In Context - William Mills Newsletter

News and advice

July 2009

IN THIS ISSUE:

A Look Into the 2008 FinTech 100 Uncovers Sales and Marketing Benchmarks

WMA Chosen to Provide PR Support for FinTech Rankings

Don't Let Your PR Plan Get the Summertime Blues

A Look Into the 2008 FinTech 100 Uncovers Sales and Marketing Benchmarks

How much should you spend on marketing?

By Jerry Goldstein, vice president of WMA

One of the most challenging management decisions facing today’s financial technology companies is, “How much should we spend on sales and marketing?” Both functions are essential to customer acquisition, which is the lifeblood of every organization. Few good benchmarks exist, especially for smaller companies.

Start-up companies must establish budgets according to their business plan, but most operating companies allocate budgets as a percent of revenue. We believe the most meaningful benchmarks for successful marketing to financial institutions can be found by looking at the leaders within the industry. The William Mills Agency researched the amounts spent by FinTech 100 companies on sales and marketing.

Read more at fintechmarketing.com.

(Next Month, Part 2: "How to Slice and Dice the Budget")

WMA Chosen to Provide PR Support for 2009 FinTech Rankings

For the fifth year in a row, William Mills Agency has been selected to provide public relations services to SourceMedia publications, American Banker and Bank Technology News, and Financial Insights, an IDC company and independent research services firm, to promote this year’s annual FinTech ranking of the top global technology and service providers to the financial industry.

The rankings will be published in the October 29, 2009 issue of American Banker and the November issue of Bank Technology News as a special report that will contain detailed statistics and profiles on the top suppliers of hardware, software and services to the financial services industry, paired with expert analysis and commentary on the industry. Companies wishing to be considered for the ranking can access the submission guidelines here.

The deadline for submission is July 15th.

The Banking Twittersphere

WMA president Scott Mills to co-present at upcoming
Bankerstuff Webinar

"A Bank Success Story: How are they achieving their strategic goals with Twitter?"

July 16, 2009
2:00pm Eastern Time

Click Here to Register

WMA in the News

"Responding to a Press Inquiry: There's a Right Way and a Wrong Way"

CUES PR Insight
July 2, 2009

"CUs, Banks Ahead of Retail Curve in Social Media"

Credit Union Journal
June 1, 2009

Download WMA's Social Media Guidelines

Need help crafting a new media policy for your organization?

Borrow WMA's

Follow WMA On

Financial Media Intel
Industry Event Updates
Tips On Marketing And
Selling To Banks

twitter.com/wmagency

New on SlideShare

"Nine Things Every Online Newsroom Needs"

Don't Let Your PR Plan Get the Summertime Blues

By Scott Mills, APR, president of WMA

As spring comes to an end, so does the traditional growth season for most business-to-business organizations. The approaching summer months mark a time when executives usually huddle in conference rooms to brainstorm and strategize their activities for fall and the new year ahead. To ensure that your organization’s public relations and marketing plan does not lose the momentum you’ve worked hard to create, this time should also be used to reconnect with customers by integrating them into your PR and marketing plan in the following ways:

Marketing and press materials: Your customers’ experiences regarding your products and services, or their expert opinions regarding industry issues, can be leveraged to produce valuable marketing and press materials such as case studies, white papers and press releases. These materials are extremely valuable when it comes to demonstrating value and “pushing” company news. When customers go “on the record” to discuss how your company has helped their business, it inherently builds your credibility.

Bylined articles and interviews: The current economic landscape is forcing staffing cutbacks throughout business and trade media. Reporters are finding themselves spread thin with very little time to chase down sources and experts. By presenting them with article ideas complete with an organized list of users who are willing to talk to the press, you make their lives much easier. This dramatically increases your chances of publicity, while allowing you to tell the story the way you want it to appear.

Surveys and questionnaires: Using research instruments such as surveys and questionnaires is an excellent way to gain valuable insight regarding the industry you serve as well as the perception of your products and services among users. Not only can this reveal additional opportunities for your organization, it can also identify areas of improvement regarding the technology you provide.

As the summer sets in, remember to talk with your PR team about how you can include your customers in your PR and marketing. Not only will this keep your campaign fresh with marketing materials, publicity and product knowledge, it will keep your organization “top of mind” with customers while demonstrating your thought leadership.

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