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Why invest in investor relations?

Posted on February 20, 2012 by Anthony Fensom

Companies considering committing time and effort in investor relations (IR) campaigns now have a powerful incentive to do so.

According to research conducted in both the United States and Australia, “superb” IR does have an impact on company valuations, with one survey showing it can affect market value by as much as 25 per cent.

Rivel Research Group surveyed 302 buy-side investors from the United States and Europe in spring 2011 to determine the impact of positive IR on market value.

The results showed that “IR can account for a total variance of 25 per cent in a company’s valuation – ranging from a premium of 10 per cent for ‘superb’ IR to a discount of fully 15 per cent for ‘poor’ IR”.

When asked what they considered to be “superb” IR, respondents cited disclosure, responsiveness to queries and access to senior management, but the key message was the need for transparency.

While companies may provide copious amounts of data on their operations as part of their disclosure obligations, Rivel said transparency in terms of connecting the dots between what the data meant for future performance was often lacking.

The key to transparency is following the same principles as any good communicator – being open, honest and frank.

But what does transparency in IR mean?

One buy-side analyst/portfolio manager explained to Rivel:

“Being candid. I think that is the number-one thing..and not dodging questions. These are tough issues these days, so there are tough questions to be answered. If they are very candid in their answers, for that they get respect. And getting back to me in a timely manner if they can’t answer questions on the spot.”

Rivel said getting the premium of 10 per cent did not mean providing more information, but rather, the right kind of information concerning strategy and how it related to future performance.

According to Ian Matheson of the Australasian Investor Relations Association (AIRA), IR is a two-way process which can ultimately lead to a reduced cost of capital for companies.

“Good IR is like pumping up a football – you have to keep pumping, and it takes time and effort before you see the results,” he says.

“You have to keep communicating during the good times and bad, and you shouldn’t link the share price to a successful IR campaign.”

In July 2011, AIRA released its own survey results which showed that “excellent” IR practices could contribute more than 5 per cent to the valuation premium of Australian listed companies.

An overwhelming 89 per cent of respondents, comprising fund managers and analysts, said IR had an influence on corporate valuations. Importantly, 30 per cent said the discount for poor IR could be greater than 15 per cent.

The effects may be even more pronounced at the smaller end of the market, where competition for attention from the investment community, media and public is greater.

Ultimately, positive IR is based on successful communication. It is about expressing your value proposition with a clear and simple message, and knowing your company and your investors.

By clearly and consistently stating objectives, communicating through the good times and bad and being reliable and consistent in your IR activities, it is possible to be rewarded with a higher market valuation than might otherwise have been achieved.

For more information on this subject, refer to the Rivel research at http://rivel.com/blog/?p=19 or the AIRA website at http://aira.org.au/

Posted in Investor Relations, Media Relations | Tagged AIRA, ASX, communication, investor relations, investors, shareholders | Leave a comment

Professional services marketing: It just got easier

Posted on February 2, 2012 by Anthony Fensom

 

Ever wondered how business professionals can become media personalities? For those embarking on a career in professional services, it might be reassuring to know that at some stage in their lives, often-quoted experts such as demographer Bernard Salt or economist Chris Richardson were relative unknowns.

Happily, there are now plenty of opportunities in both “old” and “new” media, as well as other forums, to promote yourself and your business. Regardless of your profession, if you plan on building a reputation in your chosen field it’s worth keeping some of the following points in mind:

1) Have a point of view

Let’s start with the basics: who is your audience, what do you want to tell them and how do you want to do it?

If you are a lawyer, then you will likely be comfortable discussing current trends in your particular area of interest, such as resources, real estate or intellectual property. What upcoming legislation is likely to affect your clients and how can you easily explain it to them?

If you’re an accountant, then your clients – and potential clients – will no doubt welcome your input on upcoming tax changes or how to better handle current business issues, whether it is advice on mitigating the impact of the mining tax or preparing for merger and acquisition activity.

What point of opinion can you offer that differentiates yourself from other thought leaders?

2)    Get writing

Whether it’s a blog post, an article for a professional journal or contributing to a client newsletter, writing is a great way to build your profile as an expert in your field. Even better, unlike a media interview, a submitted article can be written to your exact desire, although be aware it is subject to editorial review.

