risk & reward in social media

Risk and Rewardin Social Media

www.daemondigital.com© Daemon Group 2008

…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?

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?

72.9%5.1m

Source: UM Wave 3

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

Blogging

Microblogging

Widgets

Networks

Imagery

Podcasting

Forums

62%read 29.0%

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

Normal distribution of technology adoption

Early adoption

Standard extended lifecycle

www.daemondigital.com© Daemon Group 2008 source: thepaisano.wordpress.com

Traditional definition of risk

Risk = probability x impactRisk = (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

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

Definition of risk in Social Media

Risk = threat x vulnerability x impactengagement

Definition of risk in Social Media

Risk = Kohnstamm x reputation x sales

Credibility/Thorn Tree

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

Social Media engagement

Social Media engagement model

Controlled

Uncontrolled

Monologue Dialogue

ADVERTISING

Controlled

Uncontrolled

Monologue Dialogue

WORD OF MOUTH

ADVERTISING

Controlled

Uncontrolled

Monologue Dialogue

SOCIAL MEDIA

ADVERTISING

Zero to 60: Ford’s Social Media Story

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

Early adoption

45% of employers screenSocial 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

Standard extended lifecycle

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