Recently, we supported MetLife as they planned and launched an event tailored for the dynamic online parenting community also known as mommy and daddy bloggers. As a group, this blogger community is passionate, savvy and outspoken –and we wanted to talk to them on their turf: social media.

As the nation’s largest life insurer, MetLife has done extensive research on the life insurance purchase process and the hurdles that consumers often encounter when trying to obtain this important protection for their families. Through that research, they confirmed that many individuals go online to look for information and answers to their questions.

Parenthood is often an impetus for individuals to think about purchasing life insurance.  However, since life insurance is just one of the many financial considerations that new parents have to navigate, MetLife decided to host a live webcast to address a variety of money-related issues for this audience.  Among the topics discussed was a presentation by MetLife’s chief marketing officer, Beth Hirschhorn, a mom of two, about the basics of life insurance for new parents including how much life insurance consumers really need and, importantly, how much it will cost.  In terms of metrics, the goal was to have 50 bloggers register for the webcast (MetLife had 75).

Importantly, the team learned valuable lessons about what it takes to engage in social media and get an event like this off the ground, which will be integral to MetLife’s future interactions in the social space.

Here are some of the steps that helped us to be successful:

• Invite outside speakers. In addition to MetLife’s Beth Hirschhorn, we extended invitations to two authors (and new parents) with insights to share on family budgeting: Stacey Bradford (The Wall Street Journal Financial Guidebook for New Parents) and David Port (The Caveman’s Guide to Baby’s First Year). The invitation also promoted that the first 100 registrants to the webcast would receive free copies of both their books.
• Leave the logistics to the experts. MetLife partnered with Thomson Reuters, who helped them to create a customized media player for the event, managed the mechanics of registration, and hosted the online event, which was broadcast live from MetLife’s on-site studio.
• Listen before you leap.  MetLife PR had been following blogger conversations for more than six months to get a sense of their interest in issues such as family finance, insurance, etc. (a best practice before engaging).
• Spread the word on Twitter. Our colleagues at MetLife PR, Toni Griffin and Judi Mahaney, joined Twitter to participate in conversations about family budgeting and finance in the months leading up to the webcast. They also created a hashtag, #straightstory, which allowed participants in the event to weigh in on the presenters’ material and share their own tips for new parents.
• Promote the event through Facebook.  MetLife launched targeted advertising through Facebook to invite those interesting in blogging, family finance and parenting, among other interests, to view the webcast.
• Target relevant bloggers and reach out accordingly. The parenting blog community is one of the biggest on the web and encompasses a HUGE variety of subjects and styles. We identified and reached out to bloggers who have touched on family finance issues and/or offered advice to new parents.
• Create a home base for related content.  MetLife put together a micro site landing page devoted to the Family Finance webcast, where anyone who was interested in the event could go to learn more about the presenters, access their presentations, explore MetLife’s new life insurance tools and tips, and watch a replay of the webcast – which made it easy for anyone who missed the event or wanted more information to get everything they needed in one place.

We’re really pleased to have partnered with MetLife on this innovative social media program.  As more consumers and influencers search for financial information online, we expect our most innovative clients to continue to develop (and hone) their approaches to social media.

What lessons have you learned about social media engagement by experimenting with new initiatives and formats?

To reach Kelly:

Phone: 212.840.1661
Email: kellyd@blisspr.com
Twitter: @kellydavis226
LinkedIn: Kelly Davis

Last week, I had the opportunity to make a presentation to the St. Louis chapter of PRSA on this topic – which is based on multiple conversations with my fellow BlissPR colleagues about how we help our clients achieve their business goals. 

