Insider strategies on landing financial and business media coverage in 2024

For companies looking to land business or financial media coverage right now, the PR process is tougher than ever. 

Amidst an ever-shifting media landscape, here’s what companies are up against in 2024:

Challenge #1: The demand for digital content is nothing new, but the unyielding appetite for digital continues to cannibalize the traditional media giants, leading to further consolidation of editorial beats and reporters. Massive new rounds of layoffs have been hitting nearly every major press outlet, from the Washington Post and Wall Street Journal to the LA Times and Business Insider. 

Challenge #2: AI may be here to stay, but the influx of robots has clouded today’s media landscape. Generative AI is both touted and doubted, celebrated for its ability to increase efficiency and criticized for its imitations of journalist works and the population of outdated information. Media platforms like Bloomberg are already utilizing AI to curate content taken from press releases and research reports.

Challenge #3: The endless election cycle will continue to hijack headlines through the end of the year. It’s not just the U.S. presidential election that’s newsworthy in 2024; about half the global population is headed to the polls this year. Across at least 64 countries, including the European Union, this will be a record year for national elections, with more than 2 billion voters expected to submit ballots worldwide.

It’s no wonder that securing financial or business media coverage is a tall order for companies other than the Magnificent Seven or Wall Street darlings like Nvidia.

What’s a business looking for media attention to do? Bring on your strategic PR game and follow these four insider tips on playing to win earned coverage in 2024:

Craft compelling narratives

In a 24/7 news landscape that is often focused on the same old business beats – from market movers to economic data to politicians’ whistle-stop tours – storytelling remains the golden ticket to capturing the business media’s attention. A strong relationship with a journalist won’t get you far if you don’t have an interesting, proprietary, tangible story to tell them. The news cycle changes too quickly for commentary alone to get your company in top tier media. Point to a theme, a trend, a strong opinion. Firm positions and digestible, real-world insights are what make an expert a thought leader.  

Also read: FP for Nasdaq: Landing the holy grail in PR - A feature story for your company

Leverage data and AI

Dive into the sea of data-driven insights and AI tools to identify trends and opportunities for proactive engagement with financial and business media outlets. Hypothetically, let’s say one of our financial services clients is seeking to increase its visibility in tier-1 media. We lean into our deep institutional knowledge of market trends to launch an analysis of competitor activity and investor sentiment. In some cases, we might create a survey for priority stakeholders and use their feedback to build a clearer and more targeted picture of the evolving landscape. These tactics help us to identify key themes and topics resonating with the media that can reach the right audiences. We can both utilize the data and leverage our collective expertise to effectively communicate our client’s value proposition, personalize our outreach, and secure media coverage that aligns with the client’s strategic objectives.

Remain agile and adaptive

In the whirlwind of change, agility is your compass. Anticipate shifts in the media’s priorities and adjust your PR strategies accordingly because today’s news is already gathering dust. What angle of the story will the media be talking about next, and how can you differentiate your company’s C-suite executives from the crowd? There is a lot on deck for 2024. Aside from the US and EU elections, geopolitical tensions persist across the globe. AI is stealing headlines across sectors. The Fed is expected to hold steady on interest rates, giving economic pundits plentiful fodder to debate the Fed’s wait.  It’s crucial to adapt to the evolving news landscape, and remember, sometimes the best – and most respectful – move is to pause on pitching if breaking news dominates coverage.

Bots can’t bond

Speaking of AI, analysts and pundits everywhere are asking whether technology can replace PR and media specialists. Here’s the answer: AI may crunch numbers, but we're the ones having real conversations and forging genuine connections with the media. That’s why our human relationships beat algorithms every time. So it’s especially crucial in the age of digital anonymity to maintain meaningful connections with journalist friends. We also come equipped with genuine feedback, firsthand experience, new anecdotes, a sense of humor, and authentic, creative insights that a pattern analysis can’t pick up.

Also read: FP for Forbes: How to successfully navigate a media interview

For traditional media, the “new normal” of digital disruption is no longer new – it’s just normal. As legacy press platforms make digital moves of their own to remain competitive, strategic communicators and business media relations specialists should embrace change through new tools and technologies. However, it’s crucial to continue to rely on their deep knowledge base, contacts, and storytelling.

The path forward is clear: stay agile, harness technology, nurture relationships, and always give journalists a good story to tell.  

Need direction in building and evolving your communications and media programs? Check out our strategic counsel and resources on best practices with media relations.