The dynamics of media consumption are constantly shifting, driven by the rise of nontraditional media and the challenges plaguing traditional journalism. These changes are forcing businesses, including those in fintech, to rethink their PR strategies. For B2B fintechs looking to stay competitive, those that stay ahead of these trends and leverage creative storytelling to build and protect their brands more effectively will shape the industry conversation as true thought leaders.
The Changing Face of Journalism and Traditional Media
Journalism continues to be under tremendous pressure. According to Muck Rack’s 2024 survey, a significant portion of reporters are worried about funding and public trust in their profession. With more than a third of journalists reporting layoffs and buyouts, shrinking newsroom sizes, and the waning influence of traditional media, publishers are taking big swings to stay relevant.
As traditional media consumption declines—especially among younger audiences—securing coverage in top-tier outlets has become increasingly challenging. PR professionals can no longer rely on standard announcements or profiles. Instead, they must offer insightful, thought-provoking content that stands out and requires minimal editing for the news outlet. The “general public” is becoming a thing of the past, pushing B2B PR pros to target niche, highly focused media outlets.
With this ever-evolving media landscape, here are 7 PR strategies for fintech companies:
1. Prioritize Trade Media and Nontraditional Channels
- Trade Media: Despite the challenges facing traditional media, trade publications in payments, banking, and tech remain valuable. Fintech companies should cultivate relationships with these outlets, ensuring their stories are relevant and impactful for these specialized audiences.
- Podcasts and Social Media: Fintech companies must strengthen their presence on nontraditional platforms like podcasts, LinkedIn and even for some B2B brands, social platforms like TikTok. These platforms offer targeted access to specific audiences who are more likely to be interested in fintech innovations and trends.
2. Lead with Thought Leadership and Storytelling
- Trend Integration: Position your company within broader industry trends, rather than just pushing product announcements. Insightful commentary on issues like digital transformation, financial inclusion, or regulatory changes will increase your chances of media coverage. In this case, rely on your PR team’s recommendations on timing and topics. Frequent news that isn’t genuinely newsworthy or trying to force a connection to irrelevant issues can risk your reputation as a reliable resource.
- Content Quality Over Quantity: With the decline of traditional media, the bar for coverage is higher. Prioritize creating high-quality, resonant content that journalists and editors will value. This could mean fewer press releases and more substantial thought leadership pieces or in-depth case studies.
3. Shift Your Influencer Strategy
- Brand Advocates Over Influencers: As traditional influencer marketing loses its (pricey) edge, focus on cultivating relationships with brand advocates who have smaller but more engaged followings. Their authentic endorsements can resonate more deeply with your target audience.
- Sponsored Content Strategy: Consider incorporating influencers into a broader sponsored content strategy, giving you more control over messaging and audience targeting.
4. Be Selective with Awards and Speaking Engagements
- Strategic Participation: Be choosy about the awards and speaking opportunities you pursue. Ensure they align with your brand’s strategic goals and positioning to maximize credibility and visibility.
- Executive Visibility: Elevate your executives as thought leaders at conferences, in the media and on platforms you can own, like LinkedIn. Regular, strategic content from leaders can significantly boost your company’s visibility and influence in the fintech space.
5. Align PR with Sales Enablement
- Sales and PR Synergy: Integrate your PR efforts with sales enablement strategies. Equip your sales team with PR-driven content and training to create a cohesive approach that drives both brand awareness and sales. It’s proven that PR-driven web traffic produces more engaged sessions per visitor, longer site visits and engagement time per visitor than traditional sales content.
6. Innovate Beyond the Press Release
- New Content Formats: The traditional press release is losing its effectiveness, with many news outlets not publishing partnership or product news. Explore alternative formats like video content, interactive reports, or data-driven storytelling to engage both media and target audiences more effectively. When exploring new formats, always focus on solving the reporter’s pain points rather than selling your product. Your approach should be about directly answering their questions and providing added value through third-party research or devil’s advocate angles.
7. Prepare for AI Integration
- AI in PR: As AI becomes more prevalent in journalism and content creation, fintech companies should be ready to integrate AI tools into their PR strategies. These tools can enhance everything from content creation to media monitoring and audience analysis, making PR efforts more efficient and impactful. However, if you’re using AI to support your work, be sure you have some AI guardrails in place for your organization.
In an industry as dynamic as fintech, staying relevant and competitive requires more than just adapting to changes—it demands a proactive approach to PR and marketing. Fintech companies that build a PR program that implements these strategies will set themselves apart as industry leaders.
As news cycles continue to change on a dime, your media strategy must be flexible enough to adjust on the fly. This adaptability will allow you to stay ahead and truly lead the charge in shaping your industry’s conversation. The winners will be those who don’t just keep pace, but lead the charge in shaping their industry’s conversation.
