Social Media Security is Essential
Understanding the Value of Social Media Security in the Digital Age
Social media is the new storefront, which means account security is more important than ever! According to Statistica, 91.9% of businesses relied on digital media for marketing and operational purposes in 2021, but how many business owners take the time to consider the real value that these social platforms hold?
In many ways, the security of your social media and digital platforms, including your website and your email, is as important as the security of your bank account! Consider this:
“It takes 20 years to build a reputation and few minutes of cyber-incident to ruin it.”
– Stephane Nappo, Global Head Information Security for Société Générale International Banking
The nature of social media, and the inherent trust factor that it creates, increases the risk of phishing scams, impersonation, fraud, and piracy. These risks could negatively affect brands and business owners and create massive disruptions to business operations.
It is important to stress that these risks not only affect your business, they could also affect your employees, your customers, and your brand image. If your social media accounts are compromised, the results could be devastating.
FACTORS TO CONSIDER:
Time: Consider the time it may take to regain access to your accounts or resolve any conflicts that could arise if they are compromised. The time it could take to resolve any issues could disrupt regular business operations and cost you time and even money, especially if your business relies on eCommerce to operate.
Lack of Real-Time Support: Due to the inherent nature of many social and digital platforms, and the high number of people they support, receiving timely customer service support is unlikely. In some instances, security and account issues can take days, weeks, or even months to resolve.
Trust: A compromised account could negatively affect your brand’s image and the perceived trust of your customers and followers. Any business owner knows the time and level of commitment that it takes to build a brand image and trust in the market. The negative effects that can occur if your account is compromised can be devastating and take time and effort to resolve.
Data: One of the biggest topics amongst cyber security experts in recent decades is data security. The increased digitization of valuable information means there is an increased risk of that information being compromised. An unsecured social media account or digital platform could put your customers, employees, and even followers’ personal information and data at risk.
To get a first-hand account, we reached out to our contact Rik Wheatley, Principle + IT Specialist of Bayside PC, who stressed the importance of account security,
“We have been working for more than 6 months to regain access to a company’s Facebook store…This has resulted in many lost sales and the necessity to set up another storefront, which then needs SEO work.”
To minimize the risk of losing access to your social accounts, Rik suggests that it is crucial to document who has access to each account. If an employee is responsible for running your social account, he recommends supplying them with an in-house email to run the account with, rather than their personal information. This way, if an employee leaves the company, you will be able to retain full control of your account.
“Your social presence is a major way for customers to find you, interact with you, and it often controls how they feel about you, so it’s imperative you retain full control of this and keep it secure.”
- Rick Wheatley, Principle + IT Specialist of Bayside PC
With that being said, digital and social media security is essential, regardless of the size of your company! Business owners should consider enacting the same security measures for their social and digital media platforms as they would with their bank accounts.
POTENTIAL RISKS:
Unattended Social Media Accounts: If you have reserved handles on your social media, and they are inactive, it is important to regularly monitor them. Unmonitored accounts are more susceptible to hackers, as they are seen as more vulnerable.
Third-Party Apps: When utilizing third-party apps, ensure that they are trusted and secure. Data that the app requests may be more susceptible to hackers or leaks, so it is important to be mindful of what information you are sharing.
Phishing Attacks and Scams: These scams often target employees and owners of social media accounts. Common scenarios include fake coupons, discounts, or promotional deals that ask for personal data including birthdays, addresses, phone numbers, and even banking information.
Imposter Accounts: Social media influencers, brands, and businesses can be affected by imposter accounts. They impersonate social media accounts in order to target customers and gain access to confidential information or engage in financial fraud.
BEST PRACTICES:
Set up 2-Step Verification (2SV) and/or 2 Factor Authentication (2FA)
Use your most active email
Create a strong password and keep it offline
Only share login information with trusted individuals
"Though I personally view security as an illusion manufactured to sell insurance to more individuals I can't deny that it's of capital importance to any modern brand. Any slip in cyber safety can shatter an entire corporation's hard earned public image these days, let alone a single person, politician, or brand. While many Americans seem rather complacent in protecting their digital selves now, cyber security is liable to be much bigger business in the very near future. All it takes is a single tragic news story to get everyone rushing to clear their supermarkets out of toilet paper, so it won't be long before everyone is clamoring to protect their digital identities. I, for one, won't be late to the party."
- Steve, Tech Producer
As you consider enacting security measures for your social and digital media accounts, continue to reflect on the true VALUE that these platforms provide as a business owner in the digital age. When it comes to social and digital media security, it’s always better to be safe rather than sorry! Regardless of the size of your company, digital security is essential.
Social for the Soul
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The Social For The Soul Team 💛