How Not to Wage a Public Relations Battle

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You know you’re losing a PR battle when Saturday Night Live calls you out for being a “sack”. Guess that’s what you get when your company, somehow, acquires a healthy supply of Swine Flu vaccines while the immunocompromised segment (e.g. pregnant women, cancer patients, etc.) of the population can’t get them.

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One of the great things about being an observer in this mess is watching the PR consultants battle it out with media personalities who hold a powerful position of influence. So it will definitely be fun to watch the PR firms hired by Goldman Sachs take on the likes of the SNL’s and the Jon Stewart’s of mainstream media in the court of public opinion.

Entities like SNL hold a tremendous power of persuasion over a jaded, content hungry public, so it’s incomprehensible why the best prognosticators in the financial world can’t forecast their own roasting when their CEO claims that “Goldman Sachs is doing God’s Work.”

I’m a believer that you can learn how to do successfully do something by observing someone who does a piss poor job of it, so for all you PR consultants or marketing students… take a look at Goldman Sachs from 2008 to 2009, and do the opposite.

Of course, if your stated goal is to become the most hated company in America, then by all means, follow Goldman’s lead.

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Posted by Matt SF @ 9 November 2009 6 comments

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Nov 9, 2009
8:32 pm

#1 Financial Samurai :

I loved this skit! Frankly, I think the friendly folks at GS don’t really care what people think. If you were getting the average compensation of $700,000 at that firm, I think you’d be psyched too!

It just goes to show we are in a rocking bull market recovery. Profits are almost back to peak lvels, and there are 10-20% less people to pay. This is why the job market is going to ROCK next yr!

[Reply]

Matt SF Reply:
November 10th, 2009 at 12:00 am

I agree, I clearly don’t think they care. That’s the benefit of being the biggest shark in the fish tank!

I’ll stay neutral on the bull market recovery comment. I’m not completely sold either way since I’ve been burned using that mentality in the past. I’m just going along with whatever direction the tape is going.

[Reply]

Nov 10, 2009
2:29 am

#2 Financial Samurai :

I’m being a little facetious about the bull market comment, as I’m really as cautious as ever. But when I can’t get a table for 2 at 9:30pm on a Sunday night at “The House of Prime Rib”, there’s something cooking!

I’ll take this bull market anyday. Better than 1 yr ago!

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