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August 30, 2007
The Facebook factor
Sue points us to the story of a UK-based bank that was inundated with the complaints of thousands of Facebookers who'd banded together and threatened a boycott.
It was because the bank decided to eliminate interest-free overdrafts for students. Many students said they had joined the bank because of this benefit that was now being eliminated. The bank smartly gave up the idea in the face of fast-moving word of mouth.
The lesson to this story is that social networks as word-of-mouth networks create strong immune systems to poor decisions. The bank's decision may have looked good on paper but the real world of word of mouth told it otherwise.
Other blogs that reference The Facebook factor:
» Social Media Top 10 - Week 3 from The Bryper Blog
Week 3 - Friday, August 31, 2007
1. Lifestreaming
Im not sure this is a game-changing concept, but aggregating your disparate social media content into a single place certainly can be helpful.
2. Backlash against Scoble
His videos about the fut... [Read More]
» El factor Facebook from Rouge: Temas de negocios y tecnología para mujeres
Una campaa orquestada por estudiantes universitarios utilizando el site de redes sociales Facebook forz a dar marcha atrs a un banco multinacional sobre su poltica de cargos en los sobregiros. lecciones para las empresas sobre ... [Read More]
That is an awesome story. I can't tell you how many times i get miffed and then want to tell the person: "you will pay, i'm gonna blog about this".
They usually say something like, "yea whatever". I think i may need to create a group on facebook, the next it time that happens.
Ahh ... so HSBC did an ABOUT FACE(book).
[Sorry Jackie. I couldn't resist the pun opportunity.]
