It is going to take more than diddly-eye music and some comely maidens to persuade anyone to buy Eircom shares this time around.

Twelve months ago, it was a different story. Irish International spent the £3 million (€3.8 million) advertising budget on a campaign that suggested anyone could buy shares.

To their credit, the ads never suggested the new shareholders would make a fortune, although the mandatory cautionary small print did whizz by on screen in very small type. But as persuasive messages go, the campaign was successful: half a million people bought into the company.

Earlier this year, Goodbody Stockbrokers found the public's enthusiasm for Eircom shares has meant the share-owning public had jumped from 13 per cent to 17 per cent.

Rumours started earlier this week that Eircom had blockbooked media space and was going to start an advertising campaign promoting the shares. But with their plummeting values could advertising help the shares' image?

"It would be an insult to use advertising this time around," says Mr Chris Cawley, chairman of Cawley Nea and acting president of Institute of Advertising Practitioners in Ireland (IAPI). "I didn't like the creative on the campaign last year but it worked. Since then Eircom shareholders have hit commercial reality."

Instead of advertising, he thinks a more direct approach should be applied. "My feeling is that Eircom need some strong public relations, with Alfie Kane coming forward in the media as often as possible to represent the company," he said.

He cites Virgin's Richard Branson and Esat founder Denis O'Brien as highly visible executives who engender confidence in their companies.

"At this stage it's all about confidence and Eircom need to so some direct talking to the public to build that confidence," says Mr Cawley.

Mr Liam O'Donohoe, chairman of Des O'Meara, echoes the need to create a sense of confidence, citing the very different share aware environment in which Eircom operates.

Last year the emphasis was on the ability of anyone to buy shares, but this time he thinks the shares will appeal to institutional investors who can take a long-term view.

"From a communications point of view that means there's a very specific audience this time. It's a very different scenario and I think direct mail would be the way to go," he says.