Fine Balance

Published 25 January 2012

Many loathe the media, and in some cases, this is fully justified, but its role remains a valuable one for disseminating information and allowing companies to create and build awareness with customers.

There is often simmering tension between the media and companies, with the former not wanting to be deemed patsies and the latter keen for positive news coverage.

Companies in the financial arena certainly need to protect their image and the information they proliferate in the media but some do this more than others, much to the ire of journalists.

The challenge of handling a media presence is one all financial firms need to face but are the tight-lipped companies shooting themselves in the foot?

When does excessive compliance threaten to hinder a firm’s growth and development by stymying its relations with the media?

Journalists are a vital link in the financial services chain – they disseminate information and whether investment groups like it or not, contact with the media is essential to business.

There are several invisible threads, each with varying degrees of tension, that run through the relationships between journalists, internal communications teams and the investment professionals themselves.

As a former journalist, this blogger can sympathise with the difficulty of dealing with prickly firms who only speak to the media out of duty. This contrasts with those who truly have something useful to bring to the table.

CoreData UK collected data straight from the source, asking journalists which companies they rate across a number of factors.

The CoreData I-Media Index© is made up of six core drivers that form the foundation of the relationship between journalists and financial companies. The index aims to gauge the efficiency and effectiveness of the rapport between the two parties.

A ranking of the asset management companies journalists prefer dealing with is home to a mixture of independent and bank-owned asset managers – all of them substantial in terms of assets under management.

According to verbatim comments made by the journalists, these firms have strong communications teams who put forward relevant professionals with sensible things to say about the industry.

Efficiency and knowledge are two key aspects journalists prized when rating the five companies they favour.

On the other hand, companies considered opaque, cagey and controlling dropped to the bottom of the list.

Some large and very well-known companies find themselves in this position because they are difficult to get hold of and are very prescriptive about what is printed – and these are just some of the flaws highlighted.

At the end of the day, a company needs to take the decision of whether it wants to engage with the media or not.

If the answer is yes, then the powers that be within that company need to trust their professionals to get their point across while keeping any confidential information out of the discussion. онлайн займ займ онлайн на карту быстрозайм без пропискивзять займ онлайн срочно

Inigo Rudio