One of the most noticeable changes in City
life in the past decade has been the willingness
of professional firms to put themselves about.
When I started in this business, accountants,
lawyers, chartered surveyors and actuaries
were not even allowed to advertise.
The ban became unsustainable when these
firms began to evolve from professional firms
to those run as businesses. After that it
was only a matter of time before they went
the whole hog into PR and marketing.
Today, a substantial proportion of the 300-plus
emails that get sent to me every week are
from professional firms. They have acted
on a deal, and offer comment; they have read
a government paper, and offer comment; the
stock market has moved, and they offer comment;
or they have produced a survey, and they
offer comment.
Most of these communications have an appendix
headed ‘Notes for Editors’, which
should provide background information that
helps the journalist understand the story.
However, professional firms seem to think
the purpose is to deliver a shameless plug. ‘Company
X is a law firm that advises the world’s
leading companies, financial institutions
and governments on their most challenging
transactions and assignments. With offices
in major financial centres, we deliver an
outstanding service to our clients anywhere
in the world.’
This is not PR, it’s indifferent marketing-
as journalists are wont to discover if they
ask an unsolicited question. It is interesting
how few companies know how to react when
probed on something that goes beyond their
established comfort zone, and enters areas
where opinion and judgement come into play.
Such enquiries ought to play to their strengths-
they are professionals after all – but
the opposite is too often the case.
When pursuing something arcane last week,
almost no one was prepared to provide me
with a view. It became obvious that talking
to the press was allowed only when it could
be based on written documents produced by
the firm. Anything beyond this risked being
uncontrolled, so was not allowed. That is
not PR, it is advertising.
(Re produced from PRWeek March 2007)
