Wrap Up

Social media security threats should be viewed separately from other IT threats such as virus attacks and hacker attacks; dedicated tools have to be identified and purchased and specific social media budgets developed to manage social media risk correctly. All monetary requirements have to address threats, vulnerabilities, and the cost of response.

The threat assessment process identifies the ease of exploitation, impact, and mitigation tactics necessary to reduce risk. The overall costs of modifying your typical IT security tactics have to be implemented into your budgeting process. Because social media poses a risk of uncontrolled threats, such as customers posting on blogs and Facebook, you have to redefine your acceptable risk standards and shift budgets to reputation management, employee training, and crisis control rather than more traditional direct software and hardware tools. As social media tools and cloud services change almost on a monthly basis, your budgeting process has to be more flexible than the typical yearly cycle of most IT security budgeting processes.

Improvement Checklist

Have you developed a tracking matrix for all costs associated with social media usage?

Have you implemented specific budget line items dedicated to social media security tools?

Have you identified threat tactics and costs to address different kinds of threats and countermeasures?

Have you implemented a process to budget for new social media tools and threats on a quarterly basis?