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HOW TO... maximize the impact of your annual report
An annual report is the single most important communications tool a company produces in the course of a year, according to Reni Witt, president of the New York-based Annual Report Competition Awards, the world's largest competition of its kind. Organizations vying for ARC awards this year included General Motors Corp. and the Rockefeller Foundation. Witt added that annual reports are not simply a financial snapshot of a company. "The reports, which go to so many different audiences from shareholders to employees to investors, are multi-purpose documents that can be used for public relations, marketing and even recruiting purposes." She added that more and more, annual reports are being used as vehicles to show not only past performance but also to present a vision of where a company is going in the future -- a critical element given today's tough investment climate. With so much weighing on your report, it is important to maximize the impact of this document. Local graphic designer Tom Thorpe and his partners at TMT Communications Ltd. in Vancouver's Yaletown, have a combined 22 years of experience in the production of annual reports. B.C. clients include Duke Energy Gas Transmission Canada and Sierra Systems Group Inc. Witt and Thorpe offer tips to help navigate the process involved in producing standout annual reports. Identify all the decision-makers and everyone else involved at the start "Note their roles right at the beginning," said Thorpe. "If someone new gets involved in the project when you're three-quarters of the way down the road, you're going to get into additional costs and stresses that are unnecessary." Look for a designer who specializes in this area "Annual reports are a different animal than other corporate communications tools such as brochures," said Thorpe. "These are very time-sensitive, financial documents which have a mailing date to get into shareholders' hands." He added that annual reports typically involve a lot of revisions, and inexperienced designers will look to pass on higher costs to their clients. Designers used to working in the area will have factored in revisions costs in their original cost estimate. The work often falls into evenings and weekends to meet delivery times, so ask prospective designers if they are prepared to do this. Draw up a project plan with tasks and timing Working with your designer, discuss your main message, timing, size and look of the report, source of contents, timing and budget. Discuss how the contents will be passed among parties involved: whether in disc form or by e-mail, and what programs will be used. Choose a printer that has experience in annual reports "Your printer should be used to the frequent revisions and time-sensitive nature of the work," said Thorpe. "The printer should also have the latest print technology to be able to turn these projects around on time. That is mostly computer-to-plate, which makes it easier and cheaper to make revisions as you don't have to output film. Also, take a look at samples with an eye for the quality of printing -- things like consistent colours in a logo throughout the report." Get printer recommendations from designers and colleagues Thorpe recommends seeking out experts who work with the printing industry day-in and day-out and who can co-ordinate with those they feel are best for job. Make sure there is early liaison between the printer, designer and your team "As designers, we have to ensure our files are in the correct form that the printer can work with. The printer should be consulted with regard to the size of the project, page size and paper stock and other factors to ensure the project will print properly on the press and is produced in a cost-efficient way," said Thorpe. Use special effects carefully "Embossing or dye-cuts (where a design or graphic is cut out from the paper) can make your report stand out. However, make sure these tie in with your overall message and are not just a frill that makes it look like you are wasting money," Witt added.
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