social media in regulated industries

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Leveraging Social Media In Regulated Industries Jason Falls Doe-Anderson SOMESSO London May 15, 2009

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Leveraging Social Media in Regulated Industries - A presentation by Jason Falls for SOMESSO - May 15, 2009 - London, England

TRANSCRIPT

Page 1: Social Media In Regulated Industries

Leveraging Social MediaIn Regulated IndustriesJason FallsDoe-Anderson

SOMESSOLondonMay 15, 2009

Page 2: Social Media In Regulated Industries

It’s A New Way Of Marketing Honesty Transparency Responsiveness Conversation

Page 3: Social Media In Regulated Industries

Banking Pharmaceuticals Health Care Insurance Publicly Traded Companies Spirits

Page 4: Social Media In Regulated Industries

Truth In LendingTruth In Savings & Overdraft

ProtectionFull DisclosuresAll Communications Pre-Approved

Page 5: Social Media In Regulated Industries

Cannot Promote Ancillary Benefits Consumer comments on corporate

website still responsibility of company Off-site discussions involving company

officials can be construed as corporate communications as well

Page 6: Social Media In Regulated Industries

Government Mandated Review & Approval

Privacy Laws

Medical Advice Given Exposes Liability

Page 7: Social Media In Regulated Industries

Individual State Regulations (U.S.)

No Advice Unless Licensed In Specific State

Customers Will Ask For Advice

Page 8: Social Media In Regulated Industries

Regulation Fair Disclosure

Blogger Relations Challenge

Open Discussions Open Opportunity For Leaks

Page 9: Social Media In Regulated Industries

Self-Regulating Industry

Multiple Organizations World Wide

High Standards, LPA+ Audience

It’s The Right Thing To Do

Page 10: Social Media In Regulated Industries

Distilled Spirits Council of the United States

Code of Responsible Practices for Beverage Alcohol Advertising & Marketing

www.discus.org

Page 11: Social Media In Regulated Industries

Alcohol advertising/marketing intended for adults of LPA who choose to drink

No advertising in any manner directed or primarily appealing to persons below LPA

Advertising/Marketing Communications should only be placed in mediums where at least 70% of the audience is LPA * (Beam Global - 75%)

No depiction of children or images that appeal to children No Santa Claus (yep, it is its own rule.) No rite of passage messaging Actors must appear 21 but must be at least 25

Page 12: Social Media In Regulated Industries

Social Responsibility & Good Taste Codes Nothing that depicts anti-social, illegal or irresponsible

behavior

No indecent images or language

No religious themes

No overt sexual activity, promiscuity or sexually lewd images or language

Page 13: Social Media In Regulated Industries

Website Codes

Must Have LPA Gateway

Hinders Search Engine Results

Blocks Content

Must Provide Parents Blocking Software

Page 14: Social Media In Regulated Industries

Rules Are There For A Reason

Not The Rules, But The Policing

We Cannot Circumvent Them

Page 15: Social Media In Regulated Industries

User-Generated Content

Must Comply With Policy, Copyright, Trademark

On Our Website, Our Responsibility

Immediacy Of Conversation

Page 16: Social Media In Regulated Industries

How To SucceedHow To Succeed

Get Buy-in From Above

Work Closely With Legal/Compliance Team

Educate, Educate, Educate

Approach Content & Moderation As A Team

Develop Agreed Upon Response Timelines With Definitive Outcomes

Page 17: Social Media In Regulated Industries

Beam Global ExamplesBeam Global Examples

Beam Baja Twitter Tracker

Bill’s Blog

Canadian Club Facebook Group

Jim Beam “The Remake”

Page 18: Social Media In Regulated Industries

Don’t Forget!Don’t Forget!

Regulated Industries Present Opportunities To Innovate

Your Legal/Compliance Teams Are On Your Side

Bureaucratic Systems Can Be Nimble With Consensus

You Can Market Using Social Media Within The Rules

Page 19: Social Media In Regulated Industries

Let’s ConnectLet’s Connect

Jason FallsVP, Director of Interactive

& On-Line Communications

Doe-AndersonLouisville, Ky.

[email protected]

Twitter: @JasonFalls

+1.502.815.3257

www.socialmediaexplorer.com