Tuesday, December 2, 2008

Bank of America vs. the Groundswell


How does Bank of America use the Groundswell? How do they benefit from using the groundswell?

Bank of America has been adopting the Groundswell, but they don't even know it! Lately, there has been much chaos due to the economic recession for the banking industry and many others, but Bank of America unlike some banks is still standing. Bank of America now has BOA alerts for customers with mobile internet access, so that they can take their finances wherever they go. BOA has also been seen on the new G3 mobil devices and is one of the only Banks recently to be availble to many of the customers on high end mobile devices. According to Kristen Nicoles article found on this site: http://mashable.com/2007/10/10/bank-of-america-socnet/, "BOA has launched a new kind of a social network," said Nicole. It can be found on the BOA main sign-in page of BOA. As technology advances and more people start to use and take advantage of the power of social media, one can find the usefulness of adopting the Groundswell. Even though BOA is using the Groundswell and they may not know it. It's important for any kind of business to learn and adopt the Groundswell, so that they can reach a larger audience and take advantage of other online forums. According to Nicoles article, another blogger suggested the following and recommended/commented the following: Mercedes-Benz, another old-economy company, is getting customers through online communities: http://www.designvsart.com/blog/?p=34. If BOA continues to really listen to their customers and continue using online media forums they could find really useful information from customers. One customer from this site:http://weblogs.redeyechicago.com/iphoneblog/2008/03/quick-thought-o.html, commented that, "BOA gave them a reality check and suggested that BOA get better credit card offers that are realistic and reasonable. Is your Bank really listening? Are they Talking to there customers? These are just a fe questions to consider when you think about how your Bank uses social media to reach you in your community(http://weblogs.redeyechicago.com/iphoneblog/2008/03/quick-thought-o.html,)."">a href="http://weblogs.redeyechicago.com/iphoneblog/2008/03/quick-thought-o.html">http://weblogs.redeyechicago.com/iphoneblog/2008/03/quick-thought-o.html,)."

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