One of the main reasons why businesses are still ‘scared’ to jump on the bandwagon and put themselves out there on social media platforms is because of the potential criticism and negative comments they might receive from users. Indeed, such negative reviews can be damaging to a company’s reputation, but hiding behind the scenes is no good either – these conversations are happening with or without the company’s involvement, so businesses might as well start participating in them to potentially change people’s minds, gather ideas how to improve their products and services and so drive the conversations into a positive direction.
Similar applies to negative media coverage. A new academic study coming from the US, Burr Under the Saddle: How Media Coverage Influences Strategic Change (registration required), shows that even though negative press is unpleasant and especially unwelcome by the C-suite, it can also influence strategic decisions to make significant company improvements. As the authors of the paper identify, “the media is neither an enemy nor an ally to upper management... but one of a number of key stakeholders that can significantly shift a firm’s direction, often for the better.”