Managing the risks of social media

Managing the risks of social media

To get involved or not? It's no longer the big question, now that companies are seeing that social media isn’t going anywhere. The more pertinent question has become how to manage the risks of social media. These risks as James Griffin, Director at KPMG, outlines, can be "reputational, regulatory if you're in the financial services space, and also in some instances, operational".

Director, Social Media Intelligence

KPMG Australia

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On 5 May 2015 at the annual CeBIT Conference, KPMG moderated a panel of four professionals from ANZ Bank, Fairfax, Twitter and LinkedIn, on the risks of using, and not using social media.

Key insights

  • While an organisation might be very good at calculating the risk of engaging in a new activity, it can be more difficult to calculate the risk of not engaging, with perhaps the ultimate peril being irrelevancy in the target market.
  • There’s a clear shift that needs to happen within the operations of businesses as they adapt to a social culture.
  • An inescapable risk, online bullies and trolls are a fact of social media, but they need not be the ultimate decider when it comes to an organisation’s reputation.

Social Media Intelligence

KPMG Social Media Intelligence supports clients with digital risk management, to capitalise on social media and manage their brand and reputation.

 
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