Seven keys to successful investor relations. Why is it that a profitable company has a stock whose price performance trails its sector while a similar company’s stock is doing better than the same index? Why does the market undervalue some companies and not others? Part of the answer will be found in a company’s investor relations efforts. Investor relations is a proactive and interactive process in which important information is continually disseminated, not only to the financial community but also to a company’s other key constituencies, to ensure that the company will be accurately valued in the marketplace.Successful investor relations requires thoughtful planning and careful attention to what I call the seven keys to successful investor relations: 1. Goals What are the goals of your investor relations plan? A higher share price is certainly one. But there can, and often should, be others. As you define the goals, think broadly while focusing tightly. Be sure the goals are measurable, time related, and are something your program can affect. 2. Understanding As Stephen Covey says, "Seek first to understand." Those words apply to a successful investor relations program. You need to understand what current and prospective investors actually think of your company, your industry and your sector. You need to truly understand the issues and concerns that affect the perception of your stock as an investment. Don’t assume you already know. Have a third party do a brief survey of current and prospective investors. It won’t cost all that much but the information and insights you gain will be very valuable. 3. Planning A thoughtful plan will improve your likelihood of success. Be sure your investor relations plan has clearly defined goals and objectives, target audiences identified and segmented, strategies and appropriate tactics, and a mechanism for getting feedback and evaluating effectiveness. 4. Communication You need to communicate effectively. The challenge is to craft messages that both speak to the investment community’s concerns and support your goals. They must also be clear and easy to understand. They need to be consistent whether presented orally, projected in a PowerPoint presentation, posted on your web site, or printed in your annual report. 5. Integration By integrating your investor relations and public relations programs, you can ensure that all of your constituencies are hearing the same story. It is vital that all of your audiences, from customers to shareholders, receive consistent core messages. Unintended, mixed messages can rebound to harm your stock. Things you say in a sales meeting can show up on an internet discussion board. Claims in your marketing materials can come back to haunt you in a shareholder lawsuit. All of your messages need to be integrated and unified because they will influence how your company is perceived. 6. Opportunities Look for opportunities to reach out to both current and prospective investors. Think beyond industry conferences and conference calls. There are a variety of vehicles you can use to get your story out. Since some are better than others, don’t waste your resources on the wrong ones. Evaluating the opportunities and choosing among the vehicles will be easier and lead to better results if you have defined your goals, researched your targets and are working from a well-crafted plan. 7. Change The communications environment is changing at an accelerating rate and you need to change with it. Consider the average age of buy-side analysts and how they communicate. A growing percentage of your investors are already using social media in their daily lives. They're coming to expect interactive communications from the companies they do business with and that expectation will increasingly apply to the companies they are thinking of investing in.  This development will change the way effective investor relations is practiced. That means you will have to change and rethink the relations part of IR.   You can’t control the day-to-day fluctuations in your stock price. However you can affect the way your company is perceived by the investment community. Incorporating these seven keys in your investor relations efforts will help ensure that the market’s valuation reflects an accurate perception of your company.