Social Media and Communications Strategy 2022
Social Media and Communications Strategy
Communications, Media Relations and Social Media Strategy
Date: May 22–25, 2023
Time: 9am-1pm (EDT) | 2pm-6pm (BST) | 9pm-1am (SGT)
Location: Virtual
Chair: Marek Petruš, central bank communications consultant, and former director of the general secretariat, Czech National Bank
Key issues the course will address:
- How can central banks rebuild credibility as inflation fighters?
- How can digital and social media be effectively combined with traditional communications tools?
- How can central banks track and measure effectiveness when communicating with different audiences?
A central bank’s stock in trade is credibility. It is this quality that empowers policy making. This is no more apparent than in 2023 as central banks grapple with rising inflation, policy rates and market volatility.
Yet communication is changing too. Central banks have had to rapidly adapt and explore new tools and tactics, including social media. This means that they must balance retaining an identity as a prudent, responsible institution with changing their image to be perceived as less of ‘a dinosaur’.
Increasingly, central bankers recognise the need to explore synergies between traditional communication tools and those of the digital era.
This course is designed to equip central bankers to meet these challenges. Each day will feature three hours of expert-led Live Content to maximise the opportunity to share and learn. The chair will ensure participants have opportunities to network throughout the course, with time set aside for a workshop on implementing key learnings.
Agenda
Two weeks prior to your training course you will be emailed access to our content hub with course materials, including a trial to Central Banking if you are not already subscribed. There will be a combination of articles, reports and presentations that will contribute to two hours of preparation time for the live content. Presentations for the sessions will also be held here subject to the speaker approval.
Lessons learned from 2022 and the pandemic.
13:00 – 13:30
Social Media and Communications Strategy Course Introduction
Course introduction session led by the chair
13:00 - 13:30
- Introductions and welcome from the chairperson
- Overview of the training course
- Discussion of the delegate expectations
Marek Petruš
Central bank communications consultant and former director of the general secretariat
Former Czech National Bank
Marek Petruš is an external relations consultant with deep expertise in financial and economic policy communications. He has worked closely with top monetary policymakers as a strategic advisor to governors in the Czech Republic as well as more than a dozen low-to-middle income developing countries. He has been affiliated with the International Monetary Fund as a short-term expert for central bank communications, advising central banks across Eastern Europe, Asia, and Africa to make their policies more transparent and on modernising their communications. His expertise and experience stems from an assignment as Director of Communications and later chancellor at the Czech National Bank (CNB), preceded by a career with the world’s leading news media companies, including Reuters and the Wall Street Journal. During his tenure, the Czech central bank upgraded its policy communications and brought its transparency and communication toolkit into line with global best practices. These advances helped solidify the CNB’s standing as one of the world's most transparent and best communicating central banks.
13:30 – 14:30
The media in 2022: new dynamics, challenges and opportunities
14:30 - 15:30
- Key factors, themes and dynamics shaping the media environment in 2022
- New roles and responsibilities of the communication officials in central banks
- Overview of unavoidable risks, critical challenges and emerging opportunities
- Discussion of the relationship between the execution of communication strategies and the performance of central banks’ functions and mandates
14:30 – 14:45
Break
12:45 - 13:00
14:45 – 15:45
Macro-prudential policy communications: the brave new world of central bank communications
06:15 - 06:45
- Communication challenges stemming from the growing importance of financial stability, or macro-prudential, policies
- Disparate goals of communications on price stability and financial stability
- Similarities between monetary policy and macro-prudential communication toolkits
- Tips for overcoming challenges for clear and open communication
Marek Petruš
Central bank communications consultant and former director of the general secretariat
Former Czech National Bank
Marek Petruš is an external relations consultant with deep expertise in financial and economic policy communications. He has worked closely with top monetary policymakers as a strategic advisor to governors in the Czech Republic as well as more than a dozen low-to-middle income developing countries. He has been affiliated with the International Monetary Fund as a short-term expert for central bank communications, advising central banks across Eastern Europe, Asia, and Africa to make their policies more transparent and on modernising their communications. His expertise and experience stems from an assignment as Director of Communications and later chancellor at the Czech National Bank (CNB), preceded by a career with the world’s leading news media companies, including Reuters and the Wall Street Journal. During his tenure, the Czech central bank upgraded its policy communications and brought its transparency and communication toolkit into line with global best practices. These advances helped solidify the CNB’s standing as one of the world's most transparent and best communicating central banks.
