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It would seem the bank has forgotten that the very nature of Social Media – conversations you have are with family and friends and not random third parties – means that if you were to see anything on your Facebook account that was negative about CBA, then it would more than likely come from family and friends. [...]  Last week (9 June 2010) I was lucky enough to listen to Telstra CFO John Stanhope addressed the annual Stockbrokers Association of Australia conference here in Melbourne. One of the points he reinforced was about the boom in social networks via mobile. Of the five million 3G mobile customers he advised that over [...] When it comes to the privacy issues with Facebook nothing displays the reasons for concern better than the Infographics at The Evolution of Privacy on Facebook… [...] When are you guys going to learn? Another financial research firm and consultant, Spectrem, has just recently released a new survey that suggests that not only do 69% of LinkedIn users consult their LinkedIn networks on investment issues but more than one-third of investors say they are interested in receiving information from their advisors or corresponding with them via social networks [...] Yesterday I wrote an article about the Privacy debate that had be raging over Facebook’s new “Open Graph” upgrades (Click here to read the story). The last point of my post was that Privacy (not Price like many other businesses) was the sensitivity that social networks compete on. Well, both CNet and Forbesare reporting that [...] How else would the world’s biggest TV channel celebrate their 5th birthday other than a video… But before you watch it did you also know that; YouTube’s front page receives every day 45,000,000 hit 70 percentage of YouTube traffic comes from outside the US. Every minute of the day 24 hours of video is uploaded [...] Protecting privacy starts with the user and not the social network. But it also provides the most competitive playing field any social network can compete on [...] Ning.com is another example of where users of a web service have had the game rules changed on them just as they become reliant on the service. But when the best defence for your business is to discourage competitors by being free (because you can’t discount FREE) of course the reverse must be true – remove a free product from consumers and they will start hunting around for a new service that offers them the same pricing structure. [...] You can understand the strong case for using social media for investment decisions when those aged 21-39 relied on websites, friends, family and work colleagues for investment advice. [...] To beat up a bank is easy – like taking a toy from a kitten – anyone and everyone does it. The hard thing is to congratulate them on a smart choice, and for this I must clear the throat and say “WELL DONE COMMONWEALTH BANK” for showing iniative in employing their first Social Marketing Manager [...] |
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