Answer to Question #270253 in Marketing for Lala Patel

Question

Develop a Public Relations campaign for a Bank of your choice to highlight the 

“Digital Banking” edge that your Bank offers

Answer 1

The campaign's goals would be to position MyBank as a corporate thought leader in personal finance, demonstrate financial expertise of MyBank advisors, reach out to Millennials aspiring to financial independence and security, affluent investors, and SMEs, and attract top talent by telling the MyBank story of being a great place to work with a distinct strategy and highly qualified people.

The team devised an integrated public relations strategy that included positioning spokespeople as thought leaders and subject matter experts to raise brand awareness among target audiences, leveraging seasonal topics of conversation for spokespeople, such as tax season, RRSP season, and charitable donations, back to school, and wewsjacking trending news stories for personal finance stories, such as Trump's presidential election, NAFTA, and the Vancouver housing market. In addition, it required merging MyBank's market surveys into angles on media articles, as well as creating multimedia assets as part of pitch tales, such as images, employee engagement statistics, and videos.

MyBank's team analyzed success measures for each quarter and year to determine the effectiveness of their efforts, including media outlet reach, comparative ad value, and the number of earned media placements. One of the campaign's primary strategic moves was to recruit local residents. "We recruited millennials, moms, and daughters to speak on camera about financial literacy for a number of the daily publications because they wanted average citizens to speak," she says.

The lack of "fresh" news to share with the media would be a major stumbling block to the campaign's success. As a result, we'll work with MyBank's communication team to connect spokespeople with the proper reporters and producers, based on seasonal issues and periodic corporate announcements. This will require offering the correct hot news stories at the right moment. We need to distinguish out among the slew of personal finance experts, bloggers, and other influencers. Our PR goal is to tell this story and share financial knowledge with the general public through a variety of local and national media outlets, relying on our company's differentiator of developing deep and long-lasting relationships with our clients and providing personalized and proactive financial planning tailored to each client in a luxury banking environment.

One of our specialties will be to set ourselves apart from the competition by bundling broadcast and print stories in the same way that talent agencies package deals for studios. To get a retirement-related story, for example, the team will give the angle, interviews (a MyBank spokesperson and a local citizen), and a filming location, making it simple for a writer to pick up the story. As a result, this story received print and internet publicity, with a video element on the web piece. Another potential stumbling block for the team is the media. While MyBank's financial advisors have received media training, they will need a refresher on how to express warmth and personality on camera. This training will also assist new advisors who are being recruited into the organization, since they will be identified as prospective spokesmen. A full-day training session will be provided by MyBank's Communications Director, which will help financial advisers develop additional skills to become effective thought leaders for the brand-awareness campaign.

Another issue with undertaking media outreach for this campaign could be the time difference between different parts of the world. We will rely on a live PR roadmap incorporating industry dates, consumer calendar dates, and pitch subjects to provide a strategic picture of their work at a glance in terms of techniques for continuous PR implementation. Regular reporting will assist all parties in staying on track.

These major campaign findings will assist our firm with its future financial services campaign—and demonstrate why MyBank and its customer will be successful. It's all about the plot: The pitch's power is built on our understanding of the media ecosystem and the client, as well as our creative ability to spot trends. There is no such thing as a pitch template. People will come to you if you do it well. Persistence is the next best thing: Persistence is the next best thing. If you don't succeed the first time, try again. We're trying to convince the media to cover our clients in a crowded market, so it may take some time, but if we have a compelling story that's well-matched to reporters' beats, we'll succeed. Be flexible in your approach: the status quo only lasts so long. Review techniques, approaches, and narratives with a flexible mindset. All teams are encouraged to be creative, and they are pushed to pivot if necessary.