Remember to write the article as advice to others, and not purely as an advertisement for your business. People are looking for your recommendations, not a sales pitch.

There is also no better way of boosting your website’s ranking than having new content published regularly – an obvious form of search engine optimisation.

3)    Get speaking

As well as writing, speaking at industry events, conferences or other networking activities can be an excellent means of raising your personal profile. Why not turn your speech into a short, three to four-minute YouTube clip which you can put on your website or send to clients?

Participating in media interviews will require speaking with confidence. Mastering the television or radio interview is another important skill that requires training and rehearsing.

Public speaking groups such as Toastmasters can help boost confidence in speaking in front of an audience. If all else fails, talk to the mirror until you have hammered home the key points!

4)    Be social

In the current age of social media, there are increasing opportunities to promote your expert skills to a broad audience. For professionals, LinkedIn is perhaps the best starting point – make contacts and start participating in some of the many active groups.

Facebook is still the biggest social media network and it is another way of promoting your articles, blogs or other content, along with Twitter, Google+, YouTube and a host of other networks.

The basic rule of social media is to be authentic – don’t overly promote yourself but actively engage and share with your community.

5)    Be accessible and prepared

Once you have put yourself “out there,” you will have to be prepared to work to editorial deadlines and be available for comment when needed. The media, like any other business, has its own rules and playing by them offers the best chance of success.

Don’t send out a media release at 5 pm on a Friday afternoon – try and make your announcements in the mornings, and make sure they are targeted to the right media. Journalists receive hundreds of media releases each day, so make sure your release or “pitch” stands out from the crowd.

By following the right approach and seeking the appropriate professional public relations support, it is possible to get known in your field – and the clients should follow.

Posted in Media Relations, Social Media | Tagged accountants, accounting, engineering, engineers, law, lawyers, marketing, media, media relations, professional services, Public Relations, social media | Leave a comment

5 top tips for winning investor/media relations campaigns

Posted on January 11, 2012 by Anthony Fensom

Standing out from the crowd is difficult at the best of times for smaller businesses, particularly in Australia’s crowded resources sector where there are some 800 listed companies. How do you get your company favoured by investors and media in such a competitive environment?

In 2011, BWH Communication won Public Relations Institute of Australia (PRIA) awards at both the national and state levels for its campaign for Brisbane-based minerals explorer Carpentaria Exploration (ASX code: CAP), entitled “Carpentaria Exploration – Striking a Rich Vein of Support”.

Here’s five reasons why the judges liked the campaign – and how you can apply them to your company too:

1)    Do the research. CAP listed in November 2007 at the end of a long bull market for resource stocks, but like the rest of the sector then ran smack into the GFC in 2008/09. Research identified what the priority areas were for coverage, which stockbrokers were paying attention to CAP and the sector, what investors were saying and where the company saw its key targets, including shareholders, potential investors, the media and community. Such information is key in preparing a strategic communication plan specific to the company that reflects the current (and anticipated) environment. This includes determining the key spokesperson(s), workshopping the key messages, undertaking any required media training and identifying the target audience.

2)    Be proactive. Investors and the media aren’t on standby just for you, so be proactive in getting the message across. If the CEO is going interstate for a conference or meeting, organise meetings with media/investor targets in the same city. If a publication is running a current feature on the company’s target industry, check if they will accept editorial ideas and follow up. Be alert to what’s happening in new and traditional media and pursue all opportunities to spread the message. Make sure also that your spokesperson(s) are available to respond quickly when the need arises. In CAP’s case, this has meant doing media interviews and fund manager meetings in remote or overseas locations, and often taking the time to respond directly to investor queries.

3)    Get the message across. When drafting announcements for the stock exchange or a presentation for brokers, ensure the highlights are presented up front and stated simply and concisely. Don’t bury the message in verbose language, or leave it to the reader to wade through pages of jargon before getting to the conclusion. Hit them between the eyes, like a good tabloid headline, and you’ll be halfway there to getting their understanding, and hopefully support. Timing is also important – CAP aims to release its ASX announcements early in the week and close to market opening, where possible. Similarly, media releases are never issued near deadline.

