Social Media Week London 2014: Battenhall's FTSE 100 on Twitter

For the second year running Battenhall has kicked off the launch for Social Media Week London (#SMW2014). The PR and communications agency launched its annual report on how the FTSE 100 uses Twitter at the Soho Hotel. Battenhall founder, Drew Benvie, pointed out that the greater take-up of social media by US firms has encouraged UK businesses to take the leap.

A change in US Securities and Exchange Commission Regulation, introduced in April 2013, required listed companies to reveal the social media channels where they broadcast official communications and financial information. This forced many large companies to get social.

Although there’s no equivalent legislation in the UK, the landscape for big brands on social has improved – with the usual suspects leading the way. Burberry, Sainsbury’s, Tesco, ITV and Marks and Spencer all score highly.

Burberry

Burberry has long been a pioneer on social, setting the tone for last year’s London Fashion Week with its slow-mo Vines, and getting the lion’s share of mentions and the defining pic for this autumn’s event with Cara Delevigne on the front row.

Tesco

Tesco was also name-checked for tweeting more than the entire FTS100 put together, notching up 644,000 tweets, and defining the benchmark for customer service on Twitter.

@Tesco have tweeted more than entire FTSE 100 #smwwhatsnext — Adrienne Grubb (@eMod_Adrienne) September 22, 2014

Which brands are missing out?

However, what’s more interesting are the no-shows on social. The Battenhall report notes that 10 companies in the FTSE 100 do not have any presence on Twitter at all and only 37 have verified accounts. This lack of housekeeping is a basic error. If you’re going to set up an account, get the mechanics right. It could make your brand vulnerable to impersonation.

The bottom 10 performers on Twitter include mining company BHP Billiton (which has over 135, 000 followers on Linked In), financial services giant, Prudential (which has over 68,000 LinkedIn followers on its financial and assurance brands) and global engineering company, GKN.

As Benvie pointed out, the landscape is one of social ‘haves’ and ‘have-nots’. But why are these companies failing to get to grips with social media?

Financial services firms have traditionally lagged behind on digital and social, and with a strict regulatory environment and new FCA guidelines on financial promotions on social media, their caution is no surprise.

That said, with a two-tier market of independent financial advisers and consumers to talk to, it is a missed opportunity. Dedicated customer service channels are a sure-fire way to success for brands on social. While dedicated closed communities can work really well as a forum for Independent Financial Advisers (IFAs) to share and discuss product information. The Battenhall report notes that Prudential has gone to the effort of setting up @Pruadviser, but hasn’t done anything with it.

Heritage brands such as BHP Billiton can tap in to a rich historical archive of brand stories and imagery to create a brand personality on social media – it might not rival Burberry, but there is always a story to tell.

There really is no excuse for big brands to ignore the power of social and start a dialogue with their customers, their shareholders and the press. The goodwill generated by a positive presence will serve them well if their brand ever comes under fire.

This article first appeared on the Emoderation blog.