If you asked a group of consumers or even professionals to define public relations (PR), you invariably would hear it described as “free advertising.” This is not a good definition because PR isn’t advertising, and it isn’t free. Rather, public relations is a means of positioning your products or company through a perceived third-party endorsement.
How much of financial services advertising that you see or read each day do you act on? When was the last time you discussed a financial ad with a friend or colleague? Now, consider your reaction to a recent news story or post—whether print, television, or online—concerning the financial industry. How much of your attention did it receive? Did you discuss it with a friend ...