B2B service companies are great clients because they stretch us to come up with a clear vantage point on technical and often enterprise level matters.   But they can also be tough clients because they are very busy, as well as risk averse and slow to adopt change.   When we are faced with creating a new campaign, here are some of the things we think about to get out of the traditional “lather, rinse, repeat” kind of PR.  Here is what I said in St. Louis – what have I missed?  (Want to make sure you see this, @tressalynne)

1. Raise the Altitude.  First, get up above product.  If you are discussing the features and benefits of what the company sells, you won’t get the audience’s full attention.  It’s like looking at photos of someone else’s kids.  Find out what the audience truly cares about, and focus on that.  Here’s a great example of a major financial company surfacing the issues of concern to its customers, who are heads of HR:  MetLife’s 8th Annual Employee Benefits Trends Study.
2. Carve out an Issue to Own.  Second, don’t be afraid to make an idea the hero of the moment.  The idea can be an issue, a trend, a topic area – think “privacy” or “motivation” or “risk” or “capital flows” — but it’s not the product.  Then build a microsite or a blog or a strong point of view around that.  We have seen consulting firms take this tack, and predict that corporations will do so as well.  
3. Be of Service to the Communities you Care About.  What does your client know that can help the communities that they serve?   How can you help them do their own business better?  Often, research, benchmark data, opinion, counsel can be packaged in a way that galvanizes decision-making.  Here’s an example: BDO’s Retail Survey.
4. Enter the Ongoing Conversation. If your client is discussing a topic that matters, and has a point of view or research that extends the conversation, then you better be finding the right dialogues, and the people (bloggers) who are influencing them.  Addict-o-matic is a great way to find them. 
5. Learn to Share.  Once you have created your content, deliver it in many forms and formats.  SMPRs, video, data nuggets, how to advice, predictions.   And don’t be afraid to partner with a media outlet to deliver all that content goodness.  Here’s an example of what we mean:  Bloomberg BusinessWeek.com/Hay Group Study Identifies Best Companies for Leadership.
6. Don’t Hog the Microphone.  When your client is the only one talking –even if he or she is the smartest person in the room, it’s less interesting than if you invite other voices in to the discussion.  Open it up and more people will listen.    That’s what they found at McKinsey’s whatmatters microsite.   
7. Get Local.  If there’s a national trend – movement of some kind, whether it’s a rule change, a regulation, legislation – there will likely be local fallout.  Capture it!  People care about changes and problems happening in their own backyards, and are more likely to pick up the phone and call someone in their own area for help.
8. Build Your own Community.  In the old days, we used trade media to reach niche markets.  Not so much anymore.  Plus niche markets are getting nichier.  Sometimes you find them, sometimes you have to help your clients create them.  So if it’s CFOs of Canadian natural resources companies, or hospital facilities managers in the southwest, or med students who care about TB,  or meeting planners for financial services companies, sometimes it’s easiest to build your own audience.  

That’s what I came up with – what steps would you add? Click here to see the full deck or feel free to email me at abby@blisspr.com.

To reach Abby:

Phone: 212.840.0088
Email: abby@blisspr.com
Twitter: @abbycarr
LinkedIn: Abby Carr

Like many media relations enthusiasts, I crave the opportunity to really sink my teeth into a story and bring our spokespeople’s strategic thought leadership to life. In the case of financial reform, it is essential to investigate the media coverage around the issue and work closely with spokespeople to make sure they offer not only compelling insights during an interview, but also that they present their point of view in a way that is digestible for the media – and in turn, their potential clients and the media’s audience.

Oftentimes, a spokesperson’s success during an interview depends upon your ability to effectively support thought leadership development as well as offer media training tips. Here are a few things you can do to strengthen pitches and help your spokesperson be a better interviewee:

1)      Regularly “Checking-In” is Key. Remember to talk to each spokesperson on an ongoing basis – especially if your financial services account relies heavily on media relations. This may seem like a “no-brainer” but it is something that can be neglected as media relations specialists work at a fast pace. Remember, your spokesperson’s insights add color to your pitches, so “check yourself before your wreck yourself” especially when pitching complex financial related issues. If time is of the essence, run the pitch by the spokesperson at the very least. But for pitches with longer lead times, its best to speak with the spokesperson to verify the content of the pitch and learn any additional – and hopefully new and different – points you can use to promote their expertise/thought leadership. 

