One Crisis Espresso, Please!
by Rob Weinhold, Chief Executive of Fallston Group Social media attack, bad press, investigation, litigation, data breach, sex scandal, economic downturn, discrimination, mismanagement and, tragically occurring with greater frequency, active shooter situations…the list goes on and on. Life comes at you fast, and there’s one irrefutable certainty: the issue isn’t “if,” but “when” crisis will come knocking on your door. Crisis came pounding on Starbucks’ door recently, with sonic, viral velocity. When two black men were arrested in a Philadelphia Starbucks, chief executive officer Kevin Johnson didn’t pass the buck or glide over the incident as an unfortunate misstep. He promptly said, “I own it. This is a management issue, and I am accountable.” He went on to call the arrests “reprehensible.” But what does being accountable mean? After observing hundreds of organizations in crisis over the years, many opt to provide lip service and simply make it through the next day’s news cycle until some other company assumes the daily crisis crown. In fact, many leaders say and do nothing…a spiraling disaster. Note Fallston Group’s mantra: “If you don’t tell your story, someone else will. And, when someone else tells your story, it certainly won’t be the story you want told!” Johnson is choosing to tell the organization’s story, and often. Starbucks has given a strong response since the start of their crisis. Leadership is visible, on message, on many media platforms and passionate – their primary and secondary spokespeople are believable and appear staunchly committed to long-term change. Both Johnson and founder and chief executive, Howard Schultz, are withdrawing huge sums from their reputational piggy bank. By the way, Starbucks is a $22 billion company and so far, stocks have remained steady. This is a function of true leadership and aligned marketplace confidence. I firmly believe reputation equals trust, trust equals valuation. Starbucks’ leadership announced the closure of all 8,000 company-owned stores in the U.S. on May 29 to train 175,000 employees about racial bias. The best decision was engaging training guidance from former Attorney General Eric Holder and a key member of the NAACP. Even though Starbucks already has a very capable, diverse board, leveraging its outside network is a critical, effective strategy – inclusion enhances credibility. However, training is just the first step. The initial training should be followed by routine assessment, policy development, rigorous ongoing training and modeled behavior. All these elements must be coupled with inclusionary leadership development and decision-making. It’s about long-term organizational change. Crises cost time, money, customers and ultimately, your career. After decades helping people during life’s most critical times, I’ve come to realize that crisis is not to be feared. In fact, crisis can be a growth strategy. And growth doesn’t always show up in a stock price…in this case, this incident will be the springboard for a more equitable corporate setting and inclusionary customer experience. Once stabilized, crisis should not be relegated to the rear-view mirror with an exhale of relief. It is an opportunity to continue to climb the chairlift; this is where real substantive change is created. Remember: reputation equals trust, and trust equals valuation. When you understand this key component of leadership, crisis is no longer just something to “get through.” It is a unique opportunity for you to guide your company to a more brilliant and prosperous future. Everyone will be watching, Starbucks…so far, you are doing the right thing. But, don’t fall off the chairlift! To learn more about crisis & issue leadership offerings at Fallston Group, click here or contact us at 410-420-2001.