4)    Personality rules, OK? It’s no use having a boring and bland spokesperson, and Carpentaria’s executive chairman, Nick Sheard, is anything but. Every company or brand has its own personality, so find yours and use it to your benefit, to ensure you are different from competitors. What is your unique selling proposition? What aspects of your business make it stand out? Not every CEO can act like Richard Branson, but it helps to have an engaging personality that makes people pay attention.

5)    Use all the tools at your disposal. In the “old” days this might have meant a presentation at a stockbroker’s office or a media release to the local newspaper. These still work, but in the 21st century there is also social media such as YouTube, Twitter and Facebook. Every company has its own varied audience and there are multiple channels to reach them. While some are more effective than others, depending on the type of business, don’t be precious about a particular format or you will be doing the business a disservice. For its part, CAP has used all the above channels to communicate with its audience.

Have any further suggestions? We’d love to hear them.

Posted in Investor Relations, Media Relations, Social Media | Tagged Australia, Carpentaria Exploration, investor relations, media relations, mining, PRIA, resources, social media | Leave a comment

Sticking to the simple point

Posted on November 11, 2011 by Krista

To keep abreast of industry trends, issues, new products, events, training opportunities, learnings, blunders, amusing anecdotes and a smidgen of gossip, I’m subscribed to a number of blogs, news summaries and e-newsletters.

There is a balance to be had, as who has the time to digest much of the information overload that makes its way into the inbox on a daily basis? Often it’s a case of skim reading a headline. Too often, these ‘nice to have but not important’ emails sit in my inbox for a matter of days before I do a mass clear out without opening the said entry and send it straight to the recycle bin.

But I believe keeping an eye open is important to stay up to date with the variety of communication lessons that people around the world are voluntarily sharing instantly by the second. Whatever industry or sector you’re working in, there are tomes of online resources available to subscribe to, comment on, agree or disagree – but it gets you thinking. Some of the content I find is useful to share with my colleagues and generate an internal discussion, hopefully to inspire creativity or new ways of thinking.

Which brings me to an interesting article targeting would be authors listing ‘intensifiers’ that should be avoided in your writing. It lists some gems, including ‘awesome,’ ‘absolute’ ‘fantastic’ and ‘very’.

It got me to thinking about terms that are overused in media relations and too often find their way into a well-meaning press release.

Obvious clichés that come straight to mind are ‘unique’ – is it really? ‘Exciting’, surely this is subjective. ‘Implement’ and other corporate speak – could you simplify it and say ‘start’ or ‘apply’? And, why is everything ‘forward looking’?

Going back to when I was journalist, the most off-putting thing I hated seeing in a press release was ‘one-stop-shop’, but at the time too many marketeers saw it as their unique selling point.

This isn’t a new topic, another blogger has undertaken an analysis looking at the top overused marketing buzzwords polluting press releases – he lists 100 of them, but I thought the top 10 would give pause for thought:

1. Leader (of what?)
2. Leading (how do you know?)
3. Best (according to who?)
4. Top (of what?)
5. Unique (really?)
6. Great (again, according to who?)
7. Solution (this is another term that has become overused)
8. Largest (of what?)
9. Innovative and 10. Innovator (these creep into press releases all the time and therefore becomes meaningless).

I’m sure there are more, but the lesson to be learned with respect to media relations is how would you tell the story to your husband or wife over dinner. What are the facts in simple, plain English, not patronising terms and can you simplify your copy without the ‘intensifiers’?

Achieve this and you will have achieved a small victory not only for media relations, but also for the English language.

 

Posted in Media Relations, Social Media | Tagged creative thinking, new ideas, research | Leave a comment

Every event needs an emergency kit

Posted on October 14, 2011 by Anthony Fensom

Every event needs an emergency kit
By Trudie Parsons, BWH

Irrespective of how meticulously planned your event may be, it always pays to have your event emergency kit close to hand.

Even when you think you have every last detail accommodated, you just can’t know what little hurdle will come your way on the day of an event. Neither can you pack for all your suppliers – someone, somewhere is guaranteed to need something out of your emergency event kit.

In our office we have an emergency kit ready to go that we can just pack up and take to any event. We use a tackle box – it’s the perfect size and has great storage for all your odds and ends.

