Patricia Baronowski-Schneider
Pristine Advisers
New York, NY
Patricia is CEO of Pristine Advisers, an IR/PR/Media Relations/Marketing firm with 33 years of experience working her way to starting her own Company a decade ago. She can be reached at pbaronowski@pristineadvisers.com
Two of the most important departments in a large corporation are Investor Relations (IR) and Public Relations (PR). In the past, these two functions have worked independently of each other and often report to different officers. But now, firms believe that there is an underlying relationship between the two departments, and it would be better if they are brought together. To find out more about this issue, read this blog till the end.
What is the Purpose of Investor Relations?
The purpose of the IR department is to provide a way for information to flow between a company’s management and its investors. This way, investors will be able to make more informed investment decisions. The goal of the department is to reach the best share price and portray the values and a positive image of the company. Read more about Investor Relations here.
What is the Purpose of Public Relations?
This department aims to influence the perceptions among the general public about the company. It spreads information in a certain way that ensures a positive portrayal of the firm in the minds of the people.
Bringing IR and PR Together
One department focuses on reaching investors and financial analysts, and the other on reaching customers and the general public. So, why do firms need to bring them together?
During Economic Challenges
Public Relations needs to constantly adapt according to different situations, but Investor Relations usually works with long-term goals in mind. When the firm is facing economic difficulties, it is best that the two departments work together. The PR department must guide IR about how information must be released in these critical times.
Studying Trends
The PR team can study the latest market trends beforehand and supply this information to the IR team. It can be helpful when investors ask the IR team how they plan to cope with the current situation in the market. Collaboration allows your organization to present a complete and interlocking approach.
Common Timelines
Both departments usually have independent timelines. If these timelines are interconnected with each other, then each team will know the important dates of the other and ensure that everything is streamlined.
How to Achieve a Connection?
There are a few simple steps that both the departments need to follow to ensure collaboration:
- IR and PR departments can invite one or two representatives from the other department at their internal meetings.
- Meetings should be planned regularly, and issues regarding communication with all stakeholders must be discussed in them.
- The two departments must be aligned with each other in terms of goals and processes before they meet the company executives.
Concluding Thoughts
Now that you know the importance of merging IR and PR together, it’s time to take action. Contact us for advice on anything related to Investor Relations (IR), Public Relations (PR), and Marketing. We are an award-winning firm and have been featured in the media as well, which speaks volumes about our expertise in the field.
Wishing you good health and success.