Demystifying Cyber Risk: Executives, Champion Your Cyber Risk Management
Written by Mike Volk, Cyber Specialist at PSA Insurance & Financial Services Effective cyber risk management involves every part of an organization. Cybersecurity policies guide employee behavior and shape culture. Cybersecurity training helps employees — from IT staff to administrative professionals to C-suite executives — understand and protect the organization from cyber threats. Technology helps enforce policies and provides essential defense and detection capabilities. But the success of any initiative on this scale — one that impacts the entire organization —will succeed or fail based on the vision and engagement of executive leadership. Developing and implementing an effective cyber risk management strategy is a vital element of your business’ success. Yet, for many leaders interested in improving cyber risk management, getting started can be one of the hardest parts. One crucial aspect of this strategy is ensuring compliance with ISO 27001, a globally recognized standard for information security management systems. Adhering to ISO 27001 compliance not only helps in mitigating cyber risks but also establishes a structured approach to safeguarding sensitive information, enhancing your organization’s overall cybersecurity posture. Today, I’ll provide foundational information on the nature of cyber risk. My goals is to help you and your Information Technology team be on the same page when discussing cyber risk and how it can potentially impact your business. Then, in an upcoming post, I’ll provide best practices you can follow to begin a cyber risk review, which will help you better understand your unique cyber exposures and aid in creating a high-level cyber risk profile for your organization. What Is Cyber Risk? Cyber risk is typically portrayed as a mysterious hacker hiding in the shadows, breaking into your network and infecting it with malware. In reality, your organization’s cyber risk is comprised of a variety of factors — some that are unique to your organization, and some that are pertinent to all businesses. The diagram below provides a simplified visual representation of a cyber risk equation that helps define cyber risk. Figure 1. Cyber Risk Equation Why Is Cyber Risk Different from Traditional Risk? The complex nature of cyber risk makes it unique compared to traditional risks. For example, one familiar risk category for most organizations is their physical property. On any given day, it is possible that your property could be destroyed by a fire, flood, storm, vandalism or other incident. In this instance, there is a maximum loss value associated with the property, making the risk linear and relatively predictable based on historical data and other known factors. In contrast, internet-connected technology creates a risk model that is fluid and unpredictable. By “plugging in,” each business, person, device becomes a node in a complex global system. In this system, cyber risk has the potential for exponential growth that is difficult to plot on a graph or predict with historical insurance models. For example, if the network of an organization is infected with a virus, it is possible that the virus could damage the enterprise’s network and spread to every vendor, client, individual or other third party that is connected to the infected network. The virus may also allow a criminal to steal money or sensitive data, leading to other financial and legal implications for the business. Physical damage, such as a building burning down, could be devastating and may impact other nearby buildings. However, it is not possible for the fire to spread to the buildings of every third party that interacts with your business or lead to other unpredictable consequences like those a business might experience after a major data breach. Effectively managing cyber risk is now a cost of doing business. It is important that decision makers begin building a baseline understanding of cyber risk, why it is challenging and how it impacts the organization. It’s also important to acknowledge that managing cyber risk is not free, and it requires a time commitment. Smart leaders are beginning to understand this reality and are facing the challenge head-on. The good news is that with the right information and approach most leaders have the skills to guide the holistic cybersecurity strategy for their organization, even if they are not technical experts or directly involved in implementation. As a leader, simply placing an emphasis on cybersecurity as an enterprise priority is a good place to begin. Armed with a foundational understanding of cyber risk, a cyber risk profile specific to the organization, and the right internal team and external partners, every leader can help reduce risk and position the organization to be more resilient in today’s complex technology-driven environment. In an upcoming blog post, we’ll outline the steps your organization can take to get started with a cyber risk review. In the meantime, if you have questions about how to increase your organization’s cyber resiliency, contact me at mvolk@psafinancial.com. Information contained herein is generic in nature and provided by sources believed to be reliable. It is for informational purposes only and is not guaranteed as to accuracy, may not reflect our current opinion, and is not intended to replace the advice of a qualified professional. All rights reserved. No reproduction in whole or in part is permitted without the express written consent of PSA. PSA Insurance & Financial Services, its affiliates and employees are not responsible for the content of other web or social networking sites. PSA Financial Advisors, Inc. is a Registered Investment Advisory firm located at 11311 McCormick Road, Hunt Valley, MD 21031, and may only transact business in those states in which they are registered or exempted from registration. Contact our office at 410 821-7766. To protect your privacy, do not send personal information via the internet.
A BUSINESS GUIDE TO TWITTER
Twitter is an online platform that allows users to broadcast a short message to other users across the globe. It has become a primary resource for online news and social networking and primarily caters to a male audience. As a social network, Twitter relies on the basic concept of followers. The more people you follow, the more diverse your news feed. For businesses, the more followers, the larger the audience of influencers and decision-makers you can reach. So, you can see why Twitter is such an attractive platform for business. Before your company starts Tweeting, Fallston Group wants you to know some of the basic rules of the road and best practices to make the most of your audience interaction. How Does It Work? Twitter allows users to engage by providing a platform for sending and receiving short messages. Think of it as the highlight reel on ESPN. Instead of reading an entire article, you can quickly scan your ‘feed’ and determine what is of interest to you. Many Tweets include a hyperlink so you can easily read more if you so desire. Users find someone or something of value and begin ‘following’ them. From that point forward, they are able to see the Tweets that person or company sends out. Insight. Since Twitter is a popular platform for customer feedback and complaints, it can provide unique insight into how your customers (and your competitors) are thinking or behaving. There are also a variety of platforms that can ‘listen’ to social media feedback for you and compile data for consideration. Zero Cost. After you establish a following or audience on Twitter, it costs nothing to broadcast a message to them. So, it’s an easy way to keep customers updated, promote brand loyalty, create engagement or launch a new product. Want to get started your company started on Twitter? Fallston Group has created “A Guide to Social” with quick tips for preparing, posting and promoting your content on social media! Download your free guide today or contact Fallston Group directly.
