The Silver Lining to the Coming FTC Changes

By now (mid-November) you may have read some of the bubbling commentary about the sweeping new FTC guidelines on endorsements and testimonials which take effect December 1st, 2009.

Much of what I've read is legal counsel, that this will affect all online and offline marketing, since:

1. Fines for violation run up to $11,000 per incident.
2. This is the first update of those regulations since 1980, when "disco" was in vogue -- a year before IBM launched the first PC (with DOS and no hard drive).
3. US law tends to overshadow other western countries.

Paul's summary of these changes could be the most abbreviated you'll ever read :)

• Testimonials may no longer be AMAZING with a your-results-may-vary disclaimer. They must reflect typical results.
• Endorsements from bloggers, sites belonging to network marketers, and links embedded by affiliate marketers (where money is made by the reader clicking) must be labelled as such.

The good news for all consumers is that the new rules raise the bar on transparency, which is a good thing for all of us as consumers. Labelling standards will evolve with case law, making our job as businesses and marketers.

One resource I have found helpful in that regard is Denise Goswell, a lawyer who was recommended strongly to me by a colleague. She has a short video and great assemblage of legalese (note to self, trademark that term!) I feel is quite helpful to anyone offering products or services today!

Watch it by clicking here. [This is an affiliate link, meaning that, like real estate brokers, I'll receive a few bucks "referral" if you buy anything from Denise -- voila, instant transparency!]

So... where's that promised silver lining??

How would a business learn what "typical results" are? Naturally, one must ask customers -- what a great reason to establish deeper channels of communication with clients than ever before!

I hope this opens your eyes to seizing the opportunity, rather than feeling constrained by regulations :)