Old-School Press Release and Wire companies have been slow to pickup just about every technological innovation. While Social Media was flourishing in the last 2000s, they were still plugging away with Press Release distribution and email subscriber lists (and still are).
True to their name, the Vintage Filings division of PR Newswire have had one of the most mediocre adoption policies with respect to Social Media. A quick look at the @VFilingsLive Twitter account really tells the tale. Its Following-Followers ratio is over 2:1 and it hasn’t Tweeted @Anyone in…well….ever.
To their credit, they’ve now realized that ignoring the Social Media community is a mistake and are trying to correct this. But in doing so they’ve created a bundled package Capital Markets Visibility 365 that completely misses the point and provides very limited value to an Investor Relations department.
What Capital Markets Visibility 365 Promises
“We added outreach to institutional and retail social-media based investors through the inclusion of StockTwits Investor Relations Enterprise Program. This program provides our Capital Markets Visibility 365 clients amplified distribution to this growing base of investors.”
Sounds excellent. But minus the lingo, what does that mean? Will your company actually be in front of more eyeballs at earnings time as a result of using the Capital Markets Visibility 365 ir tool?
What Visibility 365 Gives You
1. “Verified, official presence on StockTwits and the StockTwits distribution network.”
Yes, but you can create a verified, official presence on StockTwits in about 45 seconds by visiting their website at StockTwits.com and signing up using a company email address. The distribution network? Again, that’s StockTwits’ network. Nothing new here.
2. “Monitoring and analytic tools, including weekly email summaries and email alerts on social activity.”
Let’s ignore the fact that you probably want more than one “analytic” in your reporting. These weekly email summaries and email alerts are auto-generated by the StockTwits software. The platform has a whole host of other functions, email summaries are not even close to the coolest feature of StockTwits. But even if they were, alerts on what? Without a strategy for engaging with the StockTwits community, there’s still no added value here.
3. “Social compliance features to address the most common concerns about communicating via social media.”
These Social Compliance issues are all addressed by the StockTwits platform and explained in detail on their Compliance Page. But far from having a monopoly on Social Compliance, StockTwits builds upon many of the same functions that Social Networks already employ. Facebook, Twitter, MailChimp, LinkedIn, Vimeo, YouTube, Slideshare and many more all have the ability to link accounts to one another. StockTwits provides simultaneous publishing, but they’re not the only ones and this Social Compliance capability is easily and readily replicable.
4. “Ability to reach millions of investors, analysts and media on StockTwits.com and through the distribution of your official messages to the StockTwits network of financial media partners.”
You already have this ability. The network of StockTwits financial media partners is a replication of everything you’ll find in various other Social Networks. Suggesting that StockTwits is the only place to find these people is misleading especially because linking to other social networks is virtually mandatory in order to establish engagement.
What Visibility 365 Doesn’t Give
Effective Global Branding
Stakeholders in your company and potential shareholders are all over the web. The StockTwits enterprise platform is actually a wonderful product, but having a StockTwits account won’t give your company a complete social media presence. Global Branding of dozens of social networks including the ones listed below is a signature of our Infrastructure Development service. While StockTwits will help you build a network within their platform, it won’t allow you to create and nurture your own network of followers. That’s where these other networks come in. Ignoring them in favor of CMV365 limits your company to the users of StockTwits exclusively and dramatically reduces your ability to generate engagement.
- Facebook Pages
- Facebook Profiles
- Google+ Pages
- Google+ Profiles
- Google Places
- Yahoo Finance
- Google Finance
Who is talking about your company in Social Media? What content is being published about it online? Where is public sentiment surrounding your company? Sadly, CMV365 won’t give you this kind of Business Intelligence information. To get it, the entire web needs to be monitored in real time for keywords surrounding your organization and industry. Armed with this data, you’ll be informed about the landscape and able to enter and create conversations in multiple networks, not just StockTwits.
Developing and sharing clever, informative content is one of the best ways to foster an engaged social media following. While CMV365 will give you the ability to publish content and the reach to do so, it doesn’t provide your team with skills and training to develop the most effective content possible. A combination of the following content types and the training to create them in-house is a central focus of our content creation service:
- News Releases
- Corporate Videos
- Management Updates
Training With Social Media Tools
One of the problems with software platforms like CMV365 is that you pay for a membership and then you’re effectively left to your own devices. The difficulty with this is that it’s hard to be effective in your communication without some oversight and strategy behind it. We develop a detailed social engagement strategy and then collaborate with a member of your company in real-time via Hootsuite and Basecamp to develop and then execute that strategy. We assist with discovery and dissemination and ensure that your company fully aware of questions and comments as they occur.
- 1-on-1 Virtual Sessions
- Real-time Collaboration
Social Engagement Reporting
While StockTwits does an excellent job of reporting the reach of an individual message posted by your company, this information is not granular enough to be effective for campaign optimization. Reports should include a detailed analysis of Reach, Web Conversions from Social Media, Media Views and Total Following. Our industry-leading ir reporting formats provide the most complete view of a company’s online presence. We provide feedback on search results, branding, forums and many more places your company could be mentioned online. In particular:
- Detailed Cross-Network Analytics
- Sentiment Monitoring
It’s good to see that companies like PR Newswire appreciate that Social Media is valuable, especially for emerging and Junior companies. But to suggest that Capitals Markets Visibility 365 gives your company an effective global reach across the web is very misleading.