HOW EFFECTIVE IS YOUR SOCIAL MEDIA?
When your business utilizes social media to reach your target audience, you’ve taken an important first step. But, how effective is your social media? Is one platform working better than another? Do you have more engagement with certain posts? Why or why not? Fallston Group is here to help with four tips that can help you monitor and track your social media efforts so you can spend your time more effectively! Engagement. How engaged is your audience? Do they like, share or comment on your posts? Is your message meaningful? Are you providing your target audience value? Measuring the engagement of your interactions is critical to your social success. Reach. Analytics can help you evaluate how many people potentially saw your posts. This could include your fans or followers as well as the number of impressions or times your post appeared in a newsfeed. One of the most important analytics you should be monitoring is the amount of traffic that is being funneled to your website and/or landing pages from social media. There are a variety of tools available to help you gather analytics. In addition, firms like Fallston Group can help you analyze the data and adjust your social marketing plans accordingly. Leads and Conversions. If you’re spending money on any type of marketing, you want to understand the Return on Investment (ROI). So, your CRM should be able to help you understand how and where your best leads and sales are coming from. Customer Satisfaction. When you’ve done a great job, social media provides an easy way for customers to praise or review you. This not only builds credibility but can enhance your SEO efforts as well. Although social media can provide an easy way for disgruntled customers to complain as well, consider this an opportunity for you to show them, and other customers, how quickly and effectively you resolve customer complaints. Does your company need help navigating the world of social media? Fallston Group has created “A Guide to Social” with quick tips for preparing, posting and promoting your content on social media! Download your free guide today or contact Fallston Group directly.
IS SOCIAL MEDIA IMPORTANT FOR MY BUSINESS?
The statistics change day by day, but roughly 9 out of 10 companies are now using social media for marketing purposes. Understanding social media marketing, including which audiences use which platforms and the best ways to engage them, is a critical part of an effective digital marketing strategy. In this article, the experts at Fallston Group provide insight as to why it’s more important than ever to create an effective social media strategy for your company. What Do the Numbers Say? In today’s social world, buyers are heavily influenced by social media. More than 80% of Gen Z (the children of baby boomers, loosely defined as those born between 1995-2014) are influenced by social media, as are 74% of millennials. So, you may say, my target audience is older than that. Well, Generation X (those born in the 60s & 70s) are not too far behind at 58%. The numbers show the influence–but what does it mean for your business? Reviews & Ratings. When a consumer buys a product or service online, there is so much information available to help them make informed decisions. They can view the feedback of other customers on the product or company. They can peruse the track record and service history. So, social media plays a vital role in interacting with those customers and creating good experiences. Websites. Back in the day, when someone walked in your store, every effort was made to close the sale before they walked out. The same is true of your website today. Social media is a tremendous way to increase traffic to your website. Once you get them there, it’s just as important to create strategies to convert that engagement. Branding. Social media creates a huge opportunity to create brand awareness and increase brand loyalty. By providing companies the ability to talk directly to your customers, you create a relationship and establish trust – something old formats like direct mail or telemarketing never accomplished. Maximize the power of social media for your company! Want to get started but need help? Fallston Group has created “A Guide to Social” with quick tips for preparing, posting and promoting your content on social media! Download your free guide today or contact Fallston Group directly.
