How to Use Social Media in Highly Regulated Industries

How to Use Social Media in Highly Regulated Industries

There are highly regulated industries including finance (banking & insurance), healthcare (pharmaceuticals & hospitals) and legal advising which are under strict requirements regarding advertising and marketing. Creating a social media strategy for these highly regulated sectors is a challenge. Yet, it should not be a reason to abandon this channel. It just requires more attention, organization, and diligence.

Do Your Research

Before developing your own social media strategy, take your time to research competitors. What are they posting about? Is there a certain frequency? What kind of graphics are they using? How do they stay compliant? Would you change anything about how they do it within the given requirements?

Set Goals

After you have a clear understanding of what is happening in your sector, develop a set of goals for your pages. What are you trying to achieve through social media? Do you want to generate awareness? Do you hope to get people to take action? Are you using it as a way to display achievement? Attach numerical levels to measure success.

Create Guidelines

 Make a list of topics which are acceptable for the online environment. Study both your industry’s regulations and social media policy regarding the types of images that are acceptable to be displayed online. Make a list of the words you can use and those that are banned. Develop a brand voice description that will be used in conversations with followers.

Learn to be Compliant

Healthcare and banking have the strictest regulations. Before creating any content, the marketer should be aware of HIPAA for social media or similar rules for the banking industry. Also, aim to have a good understanding of social media guidelines.

Create an Approval Process

In these industries, it is a good idea to have your social media content checked by a paralegal. This might slow down the creation and publication workflow. You just need to think ahead a few weeks.

Prepare a Content Calendar

Don’t rely on the moment’s inspiration, create a clear schedule of what you want to publish, complete with copy, images and relevant links. Pre-load your profiles with content and ask the paralegal to look at it before publishing.

Think in Checklists and Templates

To simplify tasks and avoid mistakes create lists (time/info/compliance/accuracy) and don’t be afraid of templates. If you have a distinctive corporate culture, these will not be boring, but create consistency.

Don’t worry if you have to manage the profiles of businesses in highly regulated industries. Just follow our steps. We encourage you to comment or reach out to us if you have comments or need more guidance.