Thursday, March 1, 2012

Bank of America defends itself through social media

Bank of America was at the center of a media firestorm again Thursday after the Wall Street Journal published a front-page story saying the bank is pondering new fees. A number of other media outlets, including MSNBC and ABC News (and The Charlotte Observer), followed suit.

In what could be the start of a new strategy, the bank took to social media to defend itself.

The bank published a similar message on its Facebook page. Within 10 minutes, it had about 20 -- mostly negative -- comments.

Bank of America has generally used social media to spread the word about its philanthropic efforts and link to news releases. Even as the bank became the target of intense scrutiny over a proposed debit card fee, the bank did not take to Facebook or Twitter to defend itself.

Companies have not always had success managing public outcry via social media. In December, Lowe's Home Improvement tried to explain why it stopped advertising on a television show about Muslim Americans. The company ended up deleting the post after being flooded with thousands of comments, many of them hateful.


Anonymous said...

Social media, if nothing else, is the great vocal equalizer. Opinions and facts are spread globally in a matter of minutes. Whether you're a multi-million dollar corporation or a lone voice in the wilderness. When every becomes Gutenberg, those few that once held media within their control become impotent. No longer do disgruntled customers have to sit back and be treated unfairly .