3 Facebook tips for highly regulated industries

Facebook’s decision to stop disabling comments on pharmaceutical company pages has spooked the industry. If you’re in a similar situation, don’t shut down your Facebook wall. Team up with the governance people at your company to use social media intelligently and with as little risk as possible.

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Seems the walls protecting Walls are coming down. Several companies, including Johnson & Johnson and AstraZeneca, are planning to pull their Facebook Walls, if they haven’t done so already. It may seem like the path of least resistance, but according to a new article in Corporate Secretary, a hasty decision could be costly down the road.

Instead of scrapping an investment in a Facebook presence, marketing and governance professionals should team up to use the platform intelligently and in a way that keeps risk to a minimum. This is obviously a pressing issue for the pharmaceutical industry, where both risk and marketing budgets are high, but it can be applied universally.

In an interview with Michelle Sherman, special counsel at Sheppard Mullin Richter & Hampton, Corporate Secretary identifies five tangible ways to keep risk contained without having to sacrifice fully the social media marketing upside:

1. Knowledge is power. Employees need sufficient training on both professionalism and ethics before being turned loose on social media platforms. Also, it’s good to know that “privacy settings of social media do not translate into a privilege in litigation.”

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