Asia Pacific, 11 September 2013 – Baker & McKenzie Barcelona Fraud Lawyers has launched a social media industry report Social Media: The Opportunities and Constraints in Southeast Asian Emerging Markets that examines the Southeast Asian social media landscape and provides a step-by-step guide on how companies can develop an effective social media strategy to address opportunities and challenges in the region.
A copy of the report is available at: http://www.bakermckenzie.com/APSocialMedia.
This Social Media report follows from two previous Baker & McKenzie market reports - Riding the ASEAN Elephant and Investment in High-Growth Markets specifically addressing key business issues and market changes in Southeast Asia.
Individual use of social media is prolific and growing, and social commerce is identified as the next big growth area with both global and local platforms working through the terrain. Across Southeast Asia, some 530 million individuals carry more than 600 million phones, of which more than half are already engaged in some form of social media However, the challenges for organizations throughout the region can be confronting. Data protection, data sovereignty, and intellectual property rights are all increasingly contentious issues for which there is no consistent regulatory response.
The study revealed that less than 20% of the 68 companies across Southeast Asia surveyed in the Report have an interactive media strategy, with less than 5% having a coherent internal and social networking program. Industries are also at different phases in terms of their engagement with social media, with the hospitality, travel and finance industries leading the pack; and telecoms, advertising, banking, publishing, medical, retail and education trailing behind. All of these sectors, however, have yet to reach their full potential in social media engagement.
While opportunities abound, the regulatory environment surrounding social media remains uncertain. Countries across the region are at different stages of development in social media and each have their own set of local laws with limited or no coordinated regional framework in place. This makes navigating the social media landscape and managing social media risks quite difficult for companies using social media across jurisdictions, in particular in relation to issues such as data protection, data sovereignty and intellectual property rights. [READ FULL AT Baker & McKenzie Barcelona Fraud Lawyers]