Megan Hjulfors, ARC Resources Limited
As an IRO, approaching the ‘Pandora’s box’ of social media for the first time can be daunting. With so many platforms, limited time in the day, and varying views, it can be hard to know where to begin. This column is intended to boil down the key platforms you need to know and provide some helpful tips for getting started.
Platforms: Who’s who in the Zoo
There are an endless number of social media platforms. Here is a look at the key platforms that are arguably the most relevant to an investor relations program. You will notice that there are many ‘talked about’ platforms not included on this list (Pinterest, SlideShare, Tumblr, StockTwits). These platforms have not been overlooked; rather, they have not been included because my feeling is that they are not as relevant to IR today.
Facebook: www.facebook.com
What is it?
Okay – if an explanation of Facebook is really necessary, you have clearly been living under a rock for almost a decade! Facebook is the second most popular website in the world with over 1.3 billion users worldwide. Facebook is a social utility site that connects people through the sharing of updates, photos, videos and links. Facebook reports that 30% of users ONLY log in.
How to use it
Facebook is about community building. It is widely utilized by numerous demographics. Authenticity and localized narratives are most effective on Facebook. It is a great place to build stronger relationships with field/local communities and to share the great things your company is doing in the community.
Twitter: www.twitter.com
What is it?
Twitter is a microblog, where users can post messages limited to 140 characters. Beyond written messages, sharing photos and links is also popular. Twitter reports that 80% of active users are on mobile devices.
How to use it
Twitter is most useful as a site for ‘what’s happening now’ news and information. Posts should be concise and to the point. Posting links to news releases or corporate announcements works well on Twitter.
LinkedIn: www.linkedin.com
What is it?
LinkedIn is predominately a professional networking platform – it’s the Facebook of the business world. It is used to connect professionals with each other, and also to connect professionals to your business. Additionally, it can be a powerful recruitment tool.
How to use it
Companies can create a corporate LinkedIn page to post jobs, share corporate news and connect with followers. Content on LinkedIn can be a little more ‘buttoned down’ and formal in nature compared to other sites.
YouTube: www.youtube.com
What is it?
YouTube is not just a video sharing site, it is the video sharing site, with over one billion users worldwide.
How to use it
Companies can create corporate pages to house their video content and expand the reach of their content. The latest YouTube statistics show that 50% of total views are on mobile devices. This is an important factor for IR teams to think about when creating video content, as content should be created to be mobile friendly. Although a viewer commenting feature is available on YouTube, it is acceptable to turn off the section, and frankly, it is advisable, as the YouTube commenting section is notorious for ‘off colour’ comments. This does not hold true for other platforms such as Facebook, where active user engagement should be encouraged.
Instagram: www.instagram.com
What is it?
Instagram is an online mobile photo and video sharing platform. Part of Instagram’s appeal is the ability to apply filters to photos – making an ordinary cell phone photo much more artistic (especially if you have my camera skills!). Today Instagram has over 200 million users worldwide.
How to use it
The mobile app is used for documentary style photos and short videos (15 seconds maximum). Instagram is not a photo sharing album like Flickr or Facebook albums, but rather captures a moment in time – as is implied in its name. Photos are accompanied by short captions. Don’t be afraid to add a little humour to your captions, as wit and personality play well on the platform. Instagram can be a spot for projects or campaigns that have a visual component or are more lighthearted in nature.
Flickr: www.flickr.com
What is it?
Flickr is a photo and video management and sharing site. Flickr functions as an online community, allowing users to create a network of followers who can view their photos. Unlike the other platforms discussed, it is primarily a desktop platform, although an app version released by the company has borrowed many features from Instagram.
How to use it
With Flickr you can create albums to share and organize photos. One of the biggest advantages is you can control privacy settings and who has access to your albums. Flickr is a great platform to share photos from an event or even to create an album showing your operations or documenting a project.
Getting Started: Tips and Tricks
Mastering social media is no easy task, made harder by the fact that nothing about it is static. The discourse and trends on platforms are always in flux. As users, we must stay up-to-date on these changes and amend our approach to fit. Although it may feel like a whole new world, social media doesn’t change the underlying objective of the job of an IRO, which is to tell our company’s story in a truthful and compelling way. Here are some tips to help you get started on the right foot in a social world.
Be an Anthropologist Before a Participant: The culture and language of each social media platform is different from the others. In order to successfully communicate within the platform you must first take the time to observe and learn the customs, norms and languages. Pay attention to tone, content style and form. Understanding these elements will go a long way in creating effective content, and gaining traction and followers on the site.
Use Native Content: The type of content that works on Twitter will not work on Facebook. It is critical to understand these differences and to repackage your messages to suit the platform. The key word here is repackage. You are not creating new key messages for every platform and you are not changing your brand personality; rather, you are adjusting for the platform. Think of this in terms of how you might speak at a business lunch relative to meeting friends at the pub.
Pay Attention to the Medium: Taking a moment to channel Marshal McLuhan, the medium is an important part of the message. The medium influences how people interact with content. For example, how we read something on our phone versus a desktop is different. As communicators on social media, it is necessary to be aware of what devices are most popular for each platform and to adjust content appropriately.
Don’t be Afraid to Experiment: In some ways creating content for social media is like throwing spaghetti on the wall. At first you may find that nothing sticks, but once you start to get the hang of the time and temperature required you will get more sticky noodles. However, be cautious in your experimentation and mindful that you must protect your brand in this hyper-public arena. Experimentation does not mean forgoing your brand values and key messages; it means experimenting with different strategies to engage users with your brand and key messages.
Checklist Approach: Master one social media platform at a time. This way you can efficiently use your time and efforts to create valuable and engaging content that works on each platform. Remember to focus on quality over quantity when it comes to deciding what platforms to utilize. Think about what your communications goals are and which platforms are best suited to help you achieve them.
Fall in Love with Statistics: Most social media sites provide platform-based statistics. Using these tools is a great way to better understand your followers, most viewed content and site trends. Taking the time to analyze this data will help you create more impactful content, plan your social media program and track your progress. Generally these platforms are user-friendly and customizable to provide you with the data you need.
Make a Plan: Don’t be laissez faire when it comes to social media. Take the time before you begin to outline your goals and objectives, as well as internal processes and procedures. There is so much in social media that we cannot control (such as user comments) that applying as much rigor as possible will aid in executing communications objectives and supporting the company’s brand and reputation when the unexpected is encountered.
The best way to learn about social media is to get started on social media. Most platforms provide brief instructions on how to create an account and a description of how the platform is used. Create an account and hang out as an observer until you are ready to take off the training wheels. Here are additional resources to help on your journey:
- Kids, grandkids or colleagues under 30 (if you don’t have one, borrow one)
- Jab, Jab, Jab, Right Hook: How to Tell Your Story in a Noisy Social World by Gary Vaynerchuk
- Video: Social Media 2014
- Social Media Explained Through Donuts (Instagram Post by Doug Ray)
- The Art of Social Media by Guy Kawasaki
- Talk Like TED by Carmine Gallo
Megan Hjulfors is Investor Relations Advisor at ARC Resouces Ltd. in Calgary.