In the early 2000s social media was seen as a way of connecting with friends, chatting with people across the globe and sharing thoughts without the constraint of putting your name to it. But almost 20 years on, this anonymity has contributed to the rise of cyberbullying, fake news, terrorist grooming, child abuse and other toxic activities.
For global brands, the content you and your customers post on your social media pages can reach hundreds of thousands of people in seconds around the world. Whilst this can offer unrivalled opportunities to engage with your consumers, it also means you could be exposed to a myriad of social media risks at any time of the day or night. Below is a short extract from Crisp Labs’ ‘Marketing In A Social Age’ report which explores some of the business-critical risks facing global brands.
Social media moderation teams and managers can find themselves faced with content that poses a real risk to their online community. Whether it is a threat from a vulnerable user, graphic or sexualized image, cyberbullying or a sexually inappropriate comment, the team will expect intervention from the social channel to ban the user, remove the content or help a vulnerable user.
Crisp Labs, our research division, has revealed new statistics that confirm the growing problem of fraudulent content on social media. There are a staggering 14 million scams on Facebook a day (that’s 165 per second), and written posts aren’t the only source of fraud. Instagram, that has 80 million photos uploaded a day, is also seeing a huge amount of content with malicious intent.
These days on social media, good or bad content can go viral at the drop of a hat. A post that may seem irrelevant at first, can quickly go viral, reaching tens, if not hundreds of millions of people in a matter of hours. For you and your team, protecting your brand and reducing your online risk is not always easy to manage in such instances.
Social media risk rocketed up the agenda at financial services brands in 2015 according to the 'Banking Banana Skins 2015' report from the Centre for the Study of Financial Innovation (CSFI) and PWC. Banks are in the process of rebuilding public trust and risk managers are increasingly aware of how comments spread on social media can damage reputations.
30-odd years ago Citibank introduced the slogan ‘The Citi Never Sleeps’ and has recently resurrected it. The slogan conjured up a sense of security that when we need it – anytime of day or night – we can get our money. It was prescient of Citi, back in the 1980s, to want to reflect a world that was increasingly global, increasingly ‘on’. But even Citi wouldn’t have anticipated the truly non-stop, digital, mobile world we now inhabit.
Today, it’s social media that never sleeps.