My compliance officer...

My compliance officer and other animals

May I state the bleeding obvious?

If you're marketing regulated products and services, it has to be done within the straitjacket of compliance.

You already know this.

Maybe that's why you've shied away from social media marketing.

Given the space constraints of some social networks...

...it can be difficult to ensure your message is sufficiently balanced to satisfy the regulators.

But, while this is a complex area and you should always follow appropriate compliance procedures...

... here are a few strategies which may help you stay on the right side of the regulations.

[N.B. The following points are based on the regulations in the United Kingdom as overseen by the Financial Conduct Authority. Regulations in other jurisdictions may differ. In any case, this article is for general information only and should not be relied upon as legal advice.]

1. Use infographics

It can be tricky to get your whole message and a risk warning in a tweet or LinkedIn update, but don’t forget both platforms allow you to also post an image, which could allow you to include extra information as required.

In fact, the FCA itself suggests this as a possible strategy.

2. Target effectively

FCA guidance also mentions that promotions should be sufficiently targeted to make sure they remain clear, fair and not misleading whomever they end up in front of.

By using ad targeting options on sites such as Facebook and YouTube you can help fulfil this criterion at the same time as trying to reach the most appropriate and likely-to-convert audience.

3. Use #ad

By using a tag such as “#ad” in your posts (where relevant) you can clearly mark them out as promotions, a requirement for investment products.

While this won’t get you out of doing all the other appropriate checks, it clearly identifies the nature of the post without wasting too many of your limited characters.

4. Keep records of what you post

Don’t assume that because all your posts are available to view on Twitter, Facebook, etc. that will be enough. You’re not in control of these sites and they could remove content at any time.

Be sure to keep your own records in order to comply with the FCA’s regulations.

5. Make the most of technology

By using social media marketing software such as Hootsuite or CrowdControlHQ, you can manage all your social media activity in one place, and control who is able to post what.

Need help with some of this stuff?

We’ve been specializing in marketing for the financial sector since 2006 with clients and experience encompassing Experian, Hargreaves Lansdown, Societe Generale, Direct Line, Legal & General, as well as dozens of smaller businesses.

Maybe we can help you in some way, too?

To explore the idea, please schedule a quick initial chat with me here.

I’ll let you know if I think we can help.

Or point you in the right direction, if we can’t.