on average, people are checking their social media up to 17 times a day
That’s at least once every waking hour, if not more. That’s huge - especially since it has only been around a couple of decades. So how have consumers and brands adapted?
Let’s dive in to find out
What is social media
Traditionally, social media has been defined by the websites and applications that allow users to create and share content. Over time, social has evolved into much more than that. It’s now a platform for instant communication, research and learning, and even business opportunity.
Impact of social media on wells fargo
Today’s consumers are more connected than ever. If they’re awake, they’re online and their need for constant connection has revolutionized the way brands do buisness.
How does this broader definition of social media impact customers? Or Wells Fargo team members? How about Wells Fargo as a brand? Or even you – a social executive?
This guide will help answer these questions, allowing for a better understanding of the role social media plays in all of our lives.
CUSTOMERS EXPECT BRANDS TO LISTEN AND ENGAGE IN SOCIAL MEDIA
Sustainable social media presence is key for doing business in today’s connected world.
Wells Fargo listens to all brand related social media mentions and engages appropriately.
Customer care related issues are addressed within 2 hours by trained “Social Bankers.”
Social media requires a quick response. And social media is 24/7.
when customers talk on social, their friends listen
Social media enables consumers to easily create content online and influence others.
Listening grants us access to a great amount of data about our customer’s digital footprint, informing us of customer trends and insights.
Source of trusted information comes from personal networks versus brands and institutions.
Consumers control the message.
Consumers reward brands who build trust and provide value
Honest and lasting brand/consumer relationship is the basis of creating brand advocacy in social media.
Ongoing listening and personalized dialog is key to developing lasting relationships in social media.
Top talent is active in social media and ready to engage in career conversations
Social media gives opportunities to engage with prospective team members, promote the Wells Fargo employer brand, and demonstrate our expertise through thought leadership.
Social media enables wells fargo’s culture of collaboration
Social media changes the way we work. No matter our geographical location and departmental boundaries, team members are able to share knowledge, collaborate and get work done.
Wells Fargo’s enterprise social network, Team Moments, is used for knowledge share & collaboration.
Visit Team Moments
TEAM MEMBERS ARE EAGER TO CROWDSOURCE FOR INNOVATION
It takes the power of many ideas to create lasting innovation. Social media allows team members to pitch ideas, refine approaches and implement break-through innovation.
Wells Fargo’s internal innovation platform, Ideas Portal, is where Wells Fargo team members collaborate on new ideas.
Visit Ideas Portal
SOCIAL MEDIA PROVIDES OPPORTUNITIES TO ENGAGE DIRECTLY WITH CONNECTED CONSUMERS
Wells Fargo brand needs to be where our customers are - and for the most part, that means social media.
Our engagement leads to better brand recognition, customer retention, acquistion and deepening of relationships.
Our presence in social media is customer focused, not brand focused.
We engage customers through relevant content that encourages them to take action.
CRISeS PLAYS OUT PUBLICLY in social media
Since social media is pervasive and global, the branded channels work with approriate stakeholders to ensure the right messages are sent at the right time.
Electronic Command and Social Media Policy
We take engaging in social media very seriously and developed ways to mitigate risk through policies, processes and social media training.
Transparency is often required to be successful in social media.
Be prepared to act quickly.
CONSUMERS REWARD BRANDS WHO BUILD TRUST AND PROVIDE VALUE
By participating in social media and bringing value to our followers, Wells Fargo is rewarded with trust, loyalty and business.
Listen and learn
Social media allows you to listen at scale to your customers, team members and shareholders and collaborate with them on solving problems.
INFLUENCE BY SHARING YOUR THOUGHT LEADERSHIP
Through social media (both internal and external), you can publish your thought leadership and influence stakeholders at scale.
Links to other WF executives on social media
ENGAGE TO TRANSFORM YOUR ORGANIZATION
Continue to evolve your collaborative style of leadership by listening, engaging and networking with team members, stakeholders and other thought leaders.
Ask your communicator for your copy of Charlene Li’s “The Engaged Leader” book.