The author, Jocelyn Filippini, is an Account Executive and Risk Advisor at Gougeon Insurance Brokers.
“It takes 20 years to build a reputation and five minutes to ruin it.
If you think about that, you’ll do things differently.”
- Warren Buffet
You might recall, a few years ago, the shocking YouTube video of employees of a large pizza franchise that went viral. The video featured an employee "tampering" with sandwich ingredients. The video spread throughout social media and the internet, as well it was covered by numerous news outlets.
Business owners can all agree about the importance of their companies’ reputation and, in an event such as this YouTube video, they can find themselves facing a high degree of public scrutiny and reputational damage. Examples of damages can include:
- loss in revenue due to a loss of customers
- loss of employees
- civil liabilities and fines
The exposure of social media risk is difficult to quantify in terms of loss revenue. It’s a scary unknown.
Social media provides a great environment where employees, customers or other stakeholders can exchange information and create dialogue, however it can unintentionally lead to off-brand discussions. It is vital for business owners to keep a watchful eye over the digital landscape of social media.Read More