Poorly communicated investment propositions are a dime a dozen. Heisler Communications can help ensure that a company’s messaging and marketing materials are effective and compelling.
Heisler Communications provides a full array of investor relations and corporate communications services ranging from developing and implementing communications plans – to developing pitchbooks, websites and other marketing materials – to planning and executing effective investor outreach campaigns.
Heisler Communications can also help private companies prepare to go public – working closely with bankers and other advisors; developing marketing materials; and, coaching to help clients understand what it truly means to become a public company.
IPO preparation services include:
· Development of a professional investor presentation
· Key message development
· Drafting of speaking notes and/or script
· Presentation coaching and Q&A preparation
· Drafting business description of filing statement or prospectus
To learn more about Heisler Communications visit www.heislercommunications.com
Thursday, November 24, 2011
Friday, March 11, 2011
Comment: Why IROs shouldn’t use the telephone, conduct investor meetings and other hogwash
On March 3, 2011, Inside Investor Relations, a blog (or non-blog according to their editor’s comments?) published by IR Magazine featured an article titled, “Comment: Why IROs shouldn’t use social media”. The article stirred a few comments from parties that are currently involved in investor relations (some readers will have a slight chuckle at the play on the word “currently”). Those who commented argued that times have changed since the days of the fax blast and newsfeeds running off the printing press.
But let’s take a closer look at the merits of what the article itself discussed.
First, the author indicated that IR practitioners don’t blog or tweet, and “rarely put things in email.” One of the reasons given for this is that using these tools would result in selective disclosure.
Indeed a growing number of IR practitioners ARE tweeting and communicating through blogs. This may not have been the case in 2007, but times are changing. Some of us move forward, some earlier than others. Others reminisce or even fight to hold on to the past.
Now let’s tackle the selective disclosure argument. The fear, I guess, is that IRO’s wouldn’t want to discuss anything using social media because it would be to a selective audience. Certainly the author must also be against talking to investors over the telephone, or heaven forbid, in a closed-door meeting. Social media is pervasive and viral by nature. Far less selective than private telephone conversations and one-on-one meetings.
Perhaps the fear is really that an IRO might be held accountable to what they say if they do in fact use social media. There is some permanency to things discussed on the web and anyone and everyone can see it. Why else would the author discuss her inability to differentiate between “something that is simply interesting to investors and something that is considered material enough to be put in a news release”. Unless, of course, she really can not tell the difference between providing context and disclosing new material information. Yikes. Maybe there is a need for an IRO certification program after all. Intro to IR 101 – What is Materiality?
I am not even going to bother discussing the silly comment in the article saying that the target audience doesn’t “view company blogs, YouTube and Twitter to track companies.” There have been more than enough statistics put forward in the past two or three years that say otherwise.
Next, the author goes on to say that communicating with social media and writing blog posts is very time consuming and inefficient – that this time could be better used making ten telephone calls to investors. Hogwash! A well run blog, Twitter account or Facebook Page can save an IRO time. Most of the questions IRO’s get, especially around the time of an announcement, are repetitive. A well aimed blog post just might result in you not having to make those ten calls (or at least they would be much shorter calls).
Oh, right. Everything you say over a social media channel or blog has to go through a long editorial and vetting procedure with legal. What about your telephone discussions to a much more selective audience? Or those one-on-one meetings? Surely you are sticking to a script that has been vetted by legal for those calls and meetings too, right? Most likely not.
Oh, and if you are not disclosing new material information, just making information more readily available and/or providing context, I am sure you can save on some of those legal bills.
But let’s take a closer look at the merits of what the article itself discussed.
First, the author indicated that IR practitioners don’t blog or tweet, and “rarely put things in email.” One of the reasons given for this is that using these tools would result in selective disclosure.
Indeed a growing number of IR practitioners ARE tweeting and communicating through blogs. This may not have been the case in 2007, but times are changing. Some of us move forward, some earlier than others. Others reminisce or even fight to hold on to the past.
Now let’s tackle the selective disclosure argument. The fear, I guess, is that IRO’s wouldn’t want to discuss anything using social media because it would be to a selective audience. Certainly the author must also be against talking to investors over the telephone, or heaven forbid, in a closed-door meeting. Social media is pervasive and viral by nature. Far less selective than private telephone conversations and one-on-one meetings.
Perhaps the fear is really that an IRO might be held accountable to what they say if they do in fact use social media. There is some permanency to things discussed on the web and anyone and everyone can see it. Why else would the author discuss her inability to differentiate between “something that is simply interesting to investors and something that is considered material enough to be put in a news release”. Unless, of course, she really can not tell the difference between providing context and disclosing new material information. Yikes. Maybe there is a need for an IRO certification program after all. Intro to IR 101 – What is Materiality?
