Archive of tag "Wells Fargo"
Joel Nathanson, who serves as the Vice President, Social Media Programs at Wells Fargo, will lead a public conference call, “Social media engagement during a financial crisis.”
In the worst financial crisis since the depression, fundamentals still matter. Learn how Wells Fargo:
Conference call | August 26, 2 PM (EST) | Free | Register
As we gear up for BlogWell: How Big Brands Use Social Media in Minneapolis — hosted by General Mills — on August 13 featuring case studies from Walmart, McDonald’s, H&R Block, Mayo Clinic, General Mills, Ford, CME Group, and Progressive, we’re sharing case studies from our latest BlogWell event in San Francisco.
At BlogWell, you’ll learn how to get started, get past roadblocks, and make your social media program phenomenal — in one afternoon, for just $250. You’ll get practical, how-to advice on creating great content, getting management buy-in, educating employees, keeping lawyers and regulators happy, simple and ethical disclosure, and engaging fans. You’ll ask questions, discover new ideas, and get answers from people who have been there, done that — all in four hours.
Register and learn more about BlogWell here.
Special thanks to our lead sponsor, Globalpark, for help making BlogWell possible.
In his BlogWell San Francisco case study presentation, “Social Media Engagement During a Financial Crisis,” Wells Fargo’s VP of Social Media Programs, Joel Nathanson, describes how during the worst financial crisis since the Great Depression, Wells Fargo launched its engagement program and used social media to help customers navigate the minefields.
Joel’s presentation focuses on whether in crisis or during everyday business, fundamentals are critical: 1. Social media should be used in coordination with other channels; 2. If you’re not there, someone else will be; 3. Take advantage of the high value, low cost benefits; 4. Start building now — you don’t want to be building the infrastructure when you’re in a crisis.
BlogWell: How Big Brands Use Social Media in San Francisco on June 23 was a fantastic success. A big thanks to all the folks that helped share the event via Twitter. If you missed it, here’s a few of the great tweets we saw:
Tweets from Lionel Menchaca of Dell’s presentation: “Blending Community and E-Commerce”
Kirasw: make content flexible and modular to make it easy to share/embed/syndicate says @lionelatdell #BlogWell
bobduffy: Dell: We need web standards for SSO & profiles for branded communities as well as connecting with 3rd party social networks #blogwell
kelbyj: Dell’s Lionel Menchaca singing the praises of @jowyang and his contribution to the social graph #blogwell
finnern: http://twitpic.com/88esd – Man behind dell social media success: lionel menchaca #blogwell
mawkus: “Most customers don’t know difference between a blog, forum and wiki. They shouldn’t need to” #Dell #Blogwell
Tweets from Josh Karpf of Pepsi’s presentation: “Connecting On and Offline Using Social Media”
seangib: Pepsi posts online video to nine different channels for syndication #blogwell
joemescher: Guerilla Growth: #blogwell Pepsi uses the embassy strategy – create groups everywhere. via @serena
ccarfi: “blogher is huge for us” says @jkarpf #blogwell
rachelpolish: Josh Karpf from PepsiCo – need to shift idea from impressions to connections and go where they are. YES! #BlogWell
serena: #blogwell pepsi is up. How do you move from impressions to connections? No one off projects, created an editorial calendar
Tweets from Kira Wampler of Intuit’s presentation: “Customers First: TurboTax in Social Media”
serena: By engaging in socmed, turbo tax unleashed their fans who wanted to be brand evangelists! Corp handles haters, fans do the rest #blogwell
markevans99: Intuit: Started their blogger program with 5 folks very cautiously, now they have hundreds… #blogwell
chiprodgers: Good question from @artmarco. Is Intuit using SM to help teach small biz how to start ans succeed with SM. Answer: Yes! #blogwell
mheiligman: ‘Social Media: Learn a new culture – what is the language, what are the mores, be a good corporate citizen.’ – Kira Wampler #blogwell
hkremer: Intuit: Started their blogger program with 5 folks very cautiously, now they have hundreds… #blogwell (via… http://ff.im/-4qszA
Tweets from Hilary Weber of Kaiser Permanente’s presentation: “Harvesting the Low-Hanging Fruit of Internal Social Media Channels”
aewheeler: Mulling over the notion that a social networking site will someday replace email for internal company communication… #blogwell
tmarklein: Kaiser created “IdeaBook” network internally, uses it like a “town square” — wikis used as a “tool shed” for teams #blogwell
NewMediAroused: #BlogWell Kaiser Permanente on anonymity among employees in internal social media: No Way. I agree: http://tinyurl.com/n68f5d
kristiewells: Kaiser uses wikis + Jive Software to help internal teams collaborate. Reminds employees: while ’social’, it is ‘business social’. #blogwell
overtone: #kaiser has done a great job using social media tools (wiki) to develop an internal network. #blogwell #gaspedal #blogcouncil
Tweets from David Witt of General Mills’ presentation: “Yoplait Kids Connects with Moms Online”
deanna24: RT @bobpearson1845: #blogwell “it’s all about the consumer” David Witt, General Mills. I could not agree more.
