Where do we find the time?

08 October 2009

Last week I had the privilege of presenting to a group of IR professionals at a CIRI Ontario event in Toronto. The topic of discussion was social media and investor relations.

Some great thoughts, perspectives, and questions were raised by intelligent minds such as Annemarie Brissenden, IRO at North American Palladium, Alvin Poon, Manager of Investor Relations at TD Bank Financial Group, and others.

A question that was asked was “How much time, as an IR professional, should I spend on social media?” and more importantly, “Where do I find the time to participate in social media?”

Many so-called social media experts have a variety of responses to these questions. In my opinion, the amount of time you should spend on social media is a very personal decision. If you are trying to figure out what is best for you, here is one way of thinking it through:

Think about how much time during the day you spend reading the newspaper, watching TV for news purposes, watching TV for entertainment purposes, reading magazines, reading industry journals, reading analyst reports, listening to the radio, reading email, reading speech transcripts, developing and delivering presentations, and attending conferences or presentations. You make a conscious and personal decision about how much time and effort YOU put into the activities listed above. In the same way, you need to make a personal decision on how much time you spend participating in social media activities. For some IR professionals it’s 4 to 5 hours a day. For others, it’s 15 minutes every second day.

Social media will continue to play an ever-growing role in the world of IR. It’s time to make a decision on how much time you and your IR program should be spending on social media.

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