Who hasn’t had an email with a funny video attached which they then forwarded? Do you have any home video of holidays or children growing up? What makes them different from writing a book about your experiences? We would suggest they each have their value but they each make sense at different times.
There is a growing body of evidence which suggests most of us are becoming daily consumers of multiple media, from newspapers and TV, to printed reports and websites. What is also apparent is that online is a growing share of that media time. Users access online data through a multitude of electronic devices and thus companies are easily exposed and compared, whether from the companies own website, financial information companies like Reuters, or the social media sphere.
Looking more closely at this growing segment, video is becoming a more popular tool for corporate communications so it’s worth some thought. As Don Tapscott said, “every company is becoming naked, and if you’re going to be naked, you’d better be buff.”
IR is the process of promoting a company’s investment opportunity, and as with all sales you need to capture the imagination of the audience. Short videos have been used for decades to grab attention and advertisers will pay dearly for prime TV schedule slots. It was never practical or cost justified for niche offers to be presented in broadcast media. But the web has changed that, ‘narrowcasting’ as it has become known is where rich media can be produced and watched by those interested parties who seek them out, or indeed those who have been directed there by an IR Department. Video, like all media is no panacea, but it has its place.
You’re unlikely to buy a car simply from watching a TV commercial, but you might be prepared to investigate further. Promoting your investment offer is the same, in just a few seconds you have the ability to capture the attention of investors, submerge them in a rich multi-sensory experience and communicate complex concepts rapidly. So what are the pros and cons?
Video is powerful, but no panacea. As with any well structured communication it allows users who are only potentially interested in an offer to rapidly dip in and get a comprehensive feel for where the value is. It is by its nature, a finely controlled linear presentation, and is easily accessible in our connected world. All of this is now financially accessible given that new technology makes it low cost to produce and deliver.
As the front end introduction, TV commercials have been the staple brand builders for many FMCG companies, now this type of technology is accessible to everyone.
Jones and Palmer have been building a broad range of skills in new media technology and have some great examples of how management teams can get complex and sensitive messages across effectively, talk to us for an idea of cost and timescale in moving your communications forward.