dna13

Business today is increasingly global and intensely competitive. A large factor in this is today’s new, more dynamic and aggressive communications environment that continues to grow and change under this social media avalanche. All media are now global, and information travels around the world instantaneously. Situations change with remarkable speed, and if not monitored closely, can quickly become out of control.

Due to the speed of media and communications technologies, an organization’s shareholders have never before been better informed. With instant access to thousands of opinions, facts and figures, they are becoming increasingly demanding in their expectations of public companies and their leaders. To quote List from MediaShop Public Relations ““Keeping investors informed, even when the news is bad, is vital to maintaining trust.”

Abraham Lincoln once said, “Public sentiment is everything.  With public sentiment, nothing can fail; without it, nothing can succeed.”  Consider how true this is today. Web 2.0 technologies allow opinions to be expressed freely, and distributed and replicated instantly. The voice of public sentiment is louder than ever, and cannot be ignored.

Success in public relations and investor relations can no longer be measured simply by “column inches,” or the number of sell-side analyst “buy” recommendations – if it ever could.  Public relations and investor relations teams are often doing their best work when they keep a company’s name out of the media or securities analyst’s research note.

It was Mark Twain who once said, “Never pick a fight with a man who buys his ink by the barrel.”  This advice – updated for today’s media environment – is more applicable than ever:

“Never pick a fight with a person who has no need of ink.”

Online technologies, like the dna13 PR software application, help to level the playing field in media, and cannot be overlooked when the opinion of the public and key stakeholders are worth so much.

The rise of global equity markets, the demand for corporate transparency, strong corporate governance, accountability, and full and fair disclosure, in combination with the constant pressure to enhance shareholder value, the increase in shareholder activism, and a more rigorous regulatory involvement, all result in much greater pressures being placed on investor relations departments.

Communications is a demanding environment for investor relations, but if managed properly, can be the key to great success.

I have been on the road a bit with meetings including: SNCR New Comm Forum, Inbound Marketing Summit, the Defense Department’s World Wide Public Affairs Summit,  Media Relations 2009, Institute for PR,  PR NEWS, Marketing Profs B2B and most recently the first ever Berlin Measurement Summit in Berlin Germany. Every where I  go I see the usual round of vendors dutifully standing at their booths, demoing their product offerings and doing what vendors have done at trade shows for millennia, hope that someone that puts that business card in the drawing for the free iPhone might actually buy something.

And the reality is that most of them in an industry that has one foot in the grave, while the other foot is trying balance on the back of the traditional main-stream media business – which is a little like clinging to a piano when you’re trying to survive the Titanic.

There are exceptions — firms that have left the graveyard and the sinking ships behind and instead are focusing on communications equivalent of the Segway offering products that redefine the industry. Some like Radian6, improve their product with every trade show. Others like dna13 are rethinking our entire business – offering an integrated, reputation management process – really a CRM application for marketing and PR.

I seldom endorse products, but I’m not averse to calling attention to ones that I think can make a difference in the business and I think the dna13 platform, with new dashboards and global roll-up reporting capabilities is one of those. It approaches our business as a business.

At KD Paine & Partners, everything we do is measured against some very clear objectives. And for everything we do, we consider if it contributes to those goals, specifically:

1. Efficiency
2. Accuracy
3. Value
4. Profitability
5. Delighting the Customer

Our clients have similar goals and metrics, that’s why they hire us. What’s astounding is how few PR departments are as clear on their goals, and to the point – have no tools in place to measure their progress. dna13 at least is providing that much needed tool. .

Katie Paine
Berlin, New Hampshire, USA
kdpaine@kdpaine.com
http://kdpaine.blogs.com/ 

Jeff Jarvis wrote another prophetic blog post yesterday on the Buzz Machine about the evolution of news writing and the collaborative news process.  This time, specifically in response to the New York Times’ latest article that blames tech blogs for breaking stories early and spreading rumors without confirming sources or facts.

Jarvis proves that corporations can address crises, much more easily than in print media – all they have to do is quickly insert themselves into the online conversation.

In the original New York Times article, Damon Darlin wrote of two recent stories that broke online and then were quickly debunked:
“Neither story was true. Not that it mattered to the authors of the posts. They suspected the rumor was groundless when they wrote the items…”

Jarvis responded that the new news process confirms facts with their audiences instead of broadcasting them as true, and reintroduced the new news process.  I believe this chart should be displayed on the side of any public relations or corporate communications professional’s cubicle:

As Jarvis explains:

“It’s a matter of timing, of the order of things, of the process of journalism. Newspaper people see their articles as finished products of their work. Bloggers see their posts as part of the process of learning.”

So what does this disparity in news reporting mean to the future of public relations?  That engaging and defending a corporate reputation doesn’t have to be as difficult as it appears.  As long as companies successfully track their reputations online and know how to respond immediately, it’s much easier to clarify the initial blog post than if something untrue or misleading were written in print.  Corporations can have an overwhelming part of the online conversation as long as they know what is being said about them in real time.

