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Concern about online risk management is a stumbling block for financial services organisations considering taking the social media plunge. And it seems they are not alone.
Fairfax reported over the weekend on a directive issued from the head office of the federal Liberal Party to select MPs urging them against using Twitter or tweeting on behalf of the LNP. The measure was intended to limit online ‘stuff-ups and scandals’ from Liberal MPs according to a Fairfax source.
It’s true that, like any form of public communication, social media does come with risks. And we’ve certainly seen enough stuff-ups on Twitter this year to know that the Liberal Party’s concern is not unfounded. Politicians, companies, celebrities and the average-Joe have all exhibited serious misjudgement on social sites in 2012. The social nature of networks like Facebook and Twitter means that messages, both positive and negative, can travel faster and further than ever before. Scary? Perhaps.
But is a ban really the way to go? I think not.
For politicians whose livelihood and success depends so heavily on communicating effectively with constituents, social media is a critical opportunity to speak directly to the electorate – without the media as middle man to interpret or editorialise their message. Look at Obama’s 2008 campaign , the first in history to use social media as a key campaign tool. Obama’s grassroots mobilisation centred on social media outreach. He was able to reach normally apathetic or apolitical voters through social networking sites and speak to them directly about the issues that mattered to them. As a result, when he arrived at the White House he was armed with a database of millions of supporters and the ability to engage them almost instantly.
Yes, back to that pesky risk issue – and what it means for your financial services organisation. It seems to me that the real issue here is how to properly equip your brand ‘ambassadors’ (or party ambassadors, as the case may be) to communicate and promote your message via social media. With the right preparation and policies, social media has the power to transform your communication strategy for the better.
So listen up, Tony – here’s my advice:
- Make sure your ambassadors understand your key messages. This goes for all forms of communication, whether via social media or not.
- Get yourself a social media policy – this should outline very clearly what topics and language are off-limits. Make sure your ambassadors understand the policy and how it applies to them.
- Get yourself and your ambassadors trained about how to harness each social media channel most effectively.
With these steps in place, the Liberal Party shouldn’t have to worry about a Twitter disaster. On the contrary, they’ll have a fantastic (and free!) communication tool to engage supporters and build their base at the most personal level. Really, the only thing to be scared of in social media is missing out.
To learn more about BlueChip’s social media offerings or to receive a copy of BlueChip’s online reputation risk checklist, please email social@bluechipcommunication.com.au.
