With any new field comes risks. That's irrefutable fact. Social Media is no exception. As it continues to rise in relevancy more and more see the opportunities created and want to jump right in. So should you? Consider this. Say, you're a freelance investor who just made a very profitable and successful stock trade. Say you decide to hop on twitter and brag about it. Say someone, knowing you're profession takes that advice and takes the plunge. Say they sue you. Now you get what I'm saying?
I'm not trying to scare you. Social Media is great! But it's amorphous, ever present, and always changing. It's impossibly hard to define, incredibly hard to contain, and even harder to predict. You'd be cautious entering a new unfamiliar place for the first time, wouldn't you? So why not be cautious when dealing with Social Media? You have to prepare yourself for sudden changes and and unexpected turns.
You also have to be honest. A lot of companies have problems with this. There may be plenty of firms eager to jump into the ongoing conversation that is happening all over the social networks right now, but others know that they have to stay put. For them, conversation means accusation. If ENRON had a twitter, a facebook, for which anonymous legions to blast and troll endlessly? You've no doubt heard of "anonymous" and their various digital attacks and trolling exploits against companies they view as "evil". DDOS attacks would be unceasing. Their trolling would blot out the digital sun. Except you wouldn't be a spartan warrior. You'd be a tiny little helpless baby kitten ready to be smashed by the angry mutant fist of the internet. So, unless you are honest and have a decent track record- and maintain that record, Social Media investment probably isn't for you. But for the majority of companies, as long as they stay cautious, the return can be outstanding.
To have social media awareness and have the ability to overturn bad pr before it even starts you need the competitive awareness targeting intelligence can provide.
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