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Governing Social Media
 

Governing Social Media

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presentation at Interact 210

presentation at Interact 210

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  • Growth in general, usage in corporate AmericaUser groups, user outreach
  • Healthcare and banking: patient privacyPharma: side effectsFTC blogging rules—last Dec
  • Include funny social gaffes on a slide—what were the consequences. You can do a lot damage with 140 characters.
  • Which ones are most social-media prone?
  • Forrester has just released its five-year forecast growth in showing social media will outpace all other forms of interactive marketing spending, with a compound annual growth rate of 34% (off a very small base). Mobile marketing will be the second-fastest-growing budget item. E-mail and display advertising will grow more slowly over the next two years but the forecast improves after that.

Governing Social Media Governing Social Media Presentation Transcript

  • Governing Social Media:
    How to Monitor, Manage and Make the Most of Employee Use of Social Media
    Interact 2010
    The Legal and Compliance Technology Forum
  • Our Panelists
    Doug Cornelius
    Chief Compliance Officer
    Kathleen Edmond
    Chief Ethics Officer
    Janice Innis-Thompson
    SVP & Chief Compliance Officer
    Scott Giordano
    Director of Product Marketing
  • Social Media Usage - Individuals
    Facebook statistics:
    400M active users worldwide
    35% of the U.S. are members
    100M log in via mobile devices
    3M active pages
    Average users have 130 friends and spend 55 minutes per day
    Twitter:
    75M accounts; 10-15M active
    Growth peaked at about 7.8M per month
  • How Much Damage Can You Do With 140 Characters?
  • Poll
    How many have a Social Media policy?
    How many are planning on implementing one in the next year?
  • Social Media Usage – Companies
    Facebook: >1.5M local companies have an active fan page
    Social media adoption by small businesses doubled from 12% in 2008 to 24% in 2009.
    Source: MarketingVox.com
    LinkedIn: 45M users in 150 industries
    Source: TechCrunch
    By 2011, enterprise microblogging will be a standard feature of 80 percent of social software platforms on the market.
    Source: Gartner
  • Managing Compliance: Necessity
    Does your organization need a Social Media policy?
    Consider:
    Social Media is still media
    Communication via Social Media needs to be consistent with internal policies
    Need to apply compliance principles
    Industry examples: healthcare, pharmaceuticals, banking
    FTC blogging rules
  • Managing Compliance: Foundations
    How and where do you start the process of managing Social Media?
    Factors:
    Goals of the policy
    To whom does it apply?
    Implementation challenges
  • Working Together
    How do you get various stakeholders (such as Legal, HR, IT, Marketing and Compliance) to participate in crafting a social media policy?
    Some approaches:
    Discuss potential dangers from having no policy (Google “social media gaffes” for examples)
    Identify compliance requirements that are particularly susceptible to social media (privacy, discrimination, tax-exempt status)
    Identify potential advantages of the policy
  • Benefits vs. Drawbacks
    What benefits has your company received from Social Media?
    Benefits:
    Low cost per thousand
    Recommendations by customers tend to be the most effective
  • Benefits vs. Drawbacks
    What have been the drawbacks?
    Drawbacks:
    Easy to say the wrong thing
    Need to localize, especially for international use
    Need to save for use in litigation down the road
  • Balancing Evangelism and Compliance
    How do you balance employees’ evangelism of your company with the need to stay in compliance ?
    Examples:
    Department of Defense – security vs. getting the message out
    What happens when an employee’s SM activity becomes associated with their off-hours “persona”?
    Blowback from employee’s activities—how do you protect the company and your brands?
  • Instituting Controls Over Social Media
    How do you institute controls over Social Media?
    Policy: the driver
    Procedures: the checklist
    Guidelines: inform the process
    Training: educate the staff
    What role does technology play?
    So-called “data loss prevention” or DLP
    Brand protection
  • Sector-Specific Regulations
    How does Social Media affect compliance regulations in your sector?
    Examples:
    REITs
    Retail
    Financial Services
  • SOX, HR, and Other Regimes
    How do you address non-sector specific compliance, such at SOX, HR and other regimes?
    SOX: implied IT security controls; “whistleblower” protection
    HR: need to prevent discrimination; hostile work environments
    Privacy/Intellectual Property: very easy for data to “leak” out
    Litigation/FRCP: preserving Social Media data for future litigation
  • Some Final Thoughts
    By 2011, enterprise microblogging will be a standard feature of 80 percent of social software platforms on the market.
    Source: Gartner
    Social Media CAGR, 2009-2014: 34%
    Source: Forrester
  • Some Final Thoughts
  • Sample Policies
    Sample policies:
    http://www.compliancebuilding.com/about/publications/social-media-policies/
  • Questions and Answers