At the risk of appearing Townsville centric since the last column I wrote we have had rain! Not only that but the Dam has risen to 87% full, the last time it was this high (or higher) was in April 2014 almost four years ago. I am now told to expect a rise in business confidence in our region as that often follows periods of sustained drought in our region. I must admit my family has done the obligatory trip to the dam to see all the water and I have also viewed it from the air on return flights from Cairns. 

Being a long-term observer, researcher and commentator on behaviour on social media it came as no surprise that while our lawns were still saturated there were calls on social media to lift current water restrictions and strong criticism of the council for not doing so immediately, even when we did not know how full the dam would get.

I did check the facts for myself, and while now no expert, I do understand more about the black art of dam management (to use a Harry Potter term). It seems two things were happening: (a) given it is the largest earth wall dam in Australia – it had been dry so long that there was concern about its safety (now resolved I believe) and (b) the turbulent flood waters were very muddy and time was needed for it to settle. It seems now some forward planning has also been done with our meagre 87% to try to ensure it lasts until the new pipeline is completed.

Social media can be a powerful tool to allow interest groups to rally around specific causes, it can also be a divisive tool in the wrong hands. Online bullying is one of the outcomes of the misuse of social media that we see today, when previously bullying stopped at the school gate it can now follow a student home with devastating consequences as we have seen in recent media and campaigns to stamp out cyber bullying.

We also see consumers using social media to launch campaigns against corporations as well, most famously has been against Nestle and the use of palm sugar in its Kit Kat product. Briefly the issue was that forest habitat was being cleared to produce sugar that was being used in confectionary products such as Kit Kats. There were negative comments made on Facebook and they were either removed or received negative comments from the company; resulting in a movement being created against Nestle and the company, in the end, ensuring that palm sugar was no longer used in the product. Today when you look at the back of a Kit Kat there is a statement saying that no palm sugar is being used.

“Companies must be mindful how they react to consumers, especially negatively, on social media.”

Companies must be mindful how they react to consumers, especially negatively, on social media. A small, but active, group of individuals has the ability to negatively impact the brand’s impression in many eyes. Often satisfied customers will support brands being attacked on social media, but the company’s online reaction is there for all to see. Deleting, arguing or other such defensive actions can often have the opposite of the intended effect. Unfortunately, there is no one correct answer, each situation has to be dealt with independently and what may be correct for one situation may not work for another.

Having been trolled recently on social media I can tell you it can be an unpleasant experience, as it can be for corporates who are the target of such attacks. My advice is not to react instantly and to consider all possible reactions (starting with ignoring and not responding in any way), this approach can allow you to seek advice and consider any response clearly as you would any business decision.

I notice since my last article Bitcoin has dropped another 22% bringing the total drop since the December high of close to 60%. Since writing about a property seller accepting Bitcoin for payment I have subsequently seen other sellers advertising, luxury cars being one. While most cryptocurrencies have been falling in recent days (as I write this article), and despite what I wrote in the last article, I certainly believe that money, as we know it, is likely to change in the future. It is something we must all keep our radar out on, and while be wary of new financial mediums be cognisant to the idea that money, as we know it, may well be on the way out.

jcu.edu.au