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A social media policy is an internal guideline for companies to manage employees' interactions on platforms like Facebook, Instagram, and Twitter. As these platforms grow, they provide opportunities for brands to connect with potential customers but also present risks if employees make insensitive posts that can damage a company's reputation. This video tutorial outlines the importance of social media policies and their essential components. The creators, eFORMS, offer a vast database of various documents and will share a customizable social media policy link at the end of the video. It's crucial to differentiate between social media policies and social media standards.