Over the course of the year, there are any number of opportunities for companies to market themselves to customers and investors. Cannings Purple’s Investor Insight team explain.
Over the course of the year, there are any number of opportunities for companies to market themselves to customers and investors. These include conferences, roadshows, paid editorial and research and online and traditional advertising.
When faced with a range of opportunities, it is important for Boards to consider which medium gives them the best bang for their buck, given they are spending shareholders’ money.
It is not difficult for a company to spend upwards of $25,000 on a week long roadshow or $30,000 to present and exhibit at an investor conference.
Is this money well spent if you don’t have a relationship with the roadshow participants or you end up presenting to a room of your peers at what is essentially a trade show?
Could this money be better spent on developing a broker relationship, advertising via a blast to a purchased email list or integrating video into a revamped website?
Boards that understand the benefits of marketing and how to harness them typically set out a framework for the year based on what they want to achieve and how they are going to go about it.
Deciding early on when and how you are going to market the company makes it a lot simpler to manage over the course of the year.
There is no need to attend every single conference and no point in returning to potential investors with no news since the last time. Work smarter to target investors and customers through research of the options and reviewing their effectiveness after the event.
Developing a marketing and investor relations program based around operational achievements and timeframes will set a purpose for the year. It also allows the Board to more accurately budget for these activities and understand that they are an important part of the functioning of the company.
As they say, ‘you need to spend money to make money’. Whether it is spent wisely will likely dictate how much you will make in the long run.