2)      Focus on the big picture. Even high-level executives like Mad Men’s Don Draper need media training. In the case of financial services, many bank, insurance and asset management spokespeople possess such a wealth of knowledge that it becomes difficult for them to drill down to the four main points. Remind them that they only have five-ten minutes to speak with journalists so it’s important to avoid getting bogged down by the technical details. Asking questions can help so… 

3)      Don’t be afraid to ask questions. Offering probing questions helps the spokesperson focus on the most important aspects of an issue while enabling you to learn the key points you need to develop a thoughtful pitch. For example, questions you may ask a spokesperson about a topic like financial reform could be “What are the major provisions of the bill and why? What is missing from the bill? What will the passing of the bill mean for investors, businesses and consumers?”

4)      Pepper the pitch with sound bites. Examine the points the spokesperson makes and highlight the main takeaways in sound bites throughout the pitch. More importantly, share the final pitch with the spokesperson – this will further their understanding of what points you consider to be the most media-friendly. Further, the pitch can serve as notes that will sharpen their focus during the actual interviews.  

How do you help spokespeople be better interviews on complex issues? What resources do you use to strengthen your pitches on complex financial topics?

To reach Rachel:

Phone:  212.840.5476
Email: rachel@blisspr.com
Twitter: @RachelBethG
LinkedIn: Rachel Gerber

• One emerging positive story you may want to keep an eye on is the commercial mortgage-backed securities (CMBS) market. Recently, after a hiatus following its collapse a couple of years ago, the CMBS market has seen signs of life, and experts I’ve talked to expect a return to the modest activity seen in the ‘90s. A strategic B2B PR program will leverage stories related to CMBS sooner rather than later. 
• For banks and other lenders and mortgage originators, another positive story is a possible increase in deal flow. If you’re a lender that hasn’t been doing much lending and you’re ready to start lending again, consider a ramp-up in media outreach as deal flow increases, since you want your clients to know that you’re back in action. 
• For other sources of commercial real estate capital, such as funds, life insurance companies, private equity firms, and institutional investors, the burgeoning commercial real estate recovery calls for a reassessment of communications strategy. In preparation for a possible increase in deals and capital placements, you will want to re-evaluate your target audience. When trying to place capital, go where the deals are. It may sound obvious, but many firms overlook the need to change their communications strategy as the market shifts. Are you targeting your current audience? 
• Then there are the Real Estate Investment Trusts (REITs), which are uniquely positioned to benefit from a resurgent market. The collapse of the market left most of its participants with no way to determine the value of the property in their portfolios or investments securitized by those properties. As the market recovers, REITs will be able to better determine the value of their holdings on the market and how much their debt is worth. If you work for a REIT, set PR strategy now on how best to announce acquisitions and dispositions.  As the gap between bid and ask prices on property and debt continues to narrow as a result of increased trading, assess who you need to reach with your PR program.

No one knows what the future holds – probably a good thing, as not knowing what’s going to happen is part of what makes working in B2B public relations so much fun. But it’s very likely that the commercial real estate market will show increased signs of life this year, and as it does we should be proactive to find positive stories for commercial real estate professionals to tell.

What are your positive real estate stories?

