Quite a while back I came across an opportunity to buy shares from a company that was about launch its first Initial Public Offering (IPO).
A newspaper had reported the location of the sale and being relatively close by, I decided to check it out.
It was a madhouse. There were so many people queuing up to buy shares that the line was 10 deep. I tried to get information about buying the stock, but no one outside knew the answer. I had to get in to ask my question, which meant lining up under the hot sun.
The line was also not moving, which prompted me to scurry back into the shelter of my office.
I had no idea about the process for buying stocks in Indonesia, so I did what any other person would do: Find more information.
A quick search on Google located a phone number of the brokerage firm that was listed for this particular IPO. Unfortunately, attempts to contact a living human being were unsuccessful since it appears that everyone was too busy to answer a few questions.
In fact, when I finally got the operator, she suggested I go to the sales venue and line up!
So back to the website I went, looking for the most basic information on signing up with the firm and picking up those shares.
I found nothing.
The website had all the information about the firm, from mission to vision, company background, the performance of its portfolio, contact details and even a sign up sheet to become a customer.
Yet the information I needed the most was the processes on how to buy shares in the Indonesian Stock Exchange: What documents did I need; what obligations must be met; and how much initial investment is required?
There were no basic frequently asked questions (FAQ) or guidelines for the neophyte investor to invest in the capital markets.
Instead, there was an online form that demanded a lot of personal information to sign up, when it was not exactly clear of how much capital was required or the service fees that would be charged.
This represents a lost opportunity for the brokerage firm, and the client who was about to launch the IPO, as there are literally thousands of new investors who are itching to get their feet wet in the Indonesian Stock Exchange.
It would have been so much easier had they put this information online. Corporate websites are not just a home page on the Internet to market your company but can also potentially capture new markets and customers. And the content must reflect that.
A quick examination of a number of brokerage firm websites reveal, or at least give the perception, if they care about their customers or not. How much information helps push potential clients off the fence towards investing, and provides them with the best data towards making an informed decision?
How much of the information is more about the company, its corporate structure, its milestones and other past information that has nothing to do with the future performance of the stock portfolio?
I am always amazed by the limited information provided by corporate websites. Companies have the unlimited capability to communicate to their stakeholders via the Web, yet due to the argument of "high costs", they minimize what they put online.
And even though only 10 percent of Indonesians have access to the Internet, it is within this market (tech savvy, disposable income, highly educated, living in urban areas) that brokerage firms should be targeting new investors.
People also forget that 10 percent of Indonesia is the equivalent of 25 million people, or a market that is rarely tapped by companies and brands.
So how can you get their attention?
Inform them: Provide the best information about your products and services and the industry as a whole (in this case, the requirements for investing, paperwork, taxes, case studies, etc.)
Engage them: Post commentaries online or on a corporate blog to help educate the market. Posts like this can also help the media on finding new sources of information or spokespersons for your particular industry as well as begin a long conversation with potential clients.
Provoke them: What you know about your clients? Create surveys to learn more about what your customers think about you and your industry. Offer prizes to ensure the information you get is hygienic as well as opportunities for them to learn more from you via member's-only emails or other methods of communication.
It appears that Indonesia has a long way to go to engage people online.
