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Advertising Law Workshop Panel Presentation by Paul Rand, CEO Zocalo Group
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Advertising Law Workshop Panel Presentation by Paul Rand, CEO Zocalo Group

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On Wednesday, January 26th, Zócalo Group's CEO, Paul Rand, will lead a panel workshop at the American Conference Institute's 24th National Advanced Forum on Advertising Law. The Forum is focused on ...

On Wednesday, January 26th, Zócalo Group's CEO, Paul Rand, will lead a panel workshop at the American Conference Institute's 24th National Advanced Forum on Advertising Law. The Forum is focused on practical strategies to enhance your company's advertising practices while overcoming new regulatory challenges.

Paul will lead the workshop, "Developing a Compliant Social Media Policy", alongside Tony DiResta, Partner, Manatt, Phelps & Phillips, Gary Spangler, Corporate eMarketing Manager, Dupont, and James Dudukovich, Marketing Counsel, The Coca-Cola Company. The panel will discuss the potential dangers and legal implications associated with social media use, and the importance of developing a social media policy for your company and employees.

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Advertising Law Workshop Panel Presentation by Paul Rand, CEO Zocalo Group Advertising Law Workshop Panel Presentation by Paul Rand, CEO Zocalo Group Presentation Transcript

  • January 26, 2011 Developing A Compliant Social Media Policy Presented by Paul Rand President & CEO of Zócalo Group
  • The World of Marketing and Communications Has Shifted
  • In the U.S., Consumers Spend Over Five Hours Using Social Media Each Day – Nielson 2010
  • And They Expect To Use Their Preferred Media Channels Simultaneously
  • Sharing Not Only What They Like, But Where They Are 2010 has seen a significant rise in location-based social network use
  • Rising Smartphone Usage Has Made This Easier Than Ever Before In 2010 25% of U.S. adults had Smartphones. In 2011, that number is expected to increase to 50%. – Nielson 2010
  • And Brands Are Catching On, Taking Social Media Beyond Social Networks Many brands are integrating the Facebook “Like” and Twitter “Tweet” buttons onto their websites to more easily connect with consumers
  • Conservative Figure?
  • Mass Connectors Account For 80% of the Online Influence In Social Networks Among social connectors, 80% of the impressions about products and services come from only 6.2% of the people online. Online Adults Influence Impressions Mass Connectors (MC) MC MC 6.2% of online adults 80% of the impressions about products/ services -Source: Forrester
    • 92% of people say that
    • the recommendation from a friend,
    • family member, colleague or expert is
    • the single most powerful determinant of
    • their purchase decision.
    Recommendations Are the Most Powerful Form of Influence – Roper Reports
  • Recommendations Are Becoming Recognized as the True “Holy Grail” of Marketing “ The rewards of pursuing excellence in WOM are huge and it can deliver a sustainable and significant competitive edge few other marketing approaches can match. With so few companies actively managing Word of Mouth – the most powerful form of marketing - the potential upside is exponentially great.” A New Way to Measure Word-of-Mouth Marketing April 2010
  • Ethics Matter
    • Driving recommendations via programs that provide transparency, accuracy, honesty, and respect is vital…
    • … To cultivate and build brand trust
    • … But also to create sustainable conversation with consumers over the long run
  • The Role of WOMMA
    • The Ethics Code was launched in 2005 to provide consumers with insight into ethical standards online
    • Through the “ Living Ethics ” project and work with the FTC, WOMMA helps the industry establish best practices and comply with government regulations
    • Today the WOMMA Ethics Code includes the most recent FTC Guidelines and WOMMA serves the industry by:
      • Actively engaging with the FTC to continuously shape Guidelines
      • Providing advanced knowledge/understanding of the compliance rules and requirements of advertisers
  • WOM/Social Media Is an Essential Part of the Marketing Mix
    • Companies have a great opportunity to excel and take advantage of the shift to social media…
    • … Rather than being threatened or restricted by it
    Developing a compliant social media policy is critical
  • Compliance Requirements— Tony DiResta