Business risk is a given and actually value is created through that risk so you would never not want no risk!
The definition of truth and the definition of business risk are closely linked for me....and that is why I believe social media has a huge part to play in creating the truth and managing the business risk.
The truth I have always believed is subjective, based on what you know and what you want to see!
The customer service truth as a lies somewhere between what the consumer expects to happen and what actually happens.
The business risk lies between what I say will happen and what in reality happens.
Therefore the truth will always have a risk of error and the risk will always have an error of truth!
But social marketing techniques can help reduce that risk, I often talk to clients who are afraid of online risk...I argue it is the other way round...
If a customer service truth has a risk of error, then
- Why not use social media to either enhance the experience or repair the experience?
- Why not use social media as a channel to address gaps between expectations and reality?
- Why not use social media to create the human side of the brand...we accept mistakes from humans much more readily than websites!
- Why not reduce the risk by having a mechanism to hear about the expectation gap, rather than being oblivious to what people are saying about you?
Risk can never be (or should be!) negated but social media for business is a risk management tool as much as a value added opportunity.