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Social Media: Corporate Reputation at Risk

Film 240 - Alex Schaerer

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Social Media: Corporate Reputation at Risk

  1. 1. Corporate Reputation at Risk Social Media Created by: Alex Schaerer
  2. 2. “As people spend more time on the Internet, managing reputationon social media becomes increasingly important for public relations” – Nielsen1
  3. 3. 2.34B 1.87B 319M Social Network Users Worldwide2 Active Facebook Users Worldwide2 Active Twitter Monthly Users2
  4. 4. Online, these factors experience a new level of scrutiny: not only do users expect organizations to communicate honestly and openly, but they have the means to search and uncover facts that organizations would prefer to hide.3
  5. 5. The latest figures show that Internet users spend most of their time on social networks, and half of all social media users said that at least once a month they had expressed complaints or concerns about brands or services on social media.3
  6. 6. 1. Damage to brand reputation 2. Disclosure of proprietary and/or confidential information 3. Corporate identity theft 4. Legal, regulatory and compliance violations4 4 Corporate Risks Associated with Social Media4
  7. 7. Nearly three-quarters (71%) of executives surveyed were concerned about the potential risks involved in the use of social media, but they believe the risks can be mitigated or avoided.4
  8. 8. Having a very clear public relations strategy around socia l media communication is mission critical. The velocity and the visibility of social media communications is not to be underestimated.5
  9. 9. 3 Ways the Web Has Changed the Business World6 1. The declining effects of traditional marketing 2. Decreasing customer trust 3. Increasing customer power due to more alternatives, more information and more transactions
  10. 10. Social media has changed the way people communicate in terms of pace and reach of communication, therefore content on social media can turn into a threat and the threat can turn into a rapid communication crisis. The prevailing dilemma organizations are facing is that while they recognize the importance of social media interaction, they tend to lack corporate capabilities to manage crisis communication effectively.6
  11. 11. Users of social media applications produce mostly unverified information, which tend to be both, true and false. The information created and shared by users could differ significantly from what organizations publicly disclose.6
  12. 12. ”When marketers are not transparent and consumers discover the secret source for themselves, they can become quite unhappy with the message and/or the media. By not having transparent marketing, corporate reputation in turn becomes flawed as the consumer no longer trusts the company.” 7
  13. 13. Of the general public indicated they proactively seek information about the companies they do business with 72%Opinion Elites investigate corporate behavior before buying 53% Consumers are doing their homework8
  14. 14. So… what can companies do? Follow the 6 Steps for Protecting Corporate Reputation in the Social Media Age9
  15. 15. 1. Don’t Pretend a Crisis Is Not Happening Respond right away. It is no longer acceptable to wait hours or days to respond back via social media. Time is of the essence, therefore a well crafted response is crucial to employ as soon as the crisis begins.9
  16. 16. 2. Don’t Make an Empty Gesture Do not feed the public an apology or explanation that has no merit. Social media users capitalize on these responses and will eat a company alive.9
  17. 17. 3. Don’t Refuse to Backtrack “Social media should be used as a tool for honest communication. Admit your mistake, and speak directly to your customers about how you'll be going back to fix things.”9
  18. 18. 4. Develop Channels of Communication Ensure that corporate channels such as Facebook, Twitter, Blog, Instagram etc. are strong and have a presence that will reach the consumers.9
  19. 19. 5. Establish a Crisis Communications Response Team Companies must drive the messaging and response. Use listening platforms, monitor sentiment, and establish a dedicated team to inform and advise internal and external stakeholders of issues and responses.9
  20. 20. 6. Become Influential and Change Perceptions If the company does not become influential they become irrelevant Use these channels to focus the conversation around your brand so that when a crisis does arise, you have more control over the perception.9
