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Companies are quick to deploy the latest social media technology, yet most have not prepared for the threat of social media crises, or long-term effects on business. While the incidence of social media crises is on the rise, we found that more than three-fourths (76%) could have been diminished or averted had companies invested internally.
Learn from where others have succeeded and failed – companies should follow the Social Business Hierarchy of Needs. First, develop business objectives and establish governance, then get organized by establishing a team and a process to deal with crises. Next, connect business units to increase coordination and reduce duplication. Finally, weave real-time market response into business processes and planning.