11 IR ideas for 2011

In the spirit of the new year, here are 11 ways to make your IR program more effective in 2011.

1. Develop the “best” IR program for your company in 2011.  The best IR program for your company will achieve consistent fair value for all of its publicly traded securities. Someone else’s plan won’t make that happen, no matter how well it works for them. Only you, working with your co-workers, outside counsel and exploring new ideas, can create your “best” plan that is tailored for your company and its specific situation.
2. Build trust with those around you.  IR can be a pretty lonely and isolated post, neither a fully integrated financial position, nor a fully integrated communications position.  You need close, trusting relationships with people in both areas to be successful. Now is the best time to strengthen those ties. 
3. Collect and share meaningful anecdotes.  Accomplishments described strictly in quantitative terms are great. But even better are stories that suggest how the company’s superior culture or talented, creative employees made it happen. Stories like these tell investors that your good performance is sustainable.
4. Forge relationships with employees far from headquarters. It’s easy to convince yourself you’re well informed when you’re getting many of the reports and figures that the C-suite sees. But that doesn’t really mean you know what’s coming next, good and bad. Employees far from HQ love it when someone near the top shows a sincere and continuing interest in what they do.
5.  Balance your brain. Whether you are an analytical left-brainer or a free-thinking right-brainer, spend more time observing co-workers who are your opposites. Offer to team up with them on a project and divvy up the tasks in a way that emphasizes each person’s strengths.
6. Start measuring something new. Your organization is likely obsessed with measuring performance against sets of standard, agreed-upon metrics. But you probably have ideas about other things that could be tracked, but aren’t. Assign yourself to start tracking one or two, with no preconceived idea of what the results will be, or how you will use the data.
7. Ask a few contacts, “How can we improve?” The start of a new year is the perfect time to reassess, and those you work with most regularly in the investment community will appreciate a no-agenda call just to show you’re interested in how well you’re serving them. Keep it light and informal – no survey questions – and be prepared to respond if they ask the same thing of you.
8. Learn something new. Maybe there’s a new tool in the corporate accounting system that would make it easier for you to do peer analysis. Or international investors who might appreciate receiving your e-mails in their own language. Perhaps your roadshows would be more effective if you knew how to use targeting software. Set a goal to master one new skill this year. 
9. Hold yourself to Warren’s standard. Berkshire Hathaway doesn’t have an IR department. It has Warren Buffett. Berkshire doesn’t have a Disclosure Policy. Warren has this: “As managers, Charlie and I want to give to our owners the financial information and commentary we would wish to receive if our positions were reversed.”
10. Take care of yourself.  For all calendar-year companies, January through April is a bleak march through financial reporting, annual reports and shareholder meetings that typically overwhelms the best-intentioned New Year’s resolutions. Make 2011 different, with regular sleep and exercise habits that won’t let you become a midwinter zombie.
11. Don’t shy away from retaining outside help, including CTC.  Expert advisers with extensive experience and additional resources can make your efforts more effective and efficient, paying off for your company and its shareholders.   

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