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20Sep/100

What are the business risks of not participating in the social web?

Like all investments, there are risks and rewards when a company and their employees engage with customers in the social web.

In his most recent Matrix: Risks and Rewards of Social Business, industry analyst Jeremiah Owyang sums up the risks of not participating:

Business risks:

  • Less control: Customers and competitors will talk about us (good and bad) and we're not there.
  • Demonstrate lack of innovation.
  • Company may be ill-prepared for a crisis or attack, stemming more "spikey" costs.

More complete overview in this matrix:

Risk/Reward Matrix: Social Business