Banks and Businesses Must Prepare for Social Media Misinterpretations

The Reserve Bank of Australia (RBA) recently released a framework for additional monetary policy tools during a future crisis. The accompanying speech made it clear that this was preparation for a possible future event, not a warning that one was imminent.

However, the next day, a Facebook video spread a claim that the RBA was preparing Australians for a nationwide recession. This claim was later found to be inaccurate.

The problem is that most people won't read an 18-page monetary policy framework; they'll see headlines, watch short videos, or rely on someone else's explanation. The version that arrives first and makes sense will likely become the story.

To prepare for this issue, communications teams should now be asking another question: If this becomes a headline, screenshot, or 15-second video, what will people think we are saying?