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A Mobile Milestone – 50,000 IR App Downloads (. . . and counting)

In 2011 when the concept of theIRapp was first being developed, we considered many issues that we would face not only as a start-up company, but also as one creating a new product category in the mature investor relations industry.   Would companies embrace the importance of establishing a mobile IR strategy and allocating resources to having an IR app?  If yes, would investors be willing to download an individual company’s IR app to their very personal mobile device?  Was technology really creating a new paradigm in an industry that for more than a decade had not really experienced anything new?  Might we be the first?

After almost two years since our official launch in June 2012, we now know the answers to these questions:

  • Nearly 100 companies across all industries, including Fortune 100 global organizations, have subscribed to theIRapp and have their own branded app available on the Apple App Store and Google Play.
  • More than 50,000 investors, executives and media have downloaded IR apps of those companies they follow and who have subscribed to our platform.
  • Companies that consistently market their IR app to their investor base are seeing downloads increase daily and some have thousands.
  • When a subscribing company posts new information to its app, more than 10% of users view the content after receiving a push notification (that is only available with a native app); a much higher open rate than that of blast emails.
  • For a company announcing a major event (e.g. an acquisition, quarterly earnings, etc.), the open rate increases to more than 30%.

There are some who might argue against the need for a native IR app given the ability to have an IR website optimized for mobile.   I would suggest that the two are not mutually exclusive. Indeed, many companies whose IR website provider offers an optimized mobile website, also have a native IR app that can be downloaded from the App Store and Google Play.   And these companies will attest to the fact that their reason for having both was the robust user experience of a native app and the ability to better take advantage of the technology associated with a mobile device’s operating system.

Throughout my 15 year career as an investor relations consultant, one of the questions I often raise with my clients is how can you make the lives of your investors easier?  How can you communicate proactively and make information available in a manner that is consistent with the way your investors consume and want to receive information?

This is where mobile technology comes into play.  In a recent survey of 200 institutional investors by theIRapp, 83% stated that they rely on their mobile devices to do their work.  Combined with both the anecdotal and empirical data that now exists, it is safe to conclude that to the extent an individual has invested his or her hard-earned dollars (or a client’s dollars) in a company, they will benefit by downloading an app to their mobile device.  For the company, a native IR app provides them with an opportunity to have a mobile IR strategy.  For the investor it gives them a richer mobile experience as well as the ability to instantaneously be notified of and “pushed” critical financial and investor information.

What are your thoughts on “the mobile investor?” We would love to hear from you!

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