DRAWING THE LINE ONLINE: PROFESSIONAL VS. PERSONAL USE A WEBINAR FOR COMPANIES IN REGULATED INDUSTRIES
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1 DRAWING THE LINE ONLINE: PROFESSIONAL VS. PERSONAL USE A WEBINAR FOR COMPANIES IN REGULATED INDUSTRIES Join the conversation on Twitter: #socialmediawebinar
2 TODAY S AGENDA Overview & Introduction What is Online Marketing? The Empowered Consumer The Social Media Adoption Lifecycle Doing it Right Alphabet Soup: Compliance Overview What do the rules REALLY say? Which rules apply, and where? A glimpse of the future? Why Bother: The High Cost of Waiting Practical Solutions Online Marketing & Social Media Guidelines Structuring a Compliant Online Marketing Program Empowering Producers & Local Marketing Managing the Social Media Process Recap: 7 Take-Aways from This Session After the Webinar
3 TODAY S PANELISTS 3 Edgar Rodriguez, EVP, Distribion, Inc. Edgar built and sold a compliance software company, and heads the strategic team for Distribion, a leading provider of distributed marketing technology for insurance and financial services companies. Chad Bockius, CEO, Socialware Chad brings 11+ years of enterprise software and social networking experience from companies such as Bazaarvoice, BetweenMarkets and Trilogy to his role of CEO at Socialware. Stephen Selby, Director of Regulatory Services, LIMRA Stephen is part of LIMRA s Regulatory Services Strategy Center. The Center is responsible for assessing both global and domestic trends, regulations, and issues which impact our members businesses.
4 4 WHAT IS ONLINE MARKETING? Online marketing includes everything digital, from and websites to social media sites like YouTube, Facebook, LinkedIn and Twitter. Social media began as a place where people expressed their individuality and evolved into a marketplace. Most employees have a personal social media presence many have blended personal and professional networks. Regulators may (or may not) recognize a dividing line between personal & professional speech online. Many employees believe the line is clear.
5 THE EMPOWERED CUSTOMER Communication between companies and consumers is no longer a one-way street Empowered customers will have their say Echoes become distorted -- problems are amplified Every market is a buyer s market Prospects can (and do) filter out marketing messages Prospects can (and do) initiate and research purchases Social search and Twitter can affect your reputation in seconds and Google never forgets 5
6 MARKETING IN A REGULATED ENVIRONMENT Understanding the Alphabet Soup How many laws & regulations affect your marketing communications? Corporate marketing needs control to meet compliance standards Field sales & local agents need flexibility to meet sales goals
7 FIVE KEY COMPLIANCE FACTS 7 1. Regulators define things differently Publicly available site posts (Twitter, LinkedIn) are advertising Comments may be advertising or public appearances Privacy settings determine whether content will be advertising Chat room discussions are public appearances Posts to a group discussion are public appearances 2. ediscovery & archiving rules apply to ALL messages 3. CAN-SPAM applies to all social content opt-in & disclosure vs. opt out 4. Linking to third-party content implies endorsement 5. Firm is liable for all employee & producers posts
8 A LOOK INTO THE FUTURE? 8 Two bills might change the rules Rockefeller Do Not Track Act of 2011 Kerry-McCain Commercial Privacy Bill of Rights Act More regulations WILL come France, Germany, Massachusetts indicate where laws are going Regulation by enforcement action Marketing WILL get more complex Technology to manage compliance IS essential
9 WHY BOTHER? THE HIGH COST OF WAITING Early adopter phase is over Your brand, products, and COMPANY ARE online Customers expect a response at Internet speed If you aren t part of the conversation, you have no input, no chance to shape the dialogue Social media drives revenue Cartoon licensed for this presentation from Cartoonstock.com; used with permission. All rights reserved by Cartoonstock.com
10 ONLINE MARKETING & SOCIAL MEDIA GUIDELINES Opt-in, Opt-out Up-front disclosure is key Social media isn t private or casual Good social media policies protect your brand, limit liability Bad social media policies increase regulatory and reputation risks Technology can automate, streamline compliance People must be trained & persuaded to comply What percentage of employees comply with existing social media policies? According to security managers, less than half. 10 Data source: ncircle 2011 Social Media Security Trends Survey, June 27, 2011
11 SOCIAL MEDIA ADOPTION LIFECYCLE
12 THE DIGITAL & SOCIAL MEDIA PROCESS 12
13 EMPOWERING PRODUCERS & LOCAL MARKETING Local = credible, powerful Compliant empowerment Set a policy Monitor - train - remind (often) Automate where possible 13
14 RECAP & TAKE-AWAYS 1. Consumers drive social media Your mother was right You re already being discussed opting out is not an option 2. Everything is measureable done right online pays 3. Even restrictive regulations aren t a social media ban 4. Your industry defines whether there is a line between personal and professional speech Understand how regulators define content to comply 5. Learn the social media lifecycle and process for easier compliance 6. Policies should be clear and must evolve over time 7. Technology can automate and track compliance Compliance education & persuasion are ongoing
15 MEET THE SPEAKERS IN PERSON Click for details. Mark Your Calendar for Our Next Webinar: Reaching Your Audience Effectively The 5Ws of Online Marketing Wednesday, August am to Noon CDT
16 AFTER THE WEBINAR Download this presentation and share the recording Connect with the panelists Join us on Twitter to continue the discussion: #socialmediawebinar Edgar Stephen LinkedIn Chad LinkedIn Keep up with the latest news on multi-channel marketing in a distributed environment with The Distributed Marketing Blog Attend a LIMRA event. Look in your in-box for the Q&A with answers to any questions we didn t get to today!
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