An Appetite for Apps

Apps have taken the technology market by storm. From humble beginnings in 2008, they can now be seen on all smart phone and tablet devices. Initially a consumer product for gaming, looking up the weather in New York or finding street directions, their popularity has spread to the corporate world, as a growing number of FTSE 100 companies are developing apps as a way of engaging with investors.

We think this move makes a lot of sense, if it is well thought-out.

By including apps in your digital IR comms toolbox, you add another channel of immediate communication with your shareholders, employees, the investment media and financial analysts - providing up to the minute company news, share price information, and trading forecasts, as well as giving them a mobile platform where they can find key corporate information on the go.

With annual reports to download, video content arguing a new investment case and push-emails announcing new product information - all at the fingertips of the investment community, companies across a range of sectors have generated interest and enthusiasm for their investor apps. Aside from producing goodwill, moving to digital can also cut publishing costs and help CSR initiatives - producing tangible ROI.

The main challenge for creating an app is the same as with all communications - the message needs to take priority over the tool. By strategically thinking about what you want to say and who you want to say it to, you avoid disseminating arbitrary company news for the sake of showing off your new gizmo. Equally important is that an app's development must be seen as ongoing; an audience will only carry on using it if it is continually updated. Finding this balance of creating regular and high quality content is one that needs careful consideration.

While I doubt the next 'Angry Birds' (in popularity terms) will come from a FTSE 100 corporate, the technology is here to stay. Not only knowing its value, but how to use it to greatest effect, is something that companies should take time to understand before jumping on the app train.

Naomi Lane, August 2011