Social media provides opportunities for companies but also risks that must be addressed. While boards are not often discussing social media, its success or failure can impact strategic initiatives. There are three main risks - not understanding what is said about the brand online, having an unclear social media strategy, and failing to properly execute strategy. To remedy these, companies must track brand mentions, put strategies in writing, train employees, and have processes to identify and control risks while engaging customers through social media.

1. Avoiding a
SOCIAL MEDIA
mess
A Board, Executive and Management primer on risks, remedies and governance

2. social media gives everyone a megaphone

3. including customers, potential customers, and YOU

4. the power of social media attracts attention on a mass scale

5. content and engagement are crucial

6. THE ABILITY TO DELIVER YOUR BRANDS MESSAGE
VIA SOCIAL MEDIA IS VERY POWERFUL

7. interactions can impact your brand’s image and bottom line

8. YET

9. boards are not discussing Social Media
Study by The Conference Board and the Rock Center for Corporate Governance at Stanford University.

10. YET

11. “ The success and failure of a company’s
strategic initiatives will be reflected in the
dialogue that occurs in the social media space
”
David Larcker
Study by The Conference Board and the Rock Center for Corporate Governance at Stanford University.

12. so what are some questions that need to be addressed?

13. what is social media?
how can it be used?
what are the risks?
how are risks managed?

14. social media is any web based or mobile service that allows
people to share content and ideas with others

15. IT IS ABOUT CONTENT AND EGAGEMENT

16. there are 3 primary uses of social media

17. to inform

18. to educate

19. customer service

20. many choose to avoid social media altogether!

21. this is a big mistake!

22. here’s why!

23. ½ twitter followers more likely to buy

24. customers who engage socially
are more likely to buy and recommend

25. you must manage your brand’s online image
before someone else does

26. WHAT ARE 3 SOCIAL MEDIA RISKS
YOU MUST BE AWARE OF

27. 1 - IDENTITY AWARENESS

28. The risk of not understanding
and managing what is being said about you online

29. HOW DO YOU REMEDY IDENTITY AWARENESS RISKS

30. Be aware of what is being said
track brand buzz

31. 2 – STRATEGIC RISKS

32. unclear strategy will derail the social media initiative

33. HOW DO YOU REMEDY STRATEGIC RISKS

34. Make social media strategy
a subset of global strategy

35. put it in writing
Formally inform employees

36. develop formal policies
provide formal training

37. 3 - STRATEGY EXECUTION

38. failure to execute can literally kill your brand

39. REMEMBER!

40. IT IS ABOUT CONTENT AND EGAGEMENT

41. Beware and be aware of what, where and how you post

42. you are what you tweet

43. you are what you like

44. you are what you pin

45. you are what you friend

46. you are what you follow

47. social media provides the
opportunity to introduce your
brand to others

48. don’t be surprised by unmanaged risks

49. BOARDS, EXECUTIVES & MANAGEMENT MUST
identify and discuss risks
Implement process to control risks
establish appropriate governance

50. Avoid a
SOCIAL MEDIA
mess

51. Avoid a
SOCIAL MEDIA
mess

52. thatauditguy@gmail.com
Robert Berry is a risk management,
compliance and audit author,
advocate, innovator and educator. http://www.linkedin.com/in/berryrobert
He provides valuable audit content
on his website and is the creator of
the auditor exchange sharing http://www.thatauditguy.com
services. http://www.auditorexchange.com