Wells Fargo Social Media Analysis

May 04, 2012 by Kyle Benham

As you walk into a local Wells Fargo branch you're immediately greeted with friendly "hellos” coming at you from all directions. This over-the-top greeting is rather comical so you draft a quick tweet and share this experience with the world.

Another customer is enjoying her morning coffee as she reads a headline on Bloomberg: Wells Fargo Dominates Home Lending. She's proud of her bank; she's been part of this brand for over 20 years and would love to share the news with her friends on Facebook.

And in Charlotte -- look, it's Tiger Woods! He's paired with Webb Simpson and Geoff Ogilvy for the second round of the Wells Fargo Championship at Quail Hollow.

The Wells Fargo brand is being talked about online, but it won't take much digging to realize their social media presence could use a little help.

Let's join the conversation on their Facebook page:

Wells Fargo Facebook Page Wells Fargo Facebook Page Wells Fargo Facebook Page Wells Fargo Facebook Page Wells Fargo Facebook Page Wells Fargo Facebook Page

Is there a way for Wells Fargo to fix this problem while still remaining transparent?

Yes, it's actually very simple, too. Wells Fargo has made their Facebook page an open platform where they welcome comments.

I applaud them for not censoring their platform, but they contradict themselves by stating their Facebook page is not a place for customer service. In fact, they have made it nothing but a customer service page for their users.

It appears they have a social media team that is currently responding to most comments/ complaints, but they are only working on a M-F 9-5 PT schedule.

Five steps to transform Wells Fargo into an engaging Facebook brand

1. Relax

It's important to act quickly so your audience doesn't think you are ignoring them, but be careful -- mistakes occur when your brand is under attack and anxiety hits (example from Wells Fargo).

2. Listen

You must understand your audience to effectively communicate with them. By listening to your audience you will be able to relate and generate content that fits.

3. Strategize

Social media doesn't work Monday through Friday from 9-5 and then sign off; calling it day. So why is Wells Fargo?

As a national brand, I would suggest not making your platform fully transparent until you are capable of managing it correctly.

If I were in charge of social media at Wells Fargo -- I couldn't sleep knowing my brand was under attack and not being monitored.

4. Create Innovative/Engaging Content

Once a 24 hour social media team is in place, it's important to create engaging content for the user.

Directing users to a 1-800 number is not engaging content. Wells Fargo has 7 blogs with interesting content targeting multiple demographics. Why aren’t they using these articles to cross promote their brand?

5. Implement

Now, it's time to interact with your audience.

Here's a great example of being lazy; finding very little content, and posting with poor execution...

If your goal is to mention barbecue -- spend a couple of minutes to find a status update from a customer. For example:

"This looks delicious, [tag customers name!] Is anyone else having a barbecue?"

Another tip to remember when posting photos is to always add captions:

Tiger Woods with Troy Murray, a 43-year-old accounts director and 4-handicap who won the chance to play with Woods in a company lottery.

Adding captions to photos will make them even more engaging. It is also very helpful for visually impaired users who rely on screen-readers to understand your content.

By creating an audience that is engaged in your content; they become part of your brand and they want to share that story with their friends.

And look what Wells Fargo just posted...

Let's talk, Wells Fargo!