15:45 – 16:00
Break
12:45 - 13:00
16:00 – 17:00
A policymaker’s perspective: Talking about inflation, interest rate, forex to strangers (younger generations)
16:00 - 17:00
- Czech National Bank: All in one
- Regulation and customer protection
- Financial literacy or financial perplexity
- More transparency and simplicity please
- Twins: FinTech and ComTech
Tomáš Nidetzký graduated from the Faculty of Informatics and Statistics at the University of Economics in Prague and completed his postgraduate studies at Oklahoma City University in the USA. He started his career at the Czech Securities Centre. From 1995 he worked as assistant to the Chief Financial Officer of Komerční banka. In 1997 he joined Česká spořitelna, where he worked as director of strategic planning and financial group management until 1999. In 1999 he was appointed Chairman of the Board and Chief Executive Officer of Penzijní fond České spořitelny and from 2000 he was Chairman of the Board and Chief Executive Officer of Pojišťovna České spořitelny.
From 2003 he was a member of the Executive Board and Executive Director in charge of retail financial services at ING in the Czech Republic and the Slovak Republic. In 2004–2010 he worked as Deputy Chairman of the Board and First Deputy Chief Executive Officer of Stavební spořitelna České spořitelny. In 2011–2013 he was director of internal distribution at ČSOB Pojišťovna. Since 2013 he has worked as Chief Sales Officer at NN Czech Republic. In 1999–2004 he was a member of the presidium of the Association of Pension Funds of the Czech Republic and of the Czech Insurance Association.
Communication in practice: combining new and tested tools to contextualise messages
13:00 – 14:00
Maintaining a social media presence: latest trends in focus
14:15 - 15:15
- The role of social media presence in central bank communication framework
- Overview of key opportunities and risks to be aware of
- Tips for aligning social media strategy to central banks’ organisational mandate
- Examples of the plain language uses and applications
Oda Faremo Lindholm is an economic historian and works as a senior advisor and community manager in Norges Banks department of communication and external relations. Prior to working in Norges Bank, she worked as a journalist in several different Norwegian newspapers, and as a researcher at Norway’s public broadcaster, NRK. At NRK she also worked extensively with content production to some of NRKs biggest social media profiles. She has also published a successful book (in Norwegian) about critical interaction with social media, called “Bullshitfilteret” (The bullshit filter) .
14:00 – 14:15
Break
12:45 - 13:00
14:15 – 15:15
"A little more conversation and a little less action”: the role of plain language
12:00 - 12:45
- Roles and applications of plain language in central banks’ communication
- ‘Tricks of the trade’ for effectively translating technical terms into everyday language
- Overview of key challenges and how to overcome them
- Case study: systemic approach to plain language in Sveriges Riksbank
Marianne Sterner has worked as plain language consultant at Sveriges Riksbank, the central bank of Sweden, for fourteen years. She is part of the strategy group within the Communications Division, which has the task of planning the Riksbank’s communication and adapting it to its various target groups. Marianne has a combined BA degree in Swedish and French and has 35 years of experience as a freelance plain language consultant, mainly in the public sector.