To reach Dave:

Phone: 312.252.7318
Email: dave@blisspr.com
Twitter: @davidmiranda
LinkedIn: Dave Miranda

To ensure our presentation was as relevant to the audience as possible, Elizabeth and I spent a considerable amount of time taking a look at how organizations in the retirement services industry (think asset managers, TPAs, RIAs, trust companies, custodians, record keepers, etc) were harnessing social media to develop and enhance relationships. We conducted a social media audit of 15 organizations in the retirement services industry – five asset management firms, five plan administrators and five RIAs. Through this assessment, we found five distinct ways that organizations in this space – and other industries – can better use social media (to the extent allowed by their compliance departments) to further their business objectives:

• Choose your topic parameters and understand why they matter: When thinking about your brand online, make thoughtful decisions about the types of information/content you’ll be distributing and commenting on. Do you want to be known for your expertise around ETFs? Or your in-depth understanding of regulations impacting clients? Whatever your topics are, choose them wisely – and then stick to them. You’ll be more likely to create meaningful dialogue with clients and contacts online if they know what type of information they’ll receive from you.
• Use significant content libraries to engage clients, prospects, influencers: Nearly every organization we audited has a great deal of interesting, insightful information to share. But much of it is static – it’s not being shared in ways it could. Here’s a few ways to move away from “brochure-ware” to deployable, actionable content:
  • Create an RSS Feed that acts as advance-warning system 
  • Use Twitter to identify early-adopters and promote content
  • Turn pre-approved content (such as whitepapers and bylined articles) into blog post
• Search Engine Optimization Strategy: Compliance challenges can be restrictive in this industry. If your organization can’t communicate with clients and potential clients via social media sites, consider a Search Engine Optimization Strategy, and help your company get found by the right people.
• Seek out influencers, create a dialogue: There are a number of individuals in the retirement services space tweeting and blogging about industry news, regulatory updates, etc. If you’re constricted by compliance or regulations, use the “lurk and learn” strategy to learn what influencers in your space are talking about. Here are a few “tweeps” to get you started: @RetirementUSA; @RetirementRsrch;(CRR at Boston College); @401khelpcenter; @401kplandesign; @401kPlanInfo; @401kWire; @401k_Fiduciary; @KiplingerRetire; @aiming2retire (Emily Brandon at US News); @PJPIII (Robert Powell, MarketWatch)
• Leverage LinkedIn — Your personal brand is a critical part of the sale: The adage that people want to do business with people they know still rings true, and now it’s now easier than ever to stay connected. Join retirement-related LinkedIn Groups, ask questions, recommend colleagues and link-in to your contacts.

Check out our slides here, and drop us a line to let us know what you’re doing to engage clients and potential clients through social media strategies. We hope to get some video of the presentation up soon.

To reach Meghan:

Phone:   212.840.1661 
Email: Meghan@blisspr.com
Twitter: @meghanlantier
LinkedIn: Meghan Lantier

The Twitter Business Center offers businesses three capabilities that aren’t built into standard Twitter accounts:

1. A “Verified Account” seal – you see this most frequently on celebrity Twitter accounts like @aplusk and @barackobama – the seal indicates that someone from Twitter has confirmed that the account holder isn’t an impostor.

2. “Contributors” – lets more than one user access a business account, and displays a “byline” for each individual user tweeting on a company handle (more here).

3. Non-follower DMs – allows business accounts to respond to DMs from users they’re not following. This feature is particularly relevant to businesses who use Twitter as a customer service tool, like @comcastcares; it eliminates the step of following a user back before responding to his or her inquiry or complaint.

The toolkit for business is currently only available to a select group of companies that Twitter has invited to test it out. Presumably, these are firms who are already using Twitter for business (one is @Starbucks) and will find value in the shortcuts and capabilities provided by the service. But even when it’s universally available, it doesn’t change the strategic thinking that should inform the decision to “tweet or not to tweet” – and that’s true whether you deal in derivatives or donuts.

Especially in financial services, where violating the compliance standards outlined by FINRA or the SEC has major consequences, social media is still an area in which to “proceed with caution.” Just as before, if your client’s target audience is on Twitter, and the client is prepared to devote the energy and resources to engaging there in a way that doesn’t jeopardize compliance, then by all means go for it! But just because Twitter is making a play for businesses doesn’t mean that every business should immediately jump on board.

