In a recent Deloitte and Forbes report, social media was identified as one of the top four sources of risk for companies by their C-suite. And while I was a little suprised at first because social media is an amazing tool and should not be shunned because of potential risks, I have to admit that, yes, social media risk is real. Risks include reputation, operations and compliance. Relevant enough for management to have an active focus on social media.
Yet many of the C-suite are not using social media because they do not understand the business of social media or don’t have a social media strategy in place. But this will not spare you from potential risks. Social media is now a key part of your brand. Whether you are engaged in it ot not, people are talking about you. And as much as you would like to go back to the good old days, the future involves social media and cannot be ignored.
So, C-suite, what should you do?
Start by paying more attention to the world of social. Take a look at other campaigns, how others handled a crises. Know what communication channels your brand is using, who runs them and the strategy it is based on. Understand the targets and and outcomes. See how your market engages with your brand. How you can listen and how you can respond. Start understanding the potential risks. Put policies in place. And realize the value of social media tools.
Managing a brand is a C-suite responsibility. And so is social media.