Get proactive with preemptive insights and data from social listening to inform your pr strategy and communication. Access crisis management tips and social media best practices here. Powered by social listening via 20/Twenty by Circus Social.
There comes a point in time where your brand or business will be faced with a crisis, in some way, shape or form, and this no doubt is the same for all businesses alike. News headlines often revolve around companies dealing with the fallout from a crisis, and it shows how real, and at times inevitable, such problems are – and unfortunately in today’s digital ecosystem, how quickly they can spread.
A common misconception is that crisis only strikes the ‘big-guys’, but don’t be mistaken, crisis scenarios can happen to small firms too. No matter the size, most companies are often unprepared with no crisis management and response plan in place. My question to you then – is your company prepared and are you proactively listening to what is going on?
To elaborate, here are 3 fundamentals steps to constructing & executing a crisis management plan.
REAL-TIME MONITORING – Know it when it happens
Not all problems can be anticipated, but early warning signals are normally present if you are listening to what is happening. Consistently tracking the critical aspects of your business, sentiments around these issues, and sensitive topics related to your brand are important measures to help you identify and tackle impending issues and set benchmarks before they begin to escalate out of hand.
By setting alerts and reports for triggers such as a spike in negative sentiment, impact, and keywords, your team can keep abreast of growing threats and address emerging issues promptly.
KEY CHANNELS – Target your efforts
To effectively focus your crisis response efforts, it is essential to know what platforms your brand is often discussed on. That is where Share of Voice Metrics can be utilized to understand the breakdown of mentions across your various channels (i.e. Facebook, Instagram, Twitter, News Publications, etc.
With your key channels clearly outlined, you can focus your resources and efforts more efficiently to where it matters most – whether it’s key media, opinion leaders, and influencers, or blogs and forums on social.
A SPEEDY RESOLUTION – Fix it… FAST
Now that you are aware of the crisis and you know the channels to target, what you are left with is to track how effective your response efforts have been. The easiest way to do so is by analyzing changes in sentiment over time. This will show you how fast your crisis management efforts were in achieving a positive sentiment uptick.
Charting how quickly you can attain a positive sentiment change can also help serve as a useful metric for your intervention efforts and to help evaluate if your current approach needs to be tweaked for a more effective crisis communication strategy.
With this framework as a reference, you can now develop your own crisis management plan and leverage on social & digital intelligence tools such as 20/Twenty to empower your team with actionable insights and real-time monitoring, should a crisis ever strike.
With this all-new Top Topics and clustering feature, you can now identify the key conversation topics across huge datasets in an instant. Simply define your filters and hit ‘Apply’ to see the top topics of the day (or a custom duration) unravel!
Eliminating the need for you to trawl manually through thousands of posts, you can reach data insights much faster and cut down your research time in half. With intelligently surfaced topics, you can quickly identify the top areas of online conversation that need your attention.
Deep-dive into each auto-surfaced topic cluster to discover the top keywords behind each cluster and right-click to view the actual conversations behind these topic groups.
Identify Topic Sentiments In A Glance
Detect top negative or positive sentiment topics quickly and deep dive to discover more topic groups or keywords behind these. Right-click to view raw posts.
Using this nifty and uber-powerful feature, you can quickly isolate problem, concern or issue areas associated with your brands or products and address these points via optimized communication or communications and product strategy to your customers. Perfect for those PR or crisis management moments.
How Does This Work?
20/Twenty utilizes huge and continuously growing datasets comprising of posts, conversations and data points across all supported social media and data sources to train it’s machine learning algorithms and power our AI.
All the data that streams into our platform is intelligently classified by our Natural Language Processing (NLP) Engine, into more than 180 clusters across multiple industries, based on the content in the post. This map of clusters can be visualized at multiple levels in order to get a quick overview of the different themes of conversations with their overall sentiment, impact and traction. Each of these clusters can also be explored in detail, to see the individual conversations that fall under it.
Topic Clustering Hierarchy
More Filters = More Power
These topics are automatically generated based on your filter settings. This is based on 20/Twenty’s advanced clustering algorithm. Top 10 topics along with sentiments are displayed. You can deep-dive into each parent topic to identify the top 10 keywords and phrases driving these topics. Right-click on any topic to view the actual conversations behind these topics.
You can further sort these via built-in performance metrics on 20/Twenty such as impact, traction, and post volume to get to the most impactful conversation clusters in an instant.
Topic Clustering In Action
Here are some auto-topic clusters identified across various industries –
There’s more where that came from! Stay tuned and keep an eye out for more cool updates soon to come.
If you’ve got any questions or would like to find out how Topic Clustering and how 20/Twenty’s machine learning and AI prowess can help you and your business, reach out to us at firstname.lastname@example.org or contact us here and we’ll be in touch!
