Written by Edgar Agents on June 13, 2018
How to benchmark your IR & SEC compliance budget
Only 3% of journalists rely heavily on press releases, according to a new survey of journalists from PR workflow provider Muck Rack.
Furthermore, 53% of US journalists don’t use press releases to find new story ideas. Ouch.
This is exactly why we coach our clients, especially small-cap and micro-cap companies, that their news releases are essential for Reg FD… but for “exposure,” there are better paths to invest in (conferences, targeting, etc.). In fact, much of what we deliver to our clients is our industry expertise on how to reign in excessive compliance and communications fees.
This 3% statistic is a harsh reminder that, for many public companies, press releases are simply regulatory insurance.
True, press releases do provide an important structure to your investor communications, however, that structure is more about the formatting, vocabulary and transparency WITHIN the press release, NOT the actual distribution. Remember, at the end of the day, all you need to do for Reg FD compliance is issue an 8-K and post your news on your website. Best practices for shareholder communications, suggest you push out your news via email and social channels.
It would be a mis-step to stop sending out press release across a newswire. But you MUST re-evaluate your spend in context to this 3% finding. Benchmarking their overall Reg FD expenses, not just with XBRL and EDGARizing, is another way we help our clients.
Here’s your action item: click here or the green button now.
Edgar Agents has formed an alliance with one of the top three newswires* in the world. This agreement allows us to offer clients full financial disclosure – across all the major news portals (WSJ, Yahoo!, etc.), yet at a “friends and family” unlimited word-count rate.
Exactly like EDGAR filing services, we know that one size does not fit all. That’s why these four easy questions will allow us to BENCHMARK your current TACTICAL newswire disclosure requirements. Who knows. This benchmark may uncover a dramatic savings for you, or you may already work with our newswire alliance,* and that your budget is right on track.
*The newswire competitive space is very competitive. We cannot disclose our alliance until we speak with you. Otherwise, the other newswires will bombard you with phone calls.