Social media offers a number of important benefits to both users and organizations that maintain a social media presence. For example, users benefit from the use of social media by having a ready source of current information, being able to share views, and partnering with like-minded individuals. Organizations benefit by building a following among current and prospective customers, gaining competitive advantage by being perceived as thought leaders, and sharing information in ways that would not otherwise be possible using conventional communication channels. Despite the many benefits of social media for both users and organizations, there are two primary risks associated with it:
• Users can send business records, confidential information or racially or sexually offensive content using social media tools in violation of the law, legal best practice or corporate policies.
• Users can generate content using social media that needs to be preserved according to corporate and regulatory retention requirements – but often is not.