5 Ways To Be Socially Cool

There’s a dynamic exchange medium that’s all the rage—social media. It connects me with former and potential bosses, updates me with wall postsfrom family and friends, and keeps me in-the-know with the latest tweets from Mashable to Guy Kawasaki and yes, Daily Candy.

In short, social media empowers billions of people to keep connected with their personal and professional networks, favorite entertainments or brands, and even strangers. As a result, businesses of all sizes are realizing they too must participate in the social dialogue that’s happening around them. And why not? The rewards can be limitless.For instance, companies such as Dunkin’ Donuts, Ford, and Starbucks have revolutionized their go-to-market campaigns, extending their reach with customers, building and nurturing new and existing relationships, and growing revenue.

So what’s the catch?

As more organizations empower their employees to engage in social media, the face of the company becomes everyone in it. This can create brand protection challenges. In fact, Symantec’s latest 2011 Social Media Protection Flash Poll revealed social media incidents caused by loss or exposure of confidential information, malware attacks, and regulatory violations can cost enterprises an average of $4 million. This includes the cost of damaged brand reputation, litigation, threat mitigation, and lost revenue.

In the October CIO Digest article, “5 Way to Be Socially Cool,” I had the opportunity to talk with co-founder James Governor of analyst firm Redmonk and key IT decision makers from Deloitte UK, ECI Telecom, and Lotus Renault GP to uncover the strategies that helped them minimize the risks associated with social media—and like a good race strategy, it’s essential to the business of winning a race, or losing it.

According to Governor, businesses must invest in a social media strategy, apply all the necessary risk management tools, and invest and trust in their employees to have a stronger dialogue. In doing so, they can truly scale and maximize their efforts to deliver the business results social media has to offer.

To learn more about how Deloitte UK, ECI Telecom, and Lotus Renault GP are connecting closer with their customers and fans while minimizing social media risks, read the entire article “5 Ways to be Socially Cool.”