THE POWER OF SOCIAL MEDIA IN 2023---NIDM
1. Crisis Management for Social Media Will Be Essential A PWC survey shows us that more than 95% of businesses expect to face a crisis within the next two years. The problem is that many companies still don’t have a designated crisis response team or a crisis plan in place. Social media platforms have become a vehicle for spreading information quickly. This includes issues, both minor and major. When left unaddressed, one seemingly minor issue can transform into an even bigger one, causing significant damage to your business, such as financial damage and damage to your reputation. One example is Peloton. The brand’s Tread and Tread+ machines were recalled after an accident that led to the death of a six-year-old child. Despite the pressing nature of this issue, Peloton didn’t immediately address the issue, recalling the products in question only a month after the incident. Because of this, it faced backlash from consumers and social media users. According to a survey commission