I spent this past Wednesday at the PR News Measurement Conference in Washington DC. The event was held at the National Press Club, an historical building where many US Presidents have frequented and discussed politics with journalists and stakeholders over the years.

What was discussed in great deal was both social media (surprise, surprise) and to my great pleasure alignment. Finally - a common theme is starting to emerge. One that touches on aligning PR with other organizational stakeholders. Today, new media is forcing today’s corporations to re-think the way they manage PR and Corporate Affairs.

So how do we align the organization to be more effective and accountable? We do this by integrating PR and Corporate affairs with the extended organization. Give those outside PR the ability to monitor traditional and social media - in particular what they care about! For example, provide HR with the ability to monitor employee blogs and general HR related media. In addition to media, provide HR with the ability to view and collaborate (with PR) on the issues and projects that affect them. Give the extended organization the ability to listen and engage with media on issues that they are PASSIONATE about.

So who else in the organizations should “get aligned”? IR and Finance, Legal and Lines of Business (Think Brand Managers) to name a few. The botton line here is that PR can’t monitor and manage the corporate brand anymore — at least not alone. PR needs to share the load across departments, disciplines and geographies. Also, the old days of managing a brand from within corporate walls are over. Your brand and reputation now “lives” in the hands of millions of bloggers, Twitter, Facebook and YouTube users - and of course whatever new media application comes out next.

How do you align the organization? Do your research - the world has changed; invest in the time to find out how you can be a catalyst for change in your organization. Your brand is out their being talked about right now - think long (but not too long) and hard about how you’re going to address this challenge.

Last week I attended the Reputation Institutes‘ 13th International Conference on Corporate Reputation, Brand, Identity and Competitiveness in Amsterdam. Not surprisingly, much of the discussion touched on brand reputation in today’s electronic and PR 2.0 world of blogs, Twitter, forums, etc.

Both academic institutions and business participated in a rich program spanning several topics. Whether the topic was corporate social responsibility, managing stakeholder expectations, media impact on corporate reputation or innovation and reputation – a common theme emerged in most, if not all conversations -

“brand control has officially moved from within the walls of corporations into the social media world.”

In my conversations, I often referenced “citizen soldiers” – the people (your stakeholders!) talking and influencing others about your brand in a highly viral and collaborative world.

The “mental transition” of both large corporations and esteemed educational institutions over the last 12 months has been significant with regards to the impact on brand reputation as a result of social media. Corporate brand reputation should continue to be the main focal point of research and innovation in the reputation management discipline – however, taking seriously the effects of social media on the brand is very much in the cross-hairs of many of the leading thinkers that focus on brand reputation management. I’m pleased to see the industry is recognizing the impact of the changing landscape and we are now seeing social media in the vernacular of many forward looking research.

Let me begin by introducing myself. My name is John Lawlor, and after having recently retired as Vice President, Investor Relations at Cognos Inc, now IBM. I am proud to now be the new VP Corporate Communications here at dna13.

So, after a 30-year career in Investor Relations and Corporate Communications, what brings me to dna13?

Well, it was a recent “aha!” moment that I had, upon first seeing the dna13 product in action. It was then that I realized the potential for reputation management software solutions within the field of Investor Relations. My exact reaction was “this is exactly what I’ve been looking for in my career as a communications professional for the past 30 years!”

Collaborative teamwork contributes to enhanced performance at all times, and it is particularly important in issue and crisis management situations, when communications professionals are working under severe stress and time pressures. This is exactly what IR departments are looking for: a way to align team members and messaging, to protect shareholder value.

Investor Relations departments need a way to manage crisis before it begins. How many times have you or your CEO taken that telephone call from a reporter, analyst, or shareholder, surprising you with sensitive and difficult questions about a lurking issue or crisis? It is time for Investor Relations departments to adopt the appropriate technologies to protect themselves from attack; a type of “anti-ambush” protection if you will.

IR professionals innately understand the value of a company’s global brand and reputation.  Your yardstick is market capitalization and the Street’s measurement is breathtakingly immediate. IR professionals have experienced first-hand the challenge and stress of managing sensitive issues to prevent them from boiling over into a crisis, imperiling your company’s brand, reputation, and market value.

I am excited for the future here at dna13, and look forward to seeing reputation management software in action, to help align and engage Investor Relations departments with the rest of the corporate communications team.

Today dna13 released an exciting new white-paper focused on the social media experience and applied work of several fortune 1000 companies. I think it’s important to demonstrate; particularly to large organizations, the work of these early adopters. Large companies tend to adopt new technologies with some trepidation, as it can be a potential risk to brand, corporate reputation or even personal risk. The work in this new white-paper is focused on distilling key tactical and strategic approaches demonstrated by companies such as Dell, Domino’s, Hyundai, Red Cross and Coca-Cola to name a few. As a community we need to embrace the work of these companies who are trailblazers for the rest of us! If you are a large organization, with an established and valuable brand, you would be remiss by not harnessing the power of social media. We are in an age of real-time reputation management and today’s brands can’t afford not to listen and engage with this burgeoning and massive new stakeholder group. Tim McIntyre of Domino’s knows first hand how a simple YouTube video posted on Easter Sunday can wreak havoc on a global brand. Go ahead, be a trailblazer - engage in social media to help protect and build your brand reputation — it really is your most important asset.

