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Social Media Compliance: Imperative for Brand Protection in the Digital Era
with Rachel Strellawww.strellasocialmedia.com
Today’s AgendaThe Impact of Social Media on Brand in
the Digital EraIs Social Media Monitoring a
Continuous TaskGuidelines to Verify Social Media
Compliance
Part I: The Impact of Social Media On Brand In The Digital Era
Impact of Social Media in Digital Era
Social media is a two-way form of communication
Impact of Social Media in Digital EraCommunication in real-time poses a challenge
Impact of Social Media in Digital EraSocial media presents unique risks
Impact of Social Media in Digital EraA social media policy is necessary
Impact of Social Media in Digital EraPractical and positive use of live communication
Impact of Social Media in Digital EraFun use of live communication
Impact of Social Media in Digital EraThe downside of real-time communication
Impact of Social Media in Digital EraReal-time communication is instant
Impact of Social Media in Digital EraHuman errors occur with live communication
The biggest risk is doing nothing
Impact of Social Media in Digital Era
Part II: Is Social Media Monitoring A Continuous Task
Risks• Compliance • Reputation• Fraud and brand identity• Third party• Employee• Privacy• Operational and security
Is Social Media Monitoring Continuous
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
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
Banks using social media for consumer complaints
Is Social Media Monitoring Continuous
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
Failing to monitor social media posts could also result in some serious consequences
Is Social Media Monitoring Continuous
Part III: Guidelines to Verify Social Media Compliance
It’s critical to establish a risk management program
Compliance Guidelines
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
Companies with the right solutions can utilize social media in a secure environment
Compliance Guidelines
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
It’s time to eliminate fear
Compliance Guidelines
Social media is a valuable and cost-effective tool, but it comes with responsibilities. Ensure your company is protected.
In closing…
Rachel StrellaOwner, Strella Social Media
Website:www.strellasocialmedia.comEmail: [email protected] Twitter:@RachelStrella