If you’re a 20/Twenty user, visit our Help & Support Hub to find out more about topic clustering.
On the day India’s Prime Minister, Narendra Modi, declared the currency demonetization, the country witnessed a mixed reaction from its people. The very next day, the whole country was in turmoil and rushed to exchange these notes from banks and their ATMs, – only to find that banks and ATMs were struggling to meet these suddenly increased demands. Widespread chaos ensued across the nation and hundreds of thousands of people were adversely affected, most evidently the lower strata including farmers, daily wage earners, middle class and SME’s. Even large corporates were forced to shut operations for multiple days and lay off hundreds of employees. Other incidents representative of the impact of demonetization were the endless long queues of harried, starving and deprived men and women in front of ATMs and banks, once flourishing street stalls and shops, now a deserted scene.
The decision made by PM Modi to demonetize 86% of the notes in circulation was one that was initiated with various interests in mind. The one thing that it has undoubtedly successfully accomplished, is that of the widescale adoption of digital payments technology by Indians of all strata, nationwide.
In the wake of this massive push towards digital payments technology and moving towards a cashless, economy in India- one of our payments solutions clients saw this as a great opportunity to leverage their presence and services. The global payments company sought to identify more growth opportunities for their business and to increase share and adoption of its digital payments solutions. At such an opportune time, in order for it to reach out to this massive audience, it was extremely crucial to identify and understand the voice of public opinion, thoughts and issues surrounding this new loss of currency. An understanding of what the masses felt, what were their pain points and issues, could help the brand provide a solution in the form of its services which at its core was all about going cashless and embracing digital means of payments.
This is where 20/Twenty, our proprietary social intelligence and listening platform, helped the brand achieve insight and clear view into the opinions, thoughts and trends of the consumers moving to digital payments in India. A continued study of competition has also helped the brand keep a close tab on competitors as well as payment wallet solution providers’ activities of interest.
We at Circus Social, leveraged data from 20/Twenty to deliver daily insight reports which informed the brand of key developments and areas of opportunity with the following assessments –
• Consumer sentiments towards demonetization
• Identification of pain points of consumers as well as SME’s
• Tracking various campaign efforts of the government and competitors to learn what worked and resonated
• Tracking daily updates of other e-wallet companies like Paytm, MobiKwik etc.
• Measuring and categorizing different types of consumer engagement
• Identifying key influencers
The client also leveraged our social listening platform to get daily automated alerts when there were key issues being discussed, changes in consumer sentiment as well as growing trends. Alerts were based on keywords and consumer sentiments, when they reached a particular threshold the client received a notification. These e-mail alerts helped our client to be alerted to new and important updates and changes around India’s demonetization fiasco. With the help of 20/Twenty, the team was able to tap into the pulse of the masses and understand their sentiment on the whole demonetization drive.
Here are some of the interesting trends and insights from this crucial period:
• Over a period of two months’ people have understood that downloading an e-wallet app to pay bills is very convenient. Hence, adoption has been quick and easy with people using their e-wallets for to pay almost everything now including mobile bills/recharge, utility bills, cab bookings, movie tickets, etc.
• Post demonetization, e-wallet companies like Paytm, MobiKwik and FreeCharge have seen a huge surge in their daily transactions like never before. Paytm, MobiKwik, FreeCharge have already been in the overdrive to reach out to small traders to commence transactions on their platform. From running full-page ads in newspapers to making their presence felt on TV and digital, Paytm, FreeCharge, MobiKwik etc. are focusing on educating the consumers, expanding their user base and promoting cashless transactions.
• Moreover, since a lot of merchants don’t have card readers for debit/credit transactions, they have started to accept e-wallets as a mode of payment.
• Despite the positive developments post demonetization there still exists a section of people who are unhappy with PM’s decision of currency ban as they are forced to stand in long ques to withdraw their own cash. Also there are shops which still don’t accept any form of e-payment
• Infrastructure still a problem as its unable to cope with demands for new cash. ATMs are constantly out of cash and long queues till the wee hours of the morning persist resulting in severe consequences for consumers with them unable to pay and support their day-to-day consumption.
Whether or not India will benefit from the demonetization drive is still a big question mark but Mr. Modi’s demonetization initiative has definitely been a boon for India’s e-payment providers and they definitely have right future.
The future of e-payment providers:
• The future seems to be extremely strong. Smaller restaurants, vegetable venders are now open to accepting e-wallet payment, some merchants do not accept credit/debit cards but are now accepting e-wallet transactions.
• There has been a constant increase in the number of electronic transactions since demonetization started. Out of the 700 million debit card users in the country, 450 million earlier used the facility only at ATMs. Now, they are swiping cards at PoS (point-of-sale) terminals. This is encouraging for a move to a cashless economy.
