From financial relations to public relations

I have been a new business manager for nearly a year at Target Public Relations. Previously I had been a new business manager/mortgage advisor for most of my life. Although I knew my skills were transferable, when I started I didn’t really see many correlations between the two industries. But 12 months on it is clear there are some ideas and practices that can apply to both professions:

1. Know Your Client - When making key financial recommendations for clients it was imperative that I understood as much as possible about a client’s past, present and future financial circumstances. This helped me to guide them through various key life stages where needs and demands evolved and changed.

When putting together a PR plan or campaign for a client the same principles apply. Only by taking the time to fully immerse ourselves in the client’s business can we get a true understanding of what requirements they need. Only by constantly revisiting and reviewing can an agency truly adapt and react to the client’s needs as their business grows and evolves.

2. Specialisation - As a mortgage advisor my job was to advise on mortgages (obviously!), what I didn’t do was diversify into pensions, debt management, bankruptcy advice and such like. I had a strong network of experts within those fields that I could turn to if needed, and likewise they came to me for mortgage advice.

Target specialises in PR. It doesn’t mean we cannot draw on experts in other areas of the marketing mix should the need arise, but it does mean that we are consistently honing and refining our experience and skills within the PR sector because that is what we do all day, every day.

3. Measuring Outcomes - Efficiency, transparency, value for money, results: these are all KPIs that I was examined on during my time in financial services.

As an agency Target PR works to bespoke KPIs for each client and whilst measuring the results are not always as clear (see Sarah’s blog from 1 February) as in financial services, there are similarities in how the work can be judged as being successful by adding value to a client’s business.

4. Communication - Having direct access to decision makers and maintaining a direct relationship with the client built trust and helped me to develop a deeper understanding of what the client needed.

Our PR account teams are led by company directors meaning every client has direct access to Target’s decision makers and relationships can be built and nurtured at board level.

I’m sure these ideas aren’t exclusive to the mortgage industry - let us know if you’ve had a similar experience crossing over into the world of PR, we’d love to hear your thoughts.

James Wood
Business Development Manager