So what should be in your event kit? While each event may have slightly different requirements, some basics items are listed below.

• Masking tape, double sided tape, sticky tape
• Blu-Tack, stapler, staples, staple gun and glue
• Velcro dots, paper clips, rubber bands, thumb tacks
• Pens, marking pens and pencils
• Rope and string
• Ruler and a tape measure
• Scissors and utility knife
• Post it notes and paper
• Extension cord
• Batteries
• Torch
• Basic tools e.g. hammer nails, screwdrivers and wrench
• Spare name tags holders and cards
• Small sewing kit
• First Aid Kit, sunscreen, water bottle, hand sanitiser and wipes
• Sun hat and umbrella
• Event checklist and all supplier contact phone numbers
• Copies of documents such as speaking notes, run sheets, event permits, supplier quotations and floor plans

What do you have packed in your emergency event kit?

Posted in Media Relations, Stakeholder and Community Engagement | Tagged community engagement, event management, events, Public Relations, stakeholder engagement | 1 Comment

Putting your personality out there

Posted on September 12, 2011 by Krista

I was fortunate enough to visit the Brisbane Writers Festival recently and listen to one of my favourite authors discuss her journey to three internationally acclaimed, bestselling novels.

Kate Morton was living my dream – in addition to being lovely, interesting and intelligent to boot. Travelling the world, meeting enamored fans as part of her books’ marketing regime seems like a great ‘perk’ of the job.

I was therefore curious when Morton said she was uncomfortable with using social media as she claimed that she struggled to find anything interesting to say.

Here I was sitting in a room filled with men and women of all ages and backgrounds hanging on her every word – on the back of a second sold-out session at the week-long festival.

People were questioning Morton on her literary influences, education, family and where she found inspiration to create the characters and the secrets that they had come to love and share. They wanted a sneak preview of the next book and a snapshot of Morton’s plans for the future.

Contrary to Morton’s point of view, this seems to indicate widespread enthusiasm from the ‘market’ in meeting the woman behind their favourite stories.

I think this goes to prove that there is a real appetite among our ‘communities’ to hear more about the ‘real people’ behind our books, products or services – whatever it is the business is offering.

Crucially, social media specifically shouldn’t be another corporate face, but an insight, a point of view, a picture or glimpse of what you stand for, believe, think or are even enjoying at any given point in time. For me it’s currently Morton and her mysteries.

Don’t get me wrong, entries should always be considered and proofread, but they should come from a real person, not from a corporate style guide.

I don’t believe that social media can replace those wonderful hours shared with loyal readers, but the point is that there is an audience – and hunger – out there for news, updates and exploring a little bit of the personality behind ‘the product’.

Now, to go and get Morton’s latest novel and start penning my own bestseller!

Posted in Social Media, Uncategorized | Tagged Audience, communication, social media | Leave a comment

A media release isn’t ‘just’ for journalists

Posted on September 2, 2011 by Krista

All too often there is an expectation that a company’s news release on their new, improved, leading-edge product will prompt a cry from the editor: “Hold the press!”

Unfortunately, the reality is this isn’t usually going to be the end result, with your story competing for attention with products and services from around the world – such is the effect of globalisation.

Journalists receive hundreds of press releases into their email inboxes daily and often complain about PR professionals’ follow up calls hounding them about ‘this’ or ‘that’ product. And, don’t forget the Australian media is pretty small with limited space when compared with other countries’ media industries.

Of course timing is always an issue too. You could have a great news story but the best intentions and forward planning can’t control world events from happening. Your item could lose its space on page three and end up on the cutting room floor in the blink of an eye – never to reappear again.

But don’t despair. Should the media release have a good ‘news angle’ or a point of difference that would appeal to the targeted media’s specific audience then the journalist may be able to start work on your copy – usually as part of a wider story. Don’t expect though to see the release printed verbatim.

However, there are other benefits of the media release apart from getting your company news coverage in the local newspaper.

Putting your point of view across publically assists in building your ‘brand’ as a thought leader. It becomes a useful tool to place on your website and send to stakeholders as part of your attempts to establish your reputation on a particular topic. It starts a dialogue on a subject with your audiences and helps the process of building relationships.

