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Yesterday’s Burger King brandjacking was an important reminder to brands and their agency and software partners about how vulnerable social media accounts are. These forms of attacks are increasing in frequency, such as Jeep’s recent twitter hack. Surprisingly, Altimeter Group’s research has found from analyzing 50 crises that 76% of crises could have been minimized or avoided had companies been prepared internally --external hacks are not the most common threats. While the press and media was quick to jump to conclusions that the Burger King account was “hacked” (with various daunting fingers pointing at McDonald’s and Anonymous) most threats come from inside --not external forces.
Multiple Points of Failure:
Below, we’ve compiled a list of potential points of failure, that all companies must prepare for. Anyone of these alone or combined could bring down the whole house of social cards.
Conclusion: Action Steps for All Brands and Agencies
Companies must analyze multiple points of failure and develop safeguards at each of the above listed steps. Start by sharing this checklist with internal legal risk and compliance teams, and operational social media teams, including agencies. Develop a process to test these at a regular basis and conduct social media fire drills with all constituents.
Discussion: What other points of risk are not listed above? We’d love to hear your comments and additional points.
Yesterday’s Burger King brandjacking was an important reminder to brands and their agency and software partners about how vulnerable social media accounts are.
What we found was that social media is the modern Pandora’s box – It has great value but almost two-thirds of companies we surveyed say that social media is a significant or critical risk to their brand reputation.