We’re Not Ready
24 August 2010
I recently came across an article about an analyst from UBS using satellite images to help in his research of a company. Here’s the article. For the world of equity research, this is pretty mind-blowing stuff.
This got me thinking about the general apprehension of IR professionals when it comes to adopting social media for IR (or for that matter, adopting any technology outside of their basic web presence).
A common phrase I hear when talking to IR professionals about the topic of social media for IR is “Oh, we really are not ready for something like that right now.” In many cases, this is a fair statement.
If you are not ready, that’s fine, no problem. But realize that it is very likely your analysts are ready, your institutional shareholders are ready, your retail shareholders are ready, and the financial media is ready.
There was once a time when companies were “not ready” for live conference calls, not ready for email, not ready for IR websites, not ready for faxing, and not ready for computers. Then one day, they were ready.
Maybe it’s time to become ready for social media within your IR department.