Shareholder communication starts with team communication
Over the last year, our ‘Shareholder Relations’ team has conducted regular meetings which I have been invited to and attended. Well, all but one. Mrs.Crawford was adamant I had a day off for our anniversary which I could not refuse, she is after all the Boss. The Shareholder Relations team were having ongoing objective-based conferences, based on looking for enhancing communication values and policies to existing shareholders and prospective shareholders.
To garner inspiration in these conferences, Austin and I invited some of the shareholders committed to Alliance, whom we initially sourced through our respective networks, be they personal friends or business acquaintances. Antony, who leads our Shareholder Relations team, led these conferences with a focus on understanding how these shareholders typically invest and, then, how they interact with a like-minded community, to what level, for what benefit. Based on relevant consumer appetites, Antony and his team have devised best of breed practices to ensure sustained shareholder satisfaction.
The key definitions focused on frequency, format and mediums of communication. It became clear that not all shareholders would want the same frequency or depth of communication. Whilst many of us are very data-centric to a granular level others are satisfied with headlines that can be easily digested in a rapid fashion on a periodic basis. The essential structuring was to define a balance that suited all members of the Alliance community. The conclusion has already been very well received indeed.
However, the challenge faced in this process was really where the learning curve became hugely valuable for not only external communication but how a team internally communicated, to find the best solutions for the business. Faced with this crucial client care objective, the team was tasked with a goal to discover the best communication process, within their team before they expanded the solutions to the most important assets within the business, the shareholders.
Initially, they weren’t giving themselves enough credit for the depth of their insight into their shareholder relations and the outstanding levels of service already being provided. They understood their situation, knew their needs, knew what was required, and could predict the trends that came from shareholder requirements. They knew their clients well and were communicating as a team at a very high level.
If you start from a place of understanding of your client’s needs, from a place of experience and listening, you then have to communicate as a team to form a strong solution that benefits the collective and not just a few. The result will be one that is hard to beat. In brief, this includes the availability 7 days per week, 52 weeks per year, concise short tail portfolio reports on a monthly basis, detailed analysis on performance – also every month, audited accounts for the business, asset profiles for acquisition targets, development updates, live webcam footage featuring development work and many more communication channels.
I challenge my team to remain unbeaten in care and communication as if they are not beaten, Alliance will set standards and not follow them.
Like my team, communication remains at the forefront of my focus day in and day out.