Social Media in Highly-Regulated Industries
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The Importance of Social Media Compliance in Highly Regulated Industries with Rachel Strella www.strellasocialmedia.com
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The role of technology and social media in today’s business landscape Regulated industry risks Making the case for social media Universal best practices Best practices for regulated industries Establishing a solid social media policy Tackling confidentiality and security concerns Do’s and don’ts of using social media
Transcript of Social Media in Highly-Regulated Industries
The Importance of Social Media Compliance in Highly Regulated Industries
with Rachel Strellawww.strellasocialmedia.com
Today’s Agenda
The role of technology and social media in today’s business landscape
Regulated industry risksMaking the case for social mediaUniversal best practices
Today’s Agenda
Best practices for regulated industriesEstablishing a solid social media policyTackling confidentiality and security
concernsDo’s and don’ts of using social media
Modern technology =increased business efficiency
Modern Technology & Social Media
Modern technology =Social media
Modern Technology & Social Media
Modern technology & social media =A staple in our daily lives
Modern Technology & Social Media
Modern technology & social media =A staple in business
Modern Technology & Social Media
Modern technology & social media =Helping organizations stay ahead of the curve
Modern Technology & Social Media
Regulated industries are reluctant to embrace social media because of complexity and fear
Layers of Risk
Legal ramifications in regulated industries• Financial regulations: FINRA, SEC• Healthcare regulations: HIPAA, FDA
Layers of Risk
Draft of Page 3 of FDA’s Social Media Guidelines
Layers of Risk
Company and corporate rules• Financial: Investment advisors and brokers• Healthcare: Groups and subsidiaries
Layers of Risk
Draft of Page 2 of Vanderbilt University Medical Center’s Social Media Policy
Layers of Risk
As they say on Facebook….
Layers of Risk
But….• Because of these risks, your competition
may be reluctant to establish a social media presence
• This creates a big opportunity to stake your claim
Making the Case for Social Media
Making the Case for Social Media
The numbers tell all…
Making the Case for Social Media
If nothing else, monitor what’s being said online
Have the right social media goals• Sales are an outcome, not a goal• Establish realistic social media goals
Universal Best Practices
Establish your business on the proper outlets• Play to your strengths• Match channels to target audience
Universal Best Practices
Know the rules• Know legal policies and company rules• Protect privacy of clients and patients• Use common sense• Be aware of the “gray area”
Industry Best Practices
Establish a solid execution plan• Even more important for regulated industries• Develop a clear content approval process• Establish a system for handing negative
feedback
Industry Best Practices
Policy should address:• An overall purpose • Internal and external use guidelines• Compliance and confidentiality concerns• Applicable third-party references• Examples or scenarios for clarification
Social Media Policy
Social Media PolicyCentral Intelligence Agency (CIA) Social Media Policy
Social Media PolicyDepartment of Interior Social Media Policy
Social Media PolicyMerck Social Media Policy
Social Media PolicyMerck Social Media Policy
Social Media PolicyNational Security Agency (NSA) Social Media Policy
Social Media PolicyHealth and Human Services (HHS) Social Media Policy
• Security and privacy are behavioral issues, not technology issues• Personal data, financial information and
confidential files or photos should not be published online
Confidentiality & Security Concerns
Take proper precautions•Download anti-virus software•Use caution with links and downloads•Use strong, unique passwords• Be cautious of who you connect with
Confidentiality & Security Concerns
Take proper precautions•Do not assume privacy• Configure privacy settings•Use discretion before posting online• Review site privacy policies
Confidentiality & Security Concerns
Don’t: Share private information
Do’s and Don’ts
Don’t: Ignore your audience
Do’s and Don’ts
Don’t: Ignore your audience
Do’s and Don’ts
Don’t: Ignore the rules
Do’s and Don’ts
Don’t: Reference patients or clients
Do’s and Don’ts
Do: Humanize your business
Do’s and Don’ts
Do: Humanize your business
Do’s and Don’ts
Do: Share relevant information
Do’s and Don’ts
Do: Share relevant information
Do’s and Don’ts
Do: Share Behind-the-Scenes
Do’s and Don’ts
Do: Share Events
Do’s and Don’ts
Do’s and Don’ts
Do: Share Company News and Updates
Do’s and Don’ts
Do: Share Company News and Updates
Got Social?
Rachel StrellaOwner, Strella Social Media
Website:www.strellasocialmedia.comEmail: [email protected] Twitter:@RachelStrella
