FedEx and Ketchum Benchmark Best Practices in Social Media
November 22 2010 - 1:00PM
Business Wire
Companies are using social media to change the way they
communicate with their employees and customers, indicating a
convergence of external and internal communications, according to
an in-depth study of more than 60 of the world’s most recognized
companies. The study, conducted jointly by FedEx and Ketchum, also
found that generating word-of-mouth advocacy and addressing
customer care issues are among the most common objectives for
corporations’ social media use.
The study examined social media programming, team structure and
budgeting in regulated and non-regulated industries. Participants
in the study fell into three distinct categories based on the
sophistication of their social media approaches: leadership,
participation and observation.
“We’ve gained tremendous knowledge about which companies aspire
to a leadership role in the social media space, as well as the
structural changes being made within organizations to respond to
the unique challenges and requirements of being active in social
media,” said Bill Margaritis, Senior Vice President, Global
Communications and Investor Relations, FedEx Corporation. “The
discussions with participants provided interesting perspectives on
whether leadership should be the gold standard for all companies in
the space or if, in some cases, being a participant is more
appropriate.”
Margaritis continued: “As we heard from one interviewee,
‘Sometimes it’s okay to be a close follower. It all depends on what
you’re trying to achieve.’”
If part one of the corporate social media revolution focused on
connecting with customers and influencers, then part two may center
on engaging employee audiences according to study participants. In
fact, half of the participants plan to redesign their intranets in
the next one to two years to include greater social media
capabilities.
“As social media increasingly dominates the way people
communicate outside of the workplace, it makes sense that workplace
communications should follow suit,” said David Rockland, Ph.D.,
Partner and Managing Director of Global Research at Ketchum. “FedEx
and Ketchum Pleon Change found that organizations are quickly
mobilizing to better facilitate knowledge management, innovation,
and culture building via internal social media applications.”
The study also reveals other trends among leading companies and
identifies key learnings for others such as the seven steps to
developing a social media program; tips for companies in regulated
industries; ideas for building stronger blogger relationships; and
considerations for building a social media policy.
Study participants also provided insight into the budgeting
process, with most estimating that they spend between five and 15
percent of their overall external communications budgets on social
media. Not surprisingly, most also predict budget increases for
social media in 2011, although some programming budgets may be
offset by investment in talent with specific social media
roles.
One area of social media that continues to present challenges
for study participants is measurement. While most monitor
for online mentions and activity, participants generally agreed
that there is no consistent, reliable approach to measuring
ROI and that looking at metrics like “followers,” “friends,” or
“views” is not sufficient.
“This study provides a behind-the-scenes look at how some of the
most renowned global brands are approaching their participation in
social media, organizing their corporations to respond to
opportunities and issues, and allocating budgets,” said Rockland.
“It also reaffirms the desire companies have to improve the way
they assess quality of online interaction, level of user engagement
and ultimately business impact.”
Methodology
Ketchum used a standardized interview protocol to guide 30
minute conversations with Chief Communications Officers or their
Social Media Leads at 62 leading companies across most major
industries in the US and Europe.
Interviews occurred between August and October 2010. The study
may be found at www.2010socialmediastudy.com.
About FedEx
FedEx Corp. (NYSE: FDX) provides customers and businesses
worldwide with a broad portfolio of transportation, e-commerce and
business services. With annual revenues of $36 billion, the company
offers integrated business applications through operating companies
competing collectively and managed collaboratively, under the
respected FedEx brand. Consistently ranked among the world’s most
admired and trusted employers, FedEx inspires its more than 285,000
team members to remain “absolutely, positively” focused on safety,
the highest ethical and professional standards and the needs of
their customers and communities. For more information, visit
news.fedex.com.
About Ketchum
A communications innovator and the 2010 Large PR Firm of the
Year (Holmes Report and PR News), Ketchum is a leading global
communications consultancy and, operating as Ketchum Pleon, is the
largest, most diversified agency in the U.K. and continental
Europe. With five global practices – Brand Marketing, Corporate,
Healthcare, Food & Nutrition, and Technology – and specialty
capabilities that include Access Communications (high- and
consumer-tech PR), Concentric Communications (experiential
marketing, events and meetings), MMG (clinical trial recruitment),
Ketchum Global Research Network, Ketchum Pleon Change (change and
workplace communications) and Ketchum Sports & Entertainment,
Ketchum leverages its marketing and corporate communication
expertise to build brands and reputations for clients. For more
information on Ketchum, a unit of Omnicom Group Inc. (NYSE:OMC),
visit www.ketchum.com.
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