Compliance mistakes can be costly.
How confident are you that all of your marketing content is legally compliant?
Automatically ensure that all markets comply with legal and local requirements
It’s not just about the look and feel of your global campaign content, but often it is essential to make sure that it complies with some kind of regulations.
In many markets and industries, compliance is mandatory with huge financial penalties for transgressions. It is critical that organizations ensure that their teams stay compliant and within the regulations and law. This can range from ensuring that financial claims are correct, such as in a loan or investment offer, to ensuring that the correct and most current legal text is present on some localized alcohol marketing.
If your local markets are adapating your global campaign content for their customers or markets, then you need to be certain that the content that is being used is compliant with the laws and regulations that apply.
The consequences of content being used that does not comply with regulations can be significant (to learn about guaranteeing brand compliance, click here). It is essential to ensure that everyone is aware of the requirements before they adapt any content for use, but making sure that this information is up to date and used effectively can be very difficult.
Training local marketers is an option, but ensuring that they stay up to date if anything changes can be difficult.
There are tools that can help keep legal text and requirements up to date, such as a PIM (read about how content management platforms can help here), but even then marketers need to be certain that they are using the right version out of the options available.
The consequences of content being used that does not comply with regulations can be significant.
The cost of non-compliance can include fines, settlements, business disruption, productivity loss, or revenue loss. These costs are increasing year on year.
The average cost for organizations that experience non-compliance problems is $14.82 million, a 45% increase from 2011. This partly comes from some high-profile fines, but smaller fines also add up, and the real cost of non-compliance isn’t just punitive fines.
According to a study, the biggest cost of non-compliance is business disruption. When found to be non-compliant, businesses can be forced to implement compliance changes before being able to resume business.
This is where a templated content platform can help. A platform that turns campaign material into self-service templates that can easily be adapted for local markets, will both allow local markets to adapt content as they need to, but also to enforce brand and legal compliance by using clever, baked-in rules that enforce compliance. Whether it is automatically applying the right legal text for the user’s country or only giving a choice of pre-approved supporting claims, the content automatically has the right pieces to ensure it meets regulations.
With Brandgility, it is impossible for team members to make costly and damaging mistakes.
Brandgility gives you the power to give local markets the ability to adapt content by turning your campaigns into self-service templates that have baked-in compliance and legal rules.
Having built-in rules for content that know where it will be used and what the requirements are, while still enabling adaptation, can make all the difference. So can a workflow that allows for clever authorization chains that can check compliance before content goes to market.
We’d love to tell you more. Contact us for a chat.