All the news that’s fit to print often occasionally finds its way into business marketing. Fresh news makes for engaging content that is relevant and cutting edge, and it can show your audience that you’re on top of the most recent trends.
For financial services firms, however, news-pegged marketing can create some pretty significant challenges. The market, the economy, and all things money can change in the blink of an eye. So a blog article or a social post about a current event could become outdated in the time it takes you to write it.
That’s why the ability to quickly react to news can position a brand as knowledgeable and responsive, but it might not always be your best bet.
Today, we’re going to look at some pros and cons of putting news to work in your financial services marketing.
News-Pegged Marketing: The Pros
Marketing on the news allows brands to create messages that resonate with what’s happening in the world at that very moment. For financial services firms, it might mean addressing current market trends, important regulatory changes or economic forecasts.
Done right, it can position you as a thought leader, boost your credibility, and attract a wider audience.
For instance, if there’s a significant shift in the market, a quick blog post or social media update addressing it illustrates how your firm has its finger on the pulse of right now.
News-Pegged Marketing: The Cons
The very things that make news in marketing appealing are also the things that make it risky.
When things can change at any given moment, content that’s highly relevant today can be obsolete by tomorrow — or even later this afternoon.
It’s not just about keeping things fresh, though. It’s also about maintaining the integrity of the content you’re sharing.
Imagine spending the time and/or money creating a blog post about the potential for a market downturn and extolling the virtues of a conservative investment strategy during times of doubt. The advice might be sound, but if the market suddenly rebounds, the timing of the advice won’t be received well. Thus, you don’t just risk wasted resources — you risk a smudged reputation. In an industry where trust is everything, pushing out obsolete or misleading information, no matter how well-intentioned, isn’t a good look.
Compliance Considerations
Compliance concerns make news-pegged marketing even more dangerous for financial services firms. Regulatory bodies have strict rules about what can and can’t be communicated to your audience, especially as it relates to market predictions and financial advice.
There’s a very, very fine line between providing valuable insights and making statements that might be construed as financial advice, which could then lead to compliance issues. Financial services firms should always have a vigorous review process in place to make sure they’re on the right side of the rules.
Striking the Right Balance
For financial services firms, the key to news-based marketing is balance. You need to know when to go all in and when to hold back. Big market moves might warrant a few social media posts or a quick blog update. But you must be careful about overcommitting to content that could become obsolete before it ever had a chance to gain traction with your audience.
Our advice: Use news sparingly in your marketing strategy. It’s best to create evergreen content that can stand the test of time while sprinkling in news-related updates when relevant.
The Bottom Line on News-Pegged Marketing
When used responsibly, current news can help boost your financial services firm’s reputation and client engagement. But in an industry when the stakes are high and the landscape can change at the drop of a hat, “better safe than sorry” is the motto of the day.
Is your firm looking for a marketing agency with a proven track record in the financial services field? Mischa Communications is ready to show you what we can do! Get in touch today.