Your digital channels are a vital part of the communications mix, and are more important than ever in deepening engagement with your stakeholders. You can directly influence what investors think and their investment decisions; attract the best talent, and provide useful resources for the media.
Every year we conduct an in-depth analysis of corporate websites, exploring the latest trends, features and content to assess how well they are delivering to the needs of each stakeholder group. This year we have extended the analysis to include social media and the interconnectedness of your digital ecosystem.
The Digital Index gives us unique insights to help you understand how well your digital communications are bringing your story to life and how effectively they are deepening stakeholder engagement - and how well you stack up against your peers and best practice.
To give a complete view of your digital communications we examine three key pillars.
The first is the corporate website, which is at the heart of your 'owned' digital channels. The one place in which you can craft your value creation story, and THE digital destination for all of your stakeholder groups. Rooted in a deep understanding of your target stakeholders, we assess over 200 metrics across both content and the experience you deliver.
Second we explore social media, the way social media is used to reach and engage your stakeholder groups and the richness of the content you publish.
Thirdly, as your stakeholders can engage with you at any time across any of your communications channels, we examine how interconnected your digital ecosystem is and the consistency of your messaging and creative identity across these channels.
An effective website requires two key ingredients. The first is quality, relevant and timely content. So we assess the completeness, consistency, and clarity of content and how well it meets the needs of different stakeholders. The second is the experience through which this content is delivered, and so we assess creativity and desirability, usability of the site and the findability of content. Across these two dimensions we look at approximately 200 different metrics.
We also use analytics to understand what stakeholders are looking for, and to help shape our assessment and prioritisation of the content. This places a 'real-world' overlay onto the analysis we do.
The resultant mix is a unique insight into corporate websites and how we can make them work even harder to serve your purpose.
We have reviewed social media use across the FTSE, which channels are used, for which type of content and how this is designed to engage different stakeholder groups.
There are of course marked differences between the different types of organisations and their communications priorities - such as those with a B2C brand. The results give fascinating insights into the growing use of social media at a corporate level and how it is driving more effective communications to reach and engage a broader stakeholder audience.
We have also reviewed how well companies are delivering a connected ecosystem. Stakeholders can engage with your across all of your digital channels, and consistency of messaging is key to successful communications. We have reviewed how well companies interconnect their channels, and whilst recognising that each channel and audience has different priorites, we have examined whether these channels communicate who they are and their unique difference consistently and coherently.
We have conducted analysis of websites for 8 years, and this year we broadened the analysis to cover social media and the wider ecosystem. Over these past 8 years we have seen a transformation of how digital channels are leveraged. 8 years ago corporate websites in particular were more a repository of information. Then we saw a shift as the more advanced digital companies started to use their websites to provide deeper information on the company, and to address more of the stakeholders needs. Over the past 2 years we have seen a focus on articulating 'Purpose' - why a company exists and how it delivers value to each stakeholder group. Increasingly the content for each stakeholder group has been driven from that purpose.
This year we have seen a marked shift to go beyond purpose. Now companies are focused on not only communicating their value creation story, but in bringing this to life - evidencing how they are living their purpose and sharing the outcomes and positive contributions to its stakeholders.
There have been 3 marked trends in how companies are better communicating their corporate story:
1. Significant increase in a narrative approach, focussed on each stakeholder group. Providing a 'Golden thread' of content that addresses each stakeholder group's priorities. Whereas in past years users have had to navigate their way across a website to find the content, now the content is surfaced for them in this Golden thread.
2. Investing in story telling content. Companies are increasingly using case studies, stories, insights and blog articles to bring their story to life and to deepen stakeholder engagement. This content is also being used to reinforce their unique point of difference and evidence their leadership.
3. Delivering an enriched experience. Across all channels organisations are looking to deliver a more enriching user experience. Greater use of film and ambient videos, continual improvements in imagery selection and quality; use of interactive features and elements to extend engagement; and providing the ability to read, listen or watch content in recognition of both diverse audiences and how they prefer to consume content.
We have assessed how companies are using social media - at the corporate level, and the stats speak for themselves. There is a continued rise year on year of the use of social media - with each channel of course focused on the appropriate stakeholder audiences.
Unsurprisingly LinkedIn is used now only for corporate and investor information but is harnessed for its power to attract potential employees (and deepen engagement with current employees). But is also used to communicate sustainability content as this moves centre stage in the corporate narrative for all stakeholder groups.
Despite turbulent times, Twitter continues to be seen as predominantly a news channel for corporate, investor and sustainability content.
Instagram is centred on people stories and its power to tell brand and products stories.
We have also explored the interconnectedness and consistency of corporate digital channels. How consistent the narrative of the company is across channels, and how well the different channels are interlinked.
Overall we have seen improvements - however there is more work to be done in delivering a consistent narrative of the company, what it does and its unique points of differentiation!
Your digital channels are vital in reaching, engaging and inspiring your stakeholders. If you want to find out how yours stacks up against best practice and what your peers are doing, why not ask us for an assessment?
We will analyse your digital channels - website, social media and your wider digital ecosystem, assessing the content and the experience you deliver, and we will provide specific recommendations on improvements you should make.
We can also provide an analysis against named peers.
Black Sun is a global group of strategic advisors, consultants and stakeholder engagement specialists. We believe that brands and businesses can have a big impact on our society – they can shape more ethical practices, build more inclusive communities and deliver more sustainable performance. Ultimately, they can spark positive change in the world.
We partner with visionary companies to define and communicate their purpose, strategy and culture and bring to life their value creation story. Our services and solutions directly address the business-critical concerns of today; best-practice disclosure and accountability through reporting; protecting reputation and building trust with digital communications and helping businesses to effectively communicate their long-term responsibility and sustainability story.
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