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A social media policy is an internal guide for companies on employee interactions through platforms like Facebook, Instagram, and Twitter. With the rise of social media as a key marketing tool, businesses face opportunities to engage customers and build brand identity, but these platforms also pose risks, such as damaging posts that can harm a company's reputation. The video tutorial highlights the importance of having a well-structured social media policy, and introduces eFORMS, a comprehensive document database. Viewers are encouraged to watch until the end for a link to a customizable social media policy template. The tutorial will clarify the distinction between social media policies and social media practices.