Risk & Reward in Social Media

Risk and Reward
in Social Media

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

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?


The opportunity in context
29.8m
61.0m
0.26m
5.4m
17.8m

3.7m

72.9%
5.1m

Source: UM Wave 3

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

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

Normal distribution of technology adoption


Early adoption


Standard extended lifecycle


Traditional definition of risk

Risk = probability x impact
Risk = (probability of an event occurring) x (impact of event occurring)


Risk in information systems

• The probability that there is a threat;

• The probability that there are any vulnerabilities;

• The potential impact on the business


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


Definition of risk in information management

Risk = threat x vulnerability x impact


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


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


Definition of risk in Social Media

Risk = threat x vulnerability x impact
engagement


Definition of risk in Social Media

Risk = Kohnstamm x reputation x sales
Credibility/Thorn Tree


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


Social Media engagement


Social Media engagement model


Controlled

ADVERTISING

Monologue Dialogue

Uncontrolled

Controlled

ADVERTISING

Monologue Dialogue

WORD OF MOUTH

Uncontrolled

Controlled

ADVERTISING

Monologue Dialogue

SOCIAL MEDIA

Uncontrolled

Zero to 60: Ford’s Social Media
Story

Scott Monty (@ScottMonty)
Global Digital Communications
Ford Motor Company (@Ford)


45% of employers screen
Social Media sites

source: careerbuilder.com 2009

reported they found content on social media that
caused them not to hire the candidate

source: careerbuilder.com 2009

Risk & Reward in Social Media

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