The Five W’s of Public Relations for Financial ServicesCategory

Financial education is gaining traction across North America, with 35 U.S. states now mandating personal finance education and Ontario set to introduce financial literacy programs in elementary schools by 2025. This increased emphasis reveals a critical knowledge gap and presents financial services with a unique challenge: building awareness and clearly communicating their value to consumers. Effective public relations (PR) can bridge this gap, particularly in today’s complex regulatory landscape, where recent tax proposals on capital gains in the U.S. and Canada underscore the need for clarity. If your service benefits consumers amidst these changes, PR can help communicate your value. Here are key questions to assess your company’s PR readiness:

Who is Your Target Audience?

Different audiences require tailored strategies—what resonates with a parent of five differs from what matters to a small business owner. While your service may cater to both, it is crucial to identify your target markets so PR can deliver the most effective messaging to the right audiences.

What is Your Core Mission?

"What does your company do?" This seemingly simple question can be surprisingly challenging to answer concisely, especially when you are immersed in day-to-day operations. However, it is essential to hone in on your company’s core mission, as that becomes the keystone to all other activities.

Where Do You Want to Be Seen?

Hand-in-hand with knowing your target audience, consider where you want your brand to appear. Today’s PR reaches far beyond traditional print, digital and broadcast media. There are a multitude of ways to build reputation outside of the news cycle, including conferences, industry awards, thought leadership on LinkedIn, TikTok content and more.

When is the Right Time?

PR is not a tap that can be quickly turned on and off, it is a steady stream that builds momentum. It is always better to start the conversation early.  A good PR partner can assess your readiness and suggest necessary steps, such as timing a launch with a funding announcement or major partnership, or ensuring your spokespeople are media-ready.

Why are You Different from Others in the Industry?

Financial services are nuanced, which can make it challenging for outsiders to distinguish one brand from another. Understanding your key differentiators, whether in services, origin story or company culture, gives PR a hook to showcase how your brand stands out.

Once you have answers to all these questions, the next step—A.K.A. the how—is finding the perfect public relations partner to bring your story to life. To see how Talk Shop has helped countless brands, including RESP company Embark, check out a selection of case studies here.