Wachovia Bank Update: New Twitter Strategy Matches “Connectivity” Goals

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Direct Message to deansguide from our friends at Wachovia Bank

If you have followed the deansguide series of critiques on Twitter.com business strategies, one of the companies I outlined was Wachovia Bank: “Bank’s Twitter Strategy: Lack of Strategy Hurting Brand.” In this critique, I pointed out the following:

  1. They had no discernible strategy
  2. Their lack of strategy in following people (audience of customers) could be perceived negatively
  3. They were not being true to their Twitter Bio mission

Wachovia’s Old Strategy: Follow a minimal percentage of audience-clients on Twitter

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The results can be seen in the “follow” and “followers” categories where Wachovia was following only 11% of their audience.

Wachovia’s New-Improved Engagement Strategy

As of today March 12, 2009 Wachovia has aggressively fixed their follow strategy by following every one of their followers. By adopting this strategy, Wachovia now has created the following:

  • Open line of communications with audience via Direct Messaging
  • Created the perception that they wish to communicate with their audience
  • Provided their audience with recognition by following each person or company who follows Wachovia on Twitter
  • Demonstrated their willingness to listen to their audience
  • Quickly tap into customer conversations and solve customer services challenges that may exist
  • Demonstrate they are one of the leaders in the Banking industry in regards to social media and audience engagement on Twitter

Wachovia Bank March 12, 2006 Twitter Account

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