What a crazy annual report season. All my clients this year saw their budgets slashed & a real need to tell their stories. So in an ongoing effort to help them I came up with three viable solutions using our GoGreen method.
First, move to an online report & consider Notice and Access (N&A). By switching to an online report and using N&A you can save a significant amount in printing fees. This policy literally saves trees; stops the release of pulp and paper pollutants into the environment; and saves on the amount of fossil fuels and water that is typically used in the printing and transport of annual reports. BioMed Realty and Extra Space Storage adopted N&A and they both created smart and compelling online reports this year. www.biomedrealty.com/08AR and www.extraspace.com/annualreport/2008
If you do not feel comfortable with an online report, try a hybrid approach. Although Leap Wireless took advantage of N&A they chose to print a small booklet to share their story & lead investors to an online report to receive more information. The booklet is “6 x 9” in size and is a 16-page self cover document. All 16-pages can be printed on a single recycled sheet through the press. This demonstrated Leap’s effort to provide a transparent and balanced account of the Company’s achievements while being environmentally conscious. They saved 7 full grown trees & 580 lbs in greenhouse gases ~ very cool! You can visit Leap’s website to view this hybrid approach. www.leapwireless.com/ar08
Finally, do less, not nothing. The form 10k for all intents and purposes is a dated and tedious document. By sending it out alone it can send the wrong signal, especially if it is in stark contrast to previous annual reports. I think it can sometimes imply a more distressing financial scenario than is appropriate. Make your annual report do more in fewer pages &/or simplify the design & printing. So many companies make their annual report look like a glossy brochure. Zions Bancorporation also implemented N&A, but did not design an online report because they felt strongly they needed to send out a printed report to answer some tough question the bank had been receiving and explain the move to N&A. The book is 8.5 x 11 ~ but by choosing a design concepts with little photography (just photography of Harris Simmons, the President & CEO), using fewer pages and by printing on FSC-certified recycled paper they were able to see a significant savings over last year’s budget. Also, in my humble opinion, I believe this simple, clean approach is more appropriate for the times. www.zionsbancorporation.com
I hope these ideas help. Feel free to share your tips on what your company did this year with their annual report and to save money.
In the weeks to come we will be speaking with some IRO’s who used N&A and moved their report online and get their thoughts about the process and how it is being received by investors.