Monday, 25 June 2012

Notes from a NIRI Annual Conference Attendee

Last week, I attended the NIRI Annual Conference. It was very educational and an incredible opportunity to meet and exchange ideas with many of the approximately 1,300 investor relations professionals from more than 20 countries that attended the event in Seattle.
NIRI organized more than 45 informative panel sessions and workshops that were led by some of IR’s top influencers. While I wanted to attend each one, unfortunately I am not omnipresent. For those that I did attend, I left with several key takeaways that can benefit any IR program and wanted to share those with you here at The Podium.
  • Changes in the capital markets have presented IR professionals with new challenges. Today, high frequency trading accounts for up to 70% of all volume in stocks. This type of trading can be triggered simply by the number of impressions a news story generates, regardless of the content (i.e. the relocation of company headquarters). In addition, many stocks are often experiencing high trading volumes on a day where there is no news at all. While this often sets off concerns from the C-suite, there is little that can be done. IR professionals should remain focused on targeting shareholders who are interested in the qualitative aspects of the story.
  • CFOs are focusing more of their time on investor relations. On a panel consisting of Fortune 500 CFOs from the Seattle area, all indicated that they spend approximately 10-15% of their time on IR activities (at a recent Boston chapter event, small- and micro-cap CFOs trended more toward 20-25%). The panelists stressed the importance of the IR role in helping CFOs to keep their finger on the pulse of what is going on in the markets and the concerns of investors. IR professionals that provide regular insightful market intelligence are truly valued by the C-suite.
  • Investor relations and corporate governance are converging more than ever. There have been 49 failed votes on say-on-pay so far this year. As such, it has become increasingly more important for companies to understand how their shareholders vote and how the proxy advisors reach their recommendations. Companies are reaching out directly to shareholders to discuss any concerns with the proxy. IR teams should compile data about their top shareholders, including compliance contacts, custodian information, and which advisor recommendations are considered. In addition, the proxy advisors appreciate having an open dialogue with companies regarding their recommendations. For best results, implement a proxy communications program early. Compliance officers and proxy advisors will be slammed come proxy season, so reach out well in advance of issuing the proxy.
  • Companies are gradually determining how to incorporate social media into their IR program. Many attendees at the event were curious about social media and how to use it strategically. While most public companies today are in the nascent stages of using social media (including RSS feeds and share buttons on their website), others have established a presence on external platforms such as Twitter, YouTube, SlideShare, StockTwits and LinkedIn. All companies should conduct an audit to determine what level of social media engagement would be beneficial to the shareholder outreach program. A clear social media policy should be implemented, as well as an ongoing monitoring program.
  • Your investor presentation needs work. Many of the investor presentations being delivered are not focused and leave investors confused. Take a look at your presentation and ask yourself, does it tell a compelling story? Each slide should have one key takeaway, which should be expressed in the headline and supported by the content on the slide. The design and layout should be simple and guide the audience to the point. We all know that the delivery is vital to the success of the presentation, but remember, the investor presentation is the most downloaded document on the IR website, so it should be effective without any supporting audio.
  • Board members want to be included in the IR process. There was some debate about whether it was appropriate for investors to have direct access to board members. Regardless of whether this is permitted, it is beneficial to provide Reg FD training to the board, particularly for those that do have external exposure. Keep board members abreast of market concerns, as well as the company’s official response to common questions.
Nothing compares to attending the conference in person, so I recommend you mark your calendar for next year in Florida if possible. You will be sure to bring back a wealth of valuable tips to improve your IR program.
Dennis Walsh is Senior Consultant & Director of Social Media at Sharon Merrill. He counsels clients on a broad array of investor relations and corporate communications issues such as market research, competitive intelligence, earnings announcements, investor targeting, roadshow planning and social media.

