When a social media influencer you’ve been working with makes the news for the wrong reasons, you could find your organisation in the spotlight too. So how do you balance the huge value that influencers can bring to your business with the undoubted risks to your brand’s reputation?
Willis Towers Watson’s Global Reputational Risk Management Survey found that while businesses often understand the challenges of reputational risk, not everyone has a strategy to assess and mitigate the damaging financial losses.
The first step in creating an effective strategy is understanding the risks so you can reduce them in the first place. Then you need to ensure you have plans in place should you ever find your business trending for all the wrong reasons.
Willis Towers Watson has deep dived into the risks and benefits of working with social media influencers and identified the following benefits and risks:
- Building credibility and trust
- Reaching a targeted audience
- Broadening your appeal
- Saving time and money
- Damage to brand reputation
- Losing authenticity
- Confusing your brand position.
The key, they argue, is to do your due diligence properly.
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