5 THINGS EVERY BUSINESS MUST KNOW ABOUT FACEBOOK.
Facebook is the most popular social networking site with 1.9 billion monthly users and 75% of users spending 20 minutes or more on Facebook daily. The platform allows users to post photos, share recommendations, send messages and stay in touch with family, friends and colleagues. Unlike LinkedIn, Facebook’s primary purpose is to serve the user in a social vs. professional setting. But many companies have recognized, particularly in the Business-To-Consumer space, that Facebook can provide valuable marketing tools to reach consumers and their friends. So, before your company sets out to launch a Facebook presence, Fallston Group wants you to “know what you don’t know”! Create a Company Page. Your company page should include your logo as the profile picture and an engaging cover photo. Be sure these images are properly sized and engaging to your target audience. Since dimensions and guidelines tend to change, refer to Fallston Group’s “A Guide to Social Media” for the latest information. Carefully Assign Page Roles. You’ll want to protect your brand by ensuring the people posting as your brand have the proper assignments and training to carry out the task. You can assign Facebook Business Page roles to the employees who have responsibility for communicating with your audience. Add an Appropriate Call-to-Action (CTA) Button. This tool allows you to drive traffic from Facebook to another destination such as your website, a targeted landing page, etc. You’ll want to carefully strategize about the best ways to utilize this feature. Perhaps you simply want to drive traffic to your website – a “Learn More” button will be adequate. But, if you’re trying to promote an event, you may consider changing the background image and creating a CTA like “Sign Up” or “Reserve My Seat” – customized with a landing page for registration. Incorporate Video. When you consider that 85% of the US audience watches videos online and that 1/3 of online activity is spent watching videos, you realize just how important videos are to your company, your brand, engagement with your target audience and ultimately sales! Be sure you have and post video content – and be certain that it’s conveying valuable information! Plan Your Postings. Unless you have someone dedicated to the task, many companies struggle with what to post and how often. Too little can create doubt in the brand, company or products. Too much can cause people to unfollow you. So, strategically plan your postings and content with the help of a social media calendar. Don’t have someone on staff? Contact Fallston Group today! Want to kick off your Facebook presence the right way? Fallston Group has created “A Guide to Social” with quick tips for preparing, posting and promoting your content on social media! Download your free guide today or contact Fallston Group directly.
4 TIPS TO MAXIMIZE YOUR COMPANY’S PRESENCE ON LINKEDIN
Linkedin Presence LinkedIn is the preferred social media platform for businesses, their employees and professionals across a variety of industries who want to connect and network. As a matter of fact, it is the largest professional networking platform. It is also a primary tool for businesses to recruit talent and for job seekers to find openings. Much like a website, it is a place where potential clients and existing customers will follow you. So, it makes perfect sense that any company would want to establish their presence on this vast network. But, before you begin, Fallston Group wants you to know the 4 things you need to know to get started on LinkedIn. Company Page. Make it interesting. Include your company logo, a cover image and content that is SEO-friendly along with images that will help engage visitors. Include keywords in your company description that describe your business, industry, niche offerings and areas of expertise. The more complete your company page and profile, the more likely you are to be found and followed. Banner Image. The banner image is another great way to promote your brand and create engagement. Best practices are to choose an image that has the same branding and elements as your website. Include your URL and main phone number in the banner image; even though they are shown in other places, it will keep them prominent and visible to visitors. Adding a call to action or hashtag can also improve your engagement factor. Publish Platform. The publishing platform on Linkedin is often underutilized. Yet, it provides a great opportunity to position your company as a knowledgeable resource in your industry. It can also be a great lead generator! Content should revolve around company news, thought leadership or innovative ideas for your industry. Start by creating an editorial calendar. Articles can be assigned amongst your team, or an agency like Fallston Group can assist you with content development. Encourage individual employees to share your post through your personal account to gain traffic toward your page. Showcase Pages. Think of these pages as a way to spotlight a business unit, an upcoming event or another initiative. These are stand-alone pages specifically geared towards a targeted audience, so make them stand out with targeted information and visuals! For the company who is just getting their feet wet on LinkedIn, Fallston Group has created “A Guide to Social” with quick tips for preparing, posting and promoting your content on social media! Download your free guide today or contact Fallston Group directly.
