With new technologies constantly emerging from academic and commercial environments, communicating the potential applications of exciting scientific and technological developments is crucial in order to gain public understanding and investor confidence. The peer community, the general public and potential investors all need to be clear on the benefits and possibilities generated by such discoveries. However, communicating the key messages and intricacies of these developments can be complex in certain areas, where there are potential pitfalls to be avoided.

WHY SHOULD COMPANIES INVEST IN COMMUNICATIONS?

The benefits of communications to a company can be vast, ranging from increased internal confidence and satisfaction from employees to raising the share price of a publicly listed company. However, for many companies starting out, expense can be an issue, so any potential investment in communications should be assessed in order that the potential benefits in returns outweigh the investment. For new companies where cashflow can be tight, a judgment is needed regarding how the returns will outweigh the investment.

Communications needs vary from company to company, but there remain some common benefits from investing in this area:

• Business and scientific partners become aware of the company’s products and capabilities and develop confidence in them
• Investors develop an understanding of the business, enabling them to analyse and evaluate the company appropriately
• Media become familiar with the company, thereby increasing chance of coverage
• Accurate coverage and clearer portrayal of the story is possible when the ‘picture of the puzzle’ and the ‘pieces of the puzzle’ are effectively communicated to the media
• Effective issue management protects against diminishing company value
• Builds morale internally amongst employees and other stakeholders

WHAT TYPES OF COMMUNICATIONS ARE AVAILABLE?

There are vast numbers of ways in which to communicate. Depending on the company’s stage of development, there may be some types of communication that are more appropriate than others. The communications methods used and the value gained will be specific to a company at a certain stage of its development. For example, a basic website with contact details and information may be appropriate when a company is just starting out, but will need significant development as it matures. A mature company’s website is likely to contain history, ‘about us’, management, technology, news and events and investor and contact information sections. A company’s range of marketing materials will also increase as the company grows, from initial basic factsheets to annual reports. Posters, exhibition stands and even videos may also be developed for large conferences, so the range of materials available to convey a message are potentially vast, although not always obvious from the outset. The media can, of course, also be a very important conduit in communications.