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The new frontier of Social Media:

The new frontier of Social Media:. Session Chair: Rebecca Monforte, Cbus. Show of hands…. Session 6 Overview… or - what stands between you and networking drinks. Sharon Nelson, Spark Green Joel Clapham, Media Super Nicholas Pullen, HWL Ebsworth Lawyers Panel Q&A.

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The new frontier of Social Media:

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  1. The new frontier of Social Media: Session Chair: Rebecca Monforte, Cbus

  2. Show of hands…..

  3. Session 6 Overview…or - what stands between you and networking drinks • Sharon Nelson, Spark Green • Joel Clapham, Media Super • Nicholas Pullen, HWL Ebsworth Lawyers • Panel Q&A

  4. SOCIAL MEDIA & SUPERANNUATION…. • Perceived risks of social media at super funds • Mitigation and management strategies • Examples & takeaways

  5. What are the perceived risks? Negative feedback in public domain “It can’t be controlled” Trolls and ‘haters’ just ranting and raving Non-approved posts by fund staff. Now let’s debunk some of these…

  6. What’s old is new again! Negative feedback in public domain = so are conversations between friends and colleagues “It can’t be controlled” = Can we control the lunchroom, water cooler or BBQ discussions? Trolls and ‘haters’ just ranting and raving = Letters, emails, phone calls (and remember the spidery writing on faxes?!) Non-approved posts by fund staff = Do we monitor EVERY phone call & conversation in the field? Training, trust &spot audits are essential with social media too. Social media is an opportunity to have a conversation with people. They’re going to be talking anyway – what a gift we get to listen in and participate!

  7. Mitigation and management Develop a policy Produced by staff who will be managing, peer reviewed by colleagues, reviewed/approved by legal + compliance + HR, then Board. Set up monitoring tools (Meltwater, Radian6, standard searches & Google Alerts) Recognise the two functions of social media: listening and talking. Appoint staff to perform & manage both functions (can be same person/team). Talking: - staff prepare a content plan ahead of time, reviewed/approved before publishing - may establish rules such as pre-approved content is ok to broadcast without review - personality is critical to social credibility… don’t stifle this, or you’ll be ignored. Listening: treat it as customer service and use same protocols and processes.

  8. Example: Content plan

  9. Example: Negative becomes positive

  10. Key points Social media is an opportunity to listen and participate to conversations that are already happening Develop a policy, establish processes like any other correspondence & appoint key staff to manage function Personality is critical – foster it Twitter has 140 character limit: what better way to ensure communication is clear, concise and effective!

  11. Nicholas Pullen, HWL Ebsworth Lawyers Social Media: Seen through the eyes of a media lawyer

  12. Companies are publishers, and exposed to: Defamation ACL (misleading & deceptive conduct) Privacy & Confidentiality Injurious Falsehood Industry Codes If ASX listed – maintenance of disclosure requirements under Guidance Note 8

  13. Recent Cases Madden v Seafolly Pty Ltd [2014] FCA FC 30 Nextra Australia Pty Ltd v Fletcher [2014] FCA 399

  14. Management Strategies Outsource or in-house? All levels of senior management (including the Board) need to be tutored on the basics of social media Clear structure and plan in place that can deal with social media mishaps/crisis

  15. PANEL Q&A

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