Social Media and Investor Relations
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A short presentation on how investor relations professionals can start using social media to save time and clarify their company messaging
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Social Media and Investor Relations
- 1. Social Media & Investor Relations NIRI: Boston Serena Ehrlich [email_address] @serena
- 5. Journalist Use of Social Media Source: 2nd Annual Middleberg/SNCR Survey of Media in the Wired World
- 6. Analysts Information Sources Source: Brunswick Group
- 9. Future Usage of SM by Analysts Source: Brunswick Group
Editor's Notes
- Interesting to note all the recent SEC discussions about changing the language level of company filings. They are realizing that the average consumer is unable to decipher typical legalese. I predict this will lead to even more pressure by the SEC for companies to start blogging, as a way to clarify their messages giving all audiences the ability to understand company news at the same time.
- In short? Social media is exactly the same thing you have been doing for years, just now online. There is nothing new to clarifying messages but instead of doing it on the phone or in meetings, you are making it public for everyone to read at the same time.
- Don’t jump into social media blindly. There are great consultants that can help you create a program and sell it internally to your management team. If you need support for SM, talk to your PR team. At the forefront of customer communications, PR teams are being pushed into social media at an unprecedented rate.
- Middleberg Commmunication’s recent survey shows that 70% of journalists are using social networks to assist in reporting, up 41% from last year. The survey also found that 69 percent of respondents go to company websites to assist in their reporting, while 66 percent use blogs, 51 percent use Wikipedia (wow), 48 percent go to online videos (double wow), and 47 percent use Twitter and other microblogging services (would have guessed higher on this one). And who uses what the journalists write? Analysts.
- As you can see, almost a third of the analysts surveyed by Brunswick are reading blogs and message boards on a regular basis.
- Seeking Alpha 4M unique users/month - 25% are institutional investors Stock Twits has around 85,000 users and adding 500 a day. Linked to whale wisdom (example of how much data is available online) – stocktwits now available through bloomberg as well. Wikinvest – part of a new wave of contributor driven communities. New data platform is very impressive
- Despite slow adoption rates of social media by analysts, almost all agree that new media will be increasingly important in business decisions
- ebay writes out all of their earning call tweets in advance and all is approved by legal before being “tweeted”. In addition, ebay tweets disclosure statements before the call.
- Everyone learns in one of three ways: Reading, doing or seeing/hearing. By providing your message in various formats, you can ensure greater understanding of your company and product.
- A great example of how Dell uses their department heads to discuss programs, products and corporate decisions. This insight allows analysts a better understanding of the company.
- At a minimum, you should be monitoring the social media discussions about your company online. Here are several free sites that you can search to see what the real world is saying about your company and products.
- Replying to rumors has always been a no-no for IROs. I am not suggesting that you reply to every single rumor on the market, but if you see a message you can clear up, or a rumor with the potential to affect your stock, consider writing a clarification message. For example: If the rumor is that your company is buying another, perhaps do a blog post on your company’s M&A policy. Of course, if your news or response will affect stock, be sure to disclosure it with a release or 8-K.
- Starting a program is easy. But start slow! Listen first. Find out what people are talking about and where. What questions are you seeing pop up regularly? Blog about them or add them into your site FAQs. One of the primary jobs of the IRO is to clarify the message to the financial community. If the same questions are coming up regularly then this has not been done.
- Everyone makes mistakes. Everyone gets attacked publicly. Before reacting, do a simple online assessment. Is the rumor on a site well trafficked by your analysts? Then make it a high priority. Is it on a small site, not relevant to your decision makers? Consider not responding (but continue to monitor it, just in case)….