Raising Brand Awareness in the Cannabis Industry

Introducing a new product in the cannabis industry requires a strategy that laser focuses on the right audience. What’s the best way to ensure that its launched appropriately to the right audience?  Key to this program was launching an in-depth media relations campaign to set the stage in the correct manager, and create a supporting influencer campaign to build product awareness thus moving it into the fitness community, which was one of the key markets for this product.

The Launch Plan

Because this product was designed for the active lifestyle community, an educational campaign to drive brand awareness was developed. As a result, the target market – fitness enthusiasts and those involved in the active lifestyle community – were the first to embrace this. Key steps included:

  • A targeted outreach identifying the key audience including HIIT athletes (WHAT IS THIS?), including endurance athletes and those who were active in the Yoga community.
  • A robust media relations outreach program which identified specific reporters as well as gauging story opportunities about the cannabis industry in an already crowded space.
  • Identifying key influencers which whom the product would resonate which allowed us to offer product in exchange for posts. Additionally, partnership opportunities with key retailers to brand layer the product with included well recognized fitness brands such as SoulCycle, Y7 and Lululemon.

Unparalleled Results As a result, more than 500,000 earned media impressions in the key national and regional HIIT, endurance, yoga publications and regional news were secured. On the social side, the program generated more than 122k engagements with leading fitness influencers.

Nick Luvera

FinTech Public Relations Strategies

Financial technology has revolutionized the financial services sector with solutions that make it easy for users to access financial services and make transactions quickly and securely. As a result, the fintech industry has seen immense growth with a compound annual growth rate (CAGR) of about 17%.

So how can your fintech business keep in touch with its customer base in this ever-changing landscape?

Public relations can play an important role in helping fintech companies connect with their customers. It can set the narrative and ensure your messages are heard. Let’s look at some practical PR strategies your fintech business should consider.

5 Top FinTech Public Relations Strategies

Clear Communications

Clear communication helps fintech firms to shape the perception of their brands in the eyes of the public. For communication to be clear, it has to be two-way. This means that you send out messages to your target audience and receive feedback. You can then act on this feedback to improve your services.

An important element of clear communication is strong and consistent messaging. Ensure that all the messages you put on all platforms have the same tone and voice. They should portray the same image of your brand. Doing so makes your brand more recognizable. It increases its reliability and trustworthiness in the eyes of the public.

For your fintech business to communicate clearly, you must understand who your target audience is. This way, you can create a value proposition that appeals to them.

High-quality Content

Do you want to stay ahead of the curve? Give your consumers something that they’re not getting anywhere else. You can achieve this by publishing quality content on all platforms.

High-quality content is content that’s useful, comprehensive, educational, actionable, accurate, and answers readers’ queries.

Here’s how to create good content:

  • Humanize your messages: Ensure every message has a personal touch.
  • Use visuals: A right mix of images and videos to make your content more engaging.
  • Be concise: Keep your messages short and to the point for easy understanding.
  • Back it up with research: This will make your content more authoritative.
  • Answer common questions or issues: Let the audience know that they can rely on you for information.

The Right Channels

If you want to increase your brand’s visibility, you must make use of the right channels. Choose the platforms where your target audience is most active and engage with them there.

How do you know which channel is the right one for your fintech firm? Analyze the behaviors of your target audience. Which channels do they use/listen to most? If you’re targeting millennials or Gen Zers, look at social media platforms like Instagram, Facebook, Twitter, TikTok, etc. On the other hand, if you’re looking to reach professionals and business owners, LinkedIn could be the right platform.

Don’t use a one-size-fits-all approach when choosing the best channels for your PR messages. Use paid, earned, social, and owned media to maximize your reach.

The Perfect Pitch

You need to consistently work with influencers and journalists to get your story covered. With so many fintech firms competing for the same space, what kind of pitch should you send to grab their attention?

First, ensure that your pitch is concise and interesting. Also make sure it’s not over-promotional or spammy. Your pitch must clearly explain why the journalist should cover something related to your fintech business.

Assume that anyone you pitch to is swarmed with hundreds of pitches that they must filter through to find one that’s worth their time. So make sure your pitch grabs attention within the first sentence.

