Regulations and compliance can be overwhelming, so overwhelming in fact that this is often the cause for innovation paralysis. Companies become so concerned with remaining compliant that they're unwilling to try anything new, even if those new programs could improve the customer experience and the fiscal wellness of the company.
Additionally, marketers need to offer targeted, personalized marketing content that will help them get their message to the right people. But these marketers are burdened with the safeguarding of information, opt-in requirements, and allowable use of data. Often marketers are pulled between marketing best practices and what's permitted by compliance. These marketers must understand how to align both marketing and compliance best practices.
What do you mean by compliance?
Compliance can refer to a myriad of thing, and perhaps this is why the topic is overwhelming. Compliance can refer to permissible communications monitored by the FDA, FINRA, HIPAA, and the HITECH Act. Compliance can also refer to ABA requirements like font size, audio, and visual requirements.
Regulations can be federal and regional. This certainly places added strain on departments to understand what can and cannot be communicated across regions and the variance tied to language requirements.
Compliance can also be tied to the ethics of communication execution. Consider the duplication and cloning of sites, spamming by sending mass emails and lacking opt-in permissions, domain squatting, diverting traffic through deceptive links and cookie stuffing, inflating clicks to a program, stealing credit card information, brand bidding, and violating the IAB & PMAs codes of conduct.
As you can see, compliance and regulation do not impact just those highly regulated industries like financial services and life sciences. If you offer software downloads, accept online payments, or market to regions that require opt-in, then you are impacted.
What should be our focus?
Over the next several weeks we'll explore the balance of marketing and compliance best practice. We'll explain the best practices around basic language rules, redundancy avoidance, technology roll-out, legal and marketing team alignment, lead time, and the importance of simplicity. We'll also discuss the processes around education development and reinforcement, and knowledge transfer, as well as the creation of SOPs, opt-ins and subscription centers
As you read along with this series it's imperative to remember that compliance is not just about buying technology, it's about culture. In this series we'll certainly touch on technology and the value technology can bring to the compliance process, but ultimately we'll guide you through the development of a compliant and regulatory friendly culture.
What compliance and regulation questions do you hope to have answered during this series?