Stagecoached: Wells Fargo Drives Social Media Into the Banking World

A growing array of corporations are using social media to speak with consumers. After getting in the game a year ago, how has Wells Fargo responded?

 
 

Social media is a growing trend across the financial services industry. We’ve already profiled how credit unions are being talked about in the blogosphere.

But did you know Wells Fargo has been using social media tools like blogging for the past year? Here’s a look at how they became active in engaging with the customer in the blogosphere.

March 14, 2006: Wells Fargo launches its first blog, Guided By History.

The blog was launched to coincide with the 100th anniversary of San Francisco’s Great Earthquake on April 18, 1906. The blog positions Wells Fargo as a member of the community by presenting history from their museums and showing personal artifacts from the Great Quake.

September 5, 2006: Wells Fargo generates more controversy with their second foray into the blagosphere, the Student Loan Down.

This blog marked Wells Fargo’s move into a more targeted demographic, Generation Y, with advice on student lending from recent students and educators. This blog was a more adventurous choice particularly in light of a lawsuit filed by the New York Attorney General alleging questionable student lending practices.

November 27, 2006: A fictitious character from Well’s Fargo’s computer game Stagecoach Island begins Cassie’s Blog.

Stagecoach Island, also on Myspace.com, targets the pre-teen demographic by introducing financial services in an entertaining way. People can create characters that live in a virtual world and can buy land and buildings – a 21st century Monopoly game.

In addition to these three blogs, Wells Fargo added a blog to their existing Commercial Electronic Office product, which is aimed at banking professionals. This blog is the only of the four that is private access. Additionally, Wells Fargo mortgage consultants are also “MySpacing” now.

This is a pretty aggressive social media campaign to capture the attention of key communities that credit unions serve. Do you think this strategy will be successful for Wells Fargo? What ideas does this generate for credit unions?

Interested in the capitalizing on social networking and blogging opportunities for your credit unions? Check out Blogging Basics: A New Way to Approach the Member Experience, a Webcast On-Demand through Callahan’s virtual webinar library.

 

 

 

April 23, 2007


Comments

 
 
 
  • Well done. I had no idea that their efforts in the social media were that grandiose.
    Jerry Mathews
     
     
     
  • Wells Fargo''s social media efforts are quite impressive.
    Ron Bensley, Jr.
     
     
     
  • Hey all, thanks so much for your comments. We''re having a great time participating in social media, and look forward to more.
    Ed Terpening - VP, Social Media - Wells Fargo
     
     
     
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