Sending out your release to stakeholders ensures that there is a public record of your opinion and thoughts on a specific issue – mitigating negativity if your comments are eventually printed out of context in a media report.  Politically, you may wish to show your support (or criticism) of an organisation, strategy or movement.

A media release, sent out to journalists and wider stakeholders, as well as posted on your website is a good method to publish your view. Don’t forget to point to your ‘updated news section’ through your other channels such as Twitter, Facebook or even your printed newsletter.

Finally, putting out comment on various issues and news stories ensures that your name is fresh in the reporters’ minds for future articles or broadcasts. And, on a similar topic they may start putting in calls to you for comment if you can start building those relationships early.

The value of media relations is clear and well known. It gives you that third party endorsement that advertising is unable to offer – and without the added expense. However, the humble media release is more than its name suggests and should be considered a bigger PR tool.

Posted in Media Relations, Social Media | Tagged journalism, Public Relations | Leave a comment

ASX announcements: 5 tips on keeping it real (simple)

Posted on August 22, 2011 by Anthony Fensom

Getting the good news out to potential investors and shareholders has never been tougher. With some 2,200 plus companies currently listed on the Australian Securities Exchange (ASX), the competition for attention is intense, particularly at the smaller end of the market.

Add to this the problem of our increasingly time-poor, information-rich society where we are constantly flooded with information, whether from so-called “old media” of newspapers, TV and radio, email or social media platforms such as Twitter, LinkedIn or Facebook.

Making your ASX announcements stand out from the crowd is difficult, but by using the right methods it is possible to get attention. Here are five tips for announcement writers on keeping it real (simple) for the benefit of investors:

1)    Keep it simple, stupid (KISS).

It’s the old KISS principle and if it works for US presidents like Bill Clinton, then it certainly works for you and your company. Assume your readers have average intelligence; don’t assume they are all geologists, biologists or nuclear physicists for that matter.

Express the facts in a clear and concise fashion. Use plain English and cut, cut and cut again until you have condensed the information to two pages or less.

Eliminate repetition wherever you find it. Some words or phrases that can be eliminated straightaway include “in order to”; “that” from “said that”; “in conclusion”; “as a result of”; the list is endless.

If you really want to spell out details, include a reference to more information being available on your company website (a great form of cross-promotion!).

2)    Facts upfront

Getting the attention of readers requires putting the key information upfront. Lose them in the first paragraph and they likely won’t wade through the rest of the text.

Think of writing announcements like newspaper articles, where the key facts come first and the less important details later.

It is recommended to include a highlights section at the start of your announcement spelling out the key points in dot point form (one line per highlight, and no more than five).

3)    Pictures tell 1,000 words

It may be an old saying, but it also happens to be true. A picture does tell a thousand words and while your writing may be excellent, sometimes it’s far easier to show the progress of a project or new product with photographs.

However, if the project is technical, such as a mining project, then it might be best to put the relevant maps and photos in an appendix (and at least from the second page) so to not clutter the key points on page one.

4)    Maps & charts

If you are planning to include maps and charts, make them understandable to non-experts in your field. Unfortunately, many companies include diagrams and graphs which no doubt their technical experts swoon over, but leave many investors scratching their heads.

Technical diagrams should be explained in simple terms using minimal jargon. Used properly, they can be a valuable addition to the announcement.

5)    Jargon

Another barrier to telling your story. Jargon and acronyms have a place and that place is when you are discussing issues with those in your industry, whether it’s geologists, lawyers, accountants or doctors.

By all means include jargon where it is required, but explain what you mean and keep it to a minimum when you are putting out an announcement or media release to the general community.

Avoid acronym soup – while you and your directors may understand terminology like ASX, EBIT, EBITDA, NPAT, NPV, PJ or 2P etc, not every reader will. Spell out the term on first reference and avoid excessive usage.

These are just five basic areas among many others open to improvement. Ultimately, the payoff is in increased market value for your company, making an investment in better writing well worth the effort.

Posted in Investor Relations, Media Relations | Tagged ASX, Facebook, investor relations, media relations, social media, Twitter | Leave a comment

Communicating with Asia – is English really the “global language”?

