The benefit of telling stories

There are PR agencies that can help you to manage PR activities and you can undertake it yourself.

One way that brokers could engage in PR is by offering to write a personal finance column for their local newspaper or community newsletter.

Pros
• Good PR can help to reach people who are sceptical about advertising
• PR can help you build trust amongst your audience and demonstrate that you know what you are talking about
• Journalists are overworked and keen for people to help them fill their pages and websites, so there is plenty of opportunity for PR.

Cons
• You never have complete control what an independent publication writes about your business.
• Difficult to measure impact through direct leads but can support other activity through raised awareness.

Social Media

Social networks are an effective way of getting your messages directly to potential customers and there are a series of platforms that allow businesses to share content and interact with clients and prospects. These include Twitter, Facebook, LinkedIn and Instagram. It’s worth noting that despite being a more relaxed format of communicating, social media still requires you to adhere to the same rules and regulations as standard advertising.

Pros
• Puts you in contact with your target audience, enabling increased engagement and humanising your brand.
• Can provide an additional customer services channel
• No set up costs and you can do it all yourself.

Cons
• Can be time-consuming to set up and maintain
• You have no control over what people will post about your company
• The content you share needs to be relevant, interesting, entertaining and compliant.

As with any type of promotion you undertake for your business, compliance should never be overlooked, and it is important to ensure that you understand and apply the relevant rules in the Mortgage Conduct Of Business sourcebook.