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4 Ideas to Set Up Your Marketing Compliance Review Process for Success

Monday, November 9, 2020

When will team members see marketing compliance as more than just a chore or a headache?

The answer is – when you show them that marketing compliance is more than a chore or a headache.

As a compliance leader, you set the tone for interactions with colleagues and between teams.

Creating a worthwhile marketing compliance program, then, is in your power. We’ve put together some guidance on how you can make the marketing compliance review process you want a reality.

1. Define clear ownership.

Sitting down with marketing leaders to develop a process should be the first stop on your path to building a better review process. If you’re a passive part of the process, waiting for another team to dictate tasks to you, you won’t be able to innovate or truly provide guidance in the process.

When having a conversation with the marketing team, discuss:

  • Who should be involved in the review process
  • What timelines and expectations look like for each group
  • Which tools you’ll use to manage the process
  • Which team members will be involved
  • Which external departments will be involved
  • How to handle disputes that may arise in the future

Creating a RACI chart together can also help to develop big picture awareness of processes. The RACI chart defines who is responsible, aware, contributing, and informed in the process, so ownership is clear from the beginning.

Making sure each team member knows their responsibilities, opportunities, and boundaries can make it easier for them to handle their areas and to feel engaged in the process.

2. Incorporate technology.

Technology is now an expectation in the review process, not just a nice-to-have. Adding advertising compliance technology to the review process can make things less time consuming and can create a clear revision history and audit trail.

It can also be an important part of setting your review process up for success. When you have technology in place and when you build deterministic rules for compliance, there is less room for argument or opinion.

Because the rules have been defined and agreed on by both sides of the equation, when a disclosure is recommended, the technology is the one making the recommendation and guiding decision making. There’s less opportunity for posturing, pride, or disagreement on either side.

And, if the advertising compliance technology is integrated into the content building tool, much of the review can happen while the advertisements are still in the marketing team’s hands, meaning less back and forth and fewer opportunities for errors to slip through the cracks.

3. Educate.

When people understand WHY a decision is being made, they’re more likely to agree with or go along with it. When they’re giving a dictate without clear reasoning, they’re more likely to disagree or to become frustrated.

Take time to share valuable content and information that will help your team members, and your marketing counterparts, understand the reasoning behind compliance decisions.

If a new regulation is put in place, share articles or webinars about it, but also give them information about how it specifically affects your processes and disclosures, so they’ll be prepared when they begin to see changes coming down the pipeline.

4. Let go of the ego.

Everyone wants the same thing – to keep your jobs and to see your organization succeed.

When you’ve put time and effort into a project, it can be easy to get annoyed when you’re questioned over a decision. It’s easy to think someone’s prodding at your credentials and expertise when they may actually be asking a question out of curiosity or ignorance.

When we let go of ego in the compliance process, we open ourselves up to new opportunities.

We show we’re capable of being part of a discussion and offering high-level insight.

We show we’re more than a walking, talking compliance rule book, and that we have a wealth of experience, knowledge, and strategic acumen we can bring to discussions outside the marketing review process bubble.

And, completely outside of the review process, it can be valuable to build connections with the colleagues who are creating your marketing reviews. When people know and trust one another, it’s easier to believe each side has the other’s best interests in mind.

About Red Oak Compliance Solutions

Red Oak Compliance Solutions is the global advertising review software of choice in the financial services industry, serving clients with more than $19 trillion in assets under management. Red Oak’s advertising compliance review software offers quick implementation timelines, as well as agile technology that responds to client needs and is 100% Books and Records compliant. Our clients report 35% faster approvals and 70% fewer touches, with many experiencing even better results. Are you ready to minimize risk, reduce costs, and improve efficiency?  Contact the Red Oak team to learn how.

About Red Oak Compliance Solutions

Red Oak Compliance Solutions is a leading provider of intelligent compliance software, offering a range of AI-powered solutions designed to help firms of all sizes successfully navigate the increasingly complex regulatory landscape. Our suite of 17(a)-4/WORM compliant features offer risk minimization, cost reduction, and process optimization capabilities with features that are designed to evolve with our client’s needs. Our flagship advertising review software enables firms to deliver compliant content to the market with confidence, faster. Our Disclosure Management and Intelligence solution simplifies the management of disclosures, while our Registration Management solution automates and streamlines the licensing and registration process, further enhancing your internal processes. 

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