15:15 – 15:45
Networking break
15:30 - 16:00
15:45 – 16:45
In search of excellence in websites and digital platforms
15:45 - 16:45
- The unique value of websites and digital publications as communication tools
- Key features of an effective management of the website: setting goals; understanding audiences and their needs; usability tests (demo)
- Examples of effective delivery of announcements, speeches, data and research to the general public and banking professionals
- Case study: Measuring impact - the journey from web metrics to communications impact reporting
Christian Beslmeisl is the Deputy Head of Communications at the Bank for International Settlements (BIS). His team is responsible for the BIS’s website, www.bis.org, its Social Media channels, intranet and for visual communications services. Christian joined the BIS as a Senior Business Analyst in 2002 and in this role was responsible for developing the BIS’s intranet. He has held increasingly responsible positions at the BIS, including Head of Publishing. Prior to joining the BIS, Christian worked for the Deutsche Bundesbank, with his last position being deputy team leader of the eCollaboration team. Christian holds a degree from the Deutsche Bundesbank University of Applied Sciences
Embracing technologies to reach wider audiences
13:00 – 14:00
Workshop part 1: making the most of policy press releases and media presentations
13:00 - 14:00
- Introduction
- Group exercise and task 1 – distributed to attendees prior to the workshop
- Group presentations
Marek Petruš
Central bank communications consultant and former director of the general secretariat
Former Czech National Bank
Marek Petruš is an external relations consultant with deep expertise in financial and economic policy communications. He has worked closely with top monetary policymakers as a strategic advisor to governors in the Czech Republic as well as more than a dozen low-to-middle income developing countries. He has been affiliated with the International Monetary Fund as a short-term expert for central bank communications, advising central banks across Eastern Europe, Asia, and Africa to make their policies more transparent and on modernising their communications. His expertise and experience stems from an assignment as Director of Communications and later chancellor at the Czech National Bank (CNB), preceded by a career with the world’s leading news media companies, including Reuters and the Wall Street Journal. During his tenure, the Czech central bank upgraded its policy communications and brought its transparency and communication toolkit into line with global best practices. These advances helped solidify the CNB’s standing as one of the world's most transparent and best communicating central banks.
14:00 – 14:15
Break
12:45 - 13:00
14:15 – 15:15
Workshop part 2: making the most of policy press releases and media presentations
14:15 - 15:15
- Group exercise and task 2 – distributed to attendees prior to the workshop
- Group presentations
- Group exercise and task 3 – distributed to attendees prior to the workshop
- Group presentations
- Conclusion and key takeaways
Marek Petruš
Central bank communications consultant and former director of the general secretariat
Former Czech National Bank
Marek Petruš is an external relations consultant with deep expertise in financial and economic policy communications. He has worked closely with top monetary policymakers as a strategic advisor to governors in the Czech Republic as well as more than a dozen low-to-middle income developing countries. He has been affiliated with the International Monetary Fund as a short-term expert for central bank communications, advising central banks across Eastern Europe, Asia, and Africa to make their policies more transparent and on modernising their communications. His expertise and experience stems from an assignment as Director of Communications and later chancellor at the Czech National Bank (CNB), preceded by a career with the world’s leading news media companies, including Reuters and the Wall Street Journal. During his tenure, the Czech central bank upgraded its policy communications and brought its transparency and communication toolkit into line with global best practices. These advances helped solidify the CNB’s standing as one of the world's most transparent and best communicating central banks.
15:15 – 15:45
Networking break
15:30 - 16:00
15:45 – 16:45
Central Banks and Social Media: The Why, The How, and What`s Next
13:00 - 13:45
- Why using social media has become almost a requirement for central banks
- A look at best practices for central banks
- Where do we go from here, and pitfalls to avoid
Paul Badertscher has been associated with the Bank of Canada for roughly 25 years – earlier as a journalist with agencies Bridge News and Bloomberg News, and later as the Bank’s head speechwriter and now as Director of Media Relations. Over that time, he’s lived through a revolution in central bank transparency. He’s gone from the era where central banks barely tolerated reporters and said as little as possible to today, when central banks are working hard to reach key stakeholders and the public with their messages.
Paul has a Bachelor of Arts Degree from Carleton University in Ottawa and a Master of Journalism degree from Western University in London, Ontario.
Fabiola holds an honours degree in Communications from the University of Ottawa and has over a decade of experience in digital communication. Her career includes roles at the International Development Research Centre, the Canadian Food Inspection Agency, and now the Bank of Canada. She uses her expertise in storytelling and strategy to craft messages that resonate with diverse audiences.
