Social Media Command Centers

Social media is becoming such a large part of the financial industry that Wells Fargo felt it needed to produce entire command centers to monitor social media content. A “Social Media Command Center” a center where a company’s social media team can monitor and engage in social conversation around their brand and market. Wells Fargo currently has a main location in San Francisco and back up centers in Charlotte and the Philippines.

Forbes magazine, however, advises firms to be careful about jumping on this social media command center bandwagon. Similar to other social media stunts, they advice a company first access their tactics and strategies.

The first bank to experiment with the idea was NAB Australia in 2012, according to The Financial Brand. To follow were Master Card (which calls it a convenience center), Wells Fargo, and ChaseScreen Shot 2014-03-25 at 10.40.17 AM.

Chase took the idea up a notch, however, by having ultra transparency. Their command center in Columbus, Ohio, is literally transparent. The entire building is made of glass. One employee jokes about how they certainty cannot have casual Friday anymore.

This tactic is great because people walking by not only get to see whats going on and take an interest in Chase, they get to recognize that Chase is on twitter are motivated to engage with them.

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4 thoughts on “Social Media Command Centers

  1. It is amazing that even banks are using social media to connect with their customers. This idea of a social media command center seems like a great way for banks to monitor their reputation and start conversations with its customers. I think this is important when it comes to banking because people do not switch banks a lot, therefore their customer service and relationships needs to be built on a strong personal platform. You should show some examples of how Chase is using the social media command center to connect with its customers. I think this would give your post more validity and show how the social media command centers work in reality.

  2. Stephanie Gross says:

    This is really smart of banks like Chase to do this- for their brand image and for customer satisfaction. Their consumers get so frustrated when they have to call or go into a bank and wait a long time to get help, so making themselves relevant on social media is a way to improve service. It’s also a great idea that they’re being so transparent about their efforts. It shows customers that they care, whether or not customers are actually contacting them through social media.

  3. I am interested to know what they are really filtering and responding to in the command center! It seems like there would need to be a pretty significant want or need for this for the bank to put out the money and resources for this. What kinds of things do they deal with? I would never think to tweet and Chase bank if my personal Chase bank in my hometown made me mad. I suppose though if I had trouble activating my new card I could tweet at them for help! That certainly would be a convenient thing.

  4. This is so interesting! In class we have been learning how important measuring social media metrics is and to track what is being said about your company. It is interesting that banks are utilizing social media so much. Like Ashby said, banks are normally a thing you join for life, so keeping their customers loyal is SO important! They should also try to get their current customers to talk to their constituents about their good experiences with their bank, because as we know, we trust our peers opinions more than anyone’s.

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