williamu: Great line by David Witt of Gen. Mills: You can judge how great your idea is by how many lawyers are at the mtg to discuss it. #blogwell
ederdn: David Witt–GenMills–online coupon redemption 2-3x FSI. 100MM impressions (no multiplier) from Yoplait Kids initiative. #blogwell
theMetz: This team really knows how to show ROI (Yoplait) #blogwell Impressive.
texasleaguer: “67% of moms rely on user blogs to make purchasing decisions” #blogwell
Tweets from Andy Sernovitz of GasPedal’s presentation: Honesty is the Best Policy: Best Practices for Disclosure in Social Media
bricksofwine: Three big questions behind disclosure: Who are you? Were you paid? Is it your real opinion? #blogwell (via @mattsingley)
deanna24: Besides ethical, it’s easier to be honest and transparent #blogwell
goonth: Biggest risk: failure to train. Agencies and contractors must be clear on ethics guidelines with corporate internal groups. #blogwell
mattsingley: Very few companies set out to do something sleazy in social media, failure to train staff usually ends in trouble #blogwell
clarknwark: RT @brianbernard: I work for ____ and this is my personal opinion. #blogwell It’s all about proper disclosure.
frogdesign: “The difference between honesty and sleazery is disclosure” Sound advice when building trust in social media #blogwell
Tweets from Joel Nathanson of Wells Fargo’s presentation: “Social Media Engagement During a Financial Crisis”
markevans99: Wells Fargo: consumer comm in fin services is “not without risk” lots of disclosures necessary #blogwell
finnern: @joeliospeaks WF: Err on the business side of business casual when engaging in social media. – Especially when you are a bank 
#blogwell
clarknwark: Joel Nathanson WellsFargo talks about sm engagement during financial crisis #blogwell if ur not participating info vacuums develop.
stuntdubl: ask your Wells Fargo questions – @ask_wellsfargo #blogwell @gaspedal
NewMediAroused: #BlogWell Wells Fargo on employee blogging: create list of trigger words that must be accompanied by Legal disclosure if used
Tweets from Mark Yolton of SAP’s presentation: “Vibrant Communities Fuel SAP’s Customer-Focused Ecosystem”
amandamarvel: SAP- six years of testing out social media and growing. Less time than Google has been around. Have to remember how new this is! #blogwell
kelbyj: Good advice from SAP’s Mark Yolton – look at SM as an art vs. just a tool/plumbing #blogwell
WalkerinSF: @markyolton from SAP discuss 1-9-90 rule. SAP community = 1.6M strong. 1% highly active, 9% somewhat. Most just want to consume #blogwell
matt_yorke: #blogwell… Points & privileges reward sap community users.. Not cash.. Reputation counts
mmarfise: SAP speaking at #blogwell about communities , stats : 1.7M individuals ,200 countries, 20K new members /mth , 600K unique visitors/mth
Tweets from Jeanette Gibson of Cisco’s presentation: “How Cisco Engages Customers, Partners, and Press with Social Media”
cziems: RT @chiprodgers: http://twitpic.com/87xyi – Key Takeaways from Cisco Jeanette Gibson #blogwell
DeannaLawrence: @LionelatDell Jeanette Gibson from Cisco says part of what she does is “Chief Distruptor.” #blogwell – My new Hero!
LionelatDell: Cisco uses Google Analytics across all their external blogs. Allows blog owners to compare their metrics to other Cisco blogs. #blogwell
overtone: #cisco “it is not the cost of the blog… it is the resource of it” #blogwell
bobduffy: Cisco says employees own their own brand and followers on Twitter… I so agree #blogwell
2:10 – Bob Pearson introduces Joel Nathanson — VP, Social Media Programs, Wells Fargo
2:11 – Joel: The past 12 months has been deemed one of the worst financial crisis since the Great Depression. It wouldn’t have been a surprise to us to have gone into an engagement lockdown, but we didn’t. We actually launched engagement programs.
2:13 – Joel: We’re an old brand, I say: Embracing change since 1852.
2:14 – Joel: March 2006: We launched our first blog — first US bank to do that.
