Matrix: Risks and Rewards of Social Business

At a recent engagement, I was asked to list out the benefits and risks for companies to participate and not, as you know, from our research on how companies connect with customers, the Engagement DB research found there are four types of companies: Wallflowers, Butterflies, Selectives and Mavens –clearly not all are doing it.

The scope of this matrix “Social Business” is when a company and their employees engage with customers in the social web, where customers, competitors, and prospects are already talking. In 2010, it’s assumed the conversation in your market in the social web is already happening.

Risk/Reward Matrix: Social Business
Like all investments, there are risks and rewards, use this matrix to help decision makers understand the downsides and upsides by participating.

For more like this, see all my posts tagged ‘matrix’. Feel free to use this matrix in your work, kindly provide attribution.