Earlier this year, media database company Propel conducted a survey that found reporters only respond to 3.27% of the pitches they receive. Even more, the report found that journalists only open about 29% of the pitches they receive each day. That means the average PR campaign will need to send 31 pitches to get a response from one of them.

Does that mean that PR should turn into a cold-calling, mass pitching machine? No!

Digging deeper into the results, Propel compared the effects of three firms with much higher success rates than the average. These PR professionals scored response rates six times higher – closer to 19%. The secret was that these firms took the time to customize pitches that would be more likely to resonate with the reporter.

Based on William Mills Agency’s decades of serving the financial services industry, we know that success in media relations comes from marrying the story a company wants to tell with the reporter’s needs. Only by understanding a reporter’s audience, interests and needs can a PR program successfully and consistently build results that grow a company’s brand.

To cut through the clutter and become one of the three percent, companies should consider the following:

1. Create exclusive stories for target media. Just as fintech companies compete, the media do, too. Nothing sets a pitch apart more than an exclusive story that no one else will have.
2. Build relationships. Just as we all ignore the spam emails that come trying to sell something from people we’ve never interacted with before, reporters are more likely to respond to stories from people they know and trust.
3. Make it relevant. Don’t pitch a credit union publication a story on a large national bank. Every reporter and publication has a targeted audience and range of topics they are interested in. Know the reporter and don’t waste their time with junk.

Is it easy being one of the three percent? No.

It takes hard work, research, and the time needed to build compelling content and strong relationships. But the payoff is worth it. Companies who consistently receive positive media coverage become the face of their industry, reach thousands of prospects and build a reputation as a leader in their space.

If you are ready to become one of the three percent, reach out to us to find out how we can take your story and make it appealing to financial services and fintech media.