  21. 21. Protecting your company’s reputation is an ongoing business process.
  22. 22. Research References • 1. Nielsen. (2012). State of the Media: Social Media Report 2012. USA: Nielsen. Retrieved from http://blog.nielsen.com/nielsenwire/social/2012/ Phillips, D., & Young, P. (2009). Online public relations: A practical guide to developing an online strategy in the world of social media. Philadelphia: Kogan Page Ltd. • 2. "Topic: Social Media Statistics." Www.statista.com. May 12, 2016. Accessed March 05, 2017. https://www.statista.com/topics/1164/social-networks/. • 3. Ott, Larissa, and Petra Theunissen. "Reputations at risk: Engagement during social media crises." Public Relations Review 41, no. 1 (2015): 97-102. doi:10.1016/j.pubrev.2014.10.015. (Course source) • 4. Grant Thorton. "Social media risks and rewards." September 2013. Accessed March 5, 2017. https://www.grantthornton.com/~/media/content-page-files/%20advisory/pdfs/2013/ADV-social-media- survey.ashx. • 5. Video "FILM240 Module 02 Lecture 02 Part 02" from Sidneyeve Matrix via Vimeo (Course Source) • 6. Hövener, Michael. "Corporate Reputational Risk Management: The Power of Social Media." Accessed March 5, 2017. http://essay.utwente.nl/68528/1/hovener_BA_IBA.pdf. • 7. Colin Campbell, Lawrence J. Marks, Good native advertising isn’t a secret, Business Horizons, Volume 58, Issue 6, November–December 2015, Pages 599-606, ISSN 0007-6813, http://dx.doi.org/10.1016/j.bushor.2015.06.003. (http://www.sciencedirect.com/science/article/pii/S0007681315000841) (Course Source) • 8. The Harris Poll. "The Harris Poll Releases Annual Reputation Rankings For The 100 Most Visible Companies In The U.S." Business. Accessed March 05, 2017. http://www.theharrispoll.com/business/Reputation-Rankings-Most-Visible-Companies.html. • 9. Revis, Layla. "6 Steps for Protecting Corporate Reputation in the Social Media Age." Mashable. January 02, 2012. Accessed March 05, 2017. http://mashable.com/2012/01/02/corporate-reputation-social- media/#8jqXc6x5Uiqw.
  23. 23. Slide Image Backgrounds Slide 1 Source: Kaboompics, “Macbook Pro iPhone 6 on old wooden pier,” http://kaboompics.com/one_foto/1568 Slide 2 Source: Kaboompics, “Woman talking on iphone6,” http://kaboompics.com/one_foto/1201/woman-talking-on-iphone-6 Slide 3 Source: kaboompics, “Top view of office desk table with open spiral notebook, pencil, iPhone 6, and black keyboard 3,” http://kaboompics.com/one_foto/1629 Slide 4 Source: Kaboompics, “Apple iPhone 6 Plus, Macbook and Writting Pad on the wooden desk,” http://kaboompics.com/search/smartphone Slide 5 Source: kaboompics, “Smartphone Acer Jade S in the hands of a man on a background of yellow flowers,” http://kaboompics.com/one_foto/1000 Slide 6 Source: kaboompics, “Conference table with chairs. View from above,” http://kaboompics.com/one_foto/869 Slide 7S ource: kaboompics, “Skyscraper with windows,” http://kaboompics.com/one_foto/1525 Slide 8 Source: Picjumbo, “Business Woman Working on Laptop in Her Office,” by Victor Hanacek Slide 9 Source: Picjumbo, ”Man working on website layout,” by Victor Hanacek Slide 10 Source: Picjumbo, “Facebook App Login Splash Screen on iPhone,” by Victor Hanacek Slide 11 Source: Picjumbo, “Snapchat App SnapcodeGhost Logo on iPhone,” by Victor Hanacek Slide 12 Source: kaboompics, “Wooden desk with Apple iMac, OréeKeyboard and Touchslabon it,” http://kaboompics.com/one_foto/1509/wooden-desk-with-apple-imac-or%C3%A9e-keyboard-and-touchslab-on-it Slide 13 Source: kaboompics, “Iphone6 plus in woman's hand,” http://kaboompics.com/one_foto/1093 Slide 14 Source: Picjumbo, “Man Talking About Architecture Ideas,” by Victor Hanacek Slide 15 Source: Picjumbo, “Colored Pencils For Kids,” by Victor Hanacek Slide 16 Source: Picjumbo, “Extremely Minimalistic Office Workspace Laptop Setup,” by Victor Hanacek Slide 17 Source: Picjumbo, “Sunset Home Office Working with Laptop on the Garden,” by Victor Hanacek Slide 18 Source: Picjumbo, “Man Browsing on his iPhone,” by Victor Hanacek Slide 19 Source: Picjumbo, “Escape Key Laptop Keyboard Close Up,” by Victor Hanacek Slide 20 Source: Picjumbo, “Road Under Power Line Electricity Pylons,” by Victor Hanacek Slide 21. Source: Picjumbo, “Business Man and Woman Handshake in Work Office Free Stock Photo,” by Viktor Hanacek Slide 22 Source: Picjumbo, “Wooden Lines Modern Interior Design Pattern,” by Victor Hanacek Slide 23 Source: Picjumbo, “Wooden Lines Modern Interior Design Pattern,” by Victor Hanacek

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