Living the Message: a PowerPoint by Virgil Scudder for the National Investor Relations Institute
As IROs, we work diligently to craft our company's messaging so that it accurately reflects the overarching business strategy and mission, as well as resonates with our key audiences. However, as macroeconomic or external situations arise, those messages are tested. The perception of a company heavily influences the way investors respond to it, and some companies are undervalued in the market simply because management doesn't tell the story well enough. By helping management to better articulate the company's "story," you can help drive value while mitigating the downward pressure from external forces. Virgil Scudder: Often referred to as "The Dean of Media Trainers," Virgil is considered one of the world's foremost communication experts. In a 30-year career that has covered 26 countries on five continents, he has provided coaching and counsel to heads of some of the world's largest corporations and government leaders. www.virgilscudder.com virgil@virgilscudder.com @scuddermedia https://www.facebook.com/ScudderandAssociates 305-867-1796
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Living the Message: a PowerPoint by Virgil Scudder for the National Investor Relations Institute
- 1. 1 Living the Message The Management Perspective Virgil Scudder NIRI Conference June 11, 2013
- 2. 2 A Basic Premise Credibility is a company’s most valuable asset. Too many companies lose it because they talk the talk but don’t walk the walk.
- 3. 3 Compounding the Damage • Then-CEO Tony Hayward didn’t get the message. • He went into tough Congressional hearings unprepared. • The result was disastrous.
- 4. 4 The Result • BP lost a third of its value. • Hayward lost his job. • BP is starting a long rebuilding process.
- 5. 5 The Key to Successful Communication Clear Concise Credible Confident
- 6. 6 What That Means • Straight talk • Headline-first responses • Easily understood language Communication is not what the speaker knows or says; it’s what the listener takes away.
- 7. 7
- 8. 8 Scudder’s Law Never lie, deceive, mislead nor allow shareholders or the public to be misled. It will catch up with you.
- 9. 9 Some Examples TARGET TOYOTA SHELL
- 10. 10 How Not to Build Confidence A bank CEO was asked about a possible merger.
- 11. 11 My Translation • Not now. • Time is not right. • Maybe later.
- 12. 12 An Embarrassment and More • The CEO was featured in a New York Times article including his picture. • The headline: “When CEOs are Tangled in their own Web of Words.”
- 13. 13 He Was Not Alone • Another CEO boasted that a recent acquisition could produce as much as $80-million in cost savings. • But, here’s what he said later when asked for more detail.
- 14. 14 Result The stock dropped 8% that day.
- 16. 16 Not Walking the Walk A Classic Example
- 17. 17 Walking the Walk Bill Marriott Jr
- 18. 18 Some Final Thoughts • Remember the 4 C’s: Clear, concise, credible communication, delivered with confidence. • They greatly impact a company’s reputation and valuation. • Don’t talk the talk unless you’re ready to walk the walk.