Social Media and reputation: what you can learn from big companies
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A presentation we made for Project DigitISE, who hosted 'Get the Digital Edge', a series of workshops and seminars for University of Westminster students exploring digital literacy skills and employability. We look at what online reputation is, why it matters, and how social media can affect it. By examining these questions in the light of FTSE100 activity on social media channels, we ask what it means for the individual.
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Social Media and reputation: what you can learn from big companies
- 1. Project DigitISE Social media and reputation: what you can learn from big companies Andrew Rigby, Senior Consultant at The Group 21 March 2013
- 2. We help organisations to connect, inform, understand and influence the people who matter to them Delivering enhanced corporate reputation and competitive advantage
- 3. 5 year average 1995 first site 2001 2011 2001 2010 2012 2000 2012 2009 2010 2003 2003 1995 2012 2008 2008 2004 2007 2012 2009 2009 2011
- 4. 367 awards 21 years 24 clients Digital Agency Of The Year 2012 Digital Impact Awards Tesco – Best corporate web site Tesco – Best online annual report 2012 ARC Awards and iNOVA Grand Prix Prudential – Best online annual report 2012 + 2011 IR Best Practice Awards British Land – Best Corp Web site 2011 Digital Impact Awards Centrica – Best Corp Web site 2011 CorpComms Awards SABMiller – Best corporate web site
- 5. What’s on the menu? 1. Why do companies use social media? 2. How do companies use social media? As we go along, we’ll look at what this might mean for you
- 6. Why are large companies using social media?
- 8. What Is Reputation? You don’t own or control perceptions of others Reputation is a perception of character Image is the view of the organisation held by external stakeholders Identity is the view of the organisation held by internal stakeholders Reputation is the sum total of image and identity Source: Henley Business School
- 9. The SPIRIT™ Model What Henley Business school found: Awareness is not enough Satisfaction is not enough Its BEHAVIOUR that counts! 9
- 10. Why does reputation matter?
- 11. Institutional investors stated that: “company web sites have a substantial impact on their attitudes towards a company and its stock” Research by Rivel
- 12. ...OK – but how does this relate to social media?
- 13. Corporate reputation and social media you what you say how you say it what others say Company Marketing Media Customers Sector IR Channels Employees Brand CSR Language(s) Communities Heritage PR Tone of voice NGOs Products Recruitment Visual identity Analysts Services Lobbying Investors Markets Internal Suppliers Relationships Job-seekers
- 14. Corporate reputation and social media you what you say how you say it what others say Company Marketing Media Customers Sector IR Channels Employees Brand CSR Language(s) Communities Heritage PR Tone of voice NGOs Products Recruitment Visual identity Analysts Services Lobbying Investors Markets Internal Suppliers Relationships Job-seekers
- 16. People want to engage on social media
- 17. Key corporate connections Investors Potential employees 52% read blogs 32% of professionals use G+, 24% made investment decision Facebook, Twitter or LinkedIn after reading blog for work every day 30% use Twitter High users are high flyers: 86% promoted recently The media CR audiences 84% use SM for sourcing Not homogenous – consumers, 28% of UK journalists say they investors, communities, can’t work without SM campaigners Twitter most popular (80%) Use SM to react, share, question, learn and campaign 2012 Brunswick Investor Use of Digital and Social Media Survey; 2012 Cision Social Journalism; How social technologies drive business success (Google/Millard Brown); A vision for the future of recruitment (ERE)
- 18. The FTSE100 social media index 2009 2009 2009 2009 2013 2013 2013 2013 2013 Scoring is based on a balance of qualitative and quantitative data http://www.the-group.net/336-social-media-index
- 19. In 2012 social media connections with FTSE100 companies doubled 38.5m people now like, follow, +1'd or subscribe to FTSE100 companies
- 20. Accounts attract a huge following 13 companies with over 1m views 10 companies with over 100k followers 7 companies with over 1m fans 5 companies with over 100k followers
- 21. Average numbers are rising fast 811,523 views (623,690 in 2011) 181,585 fans (72,850 in 2011) 37,807 followers (14,392 in 2011) 15,099 followers (6,773 in 2011) Adjusted to remove outliers
- 22. Active accounts attract the majority of FTSE100 connections 51 active accounts had 99% of likes 62 active accounts held 95% of FTSE100 followers 71 active accounts with 99% of FTSE100 followers 68 active accounts attracted 99% of views
- 23. Social media attracts attention during big events
- 24. Banking crises over 2012: no secret
- 25. Banking in spotlight for 2012 Growth in interest in banking sector versus average (2011 to 2012) 743% 558% 478% Facebook likes Twitter Followers Video Views Average % growth Banking % growth
- 26. Banking in spotlight for 2012 Peaks in interest on Twitter STAN, 7 May Liverpool FC shirts RBS, 21 JUN HSBC, 18 OCT Computer glitch DoS attack BARC, 28 JUL STAN, 6 AUG Libor scandal Illegal money laundering monitor.wildfireapp.com (daily growth in followers on Twitter, 2012)
- 27. How are companies using social media?
