Building relationships with the media should be a matter of course
Thursday, February 02, 2012
After a trying time from the media when its results were announced three weeks ago, Tesco’s COO has now been moved to a different role.
The media showed no sympathy for Tesco when it announced a plunge in share prices in January, bucking a trend for consistent growth. It has been suggested by at least one commentator that journalists exacted retribution on the company for its closed-off approach to the media during the good times.
Building positive relationships with key journalists on a consistent basis is just as important during boom and bust. The media’s collective treatment of Tesco when it announced its results, and the embarrassment created by its chief operating officer selling shares a week before the results announcement, should encourage businesses to engage and respect the media as a voice for reaching the wider public and its influence in forming opinions.
Perhaps Tesco’s senior management will be counselled by PR advisers to take pains to establish relationships with the media and foster an open dialogue. It could be argued that had this approach already been in place, Tesco may have been treated more moderately by the media when the profit announcement was made.