This document summarizes a presentation on regulated social media use. It discusses challenges like having authorized spokespeople, regulatory oversight of social media posts, and linking to third-party websites. It provides recommendations such as gaining executive support, using a cross-functional team, developing a strategy and metrics, and identifying companies that effectively use social media like Twitter, LinkedIn, and Facebook. The presentation covers social media best practices for financial and pharmaceutical companies.

1. Regulated Social
@iamreff #RegSoc 1

2. Slides
Go to refford.com
Follow the link in the orange bar.
@iamreff #RegSoc 2

3. Agenda

Burning questions?

Mr Startup vs. Mr PharmaBank

Challenges

Recommendations

Who's doing social well
This presentation does not reflect the views of my
employer
@iamreff #RegSoc 3

4. Mr. Startup

Twitter: “We just launched version 1!
Register for our beta at OurStartUp.com”

YouTube: Instructional videos

Blog: Provide depth and purpose

Facebook: Connect with early adopters
Focus:
Awareness. As fast and furious as I can
get it.
@iamreff #RegSoc 4

5. Mr PharmaBank

Twitter: “Delete tweets we don't like?”

YouTube: Doesn't support our brand
standards

Blog: Subject Matter Experts are not
cleared to speak publicly

Facebook: Do our customers want advice
on an open channel?
Focus:
Don't jeopardize our integrity.
@iamreff #RegSoc 5

6. Survey Time!
According to a July 2011 Cerulli Associates
survey, what is the top social platform used
by firms?
A. LinkedIn 38%
B. Blogs 25%
C. Facebook 38%
D. YouTube 19%
E. Twitter 56%
@iamreff #RegSoc 6

7. Challenges
@iamreff #RegSoc 7

8. Authorized Spokespersons

Not everyone can speak for the company

All spoke persons are media-trained

Subject Matter Experts are likely not
cleared to speak

Ultimately, limits your ability to generate
impressions on social via employees
@iamreff #RegSoc 8

9. Regulatory Landscape

Blogs, Twitter, Facebook = “Advertising”

Chat, Comments = “Public Appearance”

Liking, Commenting = “Endorsement”

Third-party URL= “Entanglement”
Supervise Recordkeep File
@iamreff #RegSoc 9

10. Brand Management
@iamreff #RegSoc 10

11. Third Party Linking

Defined: Linking to content on sites that
aren't ours

Websites have Terms of Service

“Deep Pockets” theory

Outcome: A conservative Legal team may
want to approve each website's ToS and
often obtain explicit authorization to link
@iamreff #RegSoc 11

12. Survey Time!
According to a 2011 kasina report, what
percentage of firms are measuring ROI for
Social Media?
A. 33%
B. 37%
C.17% winner
D. 11%
E. 67%
@iamreff #RegSoc 12

13. Entanglement

Outlined in SEC regulation 10-06

Practically: If we link to a site, our firm is
potentially entangled with the content on
that site

Outcome: Compliance must review each
third party page before Marketing can use
it
@iamreff #RegSoc 13

14. Content
Discussing product introduces new issues

Additional Compliance requirements

Additional process

Tone is important
– “Money Ain't Funny”
– Maintain integrity (link baiting?)
@iamreff #RegSoc 14

15. Costs

Social Media is cheap?

All this adds up to expensive resources

Leads management to ask “What's the
ROI of social”
@iamreff #RegSoc 15

16. Survey Time!
According to a July 2011 Cerulli report,
organizationally, where does Social Media
reside?
A. Corporate Strategy 7%
B. Retail marketing communications 27%
C.Public Relations 7%
D. Corporate marketing communications 39%
E. Senior management 7%
@iamreff #RegSoc 16

17. Recommendations
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18. Well Rounded Approach
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19. Executive Support

Executive support is the only critical factor
in getting a social initiative off the ground
– Clears a path
– Urgency
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20. Cross Functional Team

Marketing

PR

IT

Compliance

Support

HR
@iamreff #RegSoc 20

21. Strategy

Know why you're doing social
If ((social strategy <> marketing strategy) &&
(marketing strategy <> business strategy));
printf (“you're doing it wrong”);
@iamreff #RegSoc 21

22. Manage Expectations
Don't expect social to carry the load
Pepsi 2010:

2010: Decides to forgo Super Bowl advertising and
instead invests $20mm in the “Pepsi Refresh
Project” social media campaign.
Pepsi 2012:

Loss in market share

Cut 8,700 jobs & $1.5 billion cost savings

Boosting Ad spending $500+ mm
@iamreff #RegSoc 22

23. Best Practices?

# early practices > # best practices

Connect with others in your industry

Seek advice of consultants and analysts

Use industry examples to “normalize”
ideas
@iamreff #RegSoc 23

24. Survey Time!
According to a 2011 kasina report, what
percentage of firms are active in social
media?
A. 48%
B. 80% winner
@iamreff #RegSoc 24

25. Test and Fail Fast

Track metrics

Test different:
− copy
− content
− campaigns

What drives:
− impressions
− clicks
− conversions
@iamreff #RegSoc 25

26. Invest in Tools

Social listening
– Socialmention.com
– Radian6, Lithium

Social management
– Hootsuite
– Argyle

Compliance
– Hearsay, Socialware, Actiance
@iamreff #RegSoc 26

27. Metrics & Measurement

Key Performance Indicators

Measure per platform

Consider
− Audience
− Engagement
− Referral
− Conversion
@iamreff #RegSoc 27

28. Define processes

How to align social content with strategic
business and marketing efforts

Content review and approval

Internal contacts: sales, support,
complaints, media

Content calendar

Social Media Response

Reporting
@iamreff #RegSoc 28

29. Activation Strategy

How are you going to raise awareness?

Sales support

Marketing collateral: print, Advertising,
business cards, email signatures,
website?

Internal communications

Influencer outreach (media, analysts)
@iamreff #RegSoc 29

30. Survey Time!
According to a November 2011, Ignites
reader poll, what percentage of readers
said social media is a fad?
A. 15%
B. 39%
C. 35%
D. 11% winner
@iamreff #RegSoc 30

31. Who's doing social well?
@iamreff #RegSoc 31

32. Twitter
Managing Crisis
Listening to Customers
Disseminating news
Source: kasina
@iamreff #RegSoc 32

33. MFS LinkedIn
Relationship building
Sales empowerment
Showcasing capabilities
Source: kasina
@iamreff #RegSoc 33

34. Facebook
Community building
Content promotion
Source: kasina
@iamreff #RegSoc 34

35. Thank you
John Refford
john@refford.com
@iamreff
refford.com
@iamreff #RegSoc 35