Web Profits Blog

MEDIA RELEASE: ASX100 companies ‘hiding’ on Twitter

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Half of the ASX100 use social media – but only a third are choosing the social media platform that Australians favour, Facebook.

53% of ASX100 companies are now using Twitter, but only 27% are using Facebook. Less than a quarter of the top 100 Australian companies are using both.

With 11.5 million Australians active on Facebook and only an estimated 2.2 million active on Twitter, the results suggest that risk aversion is leading large Australian companies to choose the less populated channel to ‘hide’ their social output. In pursuing the illusion of control they are forgoing the opportunity to connect with customers and stakeholders.

“The results indicate that companies that feel pressured by their boards to embrace social media are choosing Twitter because it feels safer,” says Paul Sprokkreeff, MD of Web Profits, “Comments on Twitter fly by so quickly, while a faux pas on Facebook often sticks there for everyone to see. Rather than formulate a strategy to turn this to their advantage, many companies are confining their engagement strategy to tweeting the odd media release or pre-spun factoid to a handful of followers.”

The Big 4 banks are leading best practice

However some ASX100 companies have realized that Facebook can be a powerful tool in engaging stakeholders and providing excellent customer service.

The Commonwealth Bank leads the pack, coming in at number one of the ASX100 for effective social media deployment, with NAB, Westpac and ANZ coming in at 6th, 7th and 8th place.

“That the Big 4 banks have caught on indicates that even traditionally risk-shy companies know that the blend of information and customer service that social media can achieve is a powerful marketing and loyalty tool,” said Sprokkreeff, “I think we’ll see social media grow significantly in importance to exceed that of the call centre in the next 5 years.”

For more detail, see the attached report How the ASX100 are using Social Media.

Web Profits Managing Director Paul Sprokkreeff is available for interview.

For more information:

Parnell McGuinness
P 0412 22 82 82
E Parnell McGuinness

Follow @paulsprokkreeff on Twitter
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