Page 5 - AeM_May_2022

RESEARCH, ANALYSIS & TRENDS

Risk managers fear social media more

than cyber attacks

According to a recent study, corporate counter new and unknown risks for their companies in
communications managers consider social this context.
media one of the biggest business risks, ahead
of privacy and cyber threats, extreme weather Many companies are not able to cover all relevant
conditions or supply chain problems. channels. The communications executives surveyed
stated that their companies only monitor an average of
Or at least, this impression is given by the 6.4 publicly accessible social media channels. Very few
“Communications Leaders Risk Survey” study by the are monitoring non-public channels such as online fo-
risk management service providers Crisp and Kroll that rums, messenger apps or alternative online platforms
asked 100 communications managers in North America on which groups can coordinate themselves.
and Europe about their role as risk managers. The ma-
jority of respondents were from companies with sales of According to Vikram Sharma, Managing Director of
more than $500 million and around 50% with sales of Crisp, companies operate in a very polarized environ-
more than $1 billion. Three quarter of those surveyed ment today, which means even those companies that
stated that they are involved in their company as a stra- live their values consistently in their day-to-day busi-
tegic advisor on risk issues. At the same time, 88% ness are not immune to public criticism from consum-
said that they were increasingly the primary contact for ers, employees and shareholders.
such cases.
There are also groups that use digital communication
What the study clearly shows is the fact that organiza- channels in a targeted manner to improve their reputa-
tions typically lack the technology and resources to ef- tion, processes or market value of a business. Commu-
fectively monitor online communities. More than two nications officers must take every advantage to ensure
thirds of those surveyed (68%) therefore expect to en- they are aware of such developments in a timely man-

May 2022: Security & Data Privacy in Marketing 5