social media best practices for highly-regulated industries

Today’s Agenda Layers of risk unique to regulated industries Universal social media best practices Social media best practices for regulated industries Do’s and don’ts

Layers of RiskRegulated industry rules• Financial regulations: FINRA, SEC• Healthcare regulations: HIPAA, FDA

Company and corporate rules• Financial: Brokers and Planners• Medical: Groups/Subsidiaries

Layers of RiskAs they say on Facebook….

Layers of RiskBut….• Because of these risks, your competition may be reluctant to establish

a social media presence• This creates a big opportunity to stake your claim

Universal Best PracticesHave the right social media goals• Increased sales are an outcome, not a goal• Establish realistic short-term social media goals• Drive website traffic• Increase brand awareness• Strengthen communication with clients or patients

Universal Best PracticesEstablish your business on the proper outlets• Play to the communication strengths of your company• Match channels to appropriate target audience

Regulated Industry Best Practices

Know the rules• Know legal policies and guidelines• Know company rules• Protect privacy of clients and patients• Use common sense• Be aware of the “gray area”

Establish a solid execution plan• Even more important for regulated industries• Develop a clear content approval process• Devise a system for handing negative feedback• Know how to take conversations offline

Regulated Industry Best Practices

Do’s and Don’ts

Don’t • Share client or patient information• Ignore your audience

Don’tShare private information

Don’tIgnore your audience

Do’s and Don’ts

Be careful • Remain cautious of mentioning personal stories, even if you don’t

specifically mention the patient’s or client’s name• Ignorance (of “minor” rules) may not be bliss

Be carefulKnow the rules

Be carefulMentioning others

Do’s and Don’ts

Do• Post internal company news such as new hires or employee shout-outs• Humanize your business, share with your audience and have appropriate fun

DoHumanize your business

DoShare information

DoShare relevant historical references

DoShare did you knows/facts

DoShare Events

DoCompany news and updates

Summary Understand your unique social media opportunity as a

highly-regulated business Implement universal and regulated industry best practices Establish a strong execution plan Always know, there are social media tactics you can use

know matter what industry you’re in

Rachel StrellaOwner, Strella Social media

e: rachel@strellasocialmedia.com t: @RachelStrella

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