Social Media

WHY SOCIAL MEDIA COMPLIANCE IS ESSENTIAL FOR THE ENTERPRISE IN 2015

Best practices to monitor and implement social media policy

www.cafyne.com

COntEntSENTERPRISE SOCIAL MEDIA LANDSCAPE

SOCIAL MEDIA USE CASES IN THE ENTERPRISE

MARKETING

CUSTOMER SERVICE

EMPLOYEE ADVOCACY

TALENT ASSESSMENT

INDUSTRY SOCIAL MEDIA GUIDELINES

TRAINING AND COMPLIANCE

PROACTIVE AND REAL-TIME INTERVENTION

EMERGING VENDOR LANDSCAPE FOR SOCIAL RISK AND COMPLIANCE

HOW CAFYNE CAN HELP YOU LAUNCH A COMPLIANT SOCIAL MEDIA PROGRAM

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EntErprISE SOCIAL MEDIA LAnDSCApE According to the 2014 State of Enterprise Marketing Report by Forrester, 98 percent of companies market on at least

one major social media platform with three out of four companies measuring their business value based on audience

response to social marketing. The acceptance of social media as a part of the marketing strategy is on the rise. Last

year, 69 percent of large companies increased their staffing for social marketing.

Facebook and LinkedIn are the two most popular social media platforms for marketers. These platforms are a great

place to exhibit your company’s personality and work culture. Marketing on social media is done through posts, videos,

promotions and targeted campaigns. Companies can also increase their brand influence by posting material that would

interest their target audience and trending topics relevant to the brand or business industry.

SOCIAL MEDIA uSE CASES In thE EntErprISE

MarketingSocial Media is a value-add to online content.

The interactions of users with information

shared online (through likes, comments and

shares) greatly contribute to how certain

information is perceived. Some of the most

popular social media platforms among enterprises

today are Twitter, Facebook and LinkedIn. Social

Media allows you to not only share user-generated

content but also create it – an activity, rapidly

gaining popularity, not just among people but also

among brands and enterprises.

Social Media has proven to be an ideal platform for

enterprises to reach billions of people across the globe

– all with the single click of a button.

Customer ServiceCustomer service is presented with an interesting

opportunity with social media. By providing social

media based responses to customers, the community

is more empowered to share their experiences. Many

organizations are providing customer service channels

on key social media platforms. However, the risk of

unfavorable feedback can harm the organization’s

brand - so listening and responding in near real-

time is essential to contain any potential damage.

In addition, regulated industries need to meet the

guidelines corresponding to the use of social

media.

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Employee Advocacy By enabling employees to participate in their

social media outreach, organizations have an

opportunity to amplify their reach and increase

the authenticity of the message. Many in the

regulated industry are barred from using social

media. This can be counterproductive as denying

use of social media reduces the organizations foot

print and provides an opportunity for competitors to

advance their offerings.

By being able to discover employees and partners

who have a wide social media following on social

media platforms, and are viewed as credible and

trustworthy online ambassadors allows organizations

to channel authentic conversations with partners

and prospects. This invisible layer of talent is often

comprised of skilled online networkers who become key

influencers driving the conversations around company’s

product, services and brands.

By championing employee advocacy, organizations can get

significant benefits, including improved employee morale,

increased traffic to websites and higher quality leads.

Talent AssessmentOrganizations need tools to measure the real impact

different influencers have on their community

campaigns and optimize their social outreach strategy

based on reliable analytics and insights. They

need to be able to measure which posts are most

effective across social media channels. By collating

metrics over time, organizations can assess which

employees are providing the most impact on the

community in the organization.

In addition, by being able to track social media

usage by employees, organizations can also

gauge the sentiment of the organization and

reward positive engagement. They can include

social media analytics as part of their employee

talent assessment frameworks providing

another data point for talent assessment.

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InDuStry SOCIAL MEDIA GuIDELInES Information shared by enterprises have to be compliant with industry regulations and

standards such as;

• FederalFinancialInstitutionsExaminationCouncil(FFIEC)forfinancialinstitutions

• Food and Drug Administration (FDA) for healthcare institutions

• Federal Trade Commission (FTC) for retailers and commercial institutions

• General regulations like the Securities and Exchange Commission (SEC), National Labor

Relations Act (NLRA), Children’s Online Privacy Protection Act (COPPA), Disclosure

Guidelines, Digital Millennium Copyright Act (DMCA), Computer Fraud and Abuse Act

(CFAA) and the Communications Decency Act (CDA)

Social Media is a double-edged sword – while it is fully capable of catapulting your business

to the forefront of the market, it also brings with it a plethora of unprecedented risks and

concerns. By putting a Social Media compliance program in place, enterprises can reap the

benefitsofsocialmediaoutreachwhilereducinganyinherentrisktothebusinessstemming

from broader employee engagement

To ensure a productive social media experience, it is the responsibility of the enterprise to

develop guidelines that optimize social media use for both regulated and unregulated roles.