Posted on August 3, 2011 by Anthony Fensom

“English is the global language” and other countries should learn our tongue, or so goes the argument. Why then should native English-speaking communicators in Australia and elsewhere bother learning about other languages or cultures when engaging in international communications?

The reality of course is somewhat different, particularly in the Asia-Pacific region to which Australia calls its home. According to UNESCO, the region is home to about half of the world’s spoken languages, including Mandarin Chinese, Cantonese, Hindi, Indonesian, Japanese and Korean, with more than 3,500 spoken languages employing a variety of writing systems.

In Australia, the reality of our multicultural society quickly becomes apparent simply by walking down any major city street. While English is the only language spoken at home for an estimated 80 per cent of the population, Chinese, Italian, Vietnamese and Greek are also widely spoken along with indigenous languages.

Public relations is loosely defined as the practice of engaging with publics, and this core principle does not disappear as soon as the plane leaves the airport tarmac for foreign shores. This article will attempt to examine some of the differences in practises between Australia and Asia, particularly Japan, and how Australian communicators might seek to close the cultural gap.

It’s all about trust

Australian PR and media professionals used to suffering from a poor public image may be surprised to learn that this is not always the case in Asia.

In Australia, according to 2010 Roy Morgan Research, nurses and doctors were the most highly trusted among Australian professions at some 89 and 79 per cent, respectively. Politicians were trusted by as few as 16 per cent, while newspaper journalists gained just 11 per cent, advertisers 8 per cent and car salesmen only 5 per cent.

While PR was not specifically addressed in the survey, it presumably would place around the same level of advertisers or journalists.

Yet in Asia, the situation is very different for media/PR professionals, at least according to surveys done in newspaper-dominant Japan.

According to a 2008 Yomiuri Shimbun/Gallup survey, Japanese polled on their trust in organisations actually placed newspapers above doctors and teachers. A majority 53 per cent rated newspapers as more trustworthy institutions than hospitals (48 per cent) and schools (37 per cent).

Similarly, the same survey found that 60 per cent considered newspaper information as the most credible, well above television at 17 per cent and online at 11 per cent. Importantly for advertisers, the survey rated newspaper ads as having 34 per cent credibility, versus 31 per cent for TV ads and only 7.5 per cent for online advertising.

While this survey was conducted on behalf of the nation’s largest newspaper, the Yomiuri Shimbun, it does indicate the difference in attitude towards the media and its institutions, with journalists and other media professionals seemingly held in much higher esteem in Japan.

Yet contrast this situation with India, with polls conducted in December 2010 showing the majority considered journalists were “covering up” to protect themselves and failing to fulfill the public interest.

China’s media also face particular restrictions due to government control, although growing commercialisation has reportedly led to increasingly open criticism in the press of the authorities. However, reports of PR companies handing out envelopes full of cash to reporters in return for media coverage highlights some different ethical considerations to those of the West.

Know your market

It may be a truism but engaging with Asia and Asian audiences does require a different mindset than handling Western audiences.

For example, given the previous data on Japan’s media trustworthiness, communicators would appear to best target newspapers ahead of TV and online, whereas in Australia the strategy might be completely reversed.

China has its own social networking systems, such as Renren, as does Japan, where Facebook is still relatively small compared to the domestic, mobile phone-based networks of Gree, Mobage Town and Mixi.

Yet Twitter has been embraced in Japan, with the country recently posting a new global record number of tweets for an event during the women’s FIFA World Cup final between Japan and the United States.

Similarly, planning your PR in an overseas market may require a slightly different approach from communicators than just sending out a media release to all and sundry.

In Japan, for example, the press club system dominates the major media with some 1,500 of such clubs attached to ministries, courts and major companies. Anyone wondering why Japan’s top newspapers tend to run the same stories on a particular day need look no further than the press clubs, which act to control certain information.

According to Japanese PR practitioners, the usual practice is to deliver the media release with two days’ notice to the relevant press club first, which will then distribute the release to the press club members accordingly. Such a system would seem to limit the “exclusives” beloved of Western media!

Similarly, there seems to be some confusion over the difference between advertising and PR, with online ads having the “PR” tag above them. Educating the audience on the role of public relations may therefore be another important task for the communicator.

