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