- 28. 4 steps Monitor Claim Broadcast Engage
- 29. Growing realisation of the need to interact with stakeholders 21 are open to comments (12 in 2011) 10 respond to comments (7 in 2011) 30 reply to wall posts (17 in 2011) 44 reply to direct queries (31 in 2011) 65 use #hashtags (48 in 2011) 65 have comments enabled (46 in 2011)
- 30. Linking with rest of social media 21 pages are integrated (out of 97) 22 pages are integrated (out of 70) 17 pages are integrated (out of 53) 22 channels are integrated (out of 76) 17 blogs are integrated (out of 24)
- 31. Channel linking: ARM Holdings
- 32. Mix of media on Twitter: Johnson Matthey
- 35. Collect and categorise images – yours and those of others Obvious for consumer brands Experian has boards (collections of pins) promoting blog posts, white papers, employee testimonials, videos, interviews and industry trends
- 36. High engagement: Standard Life
- 37. Companies are creating multiple accounts for distinct stakeholder groups 53 have more than one LinkedIn page 49 have more than one Facebook page 32 have more than one Twitter account 28 companies have more than one corporate YouTube account 7 have more than one Google+ page
- 39. Multi-channel crisis comms: Tesco
- 44. Don’t jump in
- 45. Be an ambassador, not a spokesman
- 46. Thank you…
Hinweis der Redaktion
- We are recognised as having the best corporate web sites in the UK. But from our perspective we’re not in the web site business – we’re in the reputation businessAnd by that I mean that everything we do as an agency is aimed at protecting / managing / enhancing / building the corporate reputation of our clients onlineWe’ll create a beautiful web site for you but that’s only part of the storyAnd that is it for us – yes – you’ll have a fantastic web site – but it’s purpose is all about your reputationAnd if you want to understand us as a company what we do is look after as many of the bits as possible and mitigate against the risks of the bad
- Ask people what they are interested in finding out. As we go along, we’ll look at what corporate social media activity and strategy might mean for you: learnings could be about how you use social media personally – but also more directly it might give you aheadstart on other employees in understanding how a company you work for could use social media. And hopefully you’ll get an insight into what an employer might expect from you on social media.Just a note – we’ll be looking at corporate social media, not brands’ activity.
- First we need to look at reputation – what it is and why it matters, to companies and to you
- This is as true for you as it is for companies – and it matters
- Experience builds reputation. Rankings like the Sunday Times ‘Best companies to work for’ aren’t reputation – but they are influenced by reputation, and affect reputation. What’s at the base of it all? How a company acts and behaves.There is a quote from Benjamin Franklin to the effect that “It takes many good deeds to build a good reputation – and only one bad one to lose it”
- So that’s what it is – why does it matter?
- Investors said this – which is them saying, we care about reputation and it can affect how we view your value – i.e. it affects stock price. It’s real!Now there is fairly widespread agreement on the importance of a good reputation and the value of a good reputation and the tangible benefits that it brings in….Shareholder sentiment / Consumer behaviour / Employee satisfaction / Analyst ratings (and share price) / Supplier relationships And should anything go wrong – in how the media cover a bad news storyFor you, you can gain a competitive advantage and ‘improve your stock’ with a good reputationShow the book on reputation management– reputation is important! Companies try to measure it too – eg Shell reputation tracker
- This in turn means that for companies, content is king, especially now the number of places and ways you communicate is growing. For you, it’s all about what you say and do, and how you interact is central, whether on social media or elsewhere.In the same way that companies need to have a consistent brand and content, you might want a consistent ‘brand’ for yourself. If you want to use social media to further your career, and don’t want to protect your accounts, make sure what you say is sensible and consistent. So a good social media strategy can only be good if the content – what you say - is good, and consistent across all channels. People soon spot fakes, or inconsistency.
- Another reason for companies to use social media.....and for you to.
