Greetings, and welcome to the second issue of The LEADERS Dispatch!

In this month's issue, we're discussing the importance of the PCI DSS and how compliance can benefit your business. We also provide you with some strategies for managing your social media outlets, building on some of the things we discussed in last month's article "Better Marketing for Better Business."

PCI Compliance: Upholding the Codes of the Council

Do you ever wonder what it would be like to have a group of people working vigilantly to protect you from outside threats, kind of like the Knights of the Round Table? Believe it or not, there is such a group. Albeit, they're less concerned with fending off Saxons than they are on maintaining a standard of security in payment card processing in order to protect consumers and business owners from the threat of hackers, and they probably don't commune around a circular table, but you know, "tomayto, tomahto."

Who is this group?

The Payment Card Industry Security Standards Council (PCI SSC). Established in 2006 by the strong-arms of the credit card world--Visa International, MasterCard Worldwide, Discover Financial Services, JCB, and American Express--the Council formed in order to standardize security regulations to better prevent credit card fraud. The controls they developed to protect sensitive data from compromising exposure are known as the Payment Card Industry and Payment Application Data Security Standards (PCI DSS and PA DSS, respectively).

Benefits of PCI Compliance?

Compliance standards not only promote an overall more secure industry, meaning safer transactions (a boon to both you and your customers), but a study performed by the Ponemon Institute (an independent research group that focuses on measuring trust in privacy and security) indicates that compliant businesses save more money in the long-term than those who are non-compliant. Why? Because although compliance has its costs, including compliance certification and upgraded hard- and software in order to meet PCI standards, the costs of compliance are an investment in the long-term security of a business.

Non-compliance also carries security costs for businesses, but the solutions that these businesses pay for do not generally prove viable in the long term, meaning that non-compliant business owners end up paying more for security than do compliant business owners. Plus, there are additional fees for being non-compliant. Lastly, and most importantly, non-compliant hardware and software leaves businesses more open to attack, and once your customers' sensitive information has been compromised, restoring your reputation will be difficult leading your business to suffer major losses as a result.

How does one become compliant?

All credit card processors have compliance programs to help their merchants navigate the extensive range of factors PCI covers and to meet PCI requirements. Each of these programs begins with the mandatory Self Assessment Questionnaire (SAQ), which you can access here.

Follow the guidelines listed to complete the Self Assessment, and then move on to the next step: remediation. Remediation is the process of fixing any vulnerability you may have come across in your assessment of your business's software, hardware, and procedures dealing with customer data. The last step in meeting compliance is reporting to your acquiring bank and the payment brands you work with on the status of your business's security levels. If you need help with any of these processes along the way, contact your credit card processor.

Compliance may well be an investment of time and money, but a very worthwhile one. Don't overlook compliance because of its complexities; the more businesses that adhere to compliance, the safer payment processing will be for everyone. So help the Council uphold the code of payment card chivalry and comply with PCI.

Managing Your Media

Last month we discussed the new face of marketing, focusing on content rather than interruptive techniques to attract the attention of potential consumers and engage them. This month, we have some tips for you on effectively distributing that content.

Social media marketing can do wonders for your business. Take a look at the list below to see the benefits it offers:

Business Benefits of Social Media Marketing

• Enhances visibility of your business, both on- and off-line
• Allows you to connect with people in a big way; you can expand your consumer base and build brand recognition
• Simple to use
• Cost-effective (in most cases, FREE!)

As great as that all sounds, it can be overwhelming trying to effectively market your business through these outlets, especially if you are a newcomer to the social media scene, but it doesn't have to be.

Our guidelines below offer advice on effectively marketing with social media to get a better grasp on the process.

Effectively Marketing Your Business Using Social Media

• Create a social media center. Designate your site or blog as the nucleus for all social networking, and direct all other profiles there. It provides a convening place, if you will, for all outlets and also gives you another chance to engage by offering more content.
• Take advantage of social media sites that focus on local businesses. Places like Yelp, Merchant Circle, and Google Local (a.k.a. Google Places) are all excellent resources for getting the word out about your business to local consumers.
• Create different content for each of your separate networks. Each network (Facebook, Twitter, LinkedIn, Tumblr, etc.) boasts a unique culture, so you should customize content accordingly. That doesn't mean you have to come up with entirely different material for each site, just modify format for the specific site toward which content is geared. However, different output on different networks also increases traffic, because people that are excited by content on one site will often then be interested in the material you put out on other networks.
• Don't blast your networks with sales pitches and constant updates about your business. As we discussed last month, people don't like being marketed to; hard-sell tactics will only drive people away. Instead, talk about industry changes or hot topics, helpful tips on relevant issues in your industry, as well as other things that interest you:  trending topics, a funny video you happened upon at some point in your day, or a great article you read. That's not to say you can't ever talk about your business, but keep it to a minimum; it shouldn't be the core of your content.
• Be human. This is crucial. It's much easier (and much more appealing) trying to connect with a real person than with a faceless business entity. Take advantage of your humanity and do like Madonna: express yourself!
• Be creative and have fun. Social networking is not about selling, it's about engaging; it's about building trust and piquing interest. The more engaged people are with you and your company, the more likely they'll buy from you. People want to be entertained, so the more creative, interesting, and/or engaging your output, the easier it will be to gain and maintain followers.

And remember, it's not rocket science. Follow our tips and, with a little diligence and some patience, you will start seeing results. Then, before you know it, you'll be the one offering us advice.

Testimonials

"Thank you so much for taking such good care of me. Even though other people were trying to give me a loan at the same time..you calling me during every step of the process really made a difference. I know you do this for a living, but please know your compassion really goes a long way. You not only help my business, you help my whole family!! Because of you my 5 and 8 year old girls can spend time with their mom and she won't be stressed out with migraines worrying about money:) GOD bless you for a job well done!!" - F. Nasser,  Atlanta, GA

"Thank you so much for your professional and patient help last week in setting up so we can accept Visa/MasterCard. It is rare that a disembodied voice at the end of a telephone can actually assist customers without causing said customers migraines! Your fine work is deeply appreciated. God bless you in every way." - Michael, Rockford, IL