It could save you 314 million dollars.
Whitehaven Coal is a case in point; in 2013, the ASX-listed company fell victim to a media hoax by an anti-coal campaigner, who falsely spread news of ANZ Bank pulling its $1.2 billion loan to the company based on ethical grounds. The news spread like wildfire online, and the Company’s value subsequently plunged $314 million before the record was set straight.- See more at: http://buchanwe.com.au/investing-social-media-9-rules-public-companies-follow/#sthash.BIEnSoLD.dpuf
Simple. Some Media Monitoring and Digital Marketing companies like Undergrnd Marketing offer round the clock digital-media monitoring services to ensure any news that is released about your company is reviewed and brought to your attention. If a blog, social media post, or tweet is sent about your company, it's brought to your attention so you can reply and defuse the situation if need be.
“If your company does not engage in social media, then you do not have a voice on social media.”
Time is of the essence in social media. Wait too long and you could suffer
This nifty service allows you to utilise the power of the Google search engine to monitor the web for any news articles, blogs or web pages that mention your name. Works best for companies that often appear in the news or fall prey to tabloid journalism.
Twitter have a nifty tool for companies to check their Twitter stats which goes by the catchy name of Twitter Analytics. Here you can check Mentions and further stats related to your business. If you wish to find mentions of your brand that don't included your Twitter handle, then Advanced Search is where you go.
Unlike the above two, Hootsuite is a paid tool (just over $120 per year), for you to monitor and schedule social media posts.
Need to keep your eye on the blog-o-sphere? Then IceRocket is a useful tool. It searches over 200 million blogs from around the world to see if you are mentioned.