By Gene Marbach/Group Vice President, Makovsky & Co.
Few PR and IR counselors can think like securities analysts, write like journalists and plan like generals. If you can, stop reading. Most likely, you already have a "seat at
the table." You know, THE table -- the one with the C-level executives. However, there is hope for the rest of us and, now more than ever, is the time for us to teach senior
management that our role is a strategic one. Some things to consider:
- Micro... Macro - Know your company and its industry inside and out. Read all of the SEC filings, the reports published by securities analysts as well as the media
coverage. Read reports and filings about your company's peers. Know the issues. Build bridges to your colleagues in finance, legal, marketing and other departments to learn
about developments such as new products or financial trends. Ask to be included in their meetings. Ask questions, lots of them. Know where to get the answers when you need
them. Also, learn your company's processes - manufacturing, distribution and so forth. Walk the stores, if your company is a retailer or distributes its products that way.
Visit the manufacturing facilities and so on. This knowledge will go a long way in helping formulate communications strategies and making your voice credible at the table in
crisis situations should they emerge. - Educate Senior Management: Not as easy as 1, 2, 3 - As PR/IR practitioners, we serve as "guardians" of the company's reputation. As many surveys demonstrate, non-financial
measures (e.g., corporate governance, marketplace standing, intellectual capital, customer satisfaction, etc.) are important considerations for investors. In the wake of the Wall
Street/corporate scandals, CEOs are (or should be) painfully aware of the importance of non-balance sheet items such as integrity. Communications pros need access to the top to
be effective in creating the strategies for communicating the non-financial elements of a company's story. If you don't have this access, build it "one brick at a time," unless
you're in an organization where the CEO already sees you as a partner. - The Media: Messenger and Watchdog - Working with the media is a two-way street. It is easy to get your managers to come out for interviews when the news is positive.
However, when bad news hits or in times of prolonged crisis, many CEOs are inclined to go underground. Precisely the wrong thing to do. As communicators, we understand the
importance of being heard in a debate and it is our job to get the uppermost levels of senior management to see it that way as well. Maintaining an open dialogue with the media
will ensure that your side is heard and will help develop a reservoir of goodwill and result in balanced reporting. Remember also that the media is an ideal way to communicate
with all of your constituents. One way of educating management on the importance of maintaining an "open door" policy with the media is to send the CEO examples of how peers
respond during a crisis situation (well before your company finds itself in one).