Other things that make a perfect pitch include:

  • Focus on the benefits of your services: Why should your audience care about your brand? What will they gain from using your services?
  • Provide relevant data: Journalists love hard facts and figures. Provide them with the research you’ve conducted to back up your claims.

Contact Influencers and Journalists

Once you have the perfect pitch, it is time to contact an influencer or journalist who can help widen your reach.  Make sure you research who they are and what kind of content they create before you reach out to them.

Personalize your messages as much as possible so that the person you’re contacting can see you have taken the time to understand their interests and preferences. Also, don’t forget to include all your contact information in case they want to follow up with you.

Build a rapport with the said journalists or influencers long before you contact them to make it easy for them to identify your pitch. You can do this by sharing or interacting with their posts regularly.

Final Thoughts

Having a fintech PR strategy positions your brand for success in the long run.

Do your research, use relevant channels and influencers who are familiar with the fintech space, create an interesting pitch, and you will be one step closer to achieving your desired results.

Lastly, work with PR experts. At the Hoyt Organization, we understand the best strategies to put your name out there.

Nick Luvera

How To Craft A Value Proposition For A Brand

As industries become increasingly competitive, it is important to differentiate your brand from competitors in order to attract and retain customers. Differentiation helps to create brand authenticity. And this makes it easy to gain the attention of your target audience.

One of the most effective ways to differentiate your brand is by creating a unique value proposition. Let’s explore how to craft the right message for your brand.

What Is A Value Proposition?

A value proposition is a statement that summarizes the benefits and economic value of a product or service for a customer. It explains why customers should choose your brand over competitors and why they should buy from you.

When creating your value proposition, you need to identify a pain point felt by your customers. Then tell potential customers why your brand is better positioned to address it than competitors.

Some of the elements of a great value proposition include:

  • Relevance: Captures how your product can solve your customers’ problems.
  • Specific value: Answers the question of why customers need to choose your brand over others.
  • Customer connection: Explains how your brand meets the individual needs of every customer.
  • Measurable: You can gauge the effectiveness of your value proposition using metrics like customer retention or conversion rates.

4 Steps To Create A Value Proposition

Wondering how to create a value proposition that will bring great results? Here are four key steps to follow:

Research Your Target Audience

Understanding your target audience is the key to delivering the right message that resonates with customers and one that doesn’t.

Before creating your value proposition, ask yourself the following questions:

  • Who is the target of this value proposition?
  • What do they care about?
  • What are their needs and wants?

Answering these questions will help you better understand your target audience.

Make sure that you segment your target audience based on their demographics. This includes age, gender, location, interests, and specific needs.

To determine your target audience:

  • Use Google Analytics. This is an excellent tool that can give you valuable demographic details of your target audience.
  • Analyze competitor data. Researching what your competitors are doing and who is buying from them will help you have a better understanding of the industry.

Identify Customer Benefits Of Your Products

Take some time to explore what makes your brand unique and how its products or services can better meet your customers’ needs than competitors. Think about things like customer service, quality of product, convenience, and price.

Brainstorm the strength of your products or services and how they can solve the unique challenges that customers face. Make sure that you capture your products’ strengths in your value proposition in a way that does not limit the chances of product growth or change.

A good customer experience is one of the things that customers look for before deciding whether to buy from a brand. Therefore, you must factor it into your benefits. Most importantly, center your unique selling points around your business values. This ensures that your value proposition is consistent with other brand messages that you send out.

Differentiate Your Brand From Competitors

It’s important to understand who your competitors are and their key differientiators. Begin by auditing their strengths and weaknesses, so you can create a value proposition that offers something unique that your competitors don’t have.

If you’re unsure who your competitors are, here’s how to identify them:

  • Market research. Look at the market and identify the companies that sell the same products or services as you.
  • Online search. Use keyword research tools to find out who is competing with you on the web.
  • Social media listening. Follow conversations related to your industry on social networks and see which companies are mentioned frequently.
  • Review websites. Search review sites such as Yelp or Google Reviews to get an idea of customer sentiment about competitor brands.
  • Search engine results: Do a simple search on Google to find out who’s offering the same product/service as you.

Create An Attention-Grabbing Value Proposition Statement

It should summarize your brand’s unique offer and succinctly explain how it will benefit customers.

