Alone we can do so little; together we can do so much!
Join us for The Four Hats of The Social CMO webinar for a unique look at four roles emerging marketing leaders can embrace as they evolve to become Social CMOs!
As with any new disruptive technology, social networking usage in enterprise business is still in its’ infancy with marketers in a preferred position to gain advantage. CMO’s can benefit from being first movers in introducing and adopting social networking technologies to become social leaders within their organizations.
Financial Services National Regulatory Authority (FINRA), “the largest independent regulator for all securities firms doing business in the United States,” issued Regulatory Notice 10-06, a set of ten social media guidelines for financial firms and their registered representatives, in Question and Answer form, recognizing that “Americans are increasingly using social media.”
In 2010, facing the biggest public relations crisis in recent history, oil company BP turned to the one medium that could instantly address public concern: social media. Nearly six months after the Gulf of Mexico oil spill occurred, BP has nearly 48,000 Facebook fans, over 19,000 Twitter followers and more than three million YouTube channel views.
Social media updates describe cleanup efforts, research projects targeting impacts of the oil spill and calls for volunteers.
While the success of BP’s social media efforts is debatable, few people can argue the need to monitor and address online comments and feedback. As BP has shown, the biggest change may be the new challenges in reputation management. With these challenges also come new opportunities – opportunities to mitigate bad press, connect with customers and reach potential influencers in the media.
New Threats, New Opportunities
Reputation management isn’t just necessary for big corporations. Small businesses also benefit from monitoring social media chatter, whether or not they have social media profiles. Simple searches on Facebook and Twitter reveal valuable information about customer satisfaction, competitor weaknesses and new market opportunities.