Still Working on Web 1.0 (and maybe you should be, too)
Oct 15, 2009
What’s one of the key lessons from social media?
For starters, communicators should respect the new ways audiences interact and meet them on their own terms. And frankly, most companies that put Social Media in such high regard is really questionable, given their handling of Web 1.0.
Remember that one? Publishing good content in HTML?
A good example of these forgotten basics in the Investor Relations world is the handling of annual reports online. Even though this is the Internet, where folks like to use their browsers to read, search, enlarge, bookmark, copy and paste, enjoy rich media, interactive elements, light boxes, related information–many companies are deciding that the LEAST they can do in meeting the expectations of their online audience is the right choice, and so provide only lifeless PDFs or freakish custom viewers designed by print publishing houses.
Perhaps social media is the answer! Perhaps all will be made well by Twittering about a recent posting of some required filing in PDF format, or blogging about their uninspiring filing-cabinet-of-a-website. “Web 1.0 is dead! Long live social media!”
Excuse me if skip the parade, I have to get back to working on Web 1.0.
twitpitch: Get back to basics of Web 1.0 before you invest in social media.@zutweets @tonyzuck shares insights for publishing good #IR content online.
Joe Boughner
Oct 15, 2009 13:10
It’s not just a web issue. I’m blown away by the number of companies and organizations that “want to blog” or “need to be on Facebook” when their own corporate / organizational culture is miles away from where it needs to be to support such robust, transparent and honest media.
Social media haven’t killed anything. They are a useful bunch of tools that, when used right, can complement other things in your toolkit – including a solid web 1.0 presence – but only if you have the culture to support them.
Tony
Oct 15, 2009 14:55
Good one, Joe!
It (the opportunity to “do” social media) strikes me as often being a distraction from the normal hard work of communicating, for many folks.
I agree that it has not killed other forms of communication, and does not pretend to; I may have been a bit grouchy that day, as it seems a bit too distracting in my own workplace some days. Thanks for the response.
Parker
Oct 15, 2009 15:04
What’s up, Tony? Long-time reader, first time commenter here at Zu.
I agree with some of what you’re saying, but I also think that in the field of IR most people are only doing the bare minimum to meet reg. filing rules because that’s all they can afford and no one has given them a reason to care about more. A fancy, online annual report is good in theory. But how many people have the resources to produce one and the audience to make one necessary?
Also – what’s the deal with the twitpitch at the end? If the idea is for someone to share the article, why not also provide them with the link to do so, in the twitpitch text?
Parker
Oct 15, 2009 15:06
I love the blog layout/design, btw.
Tony
Oct 15, 2009 16:41
Hi Parker, thanks for the positive feedback on the design, will pass along to Albert, Levi and the rest. Oh, and good tip on the twitpitch URL omission, will be more consistent!
Yah, as you say, a lot of online IR seems to be bare minimum, with everyone nervous about the “risk” of putting up a speech transcript, or what have you. It’s almost like IR is saying to legal “can you say it’s too risky for me to do my job so I can leave early?”, but I may be overly cynical!
As far as good online annual reports, I see their main strengths as being providing material for the more naive investors who are coming up-to-speed with the overall company story; I see them as good resources throughout the year, as they are more convenient to navigate then downloading a PDF; they also are a good way to leverage the effort put into bringing the original report together, (as well as the writing, photography and design).
At the very least, use the thing for “parts” to bring a lot of other site areas up to date.
Thanks for feedback, Parker!
But as you mention, it has to start with the idea that it is worth making an effort, and if IROs can’t convince exec that the owners deserve best efforts from their company in keeping them informed, then they may accept the idea that a fully valued share value (presuming a fully understood company) may also be the value of better online IR.
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