Small companies, big ideas

By Kristen Avery - Project Co-ordinator, Echo Research Inc.

In terms of social media, it's important to look at its impact or in some cases, its lack of impact. An interesting article appeared in the Wall Street Journal recently about the value of small companies' social media presence. Larry Chiagouris, a marketing professor at Pace University, states that "The hype right now exceeds the reality," in reference to social sites like Twitter and Facebook. If a company is putting time into maintaining a social media presence, is it not worth the risk and effort? According to the poll attached to the article, after 155 votes, about 65% believe marketing businesses through Twitter and Facebook works, while approximately 35% don't believe it works. Social media can be incredibly useful for a company to put themselves out there and engage with consumers. But at the same time, its presence can be lost in the deluge of social media participation. Companies must maintain a dynamic and interactive presence in order to make the most of their online experience.

Wall Street Journal article

The opinions and views expressed in this blog are the personal opinions of the writer and do not necessarily represent the views of Echo Research, its staff or any of its affiliates.

The Journey

This is not a GCC or Middle East challenge - it is the same gauntlet for professional communicators globally. It is a journey that is worth committing to, with expectations important to manage. Borrowing from Sir Winston Churchill, I am reminded of his apposite quote: "Every day you may make progress. Every step may be fruitful. Yet there will stretch out before you an ever-lengthening, ever-ascending, ever-improving path. You know you will never get to the end of the journey. But this, so far from discouraging, only adds to the joy and glory of the climb."

The opinions and views expressed in this blog are the personal opinions of the writer and do not necessarily represent the views of Echo Research, its staff or any of its affiliates.

Doomsday

By Sandra Macleod - CEO, Echo Research

Day two at the conference featured an Echo client relating the journey of communicators as similar to the Star Ship Enterprise - in search of Utopia. Challenging the audience to consider carefully if they knew what their role and value really was for their organisation, the speaker outlined several stop-off planets on the way to PR happiness.
Research and evaluation was called Planet Doomsday, with the assertion that (most) communicators and (most) providers do this badly and serve their organisations poorly as a result.

The opinions and views expressed in this blog are the personal opinions of the writer and do not necessarily represent the views of Echo Research, its staff or any of its affiliates.

Mixed results

By Sandra Macleod - CEO, Echo Research

Just back from Dubai hosting a full day workshop on research and evaluation.
Attendees had been promised another topic by the organisers but ended knowing more about the value and role of evidence in guiding senior management on the journey of reputation management than they had expected. When reputation, trust or confidence is based on performance less expectations (C=E-P), I knew that no matter how good the day was for them, their own expectations were elsewhere.

The opinions and views expressed in this blog are the personal opinions of the writer and do not necessarily represent the views of Echo Research, its staff or any of its affiliates.

Goldman Sachs moves reputational risk up the agenda

By Amy Wright - Financial & Professional Services Client Manager, Echo Research Ltd.

It has become increasingly difficult to read an article about Goldman Sachs without finding a reference to the now infamous Rolling Stone “vampire squid” article. But I found one in The Guardian this week which has been echoed in the US and elsewhere. It seems that the Goldman Sachs annual report has listed (for the first time) “negative publicity” as a risk factor in the organisation’s continued prosperity, although it also notes that it is “time consuming and expensive” to respond to criticism.

They have a point. With the volume of negative coverage directed at GS, I wonder whether it is possible for an organisation that is treated in some quarters as the source of all financial evil to respond adequately to such criticism. Recent attempts to engage the press (including the news that GS would be donating $500m to charity) have simply led to renewed levels of venom.

However, in the brave new world we live in, demands for transparency from high-profile companies mean that it is not possible to hide from the media and hope that they choose someone else to pick apart – at some point you have to recognise the howls of indignation and engage. So I’m not surprised that reputation has risen to the top of the agenda at GS, and I’m sure that the communications teams at the bank, which has traditionally let its phenomenal financial success do the talking, are working hard with the senior management to understand how and where change is required.

By reporting on negative external perceptions within its overall corporate risk assessment, an important first step has been made. It will be interesting to see if others follow suit, and indeed how robust reputational risk measurement systems are adopted and used to shape leadership behaviour and communications strategy.

Click here to view the Guardian article

The opinions and views expressed in this blog are the personal opinions of the writer and do not necessarily represent the views of Echo Research, its staff or any of its affiliates.