Visibility in Digital Markets: Measuring Risks and Economic Consequences

数字市场的兴起为企业提供了前所未有的与客户接触和推广产品的机会。公司在这些市场上取得成功的一个关键因素是其知名度——即潜在客户能够在网上找到公司的程度——因此，知名度的损失可能会对公司及其投资者造成严重的经济后果。尽管企业风险管理（ERM）越来越重视非金融风险，但数字市场可见性损失的风险和经济后果在很大程度上仍被忽视。为了缩小这一差距，本研究项目旨在开发一个框架，以量化公司在数字市场中的可见性、可见性丧失的风险以及可见性丧失的经济后果。我们建议在两个重要的经验设置中应用和验证开发的框架：搜索引擎和在线市场。通过三个单独的项目模块，我们力求通过以下方式更好地整合风险管理和营销：(i)引入创新方法来衡量与数字市场可见性损失相关的风险；（ii）衡量风险对公司及其投资者的经济影响；（三）提供企业如何将这种风险传达给利益相关者的例子。

The rise of digital markets presented firms with unprecedented opportunities to engage with customers and promote their products. A key element to a firm’s success in these markets is its visibility – i.e., the extent to which potential customers are able to find the firm online – such that a visibility loss can have severe economic consequences for the firm and its investors. Despite the increasing attention that non-financial risks have gained in Enterprise Risk Management (ERM), the risk and economic consequences of a visibility loss in digital markets remain largely overlooked. To close this gap, this research project aims to develop a framework to quantify the visibility of a firm in digital markets, the risk of a visibility loss and the economic consequences of a visibility loss. We propose to apply and validate the developed framework in two important empirical settings: search engines and online marketplaces. With three individual project modules, we strive for a better integration of risk management and marketing by: (i) introducing innovative methods to measure the risk associated with visibility losses in digital markets; (ii) providing a measure of the economic impact of the risk for the firm and its investors; and (iii) providing examples of how firms can communicate this risk to their stakeholders.