Choosing a PR agency

Public relations is the deliberate, planned and sustained art of creating goodwill towards your organisation. The best PR is simply providing customers with exemplary service.

A PR agency creates new channels of communication. The agencies are similar to insurance intermediaries in that they can be divided into specialist or general consultancies. They can also be split between those that are independent and those that rely heavily on the allegiance of one major customer.

It is important that there is chemistry between an organisation and the proposed account handler. Personal recommendations can prove invaluable.

Consultancies work on a retainer fee basis, set at an annual rate and payable monthly in advance with a three-month notice period. The fee is based primarily on the number of hours account handlers work on the account.

In addition, you may be expected to reimburse costs for telephone calls, faxes, postage, photocopying and travel.

Choosing a consultancy with current experience in the financial services market is an advantage, as it will quickly gain a working knowledge of your business. The agency should be able to reach your target audiences, so ask for evidence of previous campaign successes.

Supply your shortlist of consultancies with a brief including: business plan objectives, current promotional activities, and PR priorities. Ask the agencies to prepare a written proposal, including an estimated budget.

Also ask them to outline precisely how much those presenting the proposal will be involved.

Good PR recognises the variety of influences that will build or destroy your most precious asset - goodwill.