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Social Media Compliance: Imperative for Brand Protection in the Digital Era with Rachel Strella www.strellasocialmedia.com

Social Media Compliance: Imperative for Brand Protection

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Page 1: Social Media Compliance: Imperative for Brand Protection

Social Media Compliance: Imperative for Brand Protection in the Digital Era

with Rachel Strellawww.strellasocialmedia.com

Page 2: Social Media Compliance: Imperative for Brand Protection

Today’s AgendaThe Impact of Social Media on Brand in

the Digital EraIs Social Media Monitoring a

Continuous TaskGuidelines to Verify Social Media

Compliance

Page 3: Social Media Compliance: Imperative for Brand Protection

Part I: The Impact of Social Media On Brand In The Digital Era

Page 4: Social Media Compliance: Imperative for Brand Protection

Impact of Social Media in Digital Era

Social media is a two-way form of communication

Page 5: Social Media Compliance: Imperative for Brand Protection

Impact of Social Media in Digital EraCommunication in real-time poses a challenge

Page 6: Social Media Compliance: Imperative for Brand Protection

Impact of Social Media in Digital EraSocial media presents unique risks

Page 7: Social Media Compliance: Imperative for Brand Protection

Impact of Social Media in Digital EraA social media policy is necessary

Page 8: Social Media Compliance: Imperative for Brand Protection

Impact of Social Media in Digital EraPractical and positive use of live communication

Page 9: Social Media Compliance: Imperative for Brand Protection

Impact of Social Media in Digital EraFun use of live communication

Page 10: Social Media Compliance: Imperative for Brand Protection

Impact of Social Media in Digital EraThe downside of real-time communication

Page 11: Social Media Compliance: Imperative for Brand Protection

Impact of Social Media in Digital EraReal-time communication is instant

Page 12: Social Media Compliance: Imperative for Brand Protection

Impact of Social Media in Digital EraHuman errors occur with live communication

Page 13: Social Media Compliance: Imperative for Brand Protection

The biggest risk is doing nothing

Impact of Social Media in Digital Era

Page 14: Social Media Compliance: Imperative for Brand Protection

Part II: Is Social Media Monitoring A Continuous Task

Page 15: Social Media Compliance: Imperative for Brand Protection

Risks• Compliance • Reputation• Fraud and brand identity• Third party• Employee• Privacy• Operational and security

Is Social Media Monitoring Continuous

Page 16: Social Media Compliance: Imperative for Brand Protection

From July 2013 to July 2014, the average Fortune 100 firm had…• 320 social media accounts• 500,000 posts • 1,159 employees posting

Is Social Media Monitoring Continuous

Page 17: Social Media Compliance: Imperative for Brand Protection

Assuming one minute of review per message, the average Fortune 100 company would spend 8,333 hours per year on a compliance review.

Is Social Media Monitoring Continuous

Page 18: Social Media Compliance: Imperative for Brand Protection

Banks using social media for consumer complaints

Is Social Media Monitoring Continuous

Page 19: Social Media Compliance: Imperative for Brand Protection

New rules from FFEIC:A financial institution should have a risk management program that allows it to identify, measure, monitor, and control the risks related to social media.

Is Social Media Monitoring Continuous

Page 20: Social Media Compliance: Imperative for Brand Protection

Failing to monitor social media posts could also result in some serious consequences

Is Social Media Monitoring Continuous

Page 21: Social Media Compliance: Imperative for Brand Protection

Part III: Guidelines to Verify Social Media Compliance

Page 22: Social Media Compliance: Imperative for Brand Protection

It’s critical to establish a risk management program

Compliance Guidelines

Page 23: Social Media Compliance: Imperative for Brand Protection

A risk management program should include:

Compliance Guidelines

• Roles and responsibilities • Policies that address risks • A process for managing third party

providers• An employee training program• A process for monitoring social media sites• Audit and compliance functions• Reporting standards

Page 24: Social Media Compliance: Imperative for Brand Protection

Companies with the right solutions can utilize social media in a secure environment

Compliance Guidelines

Page 25: Social Media Compliance: Imperative for Brand Protection

Real-time monitoring technology can:

•Monitor networks • Capture conversations about the company• Trace and report customer complaints • Set keyword searches and post limits

Compliance Guidelines

Page 26: Social Media Compliance: Imperative for Brand Protection

It’s time to eliminate fear

Compliance Guidelines

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Social media is a valuable and cost-effective tool, but it comes with responsibilities. Ensure your company is protected.

In closing…

Page 28: Social Media Compliance: Imperative for Brand Protection

Rachel StrellaOwner, Strella Social Media

Website:www.strellasocialmedia.comEmail: [email protected] Twitter:@RachelStrella