Digital Influence Weekly – Taking Stock of Social Media


At sundown begins a 24-hour period of unplugging from technology. Started by Reboot, the National Day of Unplugging promotes the idea of giving yourself a break and remembering what it was like to live without being connected to the constant influx of information you don’t need. You can learn more and take the pledge here to disconnect. Hopefully your online promotion or event isn’t impacted negatively by this. But it does beg the question; does your online engagement plan take national or religious holidays that might inhibit online activity into account?

Also, this would be an ideal place for an overall SXSW Interactive recap discussing how to apply what we learned during the festival for business. However, that will be provided in our upcoming newsletter so keep an eye out for it in April. In the meantime, you can check out this video preview of what will be discussed.

And now, the Digital Influence Weekly…

Are you using social media to make financial decisions? A recent Mashablearticle provided news on a university study that looks at the correlation between the number of tweets about a company and the company’s stock performance. Initially, this looked promising but they reported that, “stocks predicted by Twitter to be top performers lost 2.2%.” The content of the tweets was not taken into account. Tweets with bad news would get more attention than positive tweets. Generally, you can see that most breaking news on Twitter is bad news, and that is what typically is retweeted over good news.

New York Times – Deal Book just provided some insight into how Wall Street is managing social media. Most financial institutions are reluctant due to the high risk of one wrong message and securities regulations compliance. Those who do maintain a Twitter account have to have all messages approved before posting, a process which could make timely tweets late in a fast paced environment.

One benefit reported was that advisors are able to respond to client questions with premade messages. These could help better direct people to appropriate contacts or webpages with more information.

If the demand to communicate via social media by customers continues to grow, we can expect to see financial institutions expanding their social media activities. 

There will always be businesses that look at social media as “one more thing to worry about.” However, those who refuse to engage may not have to worry about it much longer when their competitors take advantage over them through their won social media activities.