I had brunch with my brother and his family yesterday to celebrate my oldest nephew’s 17th birthday. Amid all the surreal conversation about what colleges he’s considering and my utter confusion at how he can possibly walk, let alone be comfortable, with his jeans that are in a constant struggle with gravity, I had an epiphany - I am definitely old school at heart.
I still have a record player and a sizable collection of music on vinyl. I still have - and use - a VCR. I actually think most NFL “throwback” jerseys are better than the current game day uniforms (I said most, not all. Sorry NIRI Rocky Mountain Chapter). I am convinced that droopy jeans will prove to be the leading cause of hip displacement for my nephew’s generation. And I still believe media relations is a key component of a forward-thinking investors relations program.
I know - nutty, eh?
Listen, if you’ve ever read this blog before, you know how strongly I believe that investor relations needs to be embrace the power and potential of new technology. And I firmly believe that. That said, I am growing increasingly concerned that more and more IROs are overlooking media relations when building their IR programs. Research continues to show that the media - both financial media and trade media - are a highly influential source for investment ideas for buy- and sell-side investors. And, not only is it influential, it’s an effective and efficient channel too - particularly for smaller companies who can use the market cap-ambivalent trade media to further demonstrate their new product pipeline and thought leadership, among other things (read: the key intangible assets investors look for when conducting due diligence).
Before I go all Oliver Stone with my conspiracy theories, do you agree that media relations is becoming a dusty tool in the IR tool box?