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www.emoderation.com How to use social media within the financial services regulatory environment Lisa Barnett Social Media Services Director, Emoderation
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Best Practice for Marketers in the Financial Services market ensuring their content is compliant with the FSA
Transcript of Emoderation.lisa barnett.dma financialservices.october-2014
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How to use social media within the financial services regulatory environment
Lisa Barnett
Social Media Services Director, Emoderation
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Top financial Facebook accounts
Stats on social media
Source: Social Bakers, August 2014
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Top financial Twitter accounts
Stats on social media
Source: Social Bakers, August 2014
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Stats on social media
Source: Social Bakers, August 2014
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Top financial G+ accounts
Stats on social media
Source: Social Bakers, August 2014
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Top financial YouTube accounts
Stats on social media
Source: Social Bakers, August 2014
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Social media and customer communications Investment product promotions on Twitter should include the
#ad to ensure firms meet the specific requirement that investment product promotions can be clearly identified as such
Each communication should be considered individually in its own right and it must comply with relevant rules
Consider inserting images into tweets to convey risk warnings or other required statements
Consider using images instead of text
FCA Guide Consultation August 2014
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Financial Conduct Authority said:
FCA’s approach to financial promotions in social media
“ There is an overarching
principle that any communication should be fair, clear and not misleading.”
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Basic principles Community Managers follow
Be transparent and genuine
Have a two-way conversation
Ensure consistency
Listen to what your customers are saying
Be proactive, rather than reactive
Respond to negative and positive comments
Create compelling and relevant content
Develop a tone of voice
Build awareness about brands and products
Don’t overshare
Social media best practices
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Five ‘Dos’ of using social media and staying compliant!
Social media best practices
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No 1: Always apply the ‘is it clear, fair and not misleading’ rule
The five ‘Dos’
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No 1: Always apply the ‘is it clear, fair and not misleading’ rule
The 5 Do’s
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No 2: Does it stand alone if someone retweets/shares it?
The five ‘Dos’
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No 3: Use hashtags to show it is a promotion
The five ‘Dos’
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No 3: Use hashtags to show it is a promotion
The five ‘Dos’
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No 4: Target your audience
The five ‘Dos’
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No 5: Keep it personal
The five ‘Dos’
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No 5: Keep it personal
The 5 Dos
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Five ‘Don’ts’ of using social media and keeping compliant!
Social media worst practices
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No 1: Don’t ignore your customers
The five ‘Don’ts’
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No 2: Keep your space clean
The five ‘Don’ts’
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No 3: Make sure your presence is verified
The five ‘Don’ts’
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No 4: Try to communicate through one channel
The five ‘Don’ts’
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No 4: But don’t forget what you have set up
The five ‘Don’ts’
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No 5: Don’t try to control the conversation
The five ‘Don’ts’
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No 5: Expect a backlash
The five ‘Don’ts’
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Summary
Summary
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Q&A
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Emoderation LtdThe Media Village131-151 Great Titchfield StLondon W1W 5BBUK
© Emoderation Limited 2014. This document is the intellectual property of eModeration Limited and may not be duplicated or disclosed to any third party without the written permission of an authorised officer of the company.
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