People are talking about your company on Twitter. Do you know what they’re saying about you? Are you listening to the conversation? Whether or not you’re using social media, the investment community will continue to talk about your company, it’s unavoidable.
So, why don’t all IROs use Twitter?
Time. It’s a legitimate concern for IROs and CEOs when determining whether to use social media in their marketing strategy. Yes, social media is free, but if you don’t have the time to monitor your social media profiles and actively engage your followers, then it may not be the right strategy for your company.
As I said in my last blog post, “It’s always better to be a more active contributor on fewer social media networks, than a passive and less engaging contributor on more social media networks”. If you’re a small cap company with a limited marketing budget, time is a valuable commodity and you may not see the ROI of social media.
I don’t want to use Twitter.
That’s ok, not everybody has the time to run an effective social media marketing campaign. If this is your reality, then here is one simple thing that you can do using free social media tools:
What is Hootsuite? It’s a social media dashboard that will help you and your company manage, measure and monitor your social networks. More importantly, it will allow you to monitor what’s being said about your company on Twitter. In short, it’s a way to eavesdrop on Twitter conversations about your company and industry.
And no, we don’t sell Hootsuite or have a partnership with them; I just think they have a great product that could help a lot of IROs & CEOs.
*Note: In order to use Hootsuite, you will need a Twitter handle, but it doesn’t need to be an account for your company. Consider creating a personal account which can remain inactive and isn’t associated with your company.
As a public company, how can Hootsuite help you?
- Find out what people are saying about your company on Twitter. You can track the use of your company name or your ticker.
- Keep an eye on what your competitors are doing.
- Keep up to date with sector information and trends.
- Get all of your news in one place. No more checking multiple websites or apps.
- Do all of this within 5 minutes. The dashboard is simple, easy to use and allows for scanning.
- Doesn’t cost you anything, it’s a free tool. (There’s also a paid version if you want all of the bells and whistles, which is $8.99/month. I’ve used both and I find that the free version is sufficient.)
Hootsuite is the perfect tool for IROs or CEOs who want to dip their toes into Twitter and just listen to the online conversation about your company and industry.
Stay tune for next week’s post, which will give you a practical guide to setting up your Hootsuite account and a way to maximize your time.
Social Media Matters. Weekly social media tips, trends and updates for publically listed companies. Learn more about using Twitter, LinkedIn, YouTube and other social tools on the web.