Social media has a number of potential benefits to companies and brands. But these benefits are not without a downside. Companies are facing new and ever-increasing risks and threats via social media. Whether it is having your Twitter account hacked or spear-phished, or a groundswell of angry customers leaving negative comments on a social channel, companies must understand the social media risks that they are facing and be prepared to manage and mitigate them.
Social media risk management is a process of evaluating tradeoffs, as you work from the highest priority risks to the lowest priority risks. We have identified four distinct steps to social media risk management – Identification, Assessment, Mitigation, and Evaluation as laid out here.
Social Risk Identification Workshop
This half-day workshop will assist companies in identifying both direct and tangential risks including reputational, operational, regulatory, and legal and privacy risks that companies face through social media social media channels. As a result of this workshop, companies will understand how to identify social media risks and have a list of identified social media risks unique to the firm.
Triage Process Creation Workshop
This half-day assessment and workshop supports companies and brands in designing a social media message triage process appropriate to their internal processes and governance. This process and the corresponding governance gives companies a tool to effectively and quickly assess, triage, and process any type of social media message.
Social Risk Assessment
This half-day workshop will assist companies in assessing both direct and tangential social media risks through the lenses of the likelihood to manifest and the potential impact if they do. A prerequisite of this workshop is the completion of the Social Risk Identification Workshop. As a result of this workshop, companies will have a prioritized list of potential risks to manage and mitigate against.
Organizational Risk Tolerance Assessment.
Organizational risk tolerance can be improved based upon the establishment of solid processes and appropriate training. This heuristics assessment employs a spreadsheet-based tool to evaluate an organization’s understanding and tolerance of social media risks, issues, and crises. Once in place, specific processes and training can be identified to improve the organizational risk tolerance.
Social Policy and Guidelines Assessment.
Altimeter employs a proprietary heuristic evaluation tool to assess your current social media policies, guidelines, and tangential policies against industry best practices. Brands will receive a 25+ point evaluation with pragmatic recommendations to both improve the policy and improve adoption.
Social Crisis Management Playbook
If a solid risk management effort is your plan A, then your plan B needs to be a social media crisis management plan and playbook. Altimeter will help craft a social media crisis plan that, should your company be subject to attack, helps you correctly differentiate between an issue and a crisis, identifies who within the company needs to participate, and explains how to craft an appropriate response.
Social Risk Training
Everyone in your organization should be aware of the risks of social media, whether on their personal account or the corporate account. This two to four hour training will help your staff understand the risks that social media presents along with ways to minimize that risk. This training can be customized to your particular company or industry and is conducted at three-levels – general employee training, training for those who engage on behalf of the brand, and training for executives and managers.
Social Crisis Table-Top (War Gaming) Exercise
Have you identified and assessed your risks, put the appropriate mitigation and management efforts in place, and now wondering if you have done enough? War-gaming a series of social media crises with the actual participants is an effective way to test and retest all of the work you have done. These half-day or full day exercises will run your team through a series of potential issues and crises to the effectiveness and the resiliency of your social media team.