This should be a clear and concise statement that captures the essence of what differintiates your brand from competitors.

Final Thoughts

Once you have crafted your value proposition, it is time to communicate it. Get all stakeholders on board so that there’s consistent PR messaging across all platforms. Use different platforms to get your message out there such as your website, social media, emails, and newsletters.

Crafting a value proposition for your brand is essential for growth and success. By following the steps outlined in this article, you will be able to create an engaging value proposition that resonates with your target customers.

Nick Luvera

5 Technologies That Will Change How You Do Public Relations

Technology is evolving all the time and affecting all of the industries that rely on it. The world of PR is no exception.

Anticipating how technology will evolve in the years to come and how to leverage various technologies in your PR strategy is crucial if you want your brand to stay relevant. Below are 5 technologies that will change how you approach public relations. These should be on the frontline of your strategy if you want to stay ahead of the competition.

Social Networks

Social media’s growing popularity has been one of the primary tools that PR professionals use worldwide. There are no inclinations of it changing anytime soon.

With some platforms, like Facebook and Twitter, experiencing some declines in recent years, the gap has been filled with new giants, like Snapchat, Reddit, and LinkedIn. However, the distribution channels of these platforms have evolved over the past decade and so have the PR departments that rely on them.

In general, there has been a major shift from organic to paid content. This means PR professionals have to regularly revise their budgets allocated to paid media.

The rise of social media messaging tools has given the PR industry a whole new channel to reach potential customers. This trend will likely become a crucial PR strategy as 62% of millennials feel more loyal to brands that message them on social media.

In addition, PR professionals have started using social media as a way to monitor brand reputation and news. Social platforms are an effective way of connecting and communicating with your audience. As such, monitoring social media helps PR professionals to get an idea of what people think about a brand so that they can adjust their strategy accordingly.

Artificial Intelligence

Artificial intelligence (AI) is a technology that aims to mimic what humans do, think, and say. It is anticipated that AI will have infiltrated every industry and aspect of society in 30 years’ time. This means that the PR world will also need to adapt and probably use AI for various purposes.

For example, you could use AI to leverage millions of gigabytes of data in real-time to write insightful copy and target audiences in a much more sophisticated way – without human assistance.

Analyzing Information

The rise of AI is deeply intertwined with the development of big data. Big data refers to the minefield of structured and unstructured information that is available for organizations to comb through for valuable insights.

For companies to intimately know their audience’s needs, wants and preferences, they will need to use AI tools to comb through large amounts of data and provide highly targeted content to users.

Since PR relies heavily on expertly crafted communication, this ability will become quite crucial in any PR strategy. Today, big tech companies, like Facebook, are already doing this. They target users through ads and content that are tied to their likes and dislikes. However, in a few years’ time, we will likely see this trend in PR around the world.

Email

Compared to other platforms, email has seen little innovation in recent years. However, certain future advancements will keep this platform relevant.

In the next few years, we can expect increasing personalization and targeting through the use of big data. This will enable PR professionals to send highly targeted emails to potential leads and recurring customers.

Email will also become more interactive, featuring highly clickable elements, which will boost engagement. Increased automation is also on the horizon, with greater leveraging of information and natural language processing.

This will take much of the monotonous work off of the hands of PR professionals. It will allow them to focus their energies on problem-solving tactics and industry analyses.

Video Content

Since the emergence of Web 2.0, video content has ruled on the majority of social media platforms. According to research, 60% of millennials prefer to watch a video rather than read a newsletter. Additionally, 56% of consumers believe that if a company has a website, it should have a video.

Many businesses and organizations have had immense success communicating via video, particularly by producing video news releases (VNRs) and brand journalism videos.

With live streaming also gaining popularity, audiences now have the opportunity to tune into events as they are happening. They can experience raw, unfiltered imagery of the topics they are interested in.

So, for PR professionals to stay relevant, they will have to leverage these cutting-edge technologies. This will help them to accurately communicate their organization’s PR content more effectively.

In Conclusion

If PR professionals want to continue in their quest to reach and retain customers, they will have to form their strategy around the technologies available to them. This also entails keeping up with the evolution of the tech industry and using innovative ways to tell your brand’s story.

Nick Luvera

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