Social Media in Regulated Industries

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This post was written by Brittany VanBibber

Working in a regulated industry (pharmaceuticals, finance, medical, etc) isn’t typically seen as a social media-forward place to be. But “Making Social More Social Within Regulated Industries” (hosted by LiveWorld and Pfizer) tried to address that topic today, with three separate panels.

The first featured executives from MasterCard, W2O, and Citibank. “As an industry we have to face the fact that we’re headed for content pollution,” said Andrew Bowins, Senior Vice President of Communications and PR for MasterCard. “We have to step back and start to think about what we’re trying to actually achieve.”

As the conversation continued, the group honed in on key ways to win in a regulated world, like keeping open conversations with the legal team, to gain trust, and using data to prove what’s harmful for the brand, and what can be beneficial. Vice President of Social Media and PR at American Express, Mona Hamouly noted that they still have to get tweets approved before posting live. This process can take anywhere from “Three hours, to three days, to three weeks,” she said.

However, there have been big strides in some spaces. These regulated industries are seeing advantages in mobile and in consumer engagement on various social platforms — and there are companies paving the way. Its an exciting future for this arena.

Brittany VanBibber is a senior at NYU studying Journalism and Economics. She is also shamelessly addicted to coffee and social media. You can find her on Twitter at @BritVanB.

Brittany is one of our SMW Press Corps members, managed by OpenCommunications. Learn more here.

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