The new frontier of Social Media:

Session Chair: Rebecca Monforte, Cbus

Show of hands…..

Session 6 Overview…or - what stands between you and networking drinks

• Sharon Nelson, Spark Green

• Joel Clapham, Media Super

• Nicholas Pullen, HWL Ebsworth Lawyers

• Panel Q&A

SOCIAL MEDIA & SUPERANNUATION…. Perceived risks of social media at super funds Mitigation and management strategies Examples & takeaways

What are the perceived risks?• Negative feedback in public domain• “It can’t be controlled”• Trolls and ‘haters’ just ranting and raving• Non-approved posts by fund staff.

Now let’s debunk some of these…

What’s old is new again!• Negative feedback in public domain= so are conversations between friends and colleagues• “It can’t be controlled”= Can we control the lunchroom, water cooler or BBQ discussions? • Trolls and ‘haters’ just ranting and raving= Letters, emails, phone calls (and remember the spidery writing on faxes?!)• Non-approved posts by fund staff= Do we monitor EVERY phone call & conversation in the field? Training, trust &spot audits are essential with social media too.

Social media is an opportunity to have a conversation with people. They’re going to be talking anyway – what a gift we get to listen in and participate!

Mitigation and management• Develop a policy Produced by staff who will be managing, peer reviewed by colleagues, reviewed/approved by legal + compliance + HR, then Board.• Set up monitoring tools (Meltwater, Radian6, standard searches & Google Alerts)• Recognise the two functions of social media: listening and talking. Appoint staff to perform & manage both functions (can be same person/team).• Talking: - staff prepare a content plan ahead of time, reviewed/approved before publishing - may establish rules such as pre-approved content is ok to broadcast without review - personality is critical to social credibility… don’t stifle this, or you’ll be ignored. • Listening: treat it as customer service and use same protocols and processes.

Example: Content planDate Channel Content Legal comments /

approval

1/11/14 TwitterFacebook

Contribution caps have changed for age 50+ See how here: mdspr.ms/contcaps50

Link not live, please correct

2/11/14 TwitterFacebook

Our annual report has been published and can be viewed online or print copy sent to you: mdspr.ms/2014AR

Approved

3/11/14 Facebook Your super fund has investment policies about some assets. Watch this video about our no tobacco policy:mdspr.ms/upinsmoke

Ensure publication date is on video page

4/11/14 Twitter Two years of double-digit returns is good news for members. See how we performed overall: mdspr.ms/FY14

Approved.

Example: Negative becomes positive

Key points1. Social media is an opportunity to listen and participate

to conversations that are already happening2. Develop a policy, establish processes like any other correspondence &

appoint key staff to manage function3. Personality is critical – foster it 4. Twitter has 140 character limit:

what better way to ensure communication is clear, concise and effective!

Social Media:Seen through the eyes of a media lawyer

Nicholas Pullen, HWL Ebsworth Lawyers

Companies are publishers, and exposed to:

• Defamation• ACL (misleading & deceptive conduct)• Privacy & Confidentiality• Injurious Falsehood• Industry Codes• If ASX listed – maintenance of disclosure requirements

under Guidance Note 8

Recent Cases

• Madden v Seafolly Pty Ltd [2014] FCA FC 30

• Nextra Australia Pty Ltd v Fletcher [2014] FCA 399

Management Strategies

• Outsource or in-house?

• All levels of senior management (including the Board)

need to be tutored on the basics of social media

• Clear structure and plan in place that can deal with

social media mishaps/crisis

PANEL Q&A