Social Media – the risk vs the opportunity
Anyone who still thinks social media is a fad is living in the dark ages and so is their business. It is proving its worth ten times over and engaged online communities are proving the best company endorsement money can’t buy.
For anyone who knows me and our Gen Red team you will know how passionate we are about online campaigns enhancing traditional offline communications. The opportunities are endless, but they aren’t without risk.
Brisbane law firm Rostron Carlyle Solicitors conducted a national survey into the perceived risks of social networking to organisations and were concerned to find most employers were ill-equipped to protect themselves against employee misuse.
Queensland’s leading legal expert on social networking, corporate IT lawyer Malcolm Burrows of Rostron Carlyle said while 76 per cent of respondents claimed they used social networking sites while at work, 54 per cent also said their work place did not have a social media policy.
“Social media comes with serious risks, such as loss of confidential information, breach of copyright and privacy, discrimination, defamation and even infringement of industry specific legislation,” Mr Burrows warned.
“55% of companies fear social media will affect their business reputation.”
But what are companies doing about it?
Whether you are raising awareness of your brand through the media, or building an online community of devoted followers you are playing with fire and yes there are risks and uncontrollable elements. But the biggest risk is not getting in the game at all, the damage that could occur online that you aren’t managing and the market share your competitors will be stealing from you if they are engaging with your customers and you aren’t.
Know what the perceived hazards are to your business and have plans in place to combat that should it arise. We have crisis communications plans in place for traditional forums, why not the internet also?
Have a social media workplace document built into your induction and contract stages to protect your firm and be a leader in the way the business world is moving.
Like anything worth doing in life, the risks are there, but does the risk outweigh the massive opportunity you have at your finger tips?
The answer is no. So if you still aren’t engaged, take the step today.
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Crisis Communications and Social Media platforms work very well together afterall timely information is key.
See how Kelloggs (US) fared with online crisis communications during the recent cereal recall – the lessons are clear for all communicators.
http://bit.ly/cGpbif
Cheers,
Hi Fleur
The fact is customers and prospects are talking about our business regardless, so we may as well be involved in the conversation.
You’re right, the biggest barrier is fear. Quickly followed by “How do we manage it? And Who.”
The first thing we suggest with clients is to set-up a ‘Listening Station’. Start by listening to what people are saying about us, our business category, our competitors and our clients.
Think of it as market research. Once you have a better understanding of the conversations that are taking place, you’re then better placed to establish the right strategy, as well as answer the tactical questions about ‘How and Who’.
We have an online course called “Social Media Pro”, that’s been specifically designed for small business owners. It demystifies social media, and provides a practical program to help set-up their Listening Station, and then design a program that’s right, and most importantly, keep it manageable. You can find out more here… http://boosthq.com.au/diy-products-2/social-media-pro
Maybe it’s time we stopped calling it social media, and started thinking of it as just another marketing channel. It might help reduce the fear factor!
Indeed! Social media should be a permanent part of a crisis communications plan now days. Whether the crisis was borne of social media or relates to another area of business it is a great tool to communicate quickly and effectively with your followers and the community.
When not managed effectively, social media can be the catalyst that can cause an issue to become a crisis. This can have an adverse impact on reputation, organisational effectiveness and profit.
We have a great link on our site that gives tips on how to use social media to your advantage and manage risks at the same time. Go to http://www.adarnaconsulting.com.au/help/Socialmedia.html