In financial services, many firms are focused on providing bottom-line value to their clients. What most of them forget is how to properly communicate that value.
A good PR strategy has a greater impact on the bottom line than most firms realise. This book shows how to put in place an effective PR program in the financial services industry, and how great communications can add significant value to a firm.
Between them, Claudia Pritchitt and Leeanne Bland have over 50 years’ experience in public relations, communications, and marketing. Here, they explain the key tools needed in an effective communications strategy as well as why plain English is imperative in the jargon-heavy world of financial services.
It’s the job of a journalist to bring light to stories and people, but it’s not often they are in the spotlight.
At PritchittBland Communications we run a special blog series where we put the spotlight on Australian financial journalists and dig a little deeper to find out where they’ve come from and what drives a good story. See it from their perspective and read the interview with our next guest, Millie Muroi, Economics Writer & Columnist for The Sydney Morning Herald and The Age.
Why did you decide to go into journalism?
I decided to go into journalism in my second year of university. I'd always been set on becoming a high school teacher specialising in english and economics, but one day, I picked up a copy of The Economist magazine and read a piece that changed my life. It was a piece of journalism that was not only incredibly well researched, but so well written: easy to understand and with a bit of humour and wit. I'd always loved writing, but when I finished reading that article, I decided economics journalism was the thing I wanted to do. I continued my economics and english literature degree, then worked as a graduate economist at the Chamber of Commerce and Industry in Western Australia. I loved my team and my job, but when the opportunity came up to take on a traineeship with The Sydney Morning Herald, I couldn't turn it down and bought a one-way ticket to Sydney to begin my journey as a journalist!
What is it about economics and finance interests you the most?
I especially love economics because I think it helps us understand one of the most complex things in the world: human behaviour, thinking and motivations. It's not a perfect field (economists often get plenty wrong) but economics gives us frameworks, theories and models by which to analyse what's happening around us - and it's something that we can see in action in our daily lives: at the supermarket, in business, and in government decisions. Macro and behavioural economics are probably the parts I enjoy the most when thinking about economics. Finance also interests me in that it's often where we see all the decisions playing out, and a mechanism through which we fund many of the activities and businesses we engage in, many of them reaching across international borders.
What are you looking forward to seeing happen in the financial landscape in the next 5 years?
Perhaps unsurprisingly, I'm intrigued (if a little apprehensive) about the impact of AI on the financial landscape. But I'm also interested to see the ways in which we might adapt to the increasing share of our economy being in the services sector, and especially areas such as health and aged care as we grapple with an ageing population. I'm looking forward to seeing the different funding models, financial incentives, and even non-financial methods we might use to tackle this challenge.
What makes a good story?
A good story is usually something that hasn't been reported before, something that is surprising, or something that speaks to the experiences and problems faced by everyday Australians. It also often involves something that evokes emotion - whether that's fear (a very common one in the news cycle), anger, sadness or something that pulls a bit at the heartstrings. I think a good story is also one that is researched and told well. That includes making it easy for people to read and understand, even if they do not have specialist knowledge, and approaching people and topics with fairness and empathy.
What advice would you give to executives when they are talking to the media?
It's good to have some talking points, but try not to be too "scripted" or rigid: we can often tell when this is the case, and it means a story may not end up being very strong (or may not get a run at all). Have something new or surprising to say, and - while it's scary - try to be open on at least some difficult topics. I think it's also important to develop relationships with journalists. Keep them in the loop, catch up with them, and find media outlets or individual journalists you trust and can build a long-lasting relationship with.
