Kristin R. MoyerStessa Cohen here. Since the financial crisis broke into the mainstream press, I’ve been following how banks are communicating with their customers about the crisis. The bottom line so far: pretty dismal. More press release-style communications than clear, direct communication. These days, direct references to the financial crisis has pretty much disappeared from the front pages of the many banking online sites.
A couple of days ago, however, I found what I was looking for. Tucked away in an Knowledgebase email newsletter from the Stanford Business School I found a link to a talk given by Richard Kovacevich, chairman of Wells Fargo on March 13, 2009 at a day-long event produced by the Stanford Institute for Economic Policy Research. In a video on the Stanford Business School Youtube channel, Mr. Kovacevich explained the financial crisis, Wells Fargo’s role in and position during, and the impact of it all on the consumer so that a lay-person-without finance background could understand it. He placed the current crisis in context of other economic crises. He spoke clearly, in a straightforward manner. I’ve been forwarding this to friends and family ever since.
This video, while not produced by Wells Fargo, points to the importance of banks creating social media strategy. Social networks, obviously, extend beyond those created or managed by the bank. Has your bank thought about how to leverage media, such as videos made and stored by others online? If they could be useful to customers, how about linking to them or incorporating them on your site?
Have you discovered any other bank customer communications about the financial crisis hidden in the nooks and crannies of the internet? Please share them!
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Category: Customer Tags: customer communications, financial crisis, retail bank, youtube
