It’s not only quite impressive that Wells Fargo Bank & Co is adopting social media with such open arms – but it’s IMPORTANT to watch them lead the way for other banks and financial institutions.
Online Marketing for Banks
WAY, way back – in the social media world – March 2006, Wells Fargo & Co. launched its first corporate blog.
Today, with hundreds of employees using blogs to brainstorm with each other and interact with customers, they’re LISTENING to their audience. And that’s ground-breaking significant, because Wells Fargo is the No. 4 U.S. bank.
Launch of a Virtual World
They’ve even gone much further, boldly launching Stagecoach Island, an online virtual world where you can explore the island and its hidden secrets, connect with friends and make new ones, and at the same time learn smart money management.
Targeting the hard-to-capture Gen X and Gen Y audience, Wells Fargo brilliantly created this free gaming platform to grab the attention of this coveted market and gain their loyalty by offering a fun online attraction marketing tool to engage them and keep them coming back.
Learn Money Management
Stagecoach Island is creative and fun, but also a very important learning experience in managing money.
You can earn virtual money by visiting the Learning Lounge — a virtual Wells Fargo ATM — and answering questions about money management. They’ve also introduced virtual jobs, credit cards, and home loans so that you can learn, earn, build and play more in-world!.
Now that the Gen X and Gen Y audience is playing on Stagecoach Island, guess where they’ll do their banking?
Additional Social Media ‘Firsts’ by Wells Fargo Bank
Wells Fargo now claims a variety of banking-industry social media firsts – among them:
- First bank with 2, 3, and 4 blogs
- First bank in the world with a Second Life presence
- First bank on MySpace
- First bank with an avatar persona on MySpace
- First bank with a VP Social Media
The bank has also branched out to Facebook, Twitter and YouTube.
It’s all about online strategy and goals – move forward and realize tangible, meaningful returns – profits – increased customer value that leads to loyalty & retention.
See Well’s Fargo Bank’s full social media story.
Online marketing for banks – has it touched you yet? What does your bank do in social media?
For more resources, see our Library topics Marketing and Social Networking.
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ABOUT Lisa M. Chapman: With offices in Nashville Tennessee, but working virtually with international clients, Lisa M. Chapman serves her clients as a business and marketing coach, business planning consultant and social media consultant. As a Founder of iBrand Masters, a social media consulting firm, Lisa Chapman helps clients to establish and enhance their online brand, attract their target market, engage them in meaningful social media conversations, and convert online traffic into revenues. Email: Lisa @ LisaChapman.com