These guidelines form the foundation of an enterprise social media compliance function and

should seamlessly integrate into the marketing, legal, customer service, human resources,

IT security, audit and risk management departments. Given the high volume of data emitting

from social media activity, enterprises need to embrace the technological capabilities required

to put the compliance function in place.

trAInInG AnD COMpLIAnCESocial Media Compliance begins with a firm’s social media policy. It is the responsibility of the company

to define how it wants to engage with the world via social media and how it will enable its employees

to do the same. Social Media policy formulation may be a collaborative effort of an organization’s

communications, HR, marketing, IT, legal and compliance department.

Once a social media policy is in place, an enterprise’s next step would be training its employees to stay

within its legal boundaries. This step is critical to meeting the regulatory standards set by authorities.

Failing to provide the right training to employees about social media is one of the most common reasons

for the failure of an organization’s social media policy.

Rule 17a-4 (b) of the U.S. Securities and Exchange Commission states that all employee business

communications on social media should be archived for a minimum period of three years.

prOACtIvE AnD rEAL-tIME IntErvEntIOnWhether engaging with Social Media in Marketing or Customer Service, with the increase in

the quantity of interactions, ‘its not a matter of if but when’, a post will become viral for the

wrong reason catapulting the company into a PR crisis. To reduce the probability of such an

eventuality is the job of every marketing and customer service leader.

By employing specialized software to prevent rogue posts from reaching the Internet, the

organization can be assured that their reputation is maintained while they also meet the

requirements of their regulators. In addition all social media posts need to be archived to

ensure easy retrieval in case of an audit or e-discovery. Social media monitoring tools help

organizations identify counterproductive social media interactions and respond to them

effectively.

EMErGInG vEnDOr LAnDSCApE fOr SOCIAL rISk AnD COMpLIAnCESelecting the right tool is important for enterprises based on their usage. These tools can be

broadly classified into the following groups:

To meet the varied demands of the organization, whether it is to meet the needs for marketing or

customer service, organizations need to ensure their social media tool can:

• monitor,moderateand enforce controls across multiple social accounts

• automate review and other compliance processes using workflow capabilities

• capture social data and satisfy archiving requirements

• provide real-timecompliancealertsusingautomatedpre-definedrules

A comprehensive tool that provides these capabilities can provide a robust platform for a

company’s social media strategy.

Social Marketing and Social

Selling Platforms:

These are selling tools that

help improve engagement of

large sets of employees on

social media but don’t provide

compliance obligations. These

platforms also lack tools that

help you define key influencers in

the organization.

Social Listening Platforms:

These are platforms that monitor

brand activity on social media

platforms but are not suited to

manage social risk arising from

employee engagement with

social media.

Social Archiving Tools:

These tools help enterprises

maintain public records of social

media for audit and regulatory

purposes. Though these tools

support compliance, they are

reactive and do not cover all risk

scenarios.

hOw CAfynE CAn hELp yOu LAunCh A COMpLIAnt SOCIAL MEDIA prOGrAMCafyne’s enterprise solutions are designed for better social

media risk management in the age of pervasive social

media use by employees, partners and customers. Cafyne.

com. brings to market a unique comprehensive enterprise

social media risk management solution which combines

expert social media policy development and training with

a Software-as- a-Service based predictive analytics-driven

engine, empowering employees and partners to generate

impactful and risk-free social content.

Cafyne.com provides a prebuilt rules library to help

implement the organizations social media policy designed

to mitigate risks such as brand and marketing violations,

unauthorized IP disclosure, phishing, cyberstalking,

regulatory violations and more. The solution also leverages

pre-built industry specific compliance rule libraries which are

continuously updated to stay relevant and in accordance with

new regulations. Cafyne.com enforces real-time compliance

using predictive analytics to score all content, flag non-

compliant posts and identify relevant employee influencers

across multiple social media networks..

Cafyne is the first social media compliance vendor to optimize

social media listening for employee compliance

monitoring.

Gartner, Cool Vendors in Risk Management, 201428 April 2014 G00262306

Analyst(s): John A. Wheeler | French Caldwell