Social media governance is an ongoing process with the primary goal of mitigating risks for your company. It’s important to note that social media governance is dynamic –– it should change based on the needs of the company.
Research shows that corporations consider reputation damage as one of their most crucial risk concerns –– with technological threats also in the top ten. Social media risks fall under both of these risk concerns
There are a number of risks associated with managing a global web presence, because many factors can influence a company’s performance on social media. For many businesses, their priority in terms of risk management is brand reputation. Within the digital world, companies may experience hits to their brand reputation when any of the following occur:
Strong social media governance manages these threats in several ways. First, effective social media governance allows for professionals to identify points-of-presence related to their business online (both known and unknown). Second, the framework of social media governance promotes both the prevention and removal of potentially damaging information on company account pages. Centralized governance enables professionals at the corporate level to communicate quickly with employees operating at local branches. Because of this structure, businesses can manage multiple accounts effectively. Lastly, strong social media governance gives professionals the tools to neutralize harmful or dormant accounts.
Businesses that are able to protect their brand reputation on social media ensure that their customers only interact with their business –– and not nefarious counterfeiters. As reported by CIO Insight, many cyber criminals target victims through social media in order to steal consumer credentials or other sensitive data.
To be successful at managing social media risks, it is critical to have a social media governance plan in place and to institute the plan accurately. It is also critical to ensure the plan ties into a company’s overall corporate risk management program.
The other chief aspect of social media governance relates to strengthening a business’s brand. Eliminating risks on social media can indirectly lead to improved brand performance. Quality social media governance allows professionals to enhance their brand in several key ways. They include:
Social media governance platforms help professionals uncover exciting opportunities online and make it possible to deliver brand consistency across multiple accounts. Seemingly small things –– like accounts using the same logos or the correct corporate information within profile pages –– have an effect on the way consumers perceive a brand as a whole. (Even how employees behave themselves online can impact a brand’s reputation, which is why social media compliance training is so important.) Social media governance looks to reduce the risks associated with social media activity and optimize brand reputation at the same time.
This presentation highlights the six phases of social media governance to protect your brand online. After reading these phases, you'll be on the right track to developing your own corporate social media governance program based on the best practices of global corporations.
At Brandle, we help companies implement social media governance plans to gain a focused and controlled model of their digital presence. With the Brandle Presence Manager, global companies can gain better control over their social media presence, as well as improved oversight of other organizations and people who associate themselves with their brand. All of these online points-of-presence are customer touch points that add, or subtract, from brand reputation.
If you are interested in learning the steps to create a best-in-class governance program, contact us today to set up a demo and gain control of your brand presence!