subject: Branding Yourself through Social Media: Financial Firms Say "No Thanks" [print this page] Branding Yourself through Social Media: Financial Firms Say "No Thanks"
Although we are seeing companies pop up all over social media websites, not everyone wants to play. Some financial firms are stepping away from Facebook and Twitter in fear that they may not get the pleasant reaction they would like. The disastrous bank bailout painted a negative image of the CEO's behind some of these big name firms. Can you imagine the negative PR that would emerge if a person on Facebook or Twitter expressed their disdain for these executives? They aren't exactly the most honest people, so being well liked doesn't come easy with that disadvantage.
While some companies brand themselves through social media, creating waves of social influence, others do what they feel is right for them. Social media may not be for everyone, and with its constant evolution, companies have to anticipate changing with it. Not everyone is up for that, especially not traditional companies who thrive off their never-changing ways. Also, some of their clients who may be 75 to 80 years old may be turned off by the idea of the Internet. They still have to keep their "regular's" happy and aware of their brand and happyand they may prefer mail-in ads.
So we can't expect everyone to jump on the social media train, but for those who do want to use it, they will have to do so effectively. If it is bringing your brand attention, do it. If it loses that effect, throw it out. The point is it may be right for other companies, but it may backfire for yours. People on the Internet express themselves freely and you may not want their negative opinion of your brand all over your brand's page.
