As we discussed on our webcast two weeks ago, the Wells Notice the SEC “offered” to Netflix has certainly made investor relations departments’ (and their corporate counsel sitting in the neighboring office) strategically rethink social media as a shareholder communications vehicle.
This seems like a fine opportunity to have a nuts-and-bolts refresh on how IR can get involved with social media, specifically Twitter and StockTwits. Yes, they are different.
First, let’s see if people are talking about your company in StockTwits. Have you done that before?
- Go to Yahoo! Finance > http://finance.yahoo.com/
- Search your ticker
- Click on “Market Pulse.”
At this point (image below), you’ll see all the discussions about your stock currently on StockTwits. Your company is filtered by your “cashtag” – aka $TICK. Like a #hashtag, the dollar sign is a search text identifier. It says “this is a stock ticker and this tweet is about the company referred to.”
Now, perform this same exercise from a Twitter account, except search with your cashtagged ticker. If you don’t have an account, go ask PR or marketing. They’ll have one.
What do you see? Are there many “tweets?” What are the dates? Who is tweeting? What are they saying?
That’s it for now, tactically speaking. We are not going to discuss whether you should be on Twiiter. There’s no missing the boat or social media bandwagons to hop on here today. The strategy part is up to the IRO.
I did mention that StockTwits and Twitter are different. Keep this is mind as you review your cashtag streams.
Think of StockTwits as a monitored sub-culture of stock-nerds from Twitter. Why many believe this is better is 1.) members on StockTwits have identified themselves as “market participants” and 2.) StockTwits automatically filters out pennystocks from the discussion stream. This creates an environment that is pump-and-dump free and assures all people are “real.” Twitter is wide open and fraught with faux investor accounts. However, if you are going to review your cashtag chatter, both need to be viewed.
At this point, it is time to insert a commercial message. Our IR websites, PR websites solutions and news distribution are all integrated with StockTwits and Twitter. We also have advanced social media monitoring tools and I make a mean macaroni and cheese from scratch.
Have a great day.