Wednesday, 20 June 2012

Using Social Media to Make People Feel Special

A social media lesson from hibachi: The other evening, my husband and I tried a new Japanese restaurant that’s opened in our ‘hood. It bills itself as “hibachi steakhouse and sushi.”
For anyone not familiar with “hibachi” restaurants, this is basically where several guests sit around an open cooktop, and their food is cooked in front of them (though those of you who are familiar with the concept may not have known that the type of cooktop we see in hibachi restaurants is really a teppenyaki grill… but I digress).
cooking on a teppenyaki grill
It was a lot of fun.
The food cooked quickly, and the chef put on quite a show. I ordered steak, which was good, and my husband ordered steak and lobster tails, which were also good.
Note that I said the food was good. In fact, it was very good.
I even ate some of the noodles and fried rice that were heaped on my plate, because they were cooked in front of me, for me (typically I don’t eat foods that are high in starch, since I underwent a lifestyle makeover, primal style, a while back).
But if I weren’t sitting at that table, watching my food being cooked in front of me – for me – would I have raved about the food?
It’s not about the food
Probably not… and even now, as you notice, I’m not really raving about the food.
It was that I felt special, because of the way the food was cooked, and served, to me. Because, as my husband said, “You can get steak and lobster tails anywhere. You can’t see it cooked in front of you anywhere.”
This is what we’re up against all the time. The knack of making how people experience what we do… special.
Frankly, I don’t think it matters what we do. Because whatever it is we do, we have to do it in a way that makes others feel special.
Specialness and social media
As PR pros, we have to find ways to make our clients feel special, the communities we build feel special, the media, bloggers & influencers we reach out to feel special, and so on.
Business owners have to find ways to make their customers feel special, their partners and vendors feel special, their employees feel special, and so on.
Politicians and governments have to find ways to make their constituents feel special, and ideally, they should be doing this all the time, not just when it’s time for them to get elected, or re-elected.
And so on, and so forth, etcetera, etcetera, etcetera.
And social media gives us the perfect platform to do this… because of the myriad ways it lets us communicate with each other.
How does one do this?
Well, as an individual (and whatever else we are, we’re all that), I can:
- try to learn more about the people I come into contact with via social media
- make it a habit of replying to each @ reply I get on Twitter (unless they’re from spammers or trolls, in which case I don’t), when I’m tagged on Facebook, in Google Plus, etc.
- replying to blog comments, participating in the blogosphere by commenting on other blogs, and sharing blog posts that I like
and so on, and so forth, etcetera, etcetera, etcetera.
(For the most part, I think you’ll agree that I do all this; my blog commenting has been down recently, but I’m trying to get it back up.)
And as businesses, you can… do pretty much the same.
The problems
that businesses usually run into are:
a. They forget they’re run by people, so they try to behave online the way they think “corporate” entities should, which is usually to be excruciatingly boring, so that no one wants to engage with them (or worse, they’ll behave like spammers);
b. They get so worried about the time they think will get sucked up in “chatting,” they forget that “chatting” is how people form and build relationships, which is what leads to business-building;
c. They are terrified by all the tools out there, and get so lost in trying to figure out which tool to use, that they take forever to get started… and by the time they do, they are so far behind their peers, it makes them even more terrified. And so on, and so forth, etcetera, etcetera, etcetera.
So we end up with a handful of businesses that do social well, and “the rest,” who by now know they have to be on social, but still don’t know how to be social.
I have 70 words for them.
It’s not that difficult. Really. You just have to remember that social media is just another way for people to connect. So use it to do just that. Connect, as the human being(s) that you are.
Because by doing so, you will start to make those you come into contact with feel special.
And that’s the most important thing you can do as a business. Make your customers feel special.
That’s what I think. What about you? And yes, I really want to know, because to me, each and everyone of you is special. Unless you’re a spammer or troll… ha!

Monday, 4 June 2012

Don't make these 12 dangerous résumé mistakes

You know that agonizing objective statement you just spent hours trying to perfect? Drop it.

People struggle to get their résumé perfectly tuned before sending it into the universe, all in search of a job—any job.

But you know what? One of the greatest failings of the American education system is that it doesn't train any of us (even new graduates) to effectively write our credentials in a way that is easily digestible by employers. Ask any human resource manager; they will tell you that somewhere between 70 and 80 percent (and that's being kind) of all résumés they see are absolutely terrible.

