A conversation I had with an IRO emphasized why many investor relations departments are not (offically) using social media: the predatory nature of Wall Street.
His daa-DUM daa-DUM moment?
A Yahoo! stock chat group was talking about his personal Facebook post that he bought a new car. They were discussing whether it was an indication that his company had another product close to FDA approval.
To be straight, he was not being critical of Wall Street. He was being realistic to the nature of investors – they are always looking for an edge or a tidbit to confirm a buy or sell. What he was speaking to was his personal experience and the veracity of the internet trolls inherent within social media. It did clearly demonstrate the impact social media could have for IR.
But for now, for him and his company (ignoring any RegFD concerns), it brought to the surface the added work of social media… in this example, keeping up with privacy settings which change far too frequently for his liking. Initially, his IRO DNA was to be transparent throughout social media however, from this episode, he took his Facebook page down. It was safer than trying to manage it. He deemed it a simple risk v. reward exercise.
What to do next?
The conversation naturally evolved to our investor relations website product (the ever-awesome IR Room MST) and our recent “How-to Automatically and Hands-free Send News Over Social Media” white paper: a risk-free and hands-free roadmap.
Hmm. Maybe it is safe to go back into the water.
Have a great day.