In the present scenario, the social media platforms have become the most lucrative mode to enhance their success levels. These increasing roots of the social business in 2013 landed on the radar of the corporate communications department and The Securities and Exchange Commission in the US approved the regulation that listed companies must disclose which social media channels are being used for official company and financial communications. Hence the global brands started to integrate the social mechanism and Twitter Inc (NYSE:TWTR) emerged as the leader from the front with 83% of business elites in Fortune 500 preferring this micro blogging portal as the most preferred network. But on the contrary the companies not on Twitter have been literally let off the map.
90 of the companies in the UK’s FTSE 100 share index – a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalization – have a presence on Twitter, sending out more than 1.4 million tweets collectively over the past year. Gleaning to this Twitter trend in the corporate, the communication agency Battenhall published their second annual report which deduced that among the FTSE 100 companies, just 10 companies did not have a Twitter account which was down from 12 the last year. This reveals that the FTSE companies have become quite active on Twitter, majorly due to 2013’s US legislation from the SEC, but there is still a stagnant factor involved with most brands doing a bad job or nothing at all to make use of this social dais.
The main highlights of the report were:
• 6 of the 90 companies on Twitter have never tweeted, down from 8 last year.
• 10 of those that are on Twitter have not tweeted in the last month, down from 19 last year.
• Only 39 companies have more than 10,000 followers, up from 28 last year.
• 20 companies have fewer than 1,000 followers, down from 21 last year.
• The FTSE 100 companies tweeted 1,459,223 times in just the last year.
• The top performers on Twitter are Burberry, Coca-Cola HBC, ITV, Marks & Spencer and Sainsbury’s.
• The worst performers are GlencoreXstrata, Prudential, BHPBilliton and CRH.
Tweets towering tremendously in past one year
During this time last year, the FTSE had created a total of 582,227 tweets in total but a year later, the story has completely changed. The total tweets for the FTSE 100 now stands at over 2 million – 2,041,450 which is the exact number i.e. 1,459,223 new tweets in just the last year wherein Tesco alone has tweeted 644,000 times in total, which is more than all of the FTSE 100 this time last year.
10% of the FTSE 100’s have not yet adopted the new digital world and continue to follow the old trends. Although, for the last year two companies have adopted this new techno world- BHP Billiton and Weir Group which is a positive sign.
Also, only 37 out of the 90 companies on Twitter are verified whereas 53 are not. So this is something the companies need to request as showing the company is acknowledged by Twitter add to its business credentials.
The growth leaders and lagers
Most of the FTSE 100 companies have grown in size in the past year with Burberry Group accumulating the largest set of new followers in the last 12 months followed by the ITV Group. The majority of the companies finds it easy to grow their following, as long they are producing good content. However, the 10 accounts on the FTSE 100 index grew by almost nil margins and failed to reach even one new follower per day.
The most influential brand was deduced to be Marks and Spencer which gained an influential score of 83.4 using the Moz scoring system which measures the influence of engagement and follower size and where 100 is the highest score possible. On the other hand, the least influential score was jointly shared together by six brands-Shire, Arm Holdings, CRH,Prudential, GKN, Travis Perkins and St. James Place all scoring unity on this index.
Some swindling phenomenon which occurred last year
- 16 companies gained verified status from last year
- 1 company actually lost its verified company status – that was AstraZeneca
- 10 companies dropped out of the FTSE 100 altogether from last year, meaning there are 10 new names.
- One company turned its account private – Glencore Xstrata.
- Two accounts that exist are private – Glencore Xstrata and BHPBilliton.
The last year has proved to be a revolution as most of the UK PLC have gone social. There have been significant changes, but without regulation similar to that seen in the US, there is still a very polarized outlook when it comes to how brands are using social media for communications.