Cari Tuna of the Wall Street Journal addressed some intriguing points in her Wall Street Journal article April 26, “Corporate Blogs and ‘Tweets’ Must Keep SEC in Mind”, where she discusses recent cases where the SEC has required corporate thought leaders temper their social media outreach with regulatory disclaimers.

Clearly, the most attractive quality to a corporate blog or Twitter account is the human voice behind it.  As Tuna notes: “Blogs and tweets can run afoul of Securities and Exchange Commission regulations on corporate communications.  But sanitizing such posts risks hurting credibility with online audiences.”

Social media is immediate and responsive – that’s what makes it an effective messaging tool. The best social media teams will work using the same messaging documents, but cannot afford to lose time waiting for content approval.  Inevitably, this requires a greater trust in social media facilitators and corporate thought leaders.

CEO’s and other industry leaders who use social media to create authentic relationships with consumers or followers should follow the same rules that they would with any microphone or bullhorn:

1. Is this point interesting to other people?
2. Is this a comment I wouldn’t want my CFO/the Wall Street Journal/my mother to overhear?
3. Are there any bridges I could be burning with this comment? And, unfortunately…
4. Could I get sued for what I say here today?

Truly, the philosophies, predictions, and insights of eBay’s official blogger Richard Brewer-Hay are more interesting than Ebay’s quarterly earnings anyway.  Meeting him onsite yesterday at the Inbound Marketing Summit was an added bonus. Social media is a place for conversations, and it is possible to take the risk and remove content approval from the social media space without simultaneously asking for a lawsuit or a call from the SEC.

Bertrand Duperrin from BlueKiwi argues in his latest article “Enterprise 2.0 (finally) moves toward Enterprise” that enterprise platforms should go “back to basics” when it comes to technology.  According to Bertrand, the simplest models are the ones that are typically also the most effective:

“An interesting and salutary move is being initiated in the small world of both web and enterprise 2.0. It’s about what I would call a “de-technologization” of the concept and, according to me, will take back enterprise 2.0 to a ground it should not have left: the enterprise as a productive organization that must deal with internal rules and constraints.”

Bertrand’s points indicate a great positive trend.  An enterprise platform should cater to the needs of every person who uses it – from the Corporate Communications user who uses one to monitor for their campaigns, to the Investor Relations user who logs on to check the status of emerging corporate issues, prior to issuing earnings releases.  It’s exciting to see enterprise platforms becoming more intuitive for the average user.

Gil Yehuda covers similar points in his Enterprise 2.0 blog – particularly in his discussion of the “long neck” syndrome many find in web enterprise technology.

We particularly enjoy his discussion of social media and enterprise platforms here – including a great description of dna13 and what we do to simplify platforms for all users within the enterprise.  Enterprise platforms are a place where clarity is key – no one should lose themselves in a system designed to keep everyone moving towards the same goals.

CNN reported Monday that while only about seven percent of people older than 65 have online social-networking profiles, Facebook’s popularity is growing most quickly among women older than 55. Facebook has become the first social networking site that effectively reaches out to the senior citizens.

Simultaneously, Denise Shiffman wrote an excellent tutorial on corporate social media engagement and the importance of a steady plan for companies to launch a social media campaign. She uses Nutella, Coke, and Wal-Mart as examples of companies that have successfully leveraged social media to create relationships with customers, particularly on the popular social networking site Facebook.

Coke and Nutella have attracted over three million fans to their Facebook pages alone. With the right strategies and tactics deployed, social media can be used to change a company’s competitive landscape. But that only happens when a company understands that social media is more than a set of tools and tactics. It is a set of behaviors and approaches to communicating, interacting and engaging your customers.

Shiffman also touches on an interesting point - how does Facebook fit into customer and public relations for most companies?

What we’ve seen is that a company can create a community of loyal customers through sites like Facebook, but the company must cater to the needs of consumers:

• Companies must be willing to reward loyal customers with real, tangible rewards and news that would affect their buying habits.
• Companies must be willing to act upon the outcome of the conversations, for there is a significant possibility of unwarranted or irrational negative comments.
• Companies must be willing to step beyond their level of comfort. This is not the space for B2B interactions. Companies must take risks through humor and illustrate the humanity of their business through the community they create on Facebook.

As Shiffman suggests, it is possible for corporations to get involved in the social networking space, but it needs to be deliberate and community-based. Once companies leverage Facebook, they need to be a listening ear to their consumers, not just a selling agent.