Many marketers are unaware of rules and regulations guiding social media. Knowledge of these laws is important, especially for marketers using social media to engage with potential customer base. The difficulty is in the fact that these policies vary across international borders, and sometimes differ between the states. Some of the areas regulated by rules and laws include privacy considerations, data storage and security, as well as data sharing. Additional, and much more strict rules, apply to financial institutions using social media in their marketing campaigns.
- Although social media platforms can seem free-wheeling, there are rules for how such sites can engage with the public. They come from various venues.
- Besides regulations that are strictly to do with the industry, social media sites must also comply with rules instituted by federal, state and local regulators.
- Sites with an industry slant may also be hampered with rules from more than one industry to comply with.
“Compliance obligations can be quite complex. Especially for social marketers working in regulated industries like healthcare and finance.”