Using Social Media to Protect Your Reputation
Reputation management through social media is a hot topic right now. In fact, digital crisis communications was the topic of one of the best panels I saw at Blogworld Expo last week (more on that panel soon).
Rather than a typical interview format, Andrew and Robert threw me into a scenario:
A Canadian-based financial services company has launched a campaign that renews one of its seasonal consumer-based investment products (e.g. RRSPs). They have spent their resources on traditional media (including television, radio, direct mail, in-branch literature and outbound telemarketing) as well as leveraged their permission-based email program, search engine marketing and ad-buys on some well-known consumer sites (e.g. national and local newspapers as well as investment sites).
Everything seems to be going on as expected but, then they get thrown a curve ball: Four days ago their call centre started receiving a dramatic increase in calls revealing that a message is floating across Facebook that their investment product is somehow unreliable. At the same time, one of the SVPs has just seen that a local financial community influencer with nearly 10,000 loyal Twitter followers has just posted a message slamming the product. Finally, the spill-over is having an impact on in-branch conversations with consumers as well as in the B2B areas of the bank.
They then posed seven questions to me:
- What are the most immediate actions that you would advise the company to take?
- What is the best way to evaluate the damage done to the reputation of the brand and its product?
- What can the company do to make sure that there is little spill-over into other areas of the its business?
- What are the measures of success that you would recommend to demonstrate success?
- What kind of timetable is required to execute the key recommendations?
- In what areas are the major hard dollar costs associated with the key recommendations?
- What are the most common knee-jerk reaction activities that the company should avoid taking?
Check out the interview above, or over at BusinessCast.
Let me know what you think of my responses!