Social Media Strategies
Choice of Strategy
There are many different possible social media strategies, depending on the style of company, the type of business, the mix of investors and the company's appetite for engaging with social media.
Only one strategy stands out. The strategy which says "We're not on social media, lets just HIDE!"
There is no longer anywhere to hide. You are already being mentioned on Twitter with your $cashtag.
A Basic Social Presence
You are the primary source of the news about the company. There will be discussion of your news on social media. If you don't participate, you are leaving that entire set of touchpoints to others to set the scene on your behalf.
As a minimum, IRM suggests you post your (important) ASX Announcements and other news to the main social media channels, so that you are seen to be first on those channels with each piece of news.
facilitates this strategy by providing automatic posting of ASX Announcements and other news to Twitter, Facebook and LinkedIn.
IRM can assist in setting up the necessary Company accounts for this strategy.
Amplifying the News
Publishing a new item on a company page on social media may not attract a lot of attention. It's best if the news is amplified by others re-posting, mentioning or liking the post.
Many executives in listed companies have their own social media accounts. Particularly on LinkedIn, often there are a number of people in the company who have their own LinkedIn networks.
Using these individuals' social media accounts to amplify the message can multiply the distribution quite simply.
Likewise, if there are similar organisations, industry groups and so on where there can be mutual re-posting of news for each other, the news feeds of the individuals become more varied and interesting, attracting more followers, and increasing the amplification of the company news.
A Larger Presence
If you seek more than publishing your news to investors as it happens on social media, and you want to engage with the comments they may make, IRM can assist with a discussion about the strategies, and an introduction to consultants who can assist to devise quite elaborate social media strategies.
A larger social media presence becomes more time consuming for the investor relations people in the company.
Some companies choose to do specific social media campaigns around their results announcements, or in crisis situations.