Chicken or egg?

Stephen Butler, Luminous Director of Stakeholder Engagement and Editor of Reporting Matters

The advancements in technology have had a profound impact on how we communicate and engage with each other. Technology has evolved over the years from simple text messages and email to the use of film, artificial intelligence, and virtual and augmented reality.

Today around 2.87 billion people worldwide are walking around with a supercomputer in their pocket – a device that can connect the user to a whole universe of information and experiences.

However, we have found that the B2B space has still to catch up with the potential and power that technology can have in helping companies connect with their investors, employees and customers.

But what comes first, the technology or the message? 

As communication specialists, we understand that what you get out is only as good as what you put in. But we also understand that having brilliant content that is marooned and static is a missed opportunity. 

Take, for example, a company’s annual report, which is both a snapshot of a company’s achievements and aspirations, and a shop window through which investors and others can view the beating heart of the business. When done well, the annual report can build trust and enhance reputation by skilfully communicating a company’s purpose, how it creates value, how it is performing, where it is going and, crucially in today’s ever more competitive world, what makes it different.

But many companies miss a trick. In producing their ARA as a one-off publication, they perceive it as such, too. They pour resources into something which has one key opportunity to circulate around the capital markets but with no extended comms programme to deliver its messages at a more receptive moment. A recent survey published by Vienna University of Economics and Business reveals that less than 40% of businesses further share the information in their annual report following first publication. Instead of unleashing a ‘communications comet’, with a magnificent long tail of key messaging opportunities, 60% of the companies surveyed simply produce something of a flash in the pan, whose relatively brief spark may easily be eclipsed by that of a competitor.

So why not leverage the content in your annual report and use it to engage with your stakeholders repeatedly throughout the year? 

Use and repurpose your primary data and messaging to highlight the value you create, your sustainability achievements, employee engagement initiatives, strategic goals and key case studies time and time again.

Developing a holistic multi-channel communications plan underpinned by the right technology platforms may well need a new way of working – but the rewards more than repay the effort. Use your annual report as an information resource, or data hub, from which you can derive themes relevant to your key stakeholders at the time of most interest to them. 

Pulsing your comms across multiple channels such as social media, the corporate website or even leveraging virtual reality (VR) throughout the year will successfully get your messages across to your key stakeholders and help keep them engaged with you rather than your competitors.

The right technology platforms may well need a new way of working – but the rewards more than repay the effort.

If you would like to extend the impact of your annual report but are not sure where to begin, follow our six top tips for communications that endure effectively.

1 Define your objectives
What are you looking to achieve? What do you want to accomplish by implementing this communication plan? For example, is it better engagement with employees, raising awareness of key achievements in areas such as R&D, or raising your profile among the investor community?

2 Define your content areas
Which elements of the report best highlight your key stories, messages and achievements? Leadership quotes, sustainability highlights, and case studies (whether on culture and purpose or pinpointing your strategy in action) all make for engaging messaging.

3 Know your audiences
List your key audiences and be sure to rotate your messaging cycle to meet the needs of all. Typically, you will want to engage: 

• Investors
• Employees
• Communities
• Suppliers
• Customers

4 Be channel savvy
Deliver your messages through channels, being careful to edit longer-form messages for sharing across more ‘instant’ media or as more ‘snackable’ content.

5 Create a timetable
Think across the whole year and develop a timing strategy to best deliver your communications plan in meaningful pulses.

6 Evaluate the results
Measure your results to gauge the impact of your programme. Make necessary adjustments to perform better next time. Your evaluation might take the form of:

• Monthly reports
• Progress reports
• Reports from other departments

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