Why Your Lawyer Should Be Your First Stop Before Starting A Social Media Campaign

Nearly every company needs to invest in social media in order to be a viable business within their industry today. If you have a small business or a new business, you will need to especially invest in your social media approach in order to attract new contracts and clients. Social media campaigns that involve other people and other companies are an excellent way to increase your visibility. Before you start a social media campaign, you will need to run over the details with your lawyer. Here are three reasons why you need to stop at your lawyer's office before starting your new social media advertising. 

Determine the legality of your advertising

One of the quickest ways to attract attention during a social media campaign is to hold a contest. Some companies will offer an entry for every purchase that you make, while others will require customers to provide information in order to win. Before finalizing a campaign that involves entries, ask your corporate lawyer if the contest is legally viable. For instance, requiring customers to make a purchase in order to get an entry may be considered gambling in some states, which is illegal in some areas. Therefore, you may need to change the entry methods for your giveaway contest. Your lawyer will be able to provide you with dos and don'ts of running a contest in your area. 

Learn the new rules for social media posts

A way to find a quality, interested audience is to link up with a social media personality who is interested in your field. For example, if you own a clothing business, you can link up with fashion bloggers and pay them to advertise on your blog. There are laws that govern social media sponsored and paid postings that every business and social media user must follow. The Federal Trade Commission, or FTC, states that all sponsored posts should be clearly defined on some advertising mediums. You want to make sure you and your chosen advertisers follow the rules to avoid any scandal and any possible fines. Talk over the necessary disclaimers and rules with your corporate attorney. 

Figure out tax implications

Giving away items can have an impact on your taxes. Paying out a certain money in gifts means that you may owe gift taxes. Performing social media built drives for those who are in need may mean that you can get a write off on taxes. As a small or fledgling business especially, you will need to keep a watchful eye on your business finances. Knowing just what you can afford to give away and the overall cost in taxes will help you to make wise decisions during your social media campaign.