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It's All About Engaging Authors: Jim Kaskade, PR.com Newswire

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Full speed ahead: FINRA social media regs remove “excuses for delay”

Full speed ahead: FINRA social media regs remove “excuses for delay”

By D. Bruce Johnston, DBJ Associates

Researchers and compliance officers are rallying around FINRA’s landmark 10-06 rule on social media-driven investment communications to give guidance to legions of newly energized investment marketers.

Marketers rejoice: Hedges

Marketers rejoice: Hedges

“We’re seeing new levels of enthusiasm among marketing communications project managers,” said Zach Hedges of Advisolocity recently. “Marketers on a tight budget see sunlight through the clouds.” He credits freeware networking site Linkedin, Twitter and WordPress for a lot of the investment marketers regained optimism.

“They are  just glad they can start telling a story again. That’s all,”  he added.

Financial research firm Nemertes signals happy days for thrifty marketers too in an online report: “The new guidelines bring clarity, but remove excuses for delay.”

Without delay, it’s full speed ahead for SMM.

However, Nemertes cautions the tidal wave of consultants, archivists, communications specialists, compliance firms and social media strategists, to get busy carefully: “Plan to converge or add social media features and capabilities with security solutions for communications media like email and IM.”

Meanwhile, the legal profession is hard at work decoding 10-06 for peers and marketers. Winston & Strawn’s Robert Boresta is scheduled to speak at Knowledge Congress’ Live Webcast on FINRA Guidance on Social Networking Sites on May 4.

Will low budgets prevent marketers from taking advantage of all of this good news? Not likely: media types can breathe easier following a new study quoted by Marketing Pilgrim that while 40% of marketers report budgets down for the year, 70% plan to redeploy their resources from traditional print and advertising to Twitter and Facebook marketing.

The resource shift is sure to accelerate as marketers and compliance officers now find common agreement.

The last impediment to utilizing the cost-efficiencies and creativity of social media programs has been removed. Perhaps a new era of responsible, spontaneous, transparent communication can help put back some heart in the troubled securities industry.

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More Stories By D. Bruce Johnston

D. Bruce Johnston, President | COO, CaptureTrackConvert is regarded as a high-energy, results-driven Financial Services Distribution Executive. His 30+-year career has been distinguished by an impressive record of accomplishments, contributions and winner of the Institutional Investor Fund Marketer of the Year award. CaptureTrackConvert (CTC) provides easy to use, powerful enterprise level marketing automation software to fast growing SMBs. CTC is dedicated to helping SMBs maximize their marketing resources, improve the effectiveness of their marketing campaigns and generating more sales ready prospects thus dramatically improving sales and the bottom-line.