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Social media presence is no longer optional. Your customers expect it, and, at this point, failing to be active on social media could cost you important opportunities. A recent article for Banking Exchange, authored by three team members at Buckley Sandler L.L.P., offers a number of considerations in regards to establishing a company-wide social media policy.

The authors highly recommend that companies develop a firm social media policy and require all representatives of their organization to adhere to it. They offer the following advice for establishing a company-wide social media policy:

  • Develop a blueprint for responding to inbound activity on social media (e.g., customer communications).
  • Consider what level of social media record keeping is best for your organization.
  • Related to the previous point, consider employing a forensic collection of data related to your organization’s social media accounts.
  • Develop a social media policy that fits with the regulatory framework of your industry (consult CFPB and FTC guidance, as well as your own counsel, to insure compliance).
  • Establish clear guidelines for responding to customer complaints.
  • Pay close attention to privacy issues.

For more details, read the article in full at Banking Exchange.