Social networking is gaining rapid adoption by business professionals to increase brand awareness, client prospecting, and customer retention and loyalty. As reported by Smarsh, 79 percent of Fortune 500 companies use Facebook, Twitter and LinkedIn to communicate with customers. Financial marketing and communications firm Ledermark found that 85 percent of financial services professionals under 50 are using social media. As this communication channel matures, these numbers are sure to increase.
Social media communication carries with it a wide array of legal risks, and as such requires the same compliance principles that govern e-mail and IM retention — this extends to tweets and LinkedIn profiles, as evidenced in recent cases and regulations. In the City of Ontario v. Quon, the Supreme Court unanimously ruled that the City of Ontario did not violate its employee’s right to privacy by auditing messages sent over a company-issued pager. FINRA Regulatory Notice 10-06 affirmed that FINRA-registered financial firms are responsible for supervising the use of social networking sites and retaining messages.
Whether your firm allows social networking or not, employees are using these sites to help them build business, leaving the company open to compliance violations. Therefore, it is essential to ensure company internal policies and archiving systems extend to these channels to remain compliant. Smarsh has provided the following information with regard to social media compliance.
Seven Issues Making Life Difficult for Windows Phone 7 Can Microsoft beat the odds and make Windows Phone 7 a success? -
Ten Reasons Why the IT Job Market Is Hot in 2010 IT remains a great career path for people already in the field, and for those considering it.
Eight Steps to Leveraging Social Networks in Your Job Search Eight steps to focus your online job search.
Predictive analytics uses past data to forecast outcomes and target the right prospects – a move that's redefining the use of data and insights in marketing. ... More >>
Five steps CIOs and CMOs can take to patch the IT/marketing disconnect and create a cohesive, efficient working environment. ... More >>
When executed properly, an email marketing strategy can result in a 4300 percent return on investment (ROI). If you're not seeing that kind of return, give these tips a try. ... More >>