Insureon Blog

Using Facebook to Grow Your Business? Know the Risks & Exposures

18. March 2013 15:16

social media liability risk

Small-business owners know that engagement with customers and prospects is key to growing. In the Internet age, many of the most powerful tools for engaging with your current and prospective clients are online. And while Twitter, Pinterest, Google+, and LinkedIn are important players in the social media landscape, Facebook remains king, with Internet users spending the greatest share of their online minutes on this site.

In fact, even though Facebook only ranks fourth in total web visitors, it holds the number-one spot for visit length. Translation: your prospects are spending a lot of time on Facebook.

Naturally, it makes sense to be where potential clients are hanging out – but before you plow ahead with your current Facebook operations, take a moment to make sure you’ve adequately protected your business against the risks that a Facebook presence exposes you to.

What’s So Risky about Facebook?

Too many small-business owners assume that low-cost marketing opportunities like those provided by Facebook also have a low risk profile. Businesses using Facebook, though, actually expose themselves to a number of risks every day, including…

Your Legal Liability Exposures from Facebook

Each of the above risks may seem like a minor inconvenience, but they could actually expose your business to legal liability – aka, legal responsibility to pay damages.

Specifically, a business Facebook account exposes you to…

Managing Your Risks on Facebook

So how can you minimize your risk while maintaining a presence on Facebook and other social media sites? Commit to actively managing your account with a focus on risk management. This should involve…

For more tips on managing your social media risks, check out our eBook Tweet or Twibel: The Small-Business Owner's Guide to Advertising Injury.

Writtten by Brenna Lemieux – check her out at Google+ or Twitter.

Tags: ,

Data Breach | Risk Management | Small Business Risk Management

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