3. Approach

Is the PR firm you’re talking to strategizing the same way for your five-person company as they would for a large corporation? Your needs are unique, and a good PR firm will customize its approach accordingly.

Evaluate whether their proposals are realistic for your budget and stage of growth.

Key questions to ask:

  • How do they tailor their strategies to different-sized clients?
  • Can they provide a customized PR plan for your company?
  • Are their proposed budgets and strategies aligned with your financial situation?

4. Promises

Is the team you are considering guaranteeing coverage in all the best publications? Do they tell you that a story about a small round of seed funding is guaranteed to land on the front page of The Wall Street Journal?

Be wary of big promises over things they ultimately cannot control. A reputable PR firm sets realistic expectations from Day One. Enthusiasm and ambition are good, but hyperbolic promises are a big red flag.

Key questions to ask:

  • What kind of coverage can you realistically expect?
  • How do they manage client expectations regarding media coverage?
  • Can they provide examples of realistic outcomes from past campaigns?

5. Service 

Is the team eager to serve you, or do they act like they are doing you a favor? Pay close attention to how they answer your questions. If they aren’t prompt, courteous and transparent while trying to win your business, it’s unlikely they will be with you as their client.

Key questions to ask:

  • How responsive are they to your inquiries?
  • Is communication with them clear and transparent?
  • Can they provide references or testimonials about their customer service?

6. Transparency

Is the PR firm transparent and honest in their communications and advice? It’s crucial that the agency you hire sees themselves as advisers in every sense of the word. They’re not there to tell you “yes” all the time. They’re there to provide genuine counsel informed by their years of cumulative expertise.

Key questions to ask:

  • Are they willing to offer honest feedback, constructive criticism and alternative strategies?
  • Can they demonstrate a history of acting as trusted advisers to their clients?
  • Will they work collaboratively with other teams within your company to build consensus and gain buy-in?

7. Innovation 

Does the PR firm demonstrate innovation in their strategies and campaigns? Fintech PR requires forward-thinking and novel approaches to stand out in a crowded market. An innovative firm can develop unique and engaging campaigns that capture the attention of your target audience.

Key questions to ask:

  • Can they provide examples of innovative work they’ve produced?
  • How do they incorporate innovative thinking into their PR strategies?
  • Do they have a track record of employing new techniques to achieve client goals?

Choosing the right PR agency for your needs

There are many metrics to judge when choosing a PR firm to represent your business and guide your media interactions. Let these seven key pillars navigate your decision-making process to find the right fit for your company.

Partnering with the right PR firm can transform your brand’s credibility and visibility, exposing you to new audiences. If you’re ready to take your communications to the next level, contact us to find out Caliber can help you achieve your objectives.

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