Imagine your fintech wants to announce a new product, partnership, or award. You might think a press release is your best option, but this isn’t always the case. It’s important to ask yourself these two questions before you write it:
1. Is this news? By definition, news is “newly received or noteworthy information.” News that happened over a year ago will not be considered relevant unless a company can find a fresh angle, such as increased adoption or growth. If this information isn’t “new,” it might be worth including as a proof point or example in a thought leadership piece.
2. Is this substantial news? This definition may be different depending on the fintech company and if this news is meaningful to clients, stakeholders, partners, and/or investors. Examples of “substantial” news could include a new or expanded partnership with a fintech or financial institution, annual milestone, award win, new leadership change, new product/solution or an enhancement.
If you’ve answered ‘yes’ to both of these questions, consider this list of Do’s and Don’ts. It builds on our previous list, which can be found here.
Do…
1. Lead with the news.News should be addressed in the headline and first paragraph (i.e., your company announced the product today). Your news should be straightforward and obvious to your target audience.
2. Tell a story.Find a way to tell it in an interesting way. A press release isn’t a sales pitch, it’s a story. This story could be around the bank or credit union’s decision to partner, how an award supports their company’s mission, or why a company had a record-breaking year. The opportunities to tell a story are endless, as long as the content remains short and sweet.
3. Highlight the financial institution.This tip is especially relevant for press releases that announce a new product/solution or enhancement and a new partnership. Through our experience, we’ve found releases that include the name of the financial institution in the title, subtitle or first paragraph and speak to the benefits typically perform the best. Media want to hear how the bank or credit union is leveraging the technology and how this supports their strategy.
4. Include quotes from clients and partners, if applicable.These types of quotes can show alignment with the partnership and/or help validate a new product or solution. If a company can’t have either on the record, it’s worth tapping into analysts and/or consultants for third-party validation.
5. Use research to support your points – and don’t forget to link it.Research can come in a variety of forms, including third-party or the company’s proprietary data. Anything a company can do to prove how the partnership and/or solution helps solve a key industry challenge can make the news more relevant.
6. Make sure your SMEs are available for interview requests.Reporters will often ask for interviews with the company, financial institution, and/or partner mentioned in the release. Knowing if SMEs are willing and available to take interviews will be important when determining distribution plans. If you know the SMEs availability before the release, that can help with scheduling.
Don’t…
1. Write a product brief.Press releases aren’t product briefs, but news. Refrain from providing a deep dive into the technicalities of the product/solution. Information like pricing, implementation process, and specifics about integration shouldn’t be included.
2. Reveal sensitive information.Remember everything included in the press release is public record and fair game to reporters. If you’re aware of any sensitivities, be sure to prepare a frequently asked question (FAQ) document in advance and prepare your SMEs accordingly.
3. Provide timing unless it’s 100% confirmed.Companies often make the mistake of committing to a launch date in a press release. This can create issues if the product isn’t developed in time, or they move in a different direction. Unless your company is 100% certain, use generalities instead.
4. Use abbreviations or jargon without defining them first.The financial services industry is full of abbreviations and jargon – and it can be very confusing to someone who isn’t as familiar. In a release, it’s best practice to first state the name then abbreviate it.
Press releases are only part of an effective communications strategy. When leveraged correctly, releases can catch the attention of existing and prospective clients, stakeholders, investors, and more. If you found our list beneficial and would like help writing press releases as a way to amplify your communication efforts, get in touch.