social media watch

Banking on Social Media: The Financial Services Brands That Get Social

Posted by Sheila Shayon on March 27, 2012 03:03 PM

The vast majority of wealth managers and private banks are dealing quite “clumsily” with social media according to a recent study of 50 leading private banks and wealth management firms by Swiss consulting firm assetinum.com.

“Amateurish” social media strategies, “hibernation” on Facebook and “tokenism attitudes” towards Twitter and YouTube are abundant.

Of the institutions assessed on a 100-point scale, the average score was 43 points. Twenty-seven of the firms did not reach half the maximum points in the Facebook category; 25 fell short in the website and mobile category; 25 scored less than half in the Twitter assessment, and for YouTube and LinkedIn the scores were 29 and 21.

While 42 out of 50 banks have Twitter accounts, just 26 are active in response to posts and only 13 posted content about wealth management. Nineteen banks have blogs with only six of those interacting proactively with consumers.Continue reading...

brand news

In the News: AT&T Warns, GM Re-Volts, TomTom's New Beat

Posted by Dale Buss on December 9, 2011 09:05 AM

In the News

Apple still sees consumer demand for iPhone 3GS.

AT&T warns blocking T-Mobile deal will lead to higher prices.

Amazon provokes retailers with new price-check app.

Banana Republic opens Paris flagship.

Bill Gates rumored to consider returning to Microsoft.

Billabong uses augmented reality in new campaign.

Carrefour mulls merger with French supermarket chain.

Dean & Deluca expands from New York to Singapore.

Jamba Juice to tap into schools market with self-serve units.

Ford to restart dividend after five years.

GM CEO Dan Akerson acts aggressively to staunch Volt damage.Continue reading...

in the spotlight

Wall Street Wobbles as Occupy Wall Street Marches On

Posted by Barry Silverstein on October 19, 2011 02:10 PM

With the Occupy Wall Street movement now one month old and continuing to rattle workers in the financial industry around the world, a few big financial brands are being rattled independent of placard-carrying protesters in their midst.

Goldman Sachs lost $428 million in its latest quarterly earnings report, its second quarterly loss ever.

Citigroup has agreed to pay $285 million to settle SEC charges that it misled investors related to its mortgage businesses.

And Bank of America can't bank on being Number 1 anymore, as BofA cedes top spot to JPMorgan Chase this week.Continue reading...

follow the money

Bank of America Increases Fees Despite Ongoing Occupation

Posted by Matthew Moore on October 12, 2011 05:01 PM

While some companies are embracing the ‘Occupy’ demonstrations popping up across the United States, others like Bank of America have made the decision to ignore the impact that these demonstrations can have on consumer sentiment.

Less than two weeks after ‘Occupy Wall Street’ demonstrations began in downtown New York, executives at Bank of America thought it a good time to roll out a new $5 monthly charge to its customers making check card purchases in a given month. Two other large banks, JP Morgan and Wells Fargo, are also reported to be considering similar fees.

Bank of America is now taking heat (including being spoofed on Ellen) for its recent fee introduction from both legislators and the media. Senator Dick Durbin, D-Ill. urged customers to take their money to different banks. A Fox Business Network anchor went further and made headlines when she cut up a Bank of America debit card on air.

Consumer watchdogs will argue that the fee is not fair and that the government needs to protect consumers; however, the damage for Bank of America has already been done thanks to all of the negative press its announcement has received. Recent reports of sluggish performance on the bank’s website over the past few week have even been attributed to the bank’s fee announcement.Continue reading...

brand news

In the News: Apple is Gored, NFL Pursues Women, Twitter Gets Political

Posted by Dale Buss on September 22, 2011 09:01 AM

In the News

Apple will introduce new iPhones next month, board member Al Gore confirms.

Bank of America, Citigroup and Wells Fargo are hit by ratings downgrades by Moody's.

Bill Gates tops 2011 Forbes 400 wealth ranker.

Facebook is introducing a 'listen with your friends' music app but faces challenges in digital entertainment.

Full Tilt Poker fires back at Justice Department.

Hulu invests in content even as it's for sale.

Netflix teams with Discovery for two-year deal.

News Corp. nixes a "Simpsons" channel but has big hopes for FX.Continue reading...

brand news

Brands to Watch: iPhone 5, Qwikster, Tyson Foods & more

Posted by Shirley Brady on September 19, 2011 06:34 PM

Brands to Watch

Apple "iPhone 5 in October" rumors heat up and cases appear, while Samsung sues to pre-emptively block the device in Korea.

Netflix's Qwikster spin-off proves a turn-off to observers, subscribers and Wall Street.

Tyson Foods releases social campaign for Feeding America, and settles 12-year legal battle with employees with $32M settlement.

AT&T faces tough battle with seven states backing DoJ suit.

Facebook and Time Warner's CNN and Cartoon Network team up on anti-bullying pledge app.

Jarritos Mexican soda appeals to non-Hispanic young men with new campaign.

Kenshoo expands relationship with Omnicom's Annalect.

Lego enhances augmented reality packaging.Continue reading...

brand news

Brands to Watch: Angry Birds, Google and Motorola

Posted by Dale Buss on August 16, 2011 05:59 PM

Angry Birds maker and others look at Google gaming potential as Google hopes to keep growing like a startup, CFO says.

Berkshire Hathaway increases stake in Wells Fargo.

Ford wins out in new U.S. vehicle-satisfaction survey.

Honda faces difficult month as shortages persist.

HTC files trade complaint over Apple technology in iPads and iPhones.

News Corp. editors said to know of hacking in 2007.Continue reading...

brand news

In the News: P&G, Shell, Kraft & more

Posted by Dale Buss on August 5, 2011 08:55 AM

In the News

Global markets swoon after yesterday’s disaster on Wall Street.

Borden steps out with “Friends of Elsie” campaign.

Comcast and DirecTV engage in legal battle over advertising about NFL broadcasts.

Discovery Communications continues with upbeat reports.

Dodge leverages NASCAR to tout new Durango.

Dunkin’ Brands to boost prices to cover commodity-cost increases.Continue reading...

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