Recently JP Morgan felt the wrath of the Twitter-verse even as it helped successfully launch the Twitter IPO. The bank thought it would offer sage advice to those on the internet from one of its top rainmakers Jimmy Lee.
One can only imagine that the bank felt it could cash in on the IPO by getting some goodwill of its own from the company it just launched. While pundits are skeptical about the future of regulation on Twitter, the short message service currently does not filter tweets to favor one brand, company or politician over another. So while investors of Twitter were ecstatic about the IPO, it turned out regular Twitter users were more concerned about JP Morgan’s ethics and the grim reality of their neighbors being now homeless. Even CNBC took notice and released a dramatic reading of tweets starring the voice of American Greed award winning actor Stacy Keach with special appearance by @puppetsOH.
A few key lessons for community managers of all brands from this:
- You never control the conversation on Twitter
- If your brand is trusted two-way conversation can create more goodwill
- If your brand is not trusted – don’t create conversations until you have created brand trust or … AVOID TWITTER! (see also #PennyArcadeJobPostings for more proof)
BusinessWeek: J.P. Morgan’s “Twitter Takeover” taken over by Twitter
New York Times: J.P. Morgan shuts Twitter Q&A with investment banker
Wall Street Journal: Bad blood for J.P. Morgan on Twitter
The Desk: J.P. Morgan Cancel’s Twitter Q&A after “insulting” questions