• E-wallet transactions are convenient as these are conducted through mobile phones with internet connection.
• This is the time, for Digital Wallet Companies to grow further and be the next way of growth because people are moving towards digital life by accessing internet facility to their life.
So far so positive, but what could hold back this trend?
Having specified the benefits of electronic payment system, it is necessary to mention its drawbacks:
• Restrictions: Each payment system has certain restrictions regarding the maximum amount in the account, the number of transactions per day and the withdrawal amount.
• The risk of being hacked: As more and more people download and figure out how to use mobile wallets such as MobiKwik, FreeCharge or Paytm, there is also increasing concern over the security of transactions on these apps. If one follows the security rules the threat is lesser. Most reputed wallets adhere to all RBI security specifications and also have extra layers of security. However, most wallet apps only require a simple click for its operation. So, if you lose your phone, whoever finds it has control of your wallet. Only thing which may save you is a PIN or fingerprint protection when you send or transfer money. Though all apps are inherently safe, or as safe as your bank account, there are a few things a user has to do to ensure the financial information or money on their phones is not misused.
• The problem of transferring money between different payment systems. Usually the majority of electronic payment systems do not cooperate with each other. In this case, you have to use the services of e-currency exchange, and it can be time-consuming if you still do not have a trusted service for this purpose.
• The lack of anonymity. The information about all the transactions, including the amount, time and recipient are stored in the database of the payment system. And it means the intelligence agency has an access to this information.
• The necessity of Internet access. If Internet connection fails, you cannot get to your online account.
In general, the advantages of electronic payment system outweigh its disadvantages and they have bigger opportunities comparing with ones of traditional wire transfers.
Crisis is a word that all businesses fear. In the good old days – a crisis has to be managed by engaging traditional media and publications from an early onset to minimize the impact on the business’s brand and reputation. However, in today’s digital age – most crisis situations often rear their heads through social media. With the potential to go viral within minutes and attacks coming from sources worldwide, managers should rethink their crisis management strategies and whether their tools are adequate in dealing with them.
Monitoring and tracking social media crises can be a tricky business. Speed is key. By the time it takes to establish a plan and formulate a response, it would often have been too late; social media would have already blown the situation out of proportion. Crisis really tests the management of an organisation and co-ordination within the company. While many companies turn to communication and PR experts to offer insights, why not do it yourself? Circus Social has several tips to share on the 4 phases of managing a crisis.
Pre-Empting a Crisis
Businesses can proactively prepare for a crisis by monitoring specific keywords and discussions online. Particularly on social media, certain keywords would raise alarm bells. For a manufacturing firm, it could be ‘defect’, for a courier delivery service it would be ‘delay’. Regardless, being able to track and monitor the usage of such keywords in relation to your business is vital to stay a step ahead and give you sufficient time to react. This does not mean you have to get your staff to crawl the web 24/7. A smarter way would be to set up alerts that go straight to your inbox when thresholds on certain keyword usage have been reached.
Identify Sources & Channels
So a crisis has occurred, what next? Quick identification of the bearer of bad news is essential to decide the right course of action. While companies develop crisis roadmaps in handling crises, no two crises are the same and require tact in handling. For example, if the majority of your ‘bad press’ is being shared quickly on Twitter amongst influential users with large follower bases – you know you need to spread your holding messages and responses quickly and effectively through the same medium as well. Try and identify influential users (those with high Klout scores) so you can focus your efforts efficiently.
The social sphere is extremely vast with a wide variety of posts. To get through the clutter, there are useful filters to find impactful and viral posts. Impact score of the post indicates the reach of the post (in terms of likes, shares, comments) and the traction score, indicates the virality. Filtering by impact helps you identify the posts that matter the most, both to the public and for your brand. Another useful tool would be an associative word cloud to help spot other related topics that might have been overlooked.
While some experts advocate not taking action and letting the social media storm die down as rapidly as it came, more often than not, it would be wise to acknowledge the issue. If an employee is accused of wrongdoing, or there has been any form of lapses in procedures, some form of accountability and acknowledgement of the issue will pacify the public. Better yet, inform them that investigations are ongoing. You could even win over new fans by providing timely and relevant information, turning a crisis into an opportunity.
Once traction of the negative post dies down, (hopefully) the worst is over. However, it is still important to be accountable to the public and your customers. At this stage, do release the results of your investigations and be sure to implement measures to prevent a repeat crisis. Also, analyse the traction of past posts and identify and thank fans who have been supportive. It would also be a good time to adjust alerts and thresholds based on what has been learned.
Hopefully, these tips will help any manager take charge of future crises on social media. Get in touch with us to know how 20/Twenty can be part of your crisis management solution.