What does a fund company get out of holding a press event? Dan Sondhelm
, partner and vice president with SunStar
, a financial industry public relations and marketing firm, tells The MFWire
why these events matter and how companies can get the most out of them.
"Reporters are an extension of a company's client base," Sondhelm said, "you need to treat your relationship with reporters like you treat your relationship with your customers."
"Fund companies big and small should consider press events as a great way to get out their message and build relationships with reporters," Sondhelm said. "For the larger firms, it is a good way to catch up with reporters and for the smaller firms, it is an efficient way to build relationships with the media."
According to Sondhelm, positive press coverage earned on a regular basis can attract advisors and investors, strengthen distribution and build your brand, at a fraction of the cost of most other marketing efforts.
Smaller asset management firms usually can't put together a big press event on their own, Sondhelm said, that's where SunStar comes in. "We help them manage their time and money in an efficient way, so they can get their message out," he said.
Fund companies also need to entice reporters to come to their events, according to Sondhelm, and once they are there, they need to keep their attention by providing an interesting presentation.
At SunStar's recent Lipper Leaders
press conference at New York City's Reuters building in Times Square, Sondhelm kept things interesting by introducing each speaker with some interesting personal facts. Each speakers' time was also kept to six minutes to keep things moving along quickly.
Feedback is important too, according to Sondhelm. After each event it throws, SunStar gets feedback from reporters and clients on what worked and what didn't. That way each press event evolves to better meet the needs of clients and reporters.
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