BlogWorld 2009 Presentation - Social Media in a Regulated Enviroment

Social Media Success in Regulated Industries
Eric Berto, Shannon Paul, Mark Story
#cya

What We’ll Talk About Today
Us - why we’re here
Marketing 101 and where it bumps up against a regulated industry
How we did it - macro and micro level
How you can do it
Lots of back-and-forth
#cya

Who ARE You Guys?
Eric Berto
PR and Corporate Communications specializing in B2B/enterprises
Former reporter who joined the dark side
Managing PR/corp comm for a public company
Shannon Paul
please insert some stuff
Mark Story
Director of New Media at the SEC
Adjunct at Georgetown University
15 years in “new media”; Barry Manilow hater
#cya

Did someone say “regulated?”
Welcome to our world
Shannon’s disclaimer(s)
Eric’s disclaimer
Mark’s disclaimer
#cya

Good communication practices using social media
Engage in instantaneous, two-way communication. If something is incorrect out there, jump all over it.
Be completely honest.
Be transparent about your motives.
Speak with your own voice; be yourself.
#cya

The Reality
The lawyers rule.
You have to be cautious.
Compliance review takes time and is laborious.
When an issue is breaking, you might lose precious time and representation.
You might have to get forgiveness before permission.
When in doubt, see Rule #1.
“ You want to do WHAT??!” #cya

What we really mean #cya

A Day in the Life - Shannon #cya

A Day in the Life - Eric
The PR approval process
Eric writes draft 1
Draft 1 reviewed by product marketing
Eric writes draft 2
Draft 2 reviewed/revised by general counsel
Eric fixes the lawyer language to be human
CEO reviews the release
Eric Creates “Final” version
Lawyers, Product Marketing & CEO approve.
Eric publishes “Final Final” to the wires.
#cya

A Day in the Life - Mark
Understand that you are dealing with people who are lawyers. Uncontrolled messaging scares people.
Understand that you are selling something. Speak in benefits-oriented statements that resonate.
Pick your battles.
Have the patience of Job.
Know that you CAN make a difference.
#cya

Understanding the macro environment
Regulation FD:
Mandates that all publicly traded companies must disclose material information to all investors at the same time.
The regulation sought to stamp out selective disclosure, in which some investors (often large institutional investors) received market moving information before others (often smaller, individual investors).
The SEC Rule #cya

Understanding the macro environment
Shannon and Eric
YOU
From the company perspective #cya

Making it happen inside a regulated company
Best practices for using social media inside a regulator
Best practices for using social media inside a regulated company
What are your stories?
#cya

Making it happen in a regulator
A lot of internal education. A few talking points:
The conversations is already taking place. Be part of it or watch.
Making the case using ROI statistics like CPC (cost per contact)
Sometimes you can’t make the ROI argument - but that does not mean your are wrong.
Begin with baby steps - internal blog first rather than external.
There will be roadblocks. Anticipate them.
#cya

SEC Social Media You Tube Automatic outbound email Twitter Blogger engagement #cya

Summing up
Using social media in a highly regulated industry is not easy - on either the regulated or regulator side.
It’s hard, but it’s not impossible.
Other points, guys?
Beacoup Q&A
Then C-YA!!!
#cya

Like us?
Shannon Paul: http://veryofficialblog.com/
Eric – http:// www. thegeekgiant .com
Mark: http://www.intersectionofonlineandoffline.com/
#cya

BlogWorld 2009 Presentation - Social Media in a Regulated Enviroment

by Mark Story on Oct 23, 2009

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BlogWorld 2009 Presentation - Social Media in a Regulated Enviroment — Presentation Transcript