Here are 12 big mistakes that you absolutely must avoid to at least have a chance to make it into the "interview" pile—and away from the circular file.

1. Goofy or inappropriate email address

It's time to grow up. You don't have to ditch your princess92 social email handle, but please don't use your dieseltrucklvr@aol.com account on your résumé. Names like that can tip off an employer that you aren't taking your job search seriously, and quite possibly land your application in the "I never received it" round-file.

2. Including an objective statement

The 1970s are calling, and they want your résumé back. I wish we could put up a giant, flashing neon sign on every freeway that tells people to ditch this awful, old-school résumé element. Employers don't care what you want; they care what you are going to do for them.

3. Not "theming" your document with keywords

Now that we have moved into the 21st century, please take notice of how technology can be used to scan your résumé to see if there are enough keywords to warrant a "to be looked at closer" tag. It's all about critical mass of the right keywords; by theming your document, you'll get on the right track.

4. Forgetting skill sets

Knock, knock. Who's there? Keywords. Keywords who? Keywords are key to getting your résumé noticed. OK, that's a lousy joke, but it's not any worse than a résumé without keyword skill sets included. (The website onetonline.org offers the motherlode of keywords. Pass it on.)

5. Placing awards and top achievements at the end of the document

Arguably, most people don't know what to do with industry or company awards. They usually stick them under a specific employer or dump the mention at the end of the document. Please, insert a "Notable Achievements" section right after the top third of the résumé where you've included your keywords. Remember, the cream rises to the top.

6. Lumping multiple jobs at one employer into one position

This is a deal-breaker. Some people have had a wonderful career at one employer, holding multiple positions as they worked their way to the top. However, this does not entitle them to lump the entirety of their time at that employer under that one position. It's a big no-no.

7. Stretching your employment dates

If you started on 11/2007 and left in 2/2008, that does not mean you can put "2007 - 2008" on your résumé. That's called lying. Save yourself some grief. Just give the employer the Month/Year - Month/Year. They are going to ask—and verify—anyway.

8. Upgrading your job title

Ask any human resource person, and he or she will tell you a story about someone who decided to "upgrade" his or her job title to more "accurately" reflect their work. True, some companies are stingy in the job title department. Still, the title listed on the résumé should match what is on file in the personnel office—or you're creating a terrible first impression.

9. Including employer address, phone, supervisor name, and email

How eager are you to "prove" that you're legit? Employers have this thing called the Internet to research your previous companies. Don't look insecure by listing everything, which actually calls the wrong kind of attention to your employment record, and warrants a cynical second look.

10. Listing your job duties

Here's a little secret: It isn't about listing what your job duties were, it's about what explaining what you did. Employers will read that laundry list and then say, "So what?"—that's the nugget they are really after. A great résumé tells a story that catches the employer's attention while showing value.

11. Getting employers to "assume" things about education

Oh, dear, how many times have I seen the following: EDUCATION: ABC College—Bachelor of Science. "What did you get your degree in?" I ask. Job-seeker (long pause, cough): "Um, I didn't graduate … I took coursework." Me: "You realize it looks like you're trying to get the employer to assume that you did complete your degree?" Job-seeker: "Um, nooooo." Either you got the degree, are in the process, or took program coursework. Say that. Please.

12. Not keeping up to date

If the last class you took to boost your on-the-job knowledge was in 1999, then you need to get cracking. Employers are hiring subject matter experts, and your job—until you retire (I know, tall order)—is to constantly think about the professional development classes, workshops, conferences, etc., that will enhance your job knowledge. Because there is no such thing as job security anymore, consider this your insurance policy to being employable.

These common mistakes are made by everyone at all levels, in all walks of life, at all economic levels. This is why we need to implement a standardized career training curriculum to ensure those entering the workforce are equipped with the knowledge to properly build career documents.

Now that you know the mistakes to avoid, you do have a fighting chance.