Preparing bankers for meetings with journalists is a bit like readying a friend for a date. The bankers are a nervous, hopeful of a positive outcome, but not always sure what that even looks like. The job of the PR is to provide a road map of an upcoming encounter, explain what to expect and flag any dangers. Unlike a date though, the PR will act as a chaperone.
If they are meeting for the first time, bankers particularly like to know about the character and personality of a journalist.
The worth of a PR person can in large part be measured by their knowledge of and relationships with the media. Insight into journalists’ thoughts and views about the firm – a proxy for what the broader financial community thinks – easily outweighs the endless but useless upbeat client surveys produced by many a marketing department.
Thumbnail
A good PR will have sufficient familiarity with a journo to provide a thumbnail sketch.
Sometimes this is straightforward, especially if the journo is easygoing, understands the unwritten rules of the game, acknowledges the multi-layered on-or-off record moments and isn’t going to drop anyone in it unnecessarily.
Thankfully for us, quite a few journalists roll this way, recognising that a good, healthy ongoing relationship can pay dividends. Not that they will shirk difficult questions or sensitive subjects, but they will address them carefully and thoughtfully without setting off alarm bells and will be clear about any story intentions they have.
We PRs like these journos. It makes it easy for us to put a banker’s mind at ease. In fact, we sometimes use such journos to “blood” a freshly minted senior executive who is inexperienced and not media savvy. Friendliness and likeability are valuable commodities – on both sides of the media equation.
Conversely, some journos with whom banks engage can be quite spiky. Some even channel the Jeremy Paxman mantra of “why is this lying bastard lying to me?” They imagine nefarious goings on, hatched by wicked bankers behind closed doors.
Such journalists may be excellent reporters but let’s just say their methods can be somewhat … assertive. Our job, when faced with a banker with an expectant look on their face and eyes that say “I trust you, I really do”, is to prepare them without scaring the pants off them.
Either way, our first port of call is to one of the handful of databases that provide basic details of journalists and examples of their work. These subscription-only databases will display a CV of the journalist, usually with a photo, recent articles and other info such as awards. What they don’t provide is a character assessment – that's our job.
Briefing
Next, we prepare a briefing document. We make it look pretty by populating it with the database info, the photo and a couple of pertinent articles. The real meat though is our description of the journalist.
We are invariably complimentary. We employ phrases such as “friendly, knows the bank well”; “tough but fair”; or “has a deep understanding of [the topic]”. We insert details of previous encounters the journo has had with the bank and list the various themes in which they have shown interest. We will include feedback from our own conversations with the journo about what subjects they will want to explore in the encounter (some of which, hopefully, are ones we have suggested).
We then tell the banker in a pre-meeting briefing what we really think.
“Knows the bank well” means a question on any bank-related business could come out of the blue; stay on your toes – they might try to test you. “Tough but fair” equals pushy, tenacious, sceptical but (usually) respects the rules; expect little leniency but much discomfort. And “has a deep understanding …” means be prepared for in-depth analysis and probing questions; could be nerdy but this can be ok.
Of course, there is every conceivable shade of journalist in between the friendlies and the non-friendlies. I want a relationship with all of them. It is best to meet them when they are fresh to the beat. They invariably need help and we PRs love being helpful. Hopefully it is the start of a beautiful relationship that works in both our favours as I start introducing them to bankers. When the journalist is older, wiser and more gnarled, nothing comes close to maintaining a relationship that goes back years.
The simplest way to settle the nerves of a worried banker is to position the journalist encounter as a “meet and greet” – an introductory meeting with no story agenda, with discussions on background and off the record. Many journalists are happy to do this in the interests of starting a fruitful relationship. It doesn’t mean the meeting will be story-free but it does mean any potential article can be discussed and, if necessary, negotiated.
Toxic
Sometimes the relationship between a journalist and a bank or even an individual banker becomes toxic. One boss of mine banned any communication between the bank and The Wall Street Journal after a falling-out. The ban lasted a week before the journo who triggered the extraordinary response called my boss and apologised.
When relationships fall apart – and they often do across the industry – media engagements may still take place but the preparation for them changes shape. Meetings are usually perfunctory and heavily policed by PRs who want them over and done with as quickly as possible. Topics are pre-agreed and off-piste discussion is avoided. The banker is advised to keep answers brief and on topic.
It is a painful process for everyone. The banker will be nervous about saying too much, the journalist worried a clumsy question might make the situation worse, the PR praying the meeting doesn’t go pear-shaped because if it does, they know for sure where the fingers will be pointing. And it won’t be at the banker.
Jezz Farr has been a senior communications adviser to major international banks for more than 25 years