Risk & Reward In Social Media

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How to assess Risk versus Reward in Social Media, how to mitigate risk where it is present and how to determine what level of control your organisation wants over its messaging in Social Media.

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Risk & Reward In Social Media

  1. 1. Risk and Reward in Social Media
  2. 2. or… …how do we control the message in Social Media, what is the risk of getting involved and when is this risk outweighed by the risk of not getting involved? © Daemon Group 2008 www.daemondigital.com
  3. 3. What’s on the agenda • A short history of the world • What is the risk … and how can we evaluate it? • How to manage, or mitigate, risk in Social Media • How much does it really matter if you get it wrong? • Controlling your message … or have you ever? • Key person risk, who should engage and why? • Approaching the tipping point? © Daemon Group 2008 www.daemondigital.com
  4. 4. The opportunity in context 29.8m 61.0m 0.26m 5.4m 17.8m 3.7m 72.9% 5.1m © Daemon Group 2008 www.daemondigital.com Source: UM Wave 3
  5. 5. Social Media users by global region 5.20% 9.17% 34.55% 22.61% 28.47% Asia Pacific Europe North America Latin America Mid East/Africa Based upon unique visitors in June 2008 © Daemon Group 2008 Source: comScore World Metrix www.daemondigital.com
  6. 6. Social Media 62% 47.4% read post 29.0% write 77.0% Imagery Blogging watch No14 28.2% Micro Sydney* Video upload blogging Podcasting RSS 24.6% 40.2% feed listen Forums Widgets Chat Networks 74% message 21.1% belong © Daemon Group 2008 Source: UM Wave 3 *Twitter Grader www.daemondigital.com
  7. 7. © Daemon Group 2008 www.daemondigital.com
  8. 8. Normal distribution of technology adoption © Daemon Group 2008 www.daemondigital.com
  9. 9. Early adoption © Daemon Group 2008 www.daemondigital.com
  10. 10. Standard extended lifecycle © Daemon Group 2008 www.daemondigital.com
  11. 11. © Daemon Group 2008 www.daemondigital.com
  12. 12. © Daemon Group 2008 www.daemondigital.com
  13. 13. © Daemon Group 2008 source: thepaisano.wordpress.com www.daemondigital.com
  14. 14. © Daemon Group 2008 www.daemondigital.com
  15. 15. © Daemon Group 2008 www.daemondigital.com
  16. 16. Traditional definition of risk Risk = probability x impact Risk = (probability of an event occurring) x (impact of event occurring) © Daemon Group 2008 www.daemondigital.com
  17. 17. Risk in information systems • The probability that there is a threat; • The probability that there are any vulnerabilities; • The potential impact on the business © Daemon Group 2008 www.daemondigital.com
  18. 18. Risk in information systems • The probability that there is a threat; Someone who could attack the organisation • The probability that there are any vulnerabilities; The susceptiblity to attack, or what could be used against the organisation • The potential impact on the business What damage could be caused by the attack © Daemon Group 2008 www.daemondigital.com
  19. 19. Definition of risk in information management Risk = threat x vulnerability x impact © Daemon Group 2008 www.daemondigital.com
  20. 20. Risk profile of engagement Use Social Media to listen Use Social Media to ask questions Use Social Media to extend your contacts Use Social Media to drive your existing contacts Use Social Media to sell your IP Use Social Media to sell your services © Daemon Group 2008 www.daemondigital.com
  21. 21. Binary risk profile of Social Media Threat Vulnerability Impact Risk Listen 0 0 0 0 Ask questions 0 1 0 0 Extend contacts 1 1 1 1 Drive contacts 0 1 1 0 Sell intellectual property 1 1 1 1 Sell products or services 1 1 1 1 © Daemon Group 2008 www.daemondigital.com
  22. 22. Risk profile of engagement Use Social Media to listen Use Social Media to ask questions Use Social Media to extend your contacts Use Social Media to drive your existing contacts Use Social Media to sell your IP Use Social Media to sell your services © Daemon Group 2008 www.daemondigital.com
  23. 23. © Daemon Group 2008 www.daemondigital.com
  24. 24. Definition of risk in Social Media Risk = threat x vulnerability x impact engagement © Daemon Group 2008 www.daemondigital.com
  25. 25. Definition of risk in Social Media Risk = Kohnstamm x reputation x sales Credibility/Thorn Tree © Daemon Group 2008 www.daemondigital.com
  26. 26. 95 video results on You Tube 0 video responses from Taco Bell 1.2 million view to first video alone Taco Bell response on website 2,975 comments to first video alone 0 comments from Taco Bell Rats Take Over KFC/Taco Bell © Daemon Group 2008 www.daemondigital.com
  27. 27. Social Media engagement © Daemon Group 2008 www.daemondigital.com
  28. 28. Social Media engagement model © Daemon Group 2008 www.daemondigital.com
  29. 29. Social Media engagement model © Daemon Group 2008 www.daemondigital.com
  30. 30. Controlled ADVERTISING Monologue Dialogue © Daemon Group 2008 www.daemondigital.com Uncontrolled
  31. 31. Controlled ADVERTISING Monologue Dialogue WORD OF MOUTH © Daemon Group 2008 www.daemondigital.com Uncontrolled
  32. 32. Controlled ADVERTISING Monologue Dialogue SOCIAL MEDIA © Daemon Group 2008 www.daemondigital.com Uncontrolled
  33. 33. © Daemon Group 2008 www.daemondigital.com
  34. 34. © Daemon Group 2008 www.daemondigital.com
  35. 35. © Daemon Group 2008 www.daemondigital.com
  36. 36. Zero to 60: Ford’s Social Media Story Scott Monty (@ScottMonty) Global Digital Communications Ford Motor Company (@Ford) © Daemon Group 2008 www.daemondigital.com
  37. 37. © Daemon Group 2008 www.daemondigital.com
  38. 38. © Daemon Group 2008 www.daemondigital.com
  39. 39. © Daemon Group 2008 www.daemondigital.com
  40. 40. © Daemon Group 2008 www.daemondigital.com
  41. 41. Early adoption © Daemon Group 2008 www.daemondigital.com
  42. 42. 45% of employers screen Social Media sites © Daemon Group 2008 www.daemondigital.com source: careerbuilder.com 2009
  43. 43. reported they found content on social media that caused them not to hire the candidate © Daemon Group 2008 www.daemondigital.com source: careerbuilder.com 2009
  44. 44. Standard extended lifecycle © Daemon Group 2008 www.daemondigital.com
  45. 45. © Daemon Group 2008 www.daemondigital.com
  46. 46. © Daemon Group 2008 www.daemondigital.com
  47. 47. © Daemon Group 2008 www.daemondigital.com
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