You Cannot Be Serious! 48 Hour Service Level Agreement on Tweet Approval

Do you think a company with a 48 hour turn around on Tweet Approval really “gets” social.

Social media is spontaneous. It’s one of the reasons for the name “social”.

48 Hour Service Level Agreement on Tweet Approval

I’ve described Twitter as chatting in a gigantic and crowded virtual pub. In a social setting you have spontaneous conversations in real-time.

Imagine for a moment you were in a real pub enjoying a pint. Someone approaches you and asks you a factual question about your product or your company. Would you reply straight away assuming you knew the answer?

Or would you say you’ll get back to them in 48 hours once the marketing, compliance and legal teams approve your answer.

Most would reply straight away. Why should social media be any different?

Chatting to a colleague from another financial services provider recently we got talking about marketing and social media. He told me his company operated a 48 hour Service Level Agreement on tweet approval.

I had to ask him to repeat himself.

Again he said his company operated a 48 hour Service Level Agreement on Tweet approval.

First the marketing team would check out the language making sure it was “on brand”. Then someone from legal gives it the once over. Finally compliance ensures adherence to the FCA rules and signed off  the Tweet along with documentation.

Processes like this exist for marketing literature with good reason. But for a Tweet? Couldn’t they have at least introduced a fast track lane?

The SLA means they can plan Tweets for a specific time, say for a product launch. But the process cripples spontaneity.

Is this risk aversion or good business sense? I would argue they should replace the Marketing and Legal checks for good old-fashioned common sense. Then simply be aware of the implications of the FCA rules to make sure you don’t promote a product or give advice.

Tweeting the benefits of a specific product without being able to consider the downside or include risk warnings is against the rules. So don’t tweet these with less regard for compliance issues than you would with your website.

This doesn’t stop you from commenting on issues. Warning about deadlines. Or suggesting that it’s wise to insure your sources of income as part of financial planning.

Let’s not use “regulation” as an excuse not to engage in social media. Don’t use it as a cover for not being on social media. Use the FCA compliance guidelines as far as possible and then use your intuition and common sense.

Now it’s your turn:

You can find more information about Compliance and Twitter in my Twitter Guide for Financial Services Professionals. For a copy just use the subscription form above. Do you agree with my views on this subject? Please leave a comment or a link to your own article.


Boom! Demographics Are Destiny – Out Now 50% Discount

Want to watch a fascinating documentary about the financial needs of Baby Boomers?

One written, produced and directed by a Financial Adviser who’s an expert on the market?

Many of you will know Martin Bamford, managing director of Informed Choice, a firm of Chartered Financial Planners in Cranleigh, Surrey. He’s well known as an innovator within the financial services sector, as the first IFA to publish a podcast and one of the first to write a blog.

His latest project is a feature-length video documentary called “Boom- Demographics are Destiny”. It’s about Baby Boomers and their financial circumstances, what financial advice they need and what opportunities they represent to the financial adviser community.

Check out the Trailer below and if you like it use the discount codes to rent or buy at 50% off.

Boom! Demographics Are Destiny – Trailer from Martin Bamford on Vimeo.

If you want to rent or buy the documentary from Vimeo use the code ROGER1 to rent or ROGER2 to buy.

Here’s what I think of Boom!

It provides a fascinating insight into the financial needs and aspirations of baby boomers as they approach retirement. Written and filmed by financial adviser Martin Bamford the film weaves together interviews with well-known industry commentators and boomers themselves providing a compelling narrative and important insights. I feel that Martin’s understanding of the Boomer generation shines through in the script. I doubt the BBC could have outdone him.

Martin appeared recently on the Marketing Protection and Finance Podcast to talk about his inspiration for Boom! and the stories behind its production.

You can listen to the episode right here.

Martin Bamford on Baby Boomer Advice and Creating Standout Content

Now it’s Your Turn:

Remember you can get 50% off. Use ROGER1 to rent and ROGER2 to buy on Vimeo. If you enjoyed Boom! Demographics Are Destiny please share with your friends and colleagues.

Chris Hitchens on Platform People and Military Business Lessons – MPAF23

Platforms form the foundation of the financial advice process for many investors.

But like many propositions in financial services they can be complicated and need researching to decide on the best fit for each client.

My guest today started Platform People a company providing advisory, resource and due diligence services for advisers looking to compare platforms.

Listen as Chris tells a fascinating story about how he built Platform People and its employee focussed culture.  Listen how, as a former Military Helicopter Pilot,  he applied lessons from the military to his financial services business.

My guest on Episode 23 of the Marketing Protection and Finance Podcast is Chris Hitchens.

Chris Hitchens on Platform People and Military Business Lessons - MPAF23

Who is Chris Hitchens?

As CEO, Chris has built up Platform People which is an organically started and grown, debt-free multi-million pound business with 5 offices nationally.

It was the first company in the UK to be accredited with Investors in People Gold and ISO: 9001 on the first attempt and we also have ISO:27001.

Chris believes the best way to look after his clients is for him to look after his people.

Before starting Platform People Chris worked in Financial Services, Software, Consulting, Engineering, M&A and Retail.

Earlier he was a Military Helicopter Pilot with the Army Air Corps for 14 years. So he has strong personal values regarding integrity, honour and delivery, no matter what the task is and is always looking for people with similar values to work with.

He owns a Harley and a bright orange chopper motorcycle.

Chris’s Contact links:

Chris’s other interesting links:

Chris’s favourite books:

Looking for trouble – General Sir Peter De La Gilliere

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