Quality Active Shooter Training Save Lives
According to USA Today, last year was the deadliest year for mass shootings in more than a decade. One could even deem 2017 the deadliest year for mass shootings in modern U.S. history: two of our country’s five deadliest mass shootings ever occurred in the span of just 35 days. As the new year approaches, it is essential your company is prepared for the worst – it is not negotiable. Fallston Group believes not all training is equal and real-world experience is what truly matters; this is especially true when it comes to active shooter training. When your organization is searching for active shooter training, take time and vet the instructors who will provide the actual training. Key questions to ask before booking an active shooter training: Are the instructors certified to teach? Specifically, are they certified to teach active shooter response strategies? What body are they certified through? Finally, ask for the bios of the instructors teaching the class. You want the “best in class” to protect your most important asset – your people. If your company is ever sued for liability after an active shooter event occurs on your property, you can be assured the jury will want to know everything about the training you provided. Don’t just put a check in the box by putting your people through the paces with unqualified instructors. Fallston Group’s instructors have been certified nationally through the National Tactical Officers Association (NTOA) since 2001 in Active Shooter Response, and have taught military, law enforcement and private sector organizations for more than 18 years. Additionally, we have operational experience dealing with real-world active shooter events. Make certain your organization is trained by qualified experts who know how to save lives and provide an important level of defensibility in court – not only is it your responsibility, it is the right thing to do! To learn more, contact Fallston Group at 410.420.2001 or info@fallstongroup.com, download our active shooter training information and visit https://fallstongroup.com/
4 Questions to Ask to Make More Marketing More Effective in 2018
By Kathy Walsh, Director of Marketing I’m a big believer in the tried-and-true when it comes to developing a marketing strategy. You may have heard of the “4 P’s” of marketing—product (or service), pricing, place, promotion—and maybe even the 5th “P” which incorporates positioning. I believe these tenets, established years ago, are still as valuable as ever. After all, without a solid understanding of your value add, where you fit in the competitive marketplace, who your customers are, and points of differentiation, you lack the solid foundation on which to build your marketing efforts. But the tactics you use to execute your strategy are changing at lightning-fast pace. For years, the website chiefmartec.com has created an annual graphic showing the marketing technology (martech) landscape at a glance. Just six years ago, in 2011, there were about 150 martech tools in total. Today, there are more than 5,000. The image below quickly visually depicts just how overwhelming this can be. With all these choices, how do you figure out which tools will best support your marketing strategy? There are some general considerations that will help you decide which types of martech you need to be using for the greatest impact in your marketing efforts. If you can answer the following four questions, you’ll be on your way to building the portfolio of martech tools that is right for your business. Do you know who—and where—your best customers are? This may seem like an obvious answer, but many businesses haven’t spent the time to fully identify who their best customers are. What are their demographics? Where are they geographically? What is it about them that makes them share the same pain point your product or service can solve? If you can’t readily identify these characteristics, it may be more important for you to invest in some data-focused martech that will analyze these types of details, both from external and internal sources. Remember – you need to not just have analytics and measurement tools, but you need to use them regularly to synthesize this data and adjust your marketing efforts accordingly. What matters most to them? In 2018, content continues to be king, but it can’t be one-sided. And while video and multimedia play a more important role than ever before, if the messaging isn’t on point it doesn’t matter what the delivery mechanism is. To truly engage with your audience, you need to understand what makes them tick and tugs at their heart (and purse!) strings. Consider developing a persona of your target customer which reflects the type of person they are – both physically and emotionally. Are they old? Young? Cynical? Activists? Frugal? Philanthropic? Pet-lovers? Coffee-lovers? The more specifically you can describe that target customer, the better you can craft materials that will inform and engage them—and decide on the best channels to share them on, from the internet and social media to billboards, ads or PR. What is the decision-making process they go through to purchase your product or service? Again, this may seem obvious. Perhaps your prospects simply come to your place of business, interact with a salesperson, pay a transaction fee and walk out with your product or service. But what are the steps they take before that happens? Are they researching online? Using what? Review sites like Yelp or Angie’s List? Posting on Facebook to ask for referrals? Typing their need into the Google search bar? And even if they are currently coming in to your business to engage you, is that the most convenient option for them? Are there ways to streamline and simplify the purchasing process to delight them? For instance, prospective customers may—or may not—value a friendly reminder generated by an inbound marketing. Fully knowing this answer will allow you to make the right decisions about sales-focused martech options, as well as advertising and promotional ones. Do you have the infrastructure in place to not just sell, but service your customers? This is a stunningly important question, and one many businesses may fail to consider. Are you prepared for fast, significant growth? If not, you can either scale back marketing efforts or scale up operational capabilities. And what about service? Going back to the sales process, is your obligation to your customer fulfilled once they make that purchase? Probably not—at least not if you want to keep them coming back to you for future needs or to refer you to other prospective customers. There are many martech tools focused on management that can help ensure you have the systems in place to ensure that each an every customer is a satisfied customer and lifelong ambassador for your brand.s Although these questions may seem simple, the answers almost never are. If you need help facilitating the process, or are looking for a partner to help identify the best way to develop or execute your marketing strategy, give me a call at 410.420.2001 or email me at kathy.walsh@fallstongroup.com. I’d love to talk!
