Maybe not such a star and with a load of bucks!

At this time of year there’s nothing quite so yummy as visiting that most well known of coffee shops and ordering in quite some detail, the exact concoction that will set you up for the day. But think on as you walk out the door and pass one of the most famous logos on the planet. Even the smartest of brands can come unstuck and so along with Google and Amazon, Starbucks is now in the firing line for not contributing quite as much as expected to HMRC’s coffers. Just for the record, in 2011 Starbucks sales in the UK were in the region of £3.35 billion and yet only had a reported ‘tax expense’ of £1.8m. In the past, company tax matters were normally relegated to the business section of the media. However all that has changed in recent years. Some may say it’s because of the recession we’re in, that the public feel more of an injustice. Or maybe it’s the politicians who have realised that speaking out on this subject is a vote winner. However the game changer in all of this is the power of social media. Once you’ve got social groups tweeting #boycottstarbucks, you know as an organisation you’ve got a bit of a problem. As with all major companies they spend squillions on reputation management and protecting their brand. But once your customer starts to question their loyalty to the brand, it’s very hard to win back their trust. This maybe why Starbucks are now in talks with HMRC to look at changing the way it operates!

This is a great example of why understanding social media is so important. Our social media training courses can really help to explain why this type of media is such a powerful tool to promote a product or service. Any organisation big or small should be monitoring and engaging with the blog and twittersphere in order to keep ahead of the game. Social media has no boundaries so your credibility can be won or lost by just one click. If you don’t know what people are saying about you, then it’s very easy to look disconnected and out of touch with your audience. Social media is here to stay and its power to influence is getting ever stronger.

So what to do - well don’t panic – but do get involved. It really is a very quick, easy and cost effective way to promote your brand and test the mood of your audience. You don’t have to be a huge corporation to grasp the social media nettle. By learning how to monitor, engage and participate on this information rollercoaster you can become much more efficient at managing the message and protecting your company’s reputation. Now where was I  - ah yes, a skinny latte to go please.

If Sharon has inspired you to get involved in social media why not start right here and now and leave a comment below. Why do you think the news agenda has shifted so corporate tax evasion is front page news? What social media tips do you have for your fellow communications professionals? What companies do you think are getting it wrong or right?