Who coined the phrase all publicity is good publicity? And is it true?

Before we answer that, I asked three Australian CEOs and MDs from the financial services and technology sectors what they thought of this phrase – here’s what they said:

• “While the phrase ‘all publicity is good publicity’ gets thrown around often, I don’t think it completely holds true, especially in industries like wealth management where trust is crucial. Publicity, if not well thought out or responsibly executed, has the potential to harm reputations and relationships that take years to build. Consistent messaging, transparency and the intent behind our communication are far more important than just being noticed for the sake of it.

• “Although this may ring true for some, I believe it’s very dependent on the industry you’re in. In the world of financial services where people entrust you with their financial security, this certainly isn’t a mantra I would subscribe to. Integrity as an organisation is key and negative publicity would be damaging to customer confidence.”

• “No, particularly if you consider the controversial matters that the media is most interested in.”

The quote is most often attributed to American circus promoter and politician PT Barnum, and considered a derivative of Oscar Wilde’s, “The only thing worse than being talked about is not being talked about.”

 Taken wholesale—assuming you’re not in the business of celebrity promotions—I think we can agree that it is not true. But to Wilde’s point, if the media and their audiences aren’t reading your views, might your business and its story be conspicuously absent among your peers?

We recently profiled an executive in an Australian tier one daily, and, like most earned public relations outcomes featured in quality media, it was not self-serving, product-centric or packed with key messages. But it was interesting, and it showcased the calibre of innovation being undertaken in the client’s industry, and indeed the client’s business.

The piece garnered two follow-up opportunities from different reporters, one of which wrote for an industry trade publication that was not representative of the client’s core business. That publication did, however, represent an industry that the client’s MD felt could benefit from the skills and experience of their staff, and resulted in a board agenda item related to whether there was an opportunity to begin serving that industry.

The interview went ahead, and it has the potential to one day feature as a key moment in the company’s growth story.

In my experience, most CEOs are much more sceptical of publicity than their communications and marketing execs. Rightly, they see the business world containing only two things: threats and opportunities, and the opportunity will only be pursued if it far outweighs the threat. But what if the subsequent opportunities aren’t known?

Alongside well-researched strategy and planning, growth can come from discovery exercises that aren’t always designed to get you to an intended destination. Every publication has a known target audience, but we don’t know exactly who will read the stories we place for our clients and what ideas they will spark – nobody does, which is part of the magic of public relations.

Others may see growth or partnership ideas present in your business before you do, and snagging interest from a reader who respects the reporter who chose to write about your business is a great way to leverage a publication’s endorsement and invite opportunity.

Scott Schuberg is the Managing Director of Cognito Australia, assisting clients in the financial services, technology, sustainability and professional services segments with their public relations, crisis management and corporate communications needs.