What is PR?
Public relations is the process of building and maintaining a positive image for a company, product, or individual through the media.
If you're looking for a way to attract the attention of potential clients, public relations could be a perfect solution. PR is all about getting your message out to the public in a way that is seen as credible. PR is an incredibly broad field, and the job of a PR professional can vary greatly from one industry to another. Shall we take a look at how different industries use PR, as well as some of the formats that PR professionals can use when pitching to clients or working with the media.
It can take many forms, including:
Press releases – a written statement that you send out to the media, usually to generate interest and publicity for your product or service. You may include content that announces new products or services, events, and other newsworthy information. They're sent out electronically and published in newspapers, magazines, and online publications.
Speaking engagements are another great way to get your name out there and build your personal brand. This format can be used to promote events, products, or services. They can also be used to promote your expertise in a certain area of business.
Media interviews – journalists often ask companies questions about their business practices or products/services in order to learn more about them and include this information in their stories.
Working with social media channels is a great way to interact with your audience. You can use social media to share news, photos, and videos, as well as other content that relates to your business or industry, and share updates on industry events like conferences and conventions.
Social media also allows you to engage with your followers by asking questions or answering questions they might have about what you do.
Cause marketing is when a business promotes an idea, cause, or social movement. It differs from traditional forms of PR work in that it seeks to raise awareness and support for the issue rather than sell products directly.
PR professionals do more than write press releases
Press releases are a form of PR, but they're not the only ones. Many people think that PR is just writing press releases and pitching them to journalists. That's a small part of what PR professionals actually do.
PR professionals also:
- Write memos, speeches, and reports for their clients' use;
- Plan events such as conferences, meetings, or seminars;
- Manage media relations for their clients (in other words, they write the content that appears in news articles about those companies);
- Conduct market research on behalf of clients (for example by carrying out surveys)
PR for a Forex project
PR for a Forex project is about building trust in your brand. It's about getting your name out there and making potential customers aware of what you do, and why you're different from other companies in the same industry. The aim is to generate press coverage that helps boost awareness of your product or service and loyalty for a company, which then leads to increased sales.
*Also Fx industry in general pays a lot of effort to work with the reputation via PR channels because of high risk and a lot of backlashes.
Peculiarities of a PR work for Forex project
Why is it so hard to promote Forex? The answer is simple: Forex is an unregulated market, not regulated by the government. Therefore, there are many Forex scams and frauds. As a result, you have no guarantees that your money will be safe in this type of investment.
Another reason why promoting Forex projects can be difficult is because of their high number of competitors. Almost every day there appear new services related to trading on foreign exchange markets (Forex). To stand out from the crowd and attract attention among traders and investors, you need a fresh approach or approach already tested in other areas but rarely used in this field yet.
We’re talking about a unique ecosystem, where the main players are brokers and investors. In such an environment, PR is not just another marketing tool but sometimes has the function of a "mission impossible". It's difficult for new brands to break into this field, which is why companies use different ways to attract attention and get recognition from potential customers. However, when it comes to promoting your own brand or investing in promotion services for others you should keep these peculiarities in mind:
- The Forex market is highly competitive. There are a lot of brokers who want to attract clients, so they use different ways to promote their services. So the first thing you should consider is that your brand has to stand out from the crowd and offer something really special for your audience.
- The Forex market is very subtle. Most people who trade on Forex are professionals and have a lot of experience in this field; they know what they want and don’t need to be convinced that your product or service is good enough for them. You have to get inside their head and understand what makes them tick.
- The Forex market is not only about money. It’s also a place where people can meet and talk about the latest news from around the world, exchange ideas on how to overcome challenges, and so on. This means that your brand should be able to communicate with its audience in more than one way; besides just offering them an attractive product or service you should provide them with ways to interact with it.
Your project will be successful if you approach its promotion from the right angle. Everything depends on your PR company and its strategy, which is built on a solid foundation of experience and knowledge about the Forex industry. You should note that Forex online trading has very special demands when it comes to PR work, so you need a professional partner who understands these demands.
PR Strategy
You should have a plan before you begin. The first thing you need to do is know your audience so that you can create content that is interesting both for your potential clients and the media and promote the image of the company you want to maintain and use social media effectively to boost your efforts.
The process begins with creating a PR strategy based on identifying how best to reach those likely to be interested in your offering.
You also need to define your goals, such as increasing traffic or reaching a specific number of new customers. You will also want to consider the strengths and weaknesses of your company, product, or service; this information helps determine how much time and energy should be spent on PR activities versus other marketing efforts such as advertising.
There are three main steps to a successful forex PR Outreach:
The first step of any PR campaign is research.Analyze the market. You need to analyze the market and know what your audience wants, as well as your competitors.
Know your product. You also need to know your product inside out, so that you can explain it clearly and concisely in writing, as well as verbally when needed.
Research the media landscape and competition. Along with knowing yourself and what you have to offer, research what other people have to offer in order to stay up-to-date on trends within this industry; this will help keep you abreast of changes that might affect how potential customers view Forex trading platforms like yours in general or even specific features within those platforms (e.g., why some people might prefer one platform over another).
The second step is reaching out to the media.
As soon as you have a well-prepared press release with worthy newsbreak that can result in media coverage, let's start reaching out to the media.
You can find various media outlets on the internet that cover your niche. Their contact details are usually available on their websites or social media profiles. To contact these people, you need to know who is responsible for handling press releases and how best to reach them (email address, phone number).
The third step is crafting pitches.
Once you've contacted someone at a website or newspaper, be sure to identify yourself and give them some background information about your project right away so they know how important it is for their audience! Don't hesitate to ask if they would publish an article about your product - nothing will happen if you don't ask! One approach we've taken successfully was identifying key journalists within our target market who were active on social media platforms where we could engage in private conversations with them directly rather than sending out mass emails every time we wanted coverage on our project or had newsworthy events.
To create an effective pitch, make sure it includes:
- The name and location of the outlet/media;
- The nature and purpose of your Forex project;
- Who is involved in this project;
- How much money was invested into this Forex project, if you have the approval to share such information, of course;
A few quick statistics about how many people have joined so far (if applicable); Some quotes from happy users about what they like about using this app/service.
*Actually quotes from partners, top management, and the team are good too, because everybody likes quotes!
If you're starting a Forex project, PR can be a great tool for growing your brand and gaining exposure. However, don't think it's easy to do this kind of work alone. You will need an experienced PR firm with years of experience in handling similar projects to give you the best results possible
H1 knows how to get the word out about your project, and we’re ready to get started. Contact us today for a free estimate on how we can help you with your Forex campaign.