8 Ways Your Social Media Company Is Robbing Your IR Department
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This article is a follow-up to one we did recently called “How NOT to do Social Media for Investor Relations“. We got an overwhelmingly positive response but also dozens of questions about how “Social Media” companies used underhanded techniques to effectively scam their clients. The results are inside; what we consider the top 8 Ways Your Social Media Company Is Robbing Your IR Dept. But since Social Media is fluid, we’ll probably have to do another update in a few months.
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8 Ways Your Social Media Company Is Robbing Your IR Department
- 1. 8 Ways Your Social Media Company Is Robbing Your IR Department
- 2. #1 – Buying Social Followers Do your suddenly have 7000 Facebook Fans? Is your company following > 500 people on Twitter? If so, there’s a chance you’ve been duped by your provider Check your followers to see if they in turn have followers
- 3. How To Buy Social Followers Companies like those listed below offer hundreds of Social Followers by managing fake profiles and then using them to “Like” or “Follow” your company buyilikes.com increaselikes.net socialbuzzer.net socialyup.com buyfacebooklikesfans.com
- 4. How To Spot Bought Followers Followers Vs Market Cap: Are you Socially-comparable to companies of the same size and value? Followers Vs Engagement: Are people actually talking to you? Following Vs Followers: Are you following > followers? Follower Growth: Do you get exactly the same number each week?
- 5. #2 – Faking Leads With Lists “Social Leads” are email contacts supposedly generated through your Social Media profiles These are people who are already following your company but have then submitted their email? Social Leads are contrary to the way that people use Social Media
- 6. How To Fake Social Leads Partner with a PR company that keeps email lists Tell your client you can deliver a set number of Social Leads each month (alarm bells!) Submit a monthly .csv file to your client Re-use this list with your other clients until someone starts to ask questions
- 7. How to Spot Fake Social Leads Often Rocketmail, Hushmail, Mail.com Take a few emails and try to find associated Social Media profiles on Twitter and LinkedIn Upload the .csv to Facebook and Google+, do the emails have profiles? Email open rates of < 50% when you send a newsletter
- 8. #3 – Commenting With Fake Profiles Buying followers doesn’t increase social engagement Fake profiles are easy to create and manage in Social Networks They give you the ability to falsify social conversations Comments and shares with fake profiles provide limited to no value
- 9. How to Manage Fake Social Profiles This is actually much more time consuming than simply buying followers or media views Create a profile Buy friends and followers for it Use this profile to comment on and re-share content from a client Tell the client people are talking to them
- 10. How To Spot Fake Profiles The fewer image galleries and photo albums, the more likely it’s fake Usually (though not always) a female They comment on your content but never re-share it They don’t have an employer listed No mention of a website or blog
- 11. #4 – Buying Media Views Inflated figures on how many times people have watched your company video on YouTube or Vimeo Suggests more engagement and reach than is actually occurring Promotes the idea of you buying MORE expensive corporate video services Very bad for branding if the video is not high quality
- 12. Hot To Buy Media Views The same companies that can provide faked followers provide this as a product. Several are shown below for reference: buyyoutubelikes.com youtubebuzz.com discountlikes.com social-fans.com webvideopromoters.com
- 13. How To Spot Bought Media Views This is the more difficult to asses than the other metrics mentioned here, but… Ratio of: Views to Shares / Embeds Ratio of: Views to Comments Views from outside your region Small number of commenters
- 14. #5 – Keeping Your Content You’ve paid for a corporate video or presentation, but instead of it being published to your company’s Social Media profile, your marketing company publishes it on their own This builds an audience for them using your content and marketing $$$ Their network is probably Social SPAM giving you no advantage in viewership
- 15. How They Keep Your Content By telling you that their network consists of hundreds of thousands of engaged investors which is where they publish it By not giving you access to the original .avi or .wmv files By adding their own branding to the start and end of your corporate video
- 16. #6 – Monitoring The Wrong Metrics The reason companies use the previous five techniques is that the metrics they track to justify their product can be inflated Metrics they probably use: Total Followers Social Leads Media Views
- 17. Monitoring The Right Metrics Followers, Views and Leads are easy to fake, while with interactions and analytics this is almost impossible Metrics to follow: Social to Web Conversions Engagement Website Leads Content re-shares
- 18. #7 – Not Giving You Detailed Reports Monthly reports should breakdown the raw data and provide insight into how and why they fit with the overall strategy Reports with just raw data are too easy to manipulate If you have to ask (or beg) for transparency in reporting, you should be worried about what you’re not being told
- 19. #8 – Keeping The Strategy The Same Do you see month-to-month changes in your Social Media strategy? The tendency is not to do this because it’s time-consuming Keeping the same strategy is cost- effective but won’t build engagement If your metrics (the wrong ones) are improving, it looks like there’s no need
- 20. Optimizing The Social Media Strategy Social Media if fluid As changes in networks, applications and use occur, your Social Media plan should be updated Your strategy must be optimized each month based on the metrics in your reports and the strategy goals Demand this!
- 21. Conclusion We hope that this sheds some light on the dark side of Social Media But also, we hope you're not discouraged to give it a go Many companies are doing a fantastic job of Social Media strategies for Investor Relations departments Always demand reports to protect yourself
- 22. More Info? To read the full blog visit: irsmartt.com/8-ways Or for more information about IR Smartt and our Social Media strategies for the Investor Relations industry, please contact us on: Website: irsmartt.com/contact Email: get@irsmartt.com