The way you handle social media can make a big difference. (Rolf Vennenbrend / EPA)
The way you handle social media can make a big difference. (Rolf Vennenbrend / EPA)
The way you handle social media can make a big difference. (Rolf Vennenbrend / EPA)
The way you handle social media can make a big difference. (Rolf Vennenbrend / EPA)

The best way to take on cyberbullies? Be reasonable


  • English
  • Arabic

It’s no secret that social media has changed the way we interact with others. For the most part it’s been a good thing, enabling us to keep in contact with far-flung friends and happenings.

Facebook, Twitter, Instagram and their like are now the preferred means of sharing pictures of precious moments (or precocious pets) and posting links to favoured web destinations.

But social media has also become a forum for people to vent their spleens, often betraying their ignorance and bigotry in the process. We read almost daily how online bullying ruins people’s reputations and destroys lives.

It’s not just individuals who are targeted. Trolling is also a problem for corporations who use social media to promote their products by creating a conversation with their customers.

In Australia, the telecommunications company Optus had to cope with a barrage of online abuse after it put up signs written in Arabic in one of its stores. The criticism ranged in tone but centred on the belief that all advertising should be in English.

In the face of this, an online hero has emerged in the person of an Optus social-media specialist named Dan, whose speciality has become answering often-unreasonable comments in very reasoned terms. His calm manner and use of facts to take down racist trolls has endeared him to the greater online community.

When one commenter claimed that Australians speak English, Dan pointed to pre-colonial history, noting that “Australia is a nation full of languages, some 200 plus of them are native to Australia, but English is not one of those native languages”.

He went on to praise the contributions made to Australia by people from other cultures, including Greeks, Italians and Vietnamese.

And he promised that, although Optus had taken down the “offending” Arabic signs, it was because of threats made to its staff, not a change in policy. He promised: “We’ll be advertising on more flyers, in more languages, that we have staff who can welcome you in your own language.”

He answered a question about whether he was Muslim with: “I have no religious ties. but it would be an easy assumption to make since I openly display love and compassion, which are among the values of the Islamic faith.”

There has been some debate in Australia as to whether Dan is a real person or his responses are only the work of a particularly adept social-media team. One newspaper was told he wasn’t available for an interview, but nevertheless claims to have tracked him down – via Facebook.

Regardless of his identity, Dan offers a lesson in how companies should use social media.

More and more people use social accounts to praise companies who provide good service and to criticise those who don’t.

Some companies are grateful for your comments, and will like them or send a friendly reply. Others either don’t monitor what’s being said about them online, or can’t be bothered to respond.

As a customer, I feel slighted when I get no answer, and that affects my perception of the company and its brands.

All companies – except, perhaps, those who deal with elite clientele or who operate in a small geographic area – need a web presence; and most of them have to be available on social media too. But that can be fraught.

Thanking people for their praise, or handling their legitimate complaints about your product or service, is the easy part. The trick is to know how to deal with the inevitable trolls without losing your cool or damaging your brand. The general rule of online engagement is that if somebody is outright abusive, you deal with them at your own peril.

Some individuals choose to fight back, giving as good as they get – but that’s not very practical or advisable if you’re tweeting or posting on behalf of a business.

The best way to do it may be to realise that most people online are reasonable and will usually side with the reasonable, rational person over the troll.

It has certainly worked for Dan, who’s becoming something of a celebrity in his home country. There are even calls for him to be named Australian of the Year.

bdebritz@thenational.ae

On Twitter: @debritz

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Teaching your child to save

Pre-school (three - five years)

You can’t yet talk about investing or borrowing, but introduce a “classic” money bank and start putting gifts and allowances away. When the child wants a specific toy, have them save for it and help them track their progress.

Early childhood (six - eight years)

Replace the money bank with three jars labelled ‘saving’, ‘spending’ and ‘sharing’. Have the child divide their allowance into the three jars each week and explain their choices in splitting their pocket money. A guide could be 25 per cent saving, 50 per cent spending, 25 per cent for charity and gift-giving.

Middle childhood (nine - 11 years)

Open a bank savings account and help your child establish a budget and set a savings goal. Introduce the notion of ‘paying yourself first’ by putting away savings as soon as your allowance is paid.

Young teens (12 - 14 years)

Change your child’s allowance from weekly to monthly and help them pinpoint long-range goals such as a trip, so they can start longer-term saving and find new ways to increase their saving.

Teenage (15 - 18 years)

Discuss mutual expectations about university costs and identify what they can help fund and set goals. Don’t pay for everything, so they can experience the pride of contributing.

Young adulthood (19 - 22 years)

Discuss post-graduation plans and future life goals, quantify expenses such as first apartment, work wardrobe, holidays and help them continue to save towards these goals.

* JP Morgan Private Bank 

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