Social media apps like Snapchat, Facebook and LinkedIn keep us connected to friends, family and colleagues far more now than ever before. But what about connecting with financial stakeholders?
I was recently asked to share my thoughts with IR Magazine on the use of these apps in the IR space. While the adoption of apps, such as WeChat, has become more common in Asia the concept has not quite caught on in the U.S.
Here are a few reasons why, as well as things to consider when researching a social media app for your IR team:
- The culture of your team: The use of apps is very intuitive to millennials, but that may not be the case for other generations. Consider who will be using the app and how to most effectively engage your team.
- Security of the platform: While these types of apps promise a secure platform, there is still risk, and in the world of IR, mitigation of risk will be critical to successful adoption. Experts suggest sharing only information that is already publicly available.
- Choosing the right platform: In the U.S., there is a plethora of apps to choose from – some may even say too many. So if you are going to use an app to communicate with your IR team and investors, choose one where you have a captive and engaged audience.
Although this trend has not picked up in the U.S., there’s little doubt that we will see more adoption of messaging apps by IR teams in the future. For more on this topic, read what I and others had to say in the Fall 2016 issue of IR Magazine: Messaging apps to buzz the buy side.