Spoiler alert: The comprehensive annual report reform of Suomen Pankki went smoothly. Thanks are due to the brave direction of the Bank. First the content concept, then other design based on it.

Everyone knows Suomen Pankki, few know its duties. The law requires an annual report, but for whom and how is it executed?

The idea of a complete overhaul of the annual report began to take root a couple of years ago: a desire to write for readers instead of the organisation and to support the implementation of the Bank's strategic guidelines.

“Perhaps I knew too little about the world of central banks and too much about communication,” smiles the head of the digital communication group, Mari Hienonen, recalling the time on the brink of a major change.

>> Explore the online annual report of Suomen Pankki

An internal marketing campaign sold the idea of reform

The former chairman of the United States Federal Reserve, Alan Greenspan, once said: “Ever since I became a central banker, I have learned to mumble with incoherence. If I seem too clear to you, you must have misunderstood my words.”

Research shows that Greenspan's words hold true: economic texts are often incomprehensible. The working group advocating the reform decided that the mumblings of Suomen Pankki should now be hushed.

“We wanted to reach new target groups, be diverse, transparent, discoverable, and understandable,” Hienonen summarises.

The reform of the obligatory statutory document into an effortless online service was a significant change. The working group wanted to give everyone time to adapt to the new approach and express their opinions before commencing the task.

“We planned internal marketing material together with Crasman. With its help, we sparked conversation among our own staff and finally sold the idea to the board.”

The content concept and writing tools led to new paths

The content concept was created in two workshops led by Crasman. It was based on research data and the strategy of Suomen Pankki, but described only the desired outcome in a comprehensible package.

The content concept, tailored checklists, online writing instructions, and script templates formed the overarching guide for the writing task of a group of forty experts.

Hienonen says that the toolset and the coaching session led by Crasman for the writers were a crucial part of the success.

“It is easier to think outside the box with the support of external professional help,” she reminds.

What is a content concept?

A content concept is a framework that helps content creators focus on the essential and work towards a coherent outcome.

The form may vary according to the purpose, but a high-quality content concept can be recognised by three things. It is based on strategic goals and assists in achieving them. The summary is so clear that it is accessible to its users uniformly and easy to explain to outsiders. A good content concept is not just fluff, but it carries through to completion and makes the content desirable and meaningful for the consumer.

The document is intended not only to assist but also to inspire. Suomen Pankki’s content concept, condensed into one page, included a summary and the related definition, along with a couple of target images and quotes picked from the workshops.

“It was important for us that the annual report reform feels like a pleasant and unique project for the contributors,” Hienonen says.

An external editorial round improved search engine visibility

The partnership between Suomen Pankki and Crasman began four years ago with the concept, design, and technical development of the Euro and monetary policy website. The annual report website expanded the collaboration into Crasman’s strategic services.

The content team continued working after the concepting phase with reviewing experts' texts. They particularly commented on the comprehensibility and fluency of the text and made adjustments related to search engine visibility.

“I am pleased that we had Mari and Arttu in our team. They were humble, precise, and relentless in front of the Bank's experts. The editing phase went smoothly,” Hienonen reports.

The accessibility directive was implemented by mirroring reality

After the content work, the site design began – a phase where the user interface, structure, and appearance were exceptionally based on the final content. Furthermore, the completed content helped designers and developers implement the new accessibility directive requirements by mirroring real use scenarios.

“The nightmare was that we would transfer the hundreds of pages of the previous years' annual reports as they were online, but luckily that didn’t happen. The technical work also went smoothly, and we are super pleased with the end result,” Hienonen compares the initial fears with the post-publication sentiments.

The time before the next annual report is an opportunity to observe analytics and make content-driving decisions based on them. And to remember the most important lesson from the reform:

“You can never start too early.”

Oh, by the way, do you know the most important task of Suomen Pankki? It is to build financial stability.