Quarterly and annual reports, macro-economic analyses or announcements about new investment products; financial communication is a rare skill. It cannot always be overly corporate or abstract. And it has to be understood by people outside the specialised sector. Wim Heirbaut, an ‘old hand’ when it comes to financial PR in our country, provides six tips for clear and transparent communication.
1. Communicate
His first recommendation? Just communicate. That is the only way to demonstrate transparency to stakeholders and establish and maintain credibility. Open communication pays dividends, particularly in tough times such as during the corona crisis. At the beginning of the crisis, the stock exchange watchdog FSMA was urged to provide rapid communication regarding the financial impact, even if it was impossible to offer precise figures. That is the only way to ensure investors can make the right decisions.
2. Mind the jargon
Abbreviations, acronyms or English terms: the financial world is bristling with jargon. Experienced journalists in the financial media will, of course, be familiar with these terms. The reality, however, is that we are not all qualified economists. So take this into account in your communication.
3. Give your story social relevance
Make sure you are telling more than just a legally accurate story. We know that international players often have to check their Belgian communication with their headquarters in London, Paris or Amsterdam. And that the lawyers there may be slightly less focussed on the stories behind the figures. But, as a good communicator, you have to find the happy medium. Even though we realise that little can change when it comes to sensitive communications or information about listed companies. Just be aware that investors and bankers, in 2020, are always interested in the social story behind your activities or decisions.
4. Keep your finger on the pulse
When an international asset manager wants to communicate his forecasts, he often wants to present the broader, international context. This is logical but can sometimes lead to generalisations. So, if possible, try to add the Belgian angle to your story. Or refer to an actual event.
5. Pitch the right media
Financial communication often focuses on a niche audience. For example, CFOs usually aim to reach out to C-levels from a specific sector. They choose quality over quantity when it comes to media uptake. That is why it is incredibly important to pitch your story to precisely the right media in order to reach the appropriate target audience.
6. Diversity is key
Financial communication doesn’t have to take the form of a press release. A strong journalistic video of an expert elaborating on the operating results can be just as useful. Or how about a powerful op-ed or factsheet which clearly depicts the figures in graphs?