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Managing social media risk
 

Managing social media risk

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Introduction to the main areas of social media risk and ways of managing them

Introduction to the main areas of social media risk and ways of managing them

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    Managing social media risk Managing social media risk Presentation Transcript

    • Managing social media risk Jeremy Swinfen Green
    • Social Media Risk • Social media: a big opportunity for marketers • But also a big risk for business – Finance/corporate governance/legal – Marketing, sales and CRM – HR • And it’s not just a IT security problem…(so your digital risk processes may not cover it)
    • What is the risk? • People saying the wrong thing in public – Regulatory: financial and communication compliance – Reputational: effects on brand and on sales – Organisational: HR and recruitment problems
    • Why is it such a problem? • Lack of control – Private and corporate social media accounts – Bring your own device • Culture – Unofficial communications (It’s private, isn’t it?...) – Ephemeral communications (Did we really say that?) – Anonymous communications (Catch me if you can!) • The web – Speed of online communications – Multiple connections and geography – Potential for viral growth and amplification by the media
    • The lines are blurring… The lines between public and private, personal and professional are blurred in online social networks. By virtue of identifying yourself as an IBMer within a social network, you are now connected to your colleagues, managers and even IBM’s clients. You should ensure that content associated with you is consistent with your work at IBM. IBM Social Computing Guidelines
    • Sources of risk • Internal – – – – The Board Employees who talk Employees who walk Marketers who get it wrong • External – Hackers – The public
    • Size of the risk • April 2013: Syrian Electronic Army hack into AP’s Twitter feed – They plant rumours of bombs at the White House • Result: the Dow Jones drops 143 points – $136 bn is erased from the market
    • Risks: the board - compliance • Corporate responsibilities: potential negligence – Not ensuring social media management/training is in place – Not ensuring security protocols are adequate – Not ensuring social media records are kept • Financial information – Tweets allowed by the SEC - within guidelines • Advertising Standards – Publishing misleading tweets from consumers – Regulated industries e.g. FCA says FSA guidelines still stand • “Twitter…may be insufficient to provide balanced & sufficient information”
    • The Board: personal security This might matter This doesn’t matter
    • Risk: employees who talk • Unwise posts may: – Damage the brand e.g. personal opinions that appear official – Be accidentally libellous posts (e.g. the Christmas Party) – Anger or worry stakeholders (e.g. shareholders hearing about slow sales) – Create inadvertent contracts
    • Managing employee social media use • Customised company social media policy – Training to gain understanding of and buy-in to the policy • Monitoring – Employee posts on company assets – Senior employee posts on private accounts • Protocols for “accidents” – Triage (when and how to respond) – Using the right channels – Tone of voice guidelines
    • Risk: employees who walk • Social media assets e.g. Facebook pages not owned by the business – Set up by employee who then leaves • Appropriate protocols for setting up and maintaining social media assets vs
    • Risk: employees who walk • Ex-employees may be “ex” for a reason • Monitoring posts and rebutting claims is important
    • Risk: marketers who get it wrong • It’s a relatively new technique • But common sense will generally indicate whether an idea is good or bad…
    • Don’t: be insensitive
    • Don’t: pretend to respond s*****est
    • Don’t: give people too much freedom *******
    • Don’t: ignore the news
    • Risk: Hacking • Business pages being taken over • Personal email or Twitter accounts being hacked • Are YOU using “qwerty” or “12345” as a password? “BurgerKing just got sold to McDonalds…” Dell’s Director of Social Media gets his Twitter account hacked
    • Risk: Fan pages • Unofficial fan pages may work against preferred brand positioning • Dependent on strategy but options include: – Get the page and the fans transferred to your page (via the owners or via the platform) – Get the page shut down – Work with the page owners and provide them with the content you want them to promote – Start your own rival page • Coke’s main FaceBook page is owned & run by fans
    • Risk: Social PR crisis • Things that happen… – Product and operational problems causing unhappy customers to complain in public – Unhappy ex-employees post defamatory comments – Unacceptable executive behaviour is uncovered – Rumours of takeovers, financial troubles are circulated
    • Social PR crisis: the solution • Listen: Monitor social media buzz for potential problems • Prepare – – – – Implement “triage” system Identify possible “worst case” problems Prepare holding and position statements Develop escalation process • Practice: Set up artificial crises and enable response team to practice
    • Getting the right perspective • Letting sleeping dogs lie (not everything is a crisis) • Engage with the right tone of voice – humour or apology • Rebuttal (with fact) rather than threats with the lawyers
    • What you need to consider • • • • Risk audits: initial and 6 monthly reviews Customised social media policy for your business Training for employees and board members Social media processes - security, curation, escalation • Social listening and triage system • Crisis preparation – template position statements and escalation/decision protocols • Crisis migitation – practise your responses in a simulated crisis
    • Thank you jswinfengreen@gmail.com