Improving communication and engagement
13:00 – 14:00
Crisis communication as the (new) normal
15:45 - 16:45
- Examples of “crisis communication” to the markets via different tools and channels
- Overview of successful strategies and steps to be avoided
- Implications for relationships with external consumers such as journalists as well as for internal coordination within a central bank
- Crisis communication based on real life scenarios
Volodymyr Lepushynskyi
Director, monetary policy and economic analysis department
National Bank of Ukraine
In 2004, joined the National Bank of Ukraine (NBU) on the position of economist responsible for forecasting money market performance. From 2008 to 2019, worked as the Head of Unit, Deputy Head of Division, Head of the Division for Monetary Policy Strategy, Deputy Director of Monetary Policy and Economic Analysis Department. In December 2019, was appointed as a Director of Monetary Policy and Economic Analysis Department. Has contributed to implementing inflation targeting regime in Ukraine, elaborating strategic documents on monetary policy and developing a rules-based monetary policy framework.
Graduated from Kyiv National Economic University with MA degree (with honors) in Finance (2004). Holds a Ph.D. in Economics from Ukrainian Academy of Banking. Has published extensively on monetary, macroeconomic, and modeling issues.
14:00 – 14:15
Break
12:45 - 13:00
14:15 – 15:15
Communication with general public: core elements and challenges
12:00 - 12:45
- Why are we talking about communication with the general public?
- How do we define our target groups?
- What live communication formats are available at the Bundesbank?
- Now it’s your turn: design a new event with a focus on increased dialogue with your guests
Astrid Lipfert
Deputy Head of Press and Public Relations Division, DG Communications
Deutsche Bundesbank
Within the DG Communications at Deutsche Bundesbank Astrid Lipfert is the Deputy Head of Press and Public Relations Division. Her team is responsible for strategic issues of the department, direct communication with the general public, regional communication activities and Bundesbank’s art collection. Astrid has been working at Deutsche Bundesbank for 20 years. She has held several positions in different departments including leading the website team and senior adviser to the Director General Communications. Astrid holds a degree in Central Banking from the Deutsche Bundesbank University of Applied Sciences and a degree in Business informatics.
15:15 – 15:30
Break
12:45 - 13:00
15:30 – 16:15
Communications closing remarks and delegate action plans
15:30 - 16:15
Concluding session led by the chair
- Summary of the course
- Discussion of the observed trends and case studies
- Application of learning points in the delegates’ home organisations
- Preparation of action points
Marek Petruš
Central bank communications consultant and former director of the general secretariat
Former Czech National Bank
Marek Petruš is an external relations consultant with deep expertise in financial and economic policy communications. He has worked closely with top monetary policymakers as a strategic advisor to governors in the Czech Republic as well as more than a dozen low-to-middle income developing countries. He has been affiliated with the International Monetary Fund as a short-term expert for central bank communications, advising central banks across Eastern Europe, Asia, and Africa to make their policies more transparent and on modernising their communications. His expertise and experience stems from an assignment as Director of Communications and later chancellor at the Czech National Bank (CNB), preceded by a career with the world’s leading news media companies, including Reuters and the Wall Street Journal. During his tenure, the Czech central bank upgraded its policy communications and brought its transparency and communication toolkit into line with global best practices. These advances helped solidify the CNB’s standing as one of the world's most transparent and best communicating central banks.
Learning outcomes
At the conclusion of the training, participants will be able to:
- Identify pathways for clear and open communication with different stakeholders
- Balance social media use with traditional communication tools and channels
- Gain insight into how to talk about key emerging issues including CBDC and climate change
- Develop measurement matrixes and understand how to respond to key indicators
- Create a crisis communication plan based on real life examples
Chair
Marek Petruš
Central bank communications consultant and former director of the general secretariat
Former Czech National Bank
Marek Petruš is an external relations consultant with deep expertise in financial and economic policy communications. He has worked closely with top monetary policymakers as a strategic advisor to governors in the Czech Republic as well as more than a dozen low-to-middle income developing countries. He has been affiliated with the International Monetary Fund as a short-term expert for central bank communications, advising central banks across Eastern Europe, Asia, and Africa to make their policies more transparent and on modernising their communications. His expertise and experience stems from an assignment as Director of Communications and later chancellor at the Czech National Bank (CNB), preceded by a career with the world’s leading news media companies, including Reuters and the Wall Street Journal. During his tenure, the Czech central bank upgraded its policy communications and brought its transparency and communication toolkit into line with global best practices. These advances helped solidify the CNB’s standing as one of the world's most transparent and best communicating central banks.