risk & reward in social media

Risk and Rewardin Social Media

www.daemondigital.com© Daemon Group 2008

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?


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

29.8m

5.4m

3.7m

17.8m

61.0m

The

oppo

rtuni

ty in

con

text

0.26m

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

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


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

risk & reward in social media

Technology