Most businesses now consider social media a valuable asset, with almost 41% of Americans recognizing how essential a well-established social media presence is to their organizational goals. With approximately 3.3 billion people utilizing various platforms regularly, one cannot deny the extent of reach and power the medium holds in terms of engagement. Even so, the social media space can get quite tricky to navigate, which is why it's necessary to observe certain measures to ensure safety and regulation.
What is social media archiving?
Social media archiving is similar to web archiving in that it allows organizations and businesses to keep and collect the content they post throughout social media platforms. This is helpful for reference and future use and is also a necessary measure to ensure that businesses can keep up with compliance requirements, maintain solid data governance, and resolve litigation issues. Businesses that have a well-maintained social media archive have the opportunity to facilitate comparative analyses and even conduct long-term data reviews for when they are needed. These are especially relevant given the increase in litigation cases that often demand digital evidence. By doing this, businesses can adopt specific ways to effectively handle matters about data protection, security, and more.
More importantly, there are many reasons why many companies are now taking proper steps to archive their social media records. More than protecting the organization's reputation, it also plays a significant role in ensuring data protection while keeping away from scams and malicious advertising claims. Here are the two main reasons why businesses need to have an efficient social media archiving:
Required in keeping up with standards
Firstly, archiving social media records is essential simply because it's a requirement when public and profitable figures use social media. Meeting industry regulations is something that businesses should always adhere to, and the gravity of these requirements often depends on how heavily regulated your current industry is. There are also a considerable amount of compliant issues to look out for when dealing with social media.
For instance, if the business is specifically situated within the financial sector, it must adhere to the Securities and Exchange Commission rules when utilizing social media platforms. Not only that, but there are also several lawsuits happening every year with institutions in the financial sector, making social media archiving all the more crucial since it helps businesses to be prepared in case of litigation.
Improves overall management
The concept of social media archives also helps businesses embody a sense of order while facilitating better access to the data to improve and review business operations. With this, you can consequently manage data, minimize legal risks, and locate the precise information needed. Social media archive maintenance also allows businesses to conveniently prevent unwanted data loss through automated monitoring. This helps businesses to immediately identify certain risks or misconducts that do not align with their policies.
Contrary to misconceptions, you don't necessarily have to be a profit-based business just to benefit from social media archiving. To give a concrete example, you can refer to government institutions like The National Archives and Records Administration and even the White House itself. ArchiveSocial has revealed that the said organizations have faced difficulties in connecting with the audience in social media, as well as keeping track of their activities in various platforms. This is until they were introduced to social media archiving.
Whether it is a growing business or a well-established one, archiving social media records is crucial, especially when the goal is to establish a strong social media presence. Data protection, litigation preparedness, effective monitoring, and more can give businesses a reliable defense, particularly when dealing with the constantly changing demands of the business environment.