5 risk if using social media for your business

 

5 Security Risks of Using Social Media for Your Business

Security is a primary necessity for the success of any business. And there are many physical security steps you can take to protect your business. For instance, if your business is in a location prone to frequent criminal attacks, then legally invest in a Glock and get your Glock a nice smooth trigger to put you on top of every security breach that might occur.  

However, security isn't a one-sided coin, it goes beyond maintaining physical security. You've got to protect your digital dealings also. Statista reports that an estimated 3.6 billion people use social media worldwide in 2020, which is expected to increase to 4.41 billion by 2025. Thus, it's unsurprising that social media which started as an entertainment tool is now readily used as a primary marketing tool. 

Many businesses now employ social media for some important business activities like business promotion and advertisement. Unfortunately, cybercriminals follow suit. Malicious digital hackers are massively using social media to carry out their unscrupulous activities. Here are five security risks associated with using social media for your business, and how you can also avoid them as the entrepreneur.

Phishing and Brand Cloning

Many cyber criminals mostly use a phishing strategy in which they create a social media account similar to a valid business' account. Their major intent is to convince the business' clients to associate with them and thereby release sensitive information such as their account credentials which they will use to their own selfish advantage.

They can also deceive the customers to purchase fake products or services similar to that of the original business. Such impersonation can cause severe customers' confusion, which can lead to loss of confidence and reduction in patronage of the business. A major way you can manage this risk is to set up a discovery system to locate the counterfeit accounts, and prosecute accordingly once detected.

Unregulated Access to the Business' Social Media Accounts

An instance where a company shares her relevant social media details with agencies, consultants and the public at large can make her vulnerable to cyber attacks. Likewise, giving employees unlimited access to the business' social media accounts can increase its chances of digital infractions. Thus, consider regulating and limiting employees' access to the business' social media accounts. 

Depending on your budget, you can employ a professional and trusted social media manager to handle the business' social media accounts. The social media manager is to monitor the business's social media presence, manage employees' access to the business's social media accounts and curb any social media breach. 

Stolen Passwords

The use of stolen passwords is an easy way to manipulate businesses' social media accounts. When a cyber criminal is able to access a company's social media accounts, he/she can send spamming messages to her customers or change the contents of the social media accounts to exploit customers. And restoring your business's social media accounts after a breach could also be an herculean task. 

Similarly, employees' passwords can also be stolen by malicious individuals to gain access to the company's social media accounts. Therefore, consider using regular strong passwords for your business's social media accounts. You can also persuade all employees to use strong passwords for their digital devices and social media accounts.

Human Carelessness

Human carelessness is one of the most common social media security threats. Careless employees who post sensitive information related to the business can cause lots of digital harm to the business such as phishing attacks, malware perpetrations. 

Likewise, ignorantly clicking on a phishing link, or interacting with an unverified account or filling a slamming form with relevant business details can also expose the business to many digital attacks. Consider making some basic regulations which will prevent employees from sharing confidential information and the company's relevant details with the public.

Social Scams and Malwares 

Digital scammers and malware perpetrators also use malicious social apps to collect sensitive data from naive customers of a business. They also deploy social scams like fake customer service accounts and comments, counterfeit social media contests, etc that can lure a business client into realising their personal and financial information. Thus, consider interacting with your customers regularly to prevent any phishing attacks that might occur. Likewise, ensure you use secure technology for your digital and social engagements.

Conclusion

The above-mentioned social media risks don't negate the effectiveness and profitability of social media in promoting a business. Carefully diagnosing these risks and putting up measures in place that will mitigate them can help you to use social media to take your business to your dream level. Take control and enjoy the beautiful benefits social media has to offer.