Asked their level of concern surrounding potential risks associated with their social media strategy, 71% of respondents to a recent study [PDF] from Grant Thornton chose the response indicating that their company is concerned but they believe the risks can be mitigated or avoided. About 1 in 8 respondents are very concerned about social’s potential risks, although that percentage is matched by the proportion who do not believe there are any appreciable risks. Interestingly, despite most believing that social’s risks are avoidable, few are taking action to prevent them.
Among the senior executives surveyed – who hail mostly from small to mid-sized private companies – only 18% said their company performs social media risk assessments. Similarly, just 21% have an incident management plan in place should there be an issue with fraud or privacy breaches related to social media. Low levels in this area are likely related to only 1% of respondents claiming to have been afflicted by a fraud incident involving social media. Read the rest at MarketingCharts.