asx and social media - the what, why and how
TRANSCRIPT
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Social Media Monitoring The what, why and how public companies
should monitor digital
May 2013
ASX Compliance
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As of 1st May 2013, the Australian Securities Exchange expects ASX listed companies to monitor Social Media platforms in which postings of the entity
are known to been made.
- extraction from ASX Guidance Note 8, released 13th March 2013
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Competitors
Even if your company does not engage in Social Media, these people/groups do:
Employees Investors Suppliers
Activists News
Networks Ex-
Employees
Customers
Unions Community
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Within the ASX200 Companies, there are 431 Social Media Business Accounts*:
14%
41% 81%
39%
41%
? How many employee accounts are there in addition to this? ?
These are just figures for Official accounts, there are also ‘pirate’ & dormant accounts.
*Figures as per 2012 by BRR Media
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Of 50 Business & Financial Journalists surveyed*, 6 in 7 use Social Media for work:
*Data as per 2013 by Australian Business & Financial Journalists Social Media 2013 Report FTI Consulting
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It is imperative that companies keep a close eye on conversations
and news that breaks on social media which relates to their
company and industry.
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“Some companies avoid social media like the plague, but once the plague hits, social media is
the 1st place they turn to for engagement and that only
magnifies the disaster.”
- Journalist quote from the Australian Business & Financial Journalists Social Media Survey 2013 by FTI Consulting
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The risks of not monitoring Social Media:
• The Spread of Rumours
• Twitter and Facebook Hacks
• Trade Secrets
• Counterfeit
• Market Manipulation
• Presentation of False Markets
• Organisation & Brand Reputation Exposure
• Class Action Lawsuits
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Questions Directors & Company Secretaries should be asking: • Is Social Media being monitored 24/7?
• Who is monitoring Social Media?
•Are they qualified to do so?
•What department does this?
•Which agency carries this out?
• What is being monitored? Keywords, topics, platforms, people/influencers?
• Is there a risk escalation plan in place?
• Is there a Social Media policy in place?
• Who governs the use of Social Media?
• Have staff been trained on Social Media usage? Are they aware of what can and can not be said in the public sphere?
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Similar to traditional media, in Social Media, the next steps are:
PREPARE PROTECT PROMOTE
Understand the new compliance expectations & responsibilities.
Ascertain the ‘who’, ‘where’ & ‘what’ of monitoring.
Review your organisation’s Social Media policies & escalation plan.
Establish processes, inform & train those involved.
Monitor what others are saying about your organisation.
Manage your brand and reputation for risk.
Understand the community, competition, and industry.
Gain business intelligence via insights from the analysis to sharpen your strategy & execution.
Engage with your audience and build stronger, more enduring relationships.
Integrate your content across your channels for a 360° touch point approach.
Control the conversation and display your brand’s strength, resilience, and adaptability.
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Social Media Training Social Media Policy
Planning & Guidelines
Social Media Corporate Governance Structuring
Issues & Crisis Risk Planning & Management
Social Media Monitoring & Analysis
Business Intelligence Reporting via Analytics & Insights
Forecasting & Predictive Risk Management
Internet Forensics Digital Channel & Content Integration
Social Media Clean-Up & Aggregation
Social Media Audit
1. Understand the Landscape
2. Prepare & Protect
3. Intelligence & Insights 4. Promotion & Engagement 5. Investigation of Issues
What organisations need to do: The Process
Social Media Engagement
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About Online Circle Digital:
We live in the now. Online Circle is a digital agency that understands the power of technology, its impact on peoples’ lives and the opportunities this rich relationship creates.
The traditional space as we know it no longer exists and has been entirely penetrated by digital.
And if you take a look around, you’ll find the best organisations and brands are often social, because humans are exactly that.
We are:
• Data & Strategy driven
• Technologically inventive
• Creatively astute
• Humanity obsessed
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About Online Circle Digital:
We provide a Securities Social Media Solution. Online Circle provides a 360° approach to your corporate needs.
In addition to taking your organisation through each step of ‘The Process’ as stated before, we use tools such as Online 1984, our proprietary monitoring system in addition to other methods to deliver thorough monitoring.
At present, Online Circle conducts monitoring of investor forums and the like across the ASX, NASDAQ, DAX and TSE for clients in the following industries – Financials, Banks, Real Estate, Retailing, Automotive and Food Beverage & Tobacco.
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Our Tools | Online 1984
Monitor Brands and Competitors
Just as how business risks are present in the offline world, the same applies online. Online Circle’s modus operandi is prepare, protect & promote – and we do this for your organisation and brand 24/7.
Online 1984 is our own powerful online tracking tool that empowers organisations and individuals by capturing and manually reviewing, by our online analysts, all mentions within a community, by an individual, of a brand, product, subject, trend or competitor.
Our methodology is one based on acknowledging that human aspects like phrasal nuances, slangs and colloquialisms cannot be automated, which is why we provide real human analysis and insights of your online presence so you are fully informed to make the best decisions about your online health.
www.online1984.com
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Our Tools | Social Pulse
Track Performance & ROI
Social Pulse is Online Circle’s proprietary tool and response to the noisy and cluttered social media measurement world. For years companies have been engaging time and money in social media, but they haven’t been able to calculate the return on their investments.
Social Pulse simplifies the process by translating big data and giving you what you need to determine your performance and ROI in social media marketing.
Whether utilised for business strategy, investment management, content tactics, or competitor analysis, Social Pulse is in constant evolution and built in response and anticipation of our digital age and its development.
We believe that information is beautiful; it is also business smart.
www.socialpulse.co
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Contact Us
For more information, a general chat or to receive Online Circle’s credentials, please call (+61) 3 9696 9176 or contact:
RACHEL FANG
Account Director
+61 406 071 509
JEFF RICHARDSON
CEO
+61 423 694 338