Can You Spot Fake News?
By Kathy Walsh, Director of Marketing Recently I attended the Public Relations Society of America’s International Conference in Boston and one of the sessions I attended focused on the topic of fake news. This post highlights some key takeaways shared by co-presenters Lisa Arledge Powell of Ohio-based MediaSource and Robert Mackle, Director of Media Relations for OSU’s Wexner Medical Center—but first, let’s take a look at what “fake news” truly means and why the term has become so popular. Fake news extends far beyond traditional media outlets such as newspapers and television. Today, more people than ever are getting their “news” from social media or social sharing sites where the sources are far harder to identify, verify and control. Fake news can be categorized as the following: Satire that is being misinterpreted as real news. Bait and click headlines that don’t reflect the facts. Legitimate mistakes. Intentionally deceptive content. Understanding each of these categories allow you to be 1) a more informed consumer of news, 2) a better resource to your followers by only sharing legitimate content and 3) more savvy in how you react and respond to any fake news surrounding your company or brand. One example the PRSA session presenters highlighted was a recent fake news story alleging that Budweiser was pulling its NFL sponsorship in light of the National Anthem controversy. Rather than denying the reports, Budweiser recognized an opportunity to engage with its audience and ask them directly whether the company should continue to support the NFL. The company set up a hotline for fans to voice concerns, and ultimately, based on fan feedback, decided to retain its sponsorship deal. Fear of fake news extends beyond the average news consumer – even today’s journalists are concerned. According to public relations and media software company Cision’s 2017 Global Social Journalism Survey, some 51 percent of respondents feel that fake news is a serious problem in their industry. According to Cision, not only are political reporters concerned, nearly half of those in the journalism profession worry about fake news, particularly those covering business and other industries. So, what can YOU do to be prepared to recognize and respond to fake news? Here are quick tips to help spot what’s real and what’s not: Read more than just the headline, which is designed now more than ever to hook you. Increasingly, some journalists are financially incentivized for the number of readers who click through to read the full article. Assess the legitimacy of the source. One simple tool I learned is “domain authority,” which is used to weight websites in search rankings and is tied to the number of inbound links to the site from other websites. You can find domain authority rankings from 1-100 (with 100 indicating the highest authority) on sites like Moz’s Open Site Explorer. By way of perspective, cnbc.com has a rating of 95 while Bloomberg.ma (set up to confuse people into thinking it’s the real Bloomberg site) has a rating of 1 and the excite247.com site shown above has a rating of 14. Keep an eye out for Facebook’s new context button announced earlier in October and being piloted right now. Users will see an ‘i’ button on articles in their News Feed that, when clicked, will reveal a publisher information panel with information on sources and an option to “follow the publisher’s page, view trending or related articles, and see how that article is being shared on the platform itself.” Use sites like Snopes.com to verify the accuracy of certain statistics, news and other facts. Snopes is one of the oldest and most reputable sites for statistical verification and is always a good place to start. Whether your company or brand is the target of fake news or if you don’t become one, feel free to reach out to me to discuss your concerns. I’ll make sure you have a plan in place to protect your reputational equity you’ve worked so hard to build. Your credibility and public trust depends on it! You can reach me at kathy.walsh@fallstongroup.com or by calling Fallston Group at 410.420.2001.
