Governing Social Media

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

Governing Social Media

by Doug Cornelius on May 20, 2010

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