That’s our Financial Services Practice Group’s “Two Cents” – do you think the Twitter Business Center is a game changer?

To reach Kelly:

Phone: 212.840.1661
Email: kellyd@blisspr.com
Twitter: @kellydavis226
LinkedIn: Kelly Davis

Today, the market is more complex than it ever has been, particularly in the commercial real estate sector and the world of corporate site selection. To make sure the market is ready for your message, consider the following three questions: 

• Who is my audience? Where does their business stand in the economic cycle? Right now, real estate – particularly employment-driven sectors of commercial real estate – are lagging other industries like financial services and professional services in the economic recovery. Be sure you know if your audience is in “growth” or “survival” mode, and tailor your messages accordingly.
• Am I too late to the game to offer a fresh perspective? People don’t have time for ideas that they’ve heard before. For example, if you have a message focused on sustainability, consider how much green washing people hear every day. Make sure you have something new to say – and that your message stands up to any likely challenges.
• Am I too early? Is my audience ready to hear what I have to say? If your audience is not open to what you have to say, you’re wasting your time – and theirs. Be sure to connect your message with their current interests and challenges.

In 2005, I ghost-authored a retail market communications piece that received negative reviews from the audience because our research was good, but our timing was bad. Together with my client, we carefully researched statistics on the spending habits of Generation Y, on Americans’ lack of savings, and presented a case that retail could be in for a rude awakening. Far from being heralded as a prophet of market cycles to come, in the overheated market of 2005, retail professionals were looking for inspiration on how to go faster, close more deals, and beat out their arch-nemeses. Instead, we threw them into a cold shower of ugly statistics. Moral of the story? There’s no value in an “I told you so.” A more productive way to engage your audience is to educate them on how you can help them meet the challenges of today’s economy, while planning for all possible futures. Nobody wants to hear a blunt take on how they are getting it wrong.

Remember that clichés are born for a reason. How are you using market timing to make sure your communications are resonating with the market?

To contact Margy Sweeney:

Phone:  312-252-7314 
Email: margy@blisspr.com
Twitter: @margysweeney
LinkedIn: Margy Sweeney

A recent New York Times article “Doctors Hear Many Questions about the Health Law” found that both doctors and their patients, whether they supported or opposed the bill, are frustrated by the lack of information they are getting on healthcare changes. This suggests that for all the emphasis the Obama Administration placed on “selling” the healthcare plan ahead of the November midterm elections, they may be missing the mark.

The lack of information sharing is surprising from a Federal Government with a history of providing a plethora of information on related regulatory issues. For example, employers and employees can find everything from rules and requirements, to template notices and IRS tax filings from the Department of Labor website relating to the recent extension of the COBRA subsidy (designed to provide affordable healthcare to employees laid-off during the recession).

While the healthcare reform legislation is undoubtedly a more complicated animal, and confusion surrounding healthcare is unintentional, the Obama Administration’s healthcare initiative would benefit greatly from a more organized PR plan. The government has made some information available on the web at healthreform.gov, but it is largely focused on questions for individuals, not healthcare providers, and for many Americans the topic of healthcare reform is too daunting to confront without the help of a physician. 

To really “sell” their plan to the public, the Obama Administration needs to shift their PR focus to the physicians and insurance brokers who are on the front lines of reform implementation, and are fielding many of the questions plaguing average Americans. Providing doctors and brokers with information to help them answer some of these questions will decrease frustration and make the issue of healthcare reform more accessible to the public.

That’s our Financial Services Practice Group’s “Two Cents – how do you think the Obama Administration should share information about healthcare reform?

To reach Erica:

Phone: 212.840.1661
Email: erica@blisspr.com
Twitter: @EricaMichel

All in all, the funds are doing well in the marketplace – a recent study from Morningstar found that target-date funds still earn better returns than other options for retirement investors. Assets have grown from $69 billion in 2005 to $256 billion in 2009. But, most media coverage of target-date funds has an underlying assertion of their “problems,” perhaps fueled by Senator Herb Kohl’s consistent criticism and pending regulations from the SEC and Department of Labor stemming from a joint hearing held in June 2009.

