Reaching & Impacting Your Audience in a Regulated Industry

In order for marketing to be efficient, companies must go where their customers are to promote their product or services. However, how can you reach your audience if marketing within your field is highly regulated? 

Marketing rules can limit regulated industries from their audience outreach. For example, law firms and investment banks are two highly-regulated industries that may struggle with marketing. 

Below are some key challenges such regulated industries face in marketing. 

Challenges of Marketing in a Regulated Industry

• Regulated industries are unable to market themselves due to advertising rules regulated by the state.
• Regulated industries are prohibited from revealing client information as part of a Confidentiality of Information clause. For instance, lawyers and legal firms are often not allowed to reveal private cases or client information.
• Regulated industries are not allowed to make false or potentially misleading information and advertisements about their services.
• Regulated industries should not promise anything of value when recommending services. 

Unfortunately, failure to comply with the marketing communications regulations can leave your firm at risk for financial losses and damaged reputation. 

While regulations can pose challenges, what is the solution? How can River North help you compliantly reach your targeted audience in a regulated industry?

Marketing tips for regulated industries

• Rules are constantly changing as the landscape evolves. Becoming aware of new and upcoming developments of regulations will always keep you a step ahead on how to market to your audience. 
• In December of 2020, the Securities and Exchange Commission “SEC” adopted a new “Marketing Rule” under the Investment Advisers Act of 1940 that represents a change in how investment advisers can market themselves and their products. 
• The new rules include that investment firms are allowed to use testimonials or endorsements in advertisements provided by the adviser. However, the advertisement must be compliant with the marketing rule. 
• River North can help you become a thought leader, connecting you with credible sources such as CNBC, The New York Times, The Washington Post, etc. 
• The benefits of being interviewed by a newsworthy source can help make your legal firm or investment firm more legitimate and reputable.
• A thought leadership strategy can help you attract interest and build trust with your intended audience
• Partially because of compliance concerns, It has taken time for law firms and financial services to leverage social media for marketing purposes. 
• River North uses Social Media Marketing to generate buzz and marketing momentum surrounding your regulated industry. 
• Facebook, Instagram, LinkedIn and Pinterest are the most common platforms businesses are on to market their products and services.
• Up and coming platforms like TikTok and Telegram open up a pathway for creating unique and effective content. 
• Having an effective social strategy can help regulated firms to not only stay compliant with the rules, but make the most out of social media by posting relevant content that is relatable to your audience.