Get into their heads

Similar to practises in Australia, communicators need to pitch from the target’s viewpoint and not their own. For example, why is your product or service particularly compelling for the targeted audience?

In a developed country like Japan, there may already be a number of competitors and the audience will need some convincing that the foreign product matches up to what is already available.

Another common mistake made in entering Asian markets is employing staff who relate to the Western hirer’s personality rather than the target market. Japan is famously “unique” with its own particular language and culture, however the same may be said for a number of other Asian countries including China, South Korea and Thailand.

Too often a Western company makes their selection of local assistance based on their English ability and ability to relate to their own Western culture. Yet while comfortable in a Western/Australian environment, such staff may be less suitable in dealing with their own target market and this ultimately is where the foreign company needs to be pitching.

Similarly, banging on the front door demanding entry rarely succeeds in Australia and it may not succeed either in an overseas market, unless of course your company is already well known and regarded.

There are numerous examples of Western companies who have succeeded in Asia – for example IBM and Nestle, and in Australia’s case, Meat & Livestock Australia and BHP Billiton – however, there are many others who found it all too hard and walked away.

California’s Sunkist Growers is one example of a Western company which took a gradual approach to entering the Japanese market, rather than demanding its entry through lobbying lawmakers at home. By building relationships with the Japanese industry and customers, demonstrating value and doing all the things good public relations practitioners embrace, the company was able to build up a large market share over time.

Meanwhile, its US competitors reportedly continued complaining to Congress about Japan’s “unfair” trade practices.

By finding the key influencers, using the connections provided by the Australian Government, particularly Austrade, and demonstrating value with the target audience, communicators can achieve a winning position in overseas markets.

In Japanese, the expression “nanakorobi yaoki” (fall seven times, stand up eight times) would seem to indicate the required attitude, although in Australia we might just say “keep trying”. Viva la difference!

Posted in Investor Relations, Media Relations, Social Media, Stakeholder and Community Engagement | Tagged Asia, Australia, China, communication, India, Japan, media, PR, Public Relations, social media | Leave a comment

Annual Report design – be bold or toe the line?

Posted on June 6, 2011 by John Bayly

Great annual report design has been a personal passion for over 20 years.  As a ‘frustrated designer’ (my natural creative talents lie more with the written word), I’ve pored over all those fantastic report books which showcase the very best of Annual Report design from around the globe.  Occasionally the odd report from Australia is included, but to my knowledge I’ve never seen one included for a Queensland based company.

I suspect that as we have far fewer ASX listed companies based here in Brisbane, than in Sydney or Melbourne, that there’s less inclination to stand out from the crowd through truly innovative and cutting-edge design.  I also think that there’s maybe still an inherent conservatism in our local market (from the client perspective that is) that again inhibits Queensland designers from stepping too far out on the ledge.

So do you be bold, but possibly bereft? Or do you simply toe the line, to keep the client?

To be honest, I think the commercial reality may, like many difficult decisions in life, be bit of a compromise.  In other words, each year try and progressively push the design radar a little further out, in an effort to extend your clients’ design horizons, and the degree of innovation they will ultimately demand of you.  Challenge them to set the bar a little higher every year, with the ultimate reward of them sharing in the creative journey.

An example were two reports we designed some years ago for the Bank of Queensland.  Traditionally, their reports featured smiling customers (yeh, a pretty stock standard ‘happy snap’) on the front cover and a relatively conservative approach to internal page design and layout.

In our first year designing and producing the report, we did push the limit by presenting a design concept featuring a front cover shot of a field of sunflowers, that was directly relevant to the theme we developed.  The next year, it was a still life of numerous green apples, surrounding a single red one under the theme line ‘We are different!’  And you know what, even though both represented radical departures from the prior year’s conventional approach, BOQ’s comms staff whole heartedly embraced and championed the concept of creating a bank report that was legitimately different.

If you are after a bit of creative inspiration, check out the following link, which to my mind contains some truly great report design.

http://dzineblog.com/2011/02/105-best-annual-report-design-inspiration.html

Posted in Investor Relations, Print, Motion and Web Design | Tagged Annual Reports, Corporate communication, Graphic Design | 1 Comment ← Older posts