Part of the reputation problem is that while target-date funds all have a similar investing premise, their underlying investments, strategy and asset allocations vary widely. So even though the funds may go by the same descriptor, each manager brings a different investment philosophy to their fund which can lead to varying returns.

So what needs to happen for these funds to “lose the asterisk?”

• Time needs to pass so investors can regain trust in mutual funds overall. Target-date funds need to lengthen track records and prove their value in a positive market environment.
• The SEC/DoL needs to either pass or not pass pending regulations, and then put the debate behind them.
• Short term, the funds need to do a better job of explaining their strategies so investors know what they are buying. While these funds are supposed to need minimal investor involvement, and are often a decision made by an employer, it’s still important that fund companies clarify what these decisions mean for retirement savings.

But in the end, these funds are here to stay. Americans need easy options to help them save for retirement, and target-date funds fit the bill.

*BlissPR is familiar with this subject matter as we work with a target-date fund manager.

To reach Katherine:

Phone: 212.584.5475
Email: katherine@blisspr.com
Twitter: @kilpatrickk
Linked In: Katherine Kilpatrick

According to the “Small Business Success Index”™ (SBSI) conducted by University of Maryland’s Robert H. Smith School of Business (and reported on by Hubspot and Mashable), one in five small business owners are integrating social media into their business processes. Nearly half (45%) believe their social media strategies will pay off financially in 12 months or less. Further, 75% of those surveyed have a company page on a social networking site, 61% use social media for identifying and attracting new customers, and 57% have built a network through a site like LinkedIn.

The benefit of social media to small businesses is pretty clear – social media is much less expensive than traditional marketing/advertising campaigns; and it gives you direct access to consumers and customer feedback. The opportunity to generate new business leads through direct contact with buyers is significant.

But flip the coin, and it becomes apparent that opportunities abound for financial services companies – especially banks, insurance companies, benefits brokers and financial planners – to tap into the online communities of small business owners to generate new business as well.

Bank of America and American Express are both reaching this audience through dedicated microsites. But if you don’t have the time or resources to commit to creating a separate site for small business owners, here are a few other ways you can connect:

• Webinars/Podcasts: A recent survey from Business.com reported in PRNews (subscription required) found that webinars and podcasts are two of the most popular platforms that small business owners turn to for business decision making. If you have content – i.e. tips on maximizing employee benefits, succession planning strategies, wealth management options for small business owners – it’s fairly easy to create a podcast or a webinar and post it to your website. Just be sure to leverage it through the various social  media channels available (e.g. Twitter, Facebook)
• Blogs: According to a very unscientific Google search, there are XX blogs dedicated to small business issues. Start commenting on these blogs. Answer other bloggers questions. According to the SBSI, 39% of small business owners surveyed have a blog on their areas of expertise – find them and start engaging. Share their blog posts with your contacts via Twitter and LinkedIn. Let these bloggers know about your content – the webinars, podcasts and blog posts you’re creating.
• Twitter: If small businesses are a major target of yours, be strategic about your tweets. The SBSI found that 26% of small business owners are tweeting about their areas of expertise. Do the same. Find interesting and relevant information for small business owners and tweet it. Start following small business owners and other thought leaders on small business issues.
• LinkedIn: Join as many discussion groups on small businesses issues as you can, and be responsive. Help small business owners get the information they need by answering their questions, or start your own discussion group about your area of expertise.

Opportunities abound for financial services providers seeking to engage with small businesses through social media. Small business owners are already out there, and are seeking information from people like you – it’s up to you to go find them.

To reach Meghan:

Phone:   212.840.1661 
Email: Meghan@blisspr.com
Twitter: @meghanlantier
LinkedIn: Meghan Lantier