[Whitepaper] Five Common Compliance Missteps of Financial Bloggers
Compliant digital content has become a hot topic in many financial blogger circles. We recently sat down with Phillip Taylor, CEO at FinCon, the peer conference for the financial media community, to discuss the industry’s key compliance pain points. Below are the five topics that bloggers need to manage to maintain compliance.
Ability to add URLs and Editorial Content
Financial Bloggers sometimes struggle managing their entire URL inventory because of tedious manual updates required on each link due to content or offer changes. To combat this process you may minimize the number of URL’s or those with editorial content—limiting the potential to drive additional revenue. This does not have to be the case. By using an automated compliance monitor, you can continue to develop and build on the number of URLs and content. Don’t be a slave to the process anymore. Spend time on what’s important: Increasing your presence and growing your revenue.
Credit Card or Offer Feeds
Keeping up with credit cards and their offers can be challenging. Some blogs have lender feeds incorporated directly into their site. While this makes being compliant easier, it can limit the material they want to present to their audience. Others will manually incorporate the information into their sites, which again requires continual discovery and maintenance as these offers can change on a monthly or even weekly schedule. Top industry bloggers have found compliance automation is the key to spending less time on discovery and more time adding blog content.
With the vast number of contracted publishers, affiliates and free publishers in the market, many bloggers struggle with maintaining an accurate inventory of their content and where it is located. Unlike larger companies or corporations that may hire compliance teams to review and maintain content, bloggers often are on their own to manage this task. Don’t be a slave to spreadsheets anymore. Identify strategies to automate your search for URL lists containing specific brands, content, or links.
Search Phrases and Link requirements
There are many variables on how content can be presented to stay compliant. Do you include links to drive traffic to other URLs? Creating an efficient system to display content regarding links and where they point creates additional challenges to the blogging industry. Compliance automation will not only pick up the link copy as shown on the URL, but can also display where it being directed. To assist with requirements for certain language before and/or after a link, seek technology that is smart enough to search and flag instances of potential deviations to the required content.
Bloggers must be mindful of exact wording and phrasing mentioned with offers. Include additionally required disclosures from other regulatory bodies such as the FTC, FCC, CFPB and State Attorney Generals. A good compliance monitoring partner will have rule sets to help you navigate policy and guidance to mitigate your risk.
Considering these five areas will help bloggers maintain compliance in this growing industry. Take control of your digital content to avoid compliance infractions and protect your brand. As you develop a process to manage this content, remember: consistency is key.