Risk & Reward In Social Media
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Transcript of Risk & Reward In Social Media
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Risk and Rewardin Social Media
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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?
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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?
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72.9%5.1m
29.8m
5.4m
3.7m
17.8m
61.0m
The
oppo
rtuni
ty in
con
text
0.26m
Source: UM Wave 3
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Social Media users by global region
Asia Pacific Europe North America Latin America Mid East/Africa
34.55%
28.47%
22.61%
9.17%5.20%
Source: comScore World Metrix
Based upon unique visitors in June 2008
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Blogging
Microblogging
RSS
Widgets
Networks
Imagery
Video
Podcasting
Forums
Chat
62%read 29.0%
write
21.1%belong
77.0%watch
40.2%listen
No14Sydney*
47.4%post
28.2%upload
74%message
24.6%feed
Social Media
Source: UM Wave 3 *Twitter Grader
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Normal distribution of technology adoption
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Early adoption
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Standard extended lifecycle
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Traditional definition of risk
Risk = probability x impactRisk = (probability of an event occurring) x (impact of event occurring)
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Risk in information systems
• The probability that there is a threat;
• The probability that there are any vulnerabilities;
• The potential impact on the business
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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
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Definition of risk in information management
Risk = threat x vulnerability x impact
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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
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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
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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
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Definition of risk in Social Media
Risk = threat x vulnerability x impactengagement
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Definition of risk in Social Media
Risk = Kohnstamm x reputation x sales
Credibility/Thorn Tree
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Rats Take Over KFC/Taco Bell
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
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Social Media engagement
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Social Media engagement model
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Social Media engagement model
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Controlled
Uncontrolled
Monologue Dialogue
ADVERTISING
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Controlled
Uncontrolled
Monologue Dialogue
WORD OF MOUTH
ADVERTISING
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Controlled
Uncontrolled
Monologue Dialogue
SOCIAL MEDIA
ADVERTISING
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Zero to 60: Ford’s Social Media Story
Scott Monty (@ScottMonty)Global Digital CommunicationsFord Motor Company (@Ford)
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Early adoption
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45% of employers screenSocial Media sites
source: careerbuilder.com 2009
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reported they found content on social media that caused them not to hire the candidate
source: careerbuilder.com 2009
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Standard extended lifecycle
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