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Steps to identifying and preparing to manage risk in the digital age
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Boise Fraud Symposium:Reputational Risk in the Digital Age
Red Sky Public Relations: Jessica Flynn September 7, 2012
1
What’s At Stake
2
TRUST REPUTATION REVENUE
Most Important Risk Sources in the Next 5 Years
41%
32%
30%
27%
27%
Global Economic Environment
Government Spending/Budget
Regulatory Changes
Social Media
Financial Risk
3 Source: DeloiHe/Forbes Insights 2012 Risk Management Survey
Where Digital Risk Resides
Danger From Within > Breach of Confidentiality > Financial Disclosures > Social Media Account
Ownership > Personal Profiles | HR > Oversharing
Danger From Outside > Malicious Rumors > Corporate Intelligence > Cyber Attacks > Online Commentary > 24/7 Coverage > Everyone is a Source
4
Where Digital Risk Resides
5 Courtesy: Technobabble 2.0
Speed of Thumbs
6
Keys to Digital Reputational Awareness
> Imagine nightmare scenarios
> Identify your crisis team
> Know where your communication channels exist
> Know who covers you
7
PLAN ACCORDINGLY
> Understand where your customers, employees, competitors ‘live’ online
> Set up simple tracking mechanisms via Google Alerts – Your company
– Your executives
– Your competitors
> ALL employees should be encouraged to listen and have channels to report concerns
LISTEN ACTIVELY
> Be Accountable
> Be Transparent
> Be Genuine
> Practice Disclosure
ENGAGE GENUINELY
Next Steps
Assess • Employee Manual • Corporate Policies • ExisVng Digital PlaWorms
• Partner PlaWorms • VulnerabiliVes
CraX • Corporate SM Policy • Establish Corporate Channels
• Set up Alerts/Trackers • Crisis Comm Plan • Online Dark Pages • Template Responses
Communicate • Social media training for corporate ‘voices’
• Social media best pracVces guide
• Online response flow chart