This is a follow up to my post Retail Banks Resist Social Media. Really??? I am taking a closer look at the big US retail banks and starting at the top with Bank of America. There is not a hint of social media on their home page but I found this page.
They claim to be “live in social media and here to stay in touch and serve you better.” That is partially accurate because they are live on Twitter and YouTube.
Their Twitter strategy is sound. They have two accounts where you can engage B of A for customer service (@BofA_Help) or employment opportunities (@BofA_Careers) and four accounts used to broadcast information on a variety of topics (@BofA_News, @BofA_Community, @BofA_Relo and @BofA_Tips). When communicating with @BofA_Help your tweets are answered by individual representatives, for example, in the tweet below ^SB is Sarabjit.
Bank of America joined YouTube in March 2006. I am surprised they have a presence on YouTube and more surprised they regularly upload content. Unfortunately, the channel doesn’t get many views so it may not be worth the effort.
For Bank of America, social media ends there. Surprisingly, they have no public corporate blog. They have no “official” presence on Facebook, but there are many unofficial Facebook pages. Lots of unhappy B of A customers expressing their hatred in choice words – Bank of America Is the Worst Bank, Bank of America Sucks or BOYCOTT Bank of America. The Countrywide merger brought with it more that just bad mortgages. It introduced a bunch of pissed off customers who aren’t afraid to talk about it on Facebook.
Bank of America uses the HITS approach to Facebook. As noted in my post on State Farm, you need to be ready for criticism and negativity. There are people with a bone to pick and social media provides an open mic. I find the stark contrast between Bank of America’s approach to Twitter and Facebook quite odd. Scott McAndrew blogged about this last year in his post Bank of America: A tale of two social presences. See it for a more detailed analysis.
Those are my two cents what are yours?