Public relations and investor relations departments tend to work separately from each other within corporations. With the help of today’s collaboration tools, they can share each other’s resources in order to benefit everyone.
After all, investor relations is a function of public relations, while public relations works for investor relations. This is the case because both departments strive to achieve the same goals for a company.
Investor relations professionals need EBITDA and GAAP figures, while public relations are focused on a brand and the solutions it provides.
Both target audiences for those departments share some common elements, which means both departments must figure out what those common elements are, and share them with each other.
Investor relations professionals can learn more about brand strategy and join round tables, while PR professionals can join analyst webinars and earnings calls to learn more and communicate better.
Companies can save time and money when they share some simple yet essential documents like key facts, glossaries, or vocabulary sheets.
That means investor relations and public relations departments should work together to collaborate on those types of documents, and share them with each other.
Media Relations and Coverage
Generally, public relations professionals focus on social media platforms and trade papers when it comes to promoting a brand. On the other hand, investor relations tend to focus on outlets like the Wall Street Journal or the Financial Times.
The readers of all of those different outlets don’t differentiate which department the coverage is coming from, which means the company shouldn’t either.
That means the public relations and investor relations departments should be sharing their contact lists of friendly journalists, and keeping those lists up-to-date.
Instead of having to sell two different stories to different journalists, companies can focus on selling a single story from two different angles with this strategy.
Companies shouldn’t promote their coverage solely from a PR perspective, and instead, it’s best to establish some cross-promotion strategies when it comes to social sharing, which can be conducted across both departments.
Then, companies can make the investor relations media list aware of the public relations news stories, and vice versa.
Many companies tend to rely on their internal experts, and yet those experts have a limited audience. To make the most of the content they create, companies have to share that content with other people and the general public.
The best way to go about that is by creating a list of in-house experts or influencers that both public relations and investor relations professionals can reach out to at any time.
Both departments should also maintain shared lists of the top quotes by those experts, and of any findings, they’ve produced.
Then, both IR and the PR departments can present those experts as thought leaders by sharing their expertise with journalists from each sector.