Risky Business...

by Kyle Stites

As the daughter of an “insurance guy” I suppose I have spent my life analyzing risk. And, as someone now a-tune to the business world, I have learned that most companies have umbrella policies to take cover from any impending storm. However, with the use of social media expanding these businesses into the eyes-wide-open web, the concern becomes how do you protect yourself and the franchise brand you represent, virtually?

Though I see myself as a person who more than occasionally does things spontaneously, there always seems to be that voice (my Father’s in this case) that I hear when about to do something chancy. So, as I mentioned in my last entry, Tips from the New Girl, I clearly had reservations of risk about using Social Media to prosper Franchise Business Review. Now, where is my umbrella for an unexpected social media storm?

To calm my risk-educed nerves, here is a bit of the New Girl’s advice and tips for averting a social media mishap:

• Double check and re-read your posts, updates, and messages before sending! I know I sound like your 5th grade math teacher, but if you double check your “answers” you can easily avoid giving misinformation or even fix an unforeseen typo. Also, looking it over twice might help you rethink what you are about to post and you could end up changing your mind.
• Continuing as your teacher, do your Research! If you are RT-ing someone’s twitter post, make sure you know what they are referring to and if there is a link, read it before making it your own.
• Check the Source! While there are a lot of great experts on the web, there is also a lot of misinformation and you don’t want to fall victim to it. It is easy to believe what you read, so I made a rule when starting out on social media, to only post information from sites I knew were trust and newsworthy. When you start getting to know more people and sources in your industry online over time, then it’s alright to note them on your site. But, gain credibility first.
• This is a big one - If your system decides to, make social media bylaws in your Franchise Agreement. I would say this is a great way (and the closest) to having your umbrella prepared for any mistake or unexpected storm. Another great thing my Dad taught me - put it in writing! You can easily evade an issue for your franchise brand if you outline a social media plan in your Franchise Agreement. Then, no one can break policy and you’ll know what your social media limits are.

From what I have learned about insurance over the years, I think it is safe to conclude that the benefit of social media outweighs the risk. But, just make sure to be cautious, whether you had an “insurance guy” Father or not, stop, and review it all one more time before clicking the post button.

Happy (risk-free) franchising,

All my best,

Kyle Stites
Marketing Coordinator
 

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