Does social media work well with earnings? It was my goal to find out a few weeks ago as we planned the social media component of LinkedIn’s first earnings announcement and the accompanying earnings call, which went out yesterday at 2pm Pacific time. For those of you who missed the action, here’s a recap.
But, I digress. My goal was to find out what are the key social media tools a company should leverage during an earnings call and I found there were two, in particular, that could come in handy. After the jump.
Step 1: Start with the Basics / 3 key social media channels
First off, figure out the key social media channels that’ll work best at disseminating information around the earnings to the right audiences (investors, customers, members of your service, etc.), in the right way (share friendly and compliant). This may seem simple, but planning every last detail whether it’s post, tweets or sequence of uploading content well in advance really helps.
Here are the three basic social media channels that we used for our first earnings call yesterday:
- The LinkedIn Blog – post from the CFO
- LinkedIn’s Company Page – will link to our twitter page @linkedin (didn’t want too many tweets, cluttering our homepage there, so we decided to have select tweets that redirect to our Twitter page where I’d be live tweeting the call)
- LinkedIn’s Twitter Page (real–time updates during the earning call)
In addition, specific to the earnings call – I found the following two channels helpful. More on that in just a second.
This is of course, in concert, with your existing official channels that should kick-start the process (there are mandatory regulations that govern this process; so make sure you work with your legal team on figuring out that order). In our case, right after the press release crossed the wire, and the PDF slides were up on our IR site, the social media component went into play. So, time it well and stick to your schedule.
Trust me, it’s all a blur once the call starts and you start live tweeting – plus, there are so many moving parts that you’ve got to be careful you don’t mess up the ordering or accidentally upload stuff before the official news is out there. Also, don’t schedule stuff for auto-publishing, cos, you never know when things break.
Step 2: Make it easy to share / Slideshare
I think the biggest advantage that social media brings to the table is the ability to let users – members, investors or other bloggers get a hold of content (like earnings deck slides) and make it easy for them to share. The earnings call (in our case) was an audio webcast and you had to register to listen in. You could also download a PDF deck of slides, but you’d have to email that and there’s no way to tweet that either.
Not only does Slideshare make it easy for you to upload your slides in private mode (premium feature) so you have it ready to go when the call starts, they also offer customization that lets you feature your earnings slide on your Slideshare homepage. And, of course, it makes sense to add your Twitter and StockTwits widget as well. More on that in a second.
Step 3: Get Compliant / Stocktwits
Finally, the biggest question that companies have about earnings call and social media is staying out of trouble and keeping your blog post/s and tweets compliant with regulations. First off, you wanna work closely with your legal team to nail the specifics around your Safe Harbor statement and Disclaimers, which we used on the blog post. But, what about tweets and 140 chars?
If you’re live tweeting your earnings call — and I’d recommend you do that — ideally, you’d want to add a disclaimer to every tweet that contains financial information. Now, doing that manually is one heckuva problem and Stocktwits helped take care of that (premium feature we subscribed to).
They have a system which allows you to add a disclaimer to every tweet (it may be a simple tweet, link to other webpages, a slideshare page, etc.) That does reduce the # of characters for your tweet (from 140 to 117) but from my perspective the premium feature was worth the peace of mind. In addition, they allow you to send this out to your Twitter, LinkedIn and Facebook pages.
And, here’s our Stocktwits LNKD page.
To summarize, the earnings call was like our other recent announcements on social media but the two new components that made the earnings call simpler, were Slideshare and Stocktwits. Here’s how I described it on their official blogs:
As a social media company, it was a no-brainer to use Slideshare to share our earnings call slides on our corporate blog. While Slideshare made it easy for our readers and followers to share this content virally, Stocktwits ensured that our status updates and tweets were compliant; both necessary components for an effective social IR strategy.
Work in social media for a company planning earnings? Got questions? Let me know.