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A social media policy is an internal document that guides employee interactions on platforms like Facebook, Instagram, and Twitter. As these platforms grow in influence for sharing information and shaping brand identity, companies face risks from employee posts that could damage their reputation. The tutorial discusses the importance of having a social media policy and outlines its key components. Viewers are encouraged to watch until the end for a link to a customizable social media policy. Additionally, the tutorial will clarify the distinction between social media policies and social media strategies.