2:15 – Joel: Whether during crisis or during everyday business, these are the key components:
1. It’s complimentary to the other channels you already have and should be used together.
2. Counter vacuum risk: If you’re not there, someone else will be and may be answering the question you should have been.
3. High value, low cost. Reach more people through SEO, RSS, and WOM.
4. But, be ready. Slowly build your infrastructure. You don’t want to be building this program when you’re in a crisis, build it now.
2:17 – Joel: Consumer communication in financial services is not without regulation and oversight. There’s a lot of policies that come into play. When you’re building a program at scale, as we are, there are a lot of things you have to take into account.
2:18 – Joel: We have to be careful of certain words: Promise, expert advice, guarantee, investments, etc.
2:19 – Joel: Our engagement evolution:
1. Listen – Know what was being said, what consumers needs were, and get a handle on the conversation.
2. Publish
3. Expanding out to the social networks, as appropriate.
4. Engagement
2:20 – Joel: Benefit of listening, you’ll know: “What is normal?” You’ll have a baseline to measure spikes against.
2:21 – Joel: First blog was safe, and continues to be: Focused on history, archives, and it remains to be a very popular blog.
2:22 – Joel: Now have product blog, B2B blog, SecondLife community.
2:22 – Joel: Recently opened up on Twitter to use as a service channel.
2:23 – Joel: Social media as a service channel represents unique challenges:
1. Third-party platforms are not always reliable. (Joel talks about the “fail whale” example on Twitter and the need for backup channels to make sure people can get the service they need.)
2. Unofficial customer service reps: Folks that maybe work for you, maybe don’t, but their answers may not be accurate.
3. Credibility and transparency. For us in the financial services industry, this is critical.
4. Abuse. Who can be the loudest can get what they want, so you need some plans to address this.
5. Online security. Again, especially critical in the financial services industry. We can not talk about accounts in a public forum, so we take these conversations offline.
6. Enterprise ready? Can you manage multiple accounts? How are you going to pass data across your organization so you can track it. Who’s holding onto this information?
2:26 – Joel: Fundamentals of a successful social media program:
1. Clear goals
2. Willing
3. Adaptable
4. Thoughtful and focused
2:26 – Joel: You’ve got the data, now what?
1. Organize and analyze
2. Identify and target opportunities
3. Get to know your relevant channels
2:27 – Joel: Err on the business side of business casual. Remember that you’re a business, and you should probably always take the high road in your engagements.
2:28 – Joel: You’re determining the voice when you’re engaged. Understand the voice of those that represent you. You need to have a sustainable content plan: Are you going to staff this thing 24/7? How do you handle questions when they come up?
2:29 – Joel: Just because you can’t, doesn’t mean you should. You shouldn’t join every single conversation if there’s not a reason for you to be there.
2:30 – Joel: Behind every post, is a real person. And when you’re responding to anything, you’re responding to many.
Q&A
Q: When you started launching your first blog, and as you added to them, was that from within your already existing copywriters? How did you control the content?
A: Our first blog was a serial blog focused on history. We had a lot of photos, stories, etc. on history. Social media at Wells Fargo is in a group called experiential marketing.
Q: I work in a highly regulated industry as well. When you’re faced with questions that deal with topics that you have to avoid, how do you do that?
A: I think you can engage those folks and acknowledge their question, you can say: I’d love to help you, but that’s not my area of expertise. Let me direct you to someone that can help.
Q: How is your virtual world doing?
A: It’s very successful. It focuses on youth and financial literacy.
Q: Can you elaborate more on, as we all know, crisis can occur — a Tweet can get in mainstream media, etc. At that sort of level, do you have a structured approach at how you manage that type of crisis?
A: We have a great relationship with our corporate communications team. They would help us in that instance, and have the relationships with mass media.
Q: What does your education program look like for new bloggers or tweeters coming on board? How do you identify who is right for the job?
A: All of our bloggers have full-time jobs also. They are experts in their own rights in those fields. We want to find folks who have tremendous personality. We will train folks to use the tools.
Q: Is there a mandatory program bloggers need to go through?
A: Yes, all bloggers are trained by our team.
Q: Wells Fargo has a very diverse range of products — if I tweeted into the mass Wells Fargo, what’s your network to ensure that request gets to the right person?
A: First thing we do with @ask_wellsfargo on Twitter is to set the expectation for what’s on topic and what’s off topic. So when we do get questions in, we do have internal structures in place. Nine times out of ten, we’re going to take that conversation offline so we can talk about specifics.
The Social Media Business Council, formerly the Blog Council, is a brands-only community that helps large organizations build successful social media programs.
Word of Mouth Marketing:
Toyota: Social media and crisis management
Clorox: Using gaming strategies to grow community
BlogWell: How big brands use social media