The New Era of Reputation Risk: Why One Viral Post Could End Your Business
In today’s digital age, small and mid-sized businesses (SMBs) face significant reputation risk from viral social media backlash, which can be devastating due to their limited resources and reliance on community trust. Unlike large corporations that have crisis management teams and financial cushions, SMBs are more vulnerable to public criticism.
In a recent article published by CEO Monthly, Randy Sadler of CIC Services emphasizes that SMBs must adopt proactive strategies such as social media policies, employee training, online monitoring, and crisis communication plans. Additionally, businesses are encouraged to consider insurance options like media liability or captive insurance, which offers customizable coverage for reputation-related risks. Ultimately, preparation and risk mitigation are essential, as one viral moment can make or break a business.
Read the full article here to discover how captive insurance can help your business stay resilient in today’s fast-moving digital landscape.