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)
