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IR Writing 101
8In the spirit of an earlier discussion we had on the importance of content, I thought it would be worthwhile to take a step back and revisit the basic tenets of writing. And what better way to kick off this exercise than to take a peek at this internal memo written by David Oglivy in the 1980s. Among my favorite bits of advice he offers include:
- "Write the way you talk. Naturally."
- "Use short words, short sentences and short paragraphs."
- "Never use jargon words like reconceptualize, demassification, attitudinally, judgmentally. They are hallmarks of a pretentious ass."
After reading the list several times, I couldn't help but feel that writing is becoming a lost art - in IR specifically and communications in general. As to the former, I'm sure there are plenty of reasons for this... certainly, the undeniable shift in IR towards "IR as a compliance function" has had a lot to do with it. And the fact that so many are coming into the IR ranks that do not have communications backgrounds is also playing a factor. It's sad, though, as our common goal should be to educate, not just supplying grist for the mill.
Am I romanticizing the past? Maybe... but I don't think so. Do you see it differently? What would you add to this list? Anything on the list you'd like to "reconceptualize"?
The Conversation
Trevor Loe on May 14, 2012
Rob Berick on May 14, 2012
Interesting point, Trevor. Could you provide an example of writing “for search” - I think I know what you mean but I want to be sure.
Trevor Loe on May 14, 2012
Writing for search has changed over the years. Years ago it used to be about how many times you put certain words in a document and people tried to put those words everywhere. Now it is about the content and how robust it is, links, multimedia, etc that help you in writing for search. Here is a blog post with some great feedback on this topic: http://prn.to/KFMYQy. This plays out in IR as we are seeing more customers do things like using multimedia and getting more social with their message. We encourage people to write naturally and not for machines, which can sometimes seem tough in the IR space, but lots of companies are doing it.
Rob Berick on May 14, 2012
Really helpful, Trevor. Thanks very much.
Jeff Fraga on May 15, 2012
This should go without saying, but I would add “Write in the first person.” Nothing puts distance between a company and the reader faster than continually referring to the company in the third person!
Rob Berick on May 16, 2012
Great addition, Jeff. It shouldn’t go without saying - glad you did.
Meghan on June 22, 2012
These comments are very helpful/interesting. I have just become involved with IR at my company as an intern. Do any of you have any suggestions concerning writing from an efficient IR point of view in a letter to shareholders (within annual report)? Tips/Suggestions?
Rob Berick on June 22, 2012
Congrats on the internship, Meghan! A couple of tips immediately come to mind:
1. The numbers cannot speak for themselves. Therefore, try as you can to put your company’s results (good, bad or neutral) in as much context as you can.
2. Don’t overlook the intangible assets such as the company’s strategy, market position, R&D, etc. The intangible assets can make up to 50% of your company’s valuation so providing proper insight for them should not be overlooked.
3. Quantify / specify as much as you can. It can be hard to avoid such commonly used phrases like “well-positioned for growth.” To ensure you don’t end up sounding like every other company, be sure to say “how” you are well-positioned for growth and “why” you are well-positioned for growth. Differentiating yourself from your peers is key.
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About rob
Position:Senior Managing Director
Rob oversees Dix & Eaton’s investor relations practice and is a member of the firm’s Leadership Committee. Over his nearly 20-year career, he has developed and executed investor relations programs for companies in a wide range of industries and market cap sizes.
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Great points Rob. Content is king, but it also has to be easy to follow and understand. I also remind people that they must write for search…because if people can’t find your message it will be hard to read it. The old theory of if a tree falls in the woods will anyone hear it.