Social media audits - Why does your company need one?

Social media offers numerous opportunities for businesses from a marketing and eCommerce point of view. However, companies need to consider the potential risks as well. This is where a social media audit comes in.

Transcript:

As of October 2019, Facebook widely regarded as the world's largest social Media platform had approximately 2.4 billion active users. Other social media platforms such as YouTube and WhatsApp had approximately one billion active users each, so it's no surprise that organisations have decided to take advantage of his opportunity from a marketing and e-commerce stand point. But what they have not done is take into consideration the risk to brand reputation.

So what are some of the risks associated with unauthorised with negative social media postings? One of the main ones we've already spoken about is the loss of reputation but a further spill down of that is a loss of competitive advantage, as well as the disclosure of unauthorised sensitive information. Additional risk include things like dissemination of false information by employees of the organisation and this is where a social media policy can play a key role in mitigating those risks. One of the objectives of a social media audit is to provide management, and this includes individuals at a board-level, with an independent objective assessment of the organisation's social media policies and procedures.

The review generally focuses on strategy, people, processes and technology involved in your social media life cycle and this will include things like looking at governance policies and procedures, as well as awareness and training of the organisation's employees. A social media audit will help you identify your weaknesses in an organisation’s social media policies and procedures. If those weaknesses are correctly mediated, you have a fit-for-purpose social media strategy and plan that will not only meet your marketing objectives but also addresses your enterprise risk management objectives.