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A social media policy is an internal document guiding employees on social media interactions, becoming crucial as platforms like Facebook, Instagram, and Twitter dominate information sharing. While these platforms offer opportunities to engage potential customers and shape brand identity, they also pose risks; insensitive or poorly conceived posts can damage a company's reputation. The video will explore the significance of social media policies and what they should entail. The creators, eFORMS, a comprehensive document database, promise a template for a customizable social media policy by the end of the video. Additionally, the video will clarify the distinctions between social media policies and social media strategies.