Risk means the probability of negative occurrence that may be avoided through pre-emptive action.
This can include risks of harm to a company directly or financially, to a brand name or even risks affecting parts of the supply chain through natural catastrophes, political decisions or human actions – depending on the industry and targets.
Especially large companies with a great number of suppliers and partners cannot manually track all potential risks on a global scale and this is where using social media monitoring comes in to help counteract your organisation’s likelihood of falling victim unprepared to such scenarios.
With a customized online monitoring and alerting tool, it is possible to keep track of a large amount of different variables and information sources so that you have your finger on the pulse and are never caught unprepared or under-informed in the event of a crisis.
The role of Social Media Monitoring
Monitoring social media enables you to quickly identify and monitor conversations across social media platforms and millions of newspapers, blogs and forums.
By doing this you can keep track of relevant industry news and discussions from across the web concerning political, social, environmental and economic developments that may have an effect on the company or your supply chain.
What are the possible benefits of risk monitoring?
- Quickly identify and analyse potential threats which would affect your organisation.
- The ability to act pre-emptively. If we take the example of monitoring for risks to an organisations supply chain, then staying informed and taking appropriate pre-emptive action can reduce risk of supply chain issues and brand damage caused by delivery shortages and customer related issues
- Be aware of suppliers reputation and their operating principles
How can Social Media Monitoring help?
- Set up queries with Boolean operators to monitor topics that are relevant to the risk your wish to avoid or prepare for: e.g. locations of suppliers in combination with various risks like strikes, natural disasters, specific social changes, etc.
- Proactively manage problems by monitoring all involved parties in the queries. It is possible to monitor as many keywords as needed to guarantee that no important information is lost
- Identify and react quickly on critical events and news
- Detect infringement of copyright and trademark rights
- Observe the (mis)use of your companies identity
- Be aware of attempts of reputational damage
What Talkwalker provides:
- Live monitoring
- Constant crawling of more than 150 million sources
- Collating of specific information about risks and the results with individualized filters
- Alerting systems for user-defined actions.