In an ever widening search to bring value to our clients, I'm introducing a new series to this page, where we will have occasional conversations with significant players in the marketing and communication fields. The goal is that we will both learn a little something, and get to know some people in several aligned industries as well.
This month, we speak with Rohit Valia, CEO / Founder of Cafyne, Inc. a US-based startup which helps enterprises protect their brand by ensuring compliance to regulatory and company policies.
Cafyne is one of the new breed of start-ups launched by an incubator and was selected as one of the "Cool Vendors of 2014" by Gartner, noting "The future success of risk management will require the creative use of current technology, as well as innovations that support the digital business and capitalize on technological advances within the Nexus of Forces — cloud, social, big data and mobile" .
We talked with Rohit late last year.
Namarketer: Your website says Cafyne, Inc. is founded on the principles of helping organizations safely leverage social media to enhance their brand by amplifying their social media presence while managing risk arising from potential violations of regulatory and company social media policies. Simply, how does it do that?
Cafyne was listed by Gartner as a Cool Vendor 2014 for its Enterprise Social Media solution and enables the creation of a stress-free social media marketing environment for corporate enterprises. Cafyne allows employees to amplify their brand and increase marketing organically. Why should anyone stress over social media as social media should be fun, informative, and a strong asset for brands. Companies can put themselves in jeopardy when they have a ”slip" that can ruin their reputation and trust. Using our Stimulator, Observor, Enforcer, Discoverer, and Archivor tools, companies can leverage employees while abiding by company policy.
Namarketer: Where did the idea for Cafyne come from?
The exciting energy from caffeine continues to bring people together under one roof, making it easy to hang out, mingled and join hands to generate new and creative ideas. Sip a nice cup of coffee, relax, and fuel up for the next day, week, or even the year. Similar to caffeine, the Cafyne Social Stimulator is personalized fuel for organizations to leverage their employees as a way to grow and develop organic and authentic conversation with their teams, partners and customers using multiple social media channels.
Namarketer: Gartner was named Cafyne a 2014 Cool Vendor in Risk Management. Tell us a little about how you can help a business manage their risk, and why that has become so important today.
Risk management is a growing concern for businesses, especially Health, Finance, and Retail. FFIEC, SEC, FDA, NLRA, FCRA, COPPA, FTC Disclosure Guidelines, Digital Millennium Copyright Act, Computer Fraud & Abuse Act, Electronic Communications Privacy Act and the Communications Decency Act are just a few examples of major policies regulations. One mistake on social media is all it takes to destroy a brand’s reputation. It is hard to manage multiple social media platforms and hundreds of employees at the same time. It’s scary to think that you never really know what is going on when it comes to employee engagement and brand marketing on social networks. Cafyne works with companies to prevent this from happening and make it easy to amplify employee marketing. We offer personalized tools and resources for companies that want to cut risk, increase engagement, and make the most of social media networks. Employees get their own profile on Cafyne.com and optionally, link their social media accounts. A designated “approver” or automated policy engine, can be used to manage business related content produced by employees. Each business can personalize their approval system, choosing Rules that flag inappropriate content, making sure it never hits a social media newsfeed. Predictive analytics shows the expected ‘Virality' of a post. Users are provided with intelligent analytics to see how their content performed, who it reached, and so much more. In addition, all Business accounts content is archived to meet the Regulatory guidelines.
Namarketer: Recently, the U.S. Securities and Exchange Commission levied a $100,000 fine against adviser Mark Grimaldi and his firm last week for misleading investors in two tweets about his investing strategy's performance. How might have Cafyne prevented this from happening?
In a recent article Reuters states,"While the promotional appeal of social media is understandable, the risks of clicking that "post" button can be high.” This is a great example of why companies are at risk with their social media profiles. Cafyne stops social media accidents by using a tool called the Stimulator. This tool allows employees to submit social media content for approval before going live. This system regulates and amplifies employee engagement, taking the stress away from worrying about policies and rules. In this incident, Mark could have assigned a review of the post to ensure it met the guidelines with a link to more details of their disclosures.
Q; Firms use social media for purposes such as marketing, communications and client outreach, but they have to be careful not to breach rules concerning advising and making recommendations for clients. How can this be integrated into the Cafyneworkflow?
We personalize our approval tool to fit a company’s needs. A company’s workflow will improve greatly, increasing productivity and organize marketing. In addition, with the analytics embedded in the product, Cafyne allows marketers to get a prediction on the Impact for a given post as soon as it hits the Network.
Namarketer: What is next on the drawing board for Cafyne? Improvements, Extensions,? New product
Cafyne is always looking to innovate and bring new capabilities that leverage our expertise in Real Time Big Data technologies and Data Science capabilities. Stay tuned for new and improved Social Analytics, Mobile capabilities, support for additional social networks and broader language support. Be sure to follow @Cafyne on twitter and Cafyne.com on Facebook!