If your company has undergone significant changes or experienced substantial growth in recent years, it’s probably time to assess whether your IR website reflects those changes.
But where to start? How do you select an IT service provider? What are the dos and don’ts?
Tara Atwood, director of IR at Hyatt Hotels Corporation, recently led her firm’s development of a new IR website to reflect the growth and transformation the company has undergone since its IPO in 2009. Below, she explains the challenges and achievements involved and offers tips on what to focus on and what to avoid if you are thinking of enhancing your IR website.
What inspired the development of Hyatt’s new IR website?
The launch of the new IR website at Hyatt was driven by the desire to showcase our company’s transformation to the ‘New Hyatt’.
Our new IR website serves as a platform to reflect this transformation and is designed to offer transparency and direct access to critical information, investment considerations, industry events and [information on our] executive team and board of directors, ensuring that stakeholders and investors are well informed and engaged with our transformative journey and future growth.
Before embarking on the new website project, did you actively seek input or insights from investors and analysts?
Yes, we are very actively engaged with our investment community, which continuously allows us to strengthen our communication strategies, including the development of our new IR website.
Our extensive engagement provides continuous, unsolicited insights throughout the year. The IR team and executive team at Hyatt diligently listened to questions and feedback from these interactions and used this information to strengthen our communication strategies, ensuring they align with our stakeholders.
In crafting the new website, what specific elements did you prioritize as your main focus?
We concentrated on delivering an immersive experience that reflects the essence of our Hyatt brands and properties. We aimed to transcend the conventional website experience, creating a space where our stakeholders feel as though they have stepped into one of our properties. Our landing page presents the most pertinent information our stakeholders look for.
This includes the latest materials from our earnings reports, recent news, details about upcoming and past industry events, our purpose of care and a user-friendly interface that allows for intuitive navigation to specific materials our stakeholders need in just a few clicks. Our overarching goal was to create a platform that not only serves informational needs but also embodies the welcoming and caring nature of our brand.
What challenges did you and your team face throughout the process?
Creating our IR website came with its own set of challenges. It was important to balance compliance requirements and data-driven content with our aim to create an engaging and aesthetically pleasing website. Additionally, sticking to our brand guidelines while diving into less familiar areas like design and marketing needed a collective effort.
In your experience, what are the essential practices to follow and pitfalls to avoid when designing an IR website?
Best practices include:
- Brand representation – Have your IR site reflect your brand’s identity. This communicates who you are as a company and what you stand for
- Stakeholders – Understand and cater to the needs of your stakeholders, including investors and analysts. Ensure that the most- needed information is easily accessible, right from the landing page
- Simplicity – Embrace a ‘less is more’ philosophy. Focus on delivering clear, essential content to avoid overwhelming stakeholders and reduce unnecessary inquiries.
Pitfalls to avoid:
- Procrastination – Avoid delaying designing a new IR website. Time is always going to be limited. Embrace the mindset of ‘just do it’
- Ignoring internal resources – Collaboration is key. Leverage the expertise and support of internal teams, such as marketing, legal and communications
- Downplaying – Celebrate the launch of your site. Often we try to be overly humble, but it’s important to inform stakeholders about the new site and acknowledge that their feedback and needs were considered during the development.
When selecting an IT service provider, what criteria or attributes do you consider most important?
For our team, the priority was selecting a service provider with exceptional, white-glove and personable service, ensuring we felt supported and confident in its commitment to the best outcomes for our site and the continued service of our digital needs. It was crucial to choose a provider well regarded within the IR community, with strong testimonials from other IROs and companies highlighting impact.
In IR, fostering partnerships is vital, and service providers are seen as extensions of our team. This reciprocal respect and partnership are fundamental, ensuring it is fully engaged with our IR objectives and can deliver its best for both its company and ours.
What feedback have you received since the launch?
Since our IR website’s launch, feedback from both Hyatt colleagues and external stakeholders has been overwhelmingly positive. Internally, our Hyatt family actively uses the site for various resources, including presentations, earnings calls and updates from industry events. This high level of engagement reflects the site’s value as a communication tool.
Externally, stakeholders commend our IR team and management for the website’s transparency, consistency and clear communication, appreciating the easy access and responsiveness it provides.
