Home > Social Media > Is your social media in safe hands?

Is your social media in safe hands?

I’ve just been looking back on a few unique incidents regarding social media over the last few months.

And I’m so glad that Social Media and Online Collaboration CoP is back up and running to balance it and show some great examples of social media use in Local Government.

But I still worry that some organisations are putting themselves at risk in an environment which could make or break them.

At a resent presentation from Steve Dale he highlighted that The Social Skinneypoints out that 85% of people that work in social media have been in the industry for two years.

Don’t get me wrong there are some great people that are doing amazing stuff with social media that have just come into the industry.

But in what other situation would you allow someone with only two year’s experience to be in charge of an organisation reputation?

Maybe some senior managers have not yet seen the light.

HMV

Take the example of HMV whose sacked workers took over the official Twitter account to live-tweet being fired.

And then details came out that that one marketing director was heard commenting‘How do I shut down Twitter?’

And in other tweets posted before they were later removed, staff claimed the account was set up two years ago by an unpaid intern.

Maybe they had not taken the power of social media seriously.

Dow Jones

And if you want to see the power it has Clair from Scoop it, show’s it in this image.

“The Dow Jones recently tumbled almost 150 points in a “flash crash” caused by widespread digital panic. What was the cause of this panic? Twitter.

The story is that someone hacked the official Associated Press Twitter handle and tweeted a false report of a terrorist attack on the White House, which claimed that the President had been injured in said attack.

This is significant in the grander scheme because the Dow essentially measures the health of the US economy and a hit of this magnitude means lots of people (deserving or otherwise) needlessly lost a lot of money in nanoseconds.

There are claims that nearly 70% of trading is done via “high frequency trading” or “HFT,” which employs a trading algorithm that crawls reputable news sources (and social media) and executes auto-trades based on what the crawl produces. In layman’s terms, a robot is reading the news and if it doesn’t like what it reads, it hits the “sell” button. Something like a Twitter hack causing a flurry of selling is a dangerous game to play, especially when most traders don’t have access to social media during the trading day and can’t keep up/compete/compensate for the robo-trades.”

 

I know Social Media is not going to have as big an impact in Local Government as this example.

But it is interesting and do you still feel that your social media is in safe hands?

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