In October 2008, when the Financial Crisis was in full tilt, Lundquist Srl, a corporate communications consultancy based in Milan, surveyed 51 of the worlds most important banks to discover what information, if any, they were putting on their respective websites.

The research highlighted a growing gap between the demand and supply of corporate information. While users are increasingly turning to online resources for answers, on the whole banks are ignoring this important medium as a means of sharing key information.

Learning from the survey, Lundquist suggest that to effectively communicate online the following principles should be kept in mind:

• Honesty – demonstrate awareness of the situation as the first step to regaining confidence
• Clarity of language – make the information easily understandable, include things  such as an investor Q&A or a well written management statement
• Completeness – provide background by explaining the context
• Link to other resources – such as reliable third party information
• Authoritativeness – the presence and opinions of company management should be felt
• Easy to find – make the information users want to find highly evident
• Coherence – online message must be integrated with traditional media channels
• Interactivity – make use of technologies such as: video, Q&A and dedicated contacts

A summary of the survey’s findings was presented earlier this year to the annual meeting of the world federation of stock exchanges Zurich. For more information, download a copy of this presentation >

Melitta