Creating an impact report is a significant undertaking that requires careful planning, data collection, and thoughtful storytelling. But the work doesn’t stop once the report is published. The “offseason” — the period between reports — offers a valuable opportunity to reflect on your past performance and identify ways to improve for the next one. Remember that an impact report is an accountability tool for your organization and is valued across stakeholders including your conscious consumers. If they can’t find your report, or don’t find it engaging or informative when reading it, you’re missing a key engagement opportunity and potentially damaging your reputation. In the following sections, we’ll explore how you can use the offseason effectively to enhance your future impact reports and maximize their value.
Understand How Your Previous Report Was Received
Begin by understanding how your audience received your previous impact report. Gathering feedback from stakeholders, including customers, employees, investors, and partners, can provide valuable insights into what worked well and what could be improved. This process will uncover if you’re focusing your impact efforts in the areas that matter most to your stakeholders and if you’re reporting on them adequately.
Conduct surveys or feedback sessions to gather specific reactions to your most recent report. Ask questions that delve into the clarity of the information presented, the relevance of the data, where you focused your impact the previous year, and the overall effectiveness of the storytelling. Consider using both quantitative and qualitative methods to capture a comprehensive view of audience perceptions.
For example, you might ask respondents to rate the report’s readability on a scale of 1 to 10 and provide open-ended feedback on what they found most engaging or confusing. You should also inquire about which of your various initiatives are most important to your stakeholders, potentially listing them out and having your respondents rank your impact initiatives on their level of importance. This information will help you understand how well your efforts and your report resonated with your audience and where there may be room for improvement.
Take A Quantitative Approach to Analyzing Engagement
Certain regulations and frameworks, (such as the Global Reporting Initiative (GRI) Standards and the European Union’s Non-Financial Reporting Directive (NFRD)) and many states with Benefit Corporation legislation mandate that companies disclose their social and environmental impacts. These requirements ensure transparency and accountability, compelling organizations to produce comprehensive impact reports that detail their sustainability practices and progress towards set goals. If, however, you’re only producing the impact report to comply with regulations, you’re likely missing out on the impact your report can have on your bottom line.
Studies show that 88% of consumers seek information on a company’s Corporate Social Responsibility (CSR) initiatives before making a purchase, and 77% are more motivated to buy from companies committed to CSR. Additionally, 90% of consumers globally are likely to switch to brands that support a good cause, reflecting the growing importance of corporate responsibility in purchasing decisions (Procurement Tactics).
Just as important as measuring your carbon footprint, ensure that you’re maximizing the health of your organization by measuring the impact your communications are having on your customers, especially your impact report. Review the engagement data from your most recent report to assess its performance against your goals. This data can include metrics such as website visits, social media shares, downloads, and direct feedback.
Analyze the data to determine whether the report reached its intended audience and if the engagement levels met your expectations. If the report didn’t perform as well as anticipated, consider improvements to your amplification strategy.
Evaluate your distribution channels and promotional tactics to identify areas where you can increase visibility and reach. Are there new platforms or networks you should be leveraging? Can you improve your content marketing efforts to drive more traffic to your report?
Additionally, consider the timing and frequency of your report promotions. A well-timed launch and ongoing promotion can significantly impact your report’s visibility and engagement.
Look at Impact Report Trends in Your Space
Staying informed about industry trends and best practices is crucial for creating impactful reports. During the offseason, take the time to review what others in your space are publishing. Analyze their reports to identify common themes, innovative approaches, and emerging trends.
Look for patterns in the types of data being presented, the storytelling techniques used, and the ways organizations are engaging their audiences. Are there new metrics gaining attention in your industry? Are there storytelling formats or design elements that seem particularly effective?
By benchmarking your impact report against those of your peers, you can identify opportunities to differentiate your report and ensure it remains relevant and engaging. This analysis will also help you understand the expectations of your audience and align your report with industry standards. Impact-reporting.com is a fantastic public resource where people share their recent reports for anyone to access.
Fill in The Gaps
Once you have gathered feedback and analyzed industry trends, it’s time to identify gaps in your impact report data and formatting. This step is critical for ensuring that your report provides a comprehensive and accurate picture of your organization’s impact.
Use the feedback from your audience survey and the insights gained from industry analysis to pinpoint areas where your data may be lacking. Are there specific metrics that stakeholders felt were missing or underrepresented? Are there new areas of impact that you should consider measuring in future reports?
For instance, if sustainability is a key focus for your organization, but your last report lacked detailed environmental data, this is an area to address. Consider expanding your data collection efforts to capture more comprehensive metrics on environmental impact, such as greenhouse gas emissions, energy consumption, water usage, waste generation, and biodiversity impacts. Additionally, tracking metrics on renewable energy usage, supply chain sustainability, and the lifecycle impact of your products can provide a fuller picture of your environmental footprint.
Get a Third-party Perspective
A fresh perspective can be invaluable when seeking to improve your impact report. Consider engaging an impact consultant or industry expert to review your report and provide feedback. A third-party opinion can offer unbiased insights and highlight areas for improvement that you may have overlooked.
An impact consultant can assess your report’s strengths and weaknesses, suggest best practices, and recommend strategies for enhancing your storytelling and data presentation. They can also help you identify opportunities to align your report with industry standards and expectations.
Additionally, a consultant can assist in refining your report’s messaging to ensure it effectively communicates your organization’s achievements. Their expertise can provide guidance on how to present complex data in an accessible and engaging way, ultimately enhancing the report’s impact.
