Cone Communications has launched a social media and CSR product called the CSR SocialScore, which serves as a real-time snapshot of how a brand uses social media to inform and engage stakeholders.
The Boston-based public relations and marketing agency says the product helps companies equally measure their ability to “inform” and “engage” stakeholders:
Inform: This portion of the score looks at a company’s online CSR reporting and baseline CSR social media presence. Quantitative data is garnered through a variety of social media monitoring, research and analytics tools.
Engage: This portion surveys how a company is positioning its brand as a CSR thought leader, how it is engaging with top influencers and providing open opportunities for feedback or co-creation.
The Score is the summation of both quantitative and qualitative data, Cone says. The agency claims its nearly thirty years of experience makes it uniquely positioned to monitor and measure how companies are engaging with stakeholders on social media.
“Social Media is where the CSR conversation is happening. Brands need to meet stakeholders where they are,” says Jonathan Yohannan, executive vice president of Cone’s Sustainable Business Practices group. “It is no longer enough to be an offline CSR leader. Many of the most admired CSR leaders are not showing up online to meet and engage with consumers or other stakeholders.”
Nearly two-thirds of global consumers use social media to engage with companies around social and environmental issues, according to the 2013 Cone Communications/Echo Global CSR Study. Social media is breaking down geographic, economic and cultural barriers to provide an unprecedented and public view of how companies invest, operate and engage with stakeholders regarding social and environmental issues.
Another recent report by Cone claims consumers now expect companies to be an active participant — if not a driving force — in solving the most pressing social and environmental issues.