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Social media risk management strategies are you rolling the dice
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Transcript of Social media risk management strategies are you rolling the dice
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Brokers & Managers:Are You Rolling the Dice?
Social Media Risk Strategies
Siêu thị điện máy Việt Long www.vietlongplaza.com.vn
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Management ConferenceDecember 11, 2008
Social Media Defined
“An umbrella term that defines the various activities that integrate technology, social interaction, and the construction of words, pictures, videos and audio.”
Source: Wikipedia
Siêu thị điện máy Việt Long www.vietlongplaza.com.vn
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Management ConferenceDecember 11, 2008
Social Media Defined
Social media includes full suite of Web 2.0 tools – tools that enable interaction and engage the user:• Blogs• Video logs (Vlogs)• Micro-blogs• Social networking, bookmarking, tagging• Wikis
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Management ConferenceDecember 11, 2008
Social Media Defined
Look familiar?
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Management ConferenceDecember 11, 2008
Why Risk Management?
• Use of social media by REALTORS® is minimal
NOW– 15-20% use some form currently– Expected to explode in 2009– Many using now are new and inexperienced
• It’s your company’s reputation• It’s your license• It’s your business (and assets)
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Management ConferenceDecember 11, 2008
What Are the Odds?
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Management ConferenceDecember 11, 2008
Avoiding a Social Media Crisis
Steps to Avoiding a Social Media Crisis:1. Develop awareness2. Implement policies & procedures3. Educate yourself, staff and associates4. Communicate the expectations5. Engage your associates6. Monitor what is said7. Manage the process8. Prepare for mishaps
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Management ConferenceDecember 11, 2008
Avoiding a Social Media Crisis
• Step #1: Develop awareness– Become familiar with tools and sites– Ask your associates which sites and tools they use– Check out competitors
• Step #2: Implement policies & procedures– Current P & P might be inadequate– Check E & O, liability policies– Seek legal counsel
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Management ConferenceDecember 11, 2008
Avoiding a Social Media Crisis
• Step #3: Educate– Yourself, staff, associates– Don’t leave it to learning through casual use
• Step #4: Communicate– Make it a topic of sales meetings– Write about it– Distribute it
Siêu thị điện máy Việt Long www.vietlongplaza.com.vn
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Management ConferenceDecember 11, 2008
Avoiding a Social Media Crisis
• Step #5: Engage– Connect with associates and staff on social
networking sites– Subscribe to your associates’ blogs
• Step #6: Monitor– Set up Google Alerts, Technorati blogs– Pay attention to status alerts, profile changes
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Management ConferenceDecember 11, 2008
Avoiding a Social Media Crisis
• Step #7: Manage– Designate time per week– Delegate to management, staff or outsource
• Step #8: Prepare– Even the best laid out and managed plan can go
wrong– What do you do if problems arise?
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Management ConferenceDecember 11, 2008
Mitigating a Social Media Crisis
• Time is your enemy– Act fast!– Twitter can spread bad news faster than TV, and
YouTube is more viral• Don’t take a knife to a gun fight– Don’t use traditional media (solely) to counter
social media gaffes– Respond in kind
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Management ConferenceDecember 11, 2008
Mitigating a Social Media Crisis
• Brandjacking– Is your brand being used properly?– Is it being used by those authorized to use it?
• Reputation management– Are you researching your new hires?
• The Malicious Web– What happens when consumers become so
dissatisfied that they take extreme measures?...
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Management ConferenceDecember 11, 2008
What Would You Do?XX
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Management ConferenceDecember 11, 2008
Open Discussion / Questions
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Management ConferenceDecember 11, 2008
Resources
Electronic Frontier Foundation (EFF)www.eff.org
Blog for Profitwww.blogforprofit.com
Bizomi Consultingwww.bizomiconsulting.com
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Management ConferenceDecember 11, 2008
Thank you for Attending!
For more information, visit www.BradHanksSeminars.com or email [email protected].
Brad Hanks trains, speaks and consults on social media, sales productivity and management in the real estate industry.