Friday, December 10, 2010
What is the biggest risk in social media?
The biggest risk that repeatedly arises is the risk of not participating. It's different that all the other risks which have a direct cause and effect. This risk is having an effect due to inaction which could lead to loss of relationships and market share to competitors. The impact is hard to quantify, but can be significant. The mitigation for the risk is a tough one, since it involves culture change from the top. Senior executives need to be convinced that there is a risk of not participating. If companies don't recognize this risk, they may find themselves lagging the competition.
What risks have you seen for your company? I'd be interested in your insights.