I am not even going to bother discussing the silly comment in the article saying that the target audience doesn’t “view company blogs, YouTube and Twitter to track companies.” There have been more than enough statistics put forward in the past two or three years that say otherwise.
Next, the author goes on to say that communicating with social media and writing blog posts is very time consuming and inefficient – that this time could be better used making ten telephone calls to investors. Hogwash! A well run blog, Twitter account or Facebook Page can save an IRO time. Most of the questions IRO’s get, especially around the time of an announcement, are repetitive. A well aimed blog post just might result in you not having to make those ten calls (or at least they would be much shorter calls).
Oh, right. Everything you say over a social media channel or blog has to go through a long editorial and vetting procedure with legal. What about your telephone discussions to a much more selective audience? Or those one-on-one meetings? Surely you are sticking to a script that has been vetted by legal for those calls and meetings too, right? Most likely not.
Oh, and if you are not disclosing new material information, just making information more readily available and/or providing context, I am sure you can save on some of those legal bills.
The importance of the IR website
A quality investor relations website is a valuable dissemination tool that can inform and influence opinion. Given the size of audience that it is possible to reach, it pays to develop the most content rich site possible. Having rich, up-to-date content is key to building a quality investor relations website. The most oft cited frustration for online audiences is out-of-date information. Posting new content as soon as it is available, periodically reviewing all content for relevance and checking links to ensure that older information is still accessible are all ways to increase user satisfaction.
With increasing competition for investor dollars, a robust, user-friendly IR section can support the generation of new interest in your company while at the same time ensuring that existing shareholders have quick and easy access to the information they require. A quality IR website can also “level the playing field” among issuers as it is relatively easy (and relatively inexpensive) for a smaller issuer to provide the same level of information to investors as a larger one.
The website and all other electronic disclosure media should be considered an extension of your normal disclosure practices and are therefore subject to the same laws, rules and regulations. At least in Canada, the corporate website is not a substitute for regular continuous disclosure through an approved newswire, but rather an adjunct to proper disclosure practices. The IR section should provide a constant flow of valuable supplementary information to all investors on a regular basis, keeping them well informed and allowing them to make quality investment decisions.
With increasing competition for investor dollars, a robust, user-friendly IR section can support the generation of new interest in your company while at the same time ensuring that existing shareholders have quick and easy access to the information they require. A quality IR website can also “level the playing field” among issuers as it is relatively easy (and relatively inexpensive) for a smaller issuer to provide the same level of information to investors as a larger one.
The website and all other electronic disclosure media should be considered an extension of your normal disclosure practices and are therefore subject to the same laws, rules and regulations. At least in Canada, the corporate website is not a substitute for regular continuous disclosure through an approved newswire, but rather an adjunct to proper disclosure practices. The IR section should provide a constant flow of valuable supplementary information to all investors on a regular basis, keeping them well informed and allowing them to make quality investment decisions.
Monday, November 29, 2010
IR needs to help educate investors about IFRS
From the Cinaport Blog - IR needs to help educate investors about IFRS and its impact: http://post.ly/1Ga5k
The changeover to International Financial Reporting Standards (“IFRS”) in Canada begins on January 1, 2011. With the deadline for the IFRS changeover fast approaching it is becoming clear that investor relations professionals will have to help educate investors about the differences between accounting standards and the impact that the changeover will have.
According to the results of a recent members survey conducted by the Canadian Investor Relations Institute (“CIRI”), “a significant portion of the Canadian investment community is not prepared for Canada’s transition to IFRS.”
“What really jumps out is the important educational role that investor relations professionals play in this transition,” said Tom Enright, President and CEO of CIRI. “Australian research shows companies that proactively provided a greater level of IFRS disclosure during their conversion to IFRS in 2005 benefitted from more accurate analyst forecasts. Therefore, we applaud those Canadian Issuers that have provided and are planning additional communication efforts to assist the Street in understanding the impact of IFRS. I strongly encourage other companies to follow suit.”
The changeover to International Financial Reporting Standards (“IFRS”) in Canada begins on January 1, 2011. With the deadline for the IFRS changeover fast approaching it is becoming clear that investor relations professionals will have to help educate investors about the differences between accounting standards and the impact that the changeover will have.
According to the results of a recent members survey conducted by the Canadian Investor Relations Institute (“CIRI”), “a significant portion of the Canadian investment community is not prepared for Canada’s transition to IFRS.”
“What really jumps out is the important educational role that investor relations professionals play in this transition,” said Tom Enright, President and CEO of CIRI. “Australian research shows companies that proactively provided a greater level of IFRS disclosure during their conversion to IFRS in 2005 benefitted from more accurate analyst forecasts. Therefore, we applaud those Canadian Issuers that have provided and are planning additional communication efforts to assist the Street in understanding the impact of IFRS. I strongly encourage other companies to follow suit.”
Friday, November 5, 2010
Thursday, October 28, 2010
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