Social media has the potential to make or break your company. These days, consumers expect a lot from brands and their social media presence. According to a HubSpot report called, “The Social Lifecycle: Consumer Insights To Improve Your Business”, most consumers expect the brands they love to be on at least three to four social media channels. And it’s not enough to have an account with a few pictures and business information: how those social channels are managed is important, too.
More and more, consumers consider a business’s social stance a demonstration of their transparency and customer service. They are more likely to respect brands that respond publicly to feedback and inquiries, and quickly respond to private messages.
While it’s clear how important social media is to the businesses of today, cultivating a thriving presence is easier said than done. There are countless blogs, books, and videos on how to grow your social following use it to shape your marketing. However, one aspect of social media growth that doesn’t get enough public attention is compliance.
Compliance over social media is necessary for long-term growth. Smaller businesses can utilize compliance management to help scale upwards. By properly preparing at the onset, they avoid potentially massive issues later down the line. Larger companies can utilize compliance tools to deliver a consistent brand image across all social media accounts, locally and internationally. This is especially important for brands who have to cater to dozens of audiences in different countries and manage hundreds of campaigns worldwide.
Maintaining this consistency can be difficult for central governance teams to achieve, and some businesses utilize social media management tools like Brandle to keep compliant. Furthermore, many business owners simply don’t understand the power social media can have over the success of their businesses. One wrong post or move can hurt the business in such a way that it’s impossible to recover.
A report published by the New York Stock Exchange Services found that 91% of directors surveyed believe they don’t possess a thorough understanding of the social risks their companies face. And 10% are not confident in their ability to properly handle a situation should something occur.
To put it simply, social media compliance (and the tools that aid compliance efforts) help educate employees about potential risks and how to mitigate them, as well as help manage your online reputation. They place certain protocols to prevent and manage disastrous situations. It is essentially a social code of conduct, and one that cannot be ignored. Social media compliance can also:
- Help identify potential errors made by employees
- Prevent noncompliant messages through the use of compliance tools and policies
- Allow quick responses to information requests from stakeholders, regulators, and the general public
- Reduce the amount of prohibited content and avoid negative press and unwanted attention
- Archive topical conversations about your brand for future analysis and reproduction
- Help business owners better understand how their employees are using social media
Having these policies in place protects the best interest of the company and even protects your overall business reputation. It could also protect you in legal situations, too, by promoting accountability across all staff members. It’s better to be safe than sorry, and protecting your business on all ends is the first step to ensuring consistent brand rules across and platforms, no matter how small or large.