- http://www.finextra.com/News/FullStory.aspx?newsitemid=24542Share price volatility is affected by the chatter of public opinion on social media sites such as Twitter and Facebook, according to UK financial professionals.A poll of 360 people from Colt Technology Services found that 63% of respondents, including brokers and heads of trading desks, believe the valuation of individual stocks can be directly linked to public sentiment contained in social media channels.Although only seven per cent regard sentiment on Twitter, Facebook and other sites as a leading indicator, just under half do consider it as a trailing indicator.2012 Brunswick Investor Use of Digital and Social Media Surveyhttp://de.slideshare.net/Brunswick/2012-brunswick-investor-use-of-digital-and-social-media-survey with LinkedIn (76%), Facebook (72%), blogs (68%) and ‘audiovisual sharing sites’ (65%)32% of professionals are using Google+, Facebook, Twitter or LinkedIn for work purposes every dayFrequent users more likely to be high flyers: 86% have recently been promotedSocial media not just about direct recruitment opportunities – everyone is a potential employee90% of relevant candidates not looking for a new job – engagement is a longer term goal for both parties
- At the Group we conduct a research programme begun in 2009 and repeated every six months, into how FTSE100 companies use social media.This year we have included LinkedIn and Google+ for the first time. You can find out more on our web site, but we’ll look at just a few of the key findings.
- So people want to communicate with companies on social media – yes, even corporate accounts! Don’t be surprised if people want to communicate with you on social media in a professional, not purely personal, capacity. Again, think about what’s on your profiles – and adjust privacy settings, or adjust what you put there....
- Are any of you followers of corporate accounts?
- Growth is fast
- If you are active on social media, expect to attract followers. And vice versa.
- Attention in a crisis - banking focus
- People use social media to find out the real story – it’s where people will see the real you....
- So this means that people are attracted to social media by events. For you, if you search for a job, or do something notable – expect people to look for you on social media. Would you be happy with that?http://promotions.prnewswire.com/rs/prnewswire/images/2012BNYMGlobalIRSurvey.pdfhttp://www.q4blog.com/2012/12/11/global-trends-in-new-media-and-the-investment-community/http://www.slideshare.net/BoxIR/box-ir-financial-market-survey-2012-summary2012 Brunswick Investor Use of Digital and Social Media Surveyhttp://de.slideshare.net/Brunswick/2012-brunswick-investor-use-of-digital-and-social-media-surveyInvestors’ interaction with digital and social media is increasing. 52% (+5) read blogs, 30% (+19%) use Twitter, 24% (+7) use social networks (2010 – 2012)Deeper online engagement is increasingly driving investment action. 28% investigated an issue based on something seen on Twitter 24% made an investment decision after reading a blog, 12% made an investment after reading TwitterDigital and social media replacing traditional media sources – importance of news releases -13%2013 Edelman Trust Barometerhttp://www.slideshare.net/EdelmanInsights/global-deck-2013-edelman-trust-barometer-16086761Credible spokespeople in 2013:Academic or expert: 69%Technical expert in the company: 67%A person like yourself: 61%Financial or industry analyst: 51%NGO representative: 51%Regular employee: 50%CEO 43%Government official or regulator: 36%
- Some tips for you assuming you want a professional social media presence...or if you want a headstart when you join that company.
- 3 steps for any company: first, find out what’s being said about you. Then claim your presence – a good name for example. Then start using – broadcast at first if you need, then engage Engagement is the end goal.
- 24 blogs 70 Facebook pages81 Twitter accounts
- Social media does not exist in isolation – link! Think about what you say and do on all channels.
- Popular channel – creating content in which people are interestedMany playlists to group contentVideos back up ‘real world’ engagement at conferencesCustomised designSocial media integration
- Use the medium, be creativePosting links to images and video creates a preview of the content in in the Tweet
- You can customise pretty well without breaking the bank
- Range of apps, focusing on energy issuesFeatures a careers appEngaging, to the point contentVisually very strongFacebook apps include Working at Shell, Energy mix, Natural gas, Future of energy, Alaska and In the community
- Use the medium – on Pinterest, being visual is key
- Replies to comments across its three Twitter accounts and Facebook accountAnswers questions and redirects people to other sources of information
- You might consider separate professional and private accounts
- @IHG - general account for the Group@IHG_CR highlights sustainability issues and is linked to the campaign Facebook page@IHGCareers posts to vacancies listed on LinkedIn
- Examples of internal policies – about principles rather than hard and fast rules – too many platforms, situations for a set of absolute rules. It’s about common sense. When you join a company, expect to get one of these.
- Think before you post – take emotion out of the equation.
- Leave it to the experts – be very wary of trying to speak for your company, however well intentioned.