Narrative reporting is back on the agenda!

It's a couple of years now since the IPA produced its annual reviews on best practice in narrative reporting. The most recent, in 2009, 'Best practice in narrative reporting - a global perspective' focused on top advertisers in the UK, USA and Asia, and provided commentary on levels of transparency in company reports about marketing investment, brand and marketing communications strategy, and key performance indicators. The findings were pretty disheartening.

However, new reasons for optimism are emerging. PwC's Corporate Reporting blog from 18th January 2011 reports that 'in the UK we have some really interesting progressive thinking coming out of BIS around narrative reporting.' (The IPA wrote a submission as part of the consultation process, on its members behalf, last autumn.)

In addition, the Financial Reporting Council (FRC) have themselves published a new report , based on their own consultation, entitled "Effective Company Stewardship - Enhancing corporate reporting and audit.". The most significant and interesting point, apparently, is hidden away on page 20, where reference is made to the potential formation of a "financial reporting lab": a place where new reporting models and concepts could be explored, tested and tailored (without liability) to enable greater innovation in the market.

Sounds like a brilliant idea!

City analysis

As part of the IPA's City Programme we produced the following range of publications:

Best practice in narrative reporting 2009 (12.08.2009)
Best practice in narrative reporting: an international perspective analyses 50 reports from the 2008-2009 financial year, including the top 10 consumer marketing spenders from the USA, Europe and Asia, and a further 20 UK reports, representing top media spenders in the UK.
To download PDF please visit:
http://www.ipa.co.uk/Content/Best-practice-in-narrative-reporting-2009

KPI’s for marketing reporting (23.04.2008)
This publication sets out why marketing KPIs should be included in the company reports of the FTSE 350, what the measures of marketing success are, and how to predict them; from which 20 performance indicators are identified. It also explains why marketing KPIs are currently left out of such reports, for example a lack of involvement from marketing departments in preparing them, a lack of confidence in the credibility of marketing data amongst report preparers, and a lack of a coherent framework against which marketers can provide the data the boardroom is after.
To download PDF please visit:
http://www.ipa.co.uk/Content/KPIS-FOR-MARKETING-REPORTING


How Analysts View Marketing (28.07.2005)
IPA research among 50 leading City analysts representing the FMCG, automotive, telecoms, financial services and alcohol sectors, which shows there is an ‘information deficit’ when it comes to tracking advertising and promotions (A&P) activity.
To download PDF please visit:
http://www.ipa.co.uk/Content/How-Analysts-View-Marketing