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JPMorgan shouldn’t have announced its Twitter Q&A unless it was prepared to contend with the public’s negative view of it and other banks.
... JPMorgan’s bankers are getting used to business deals with young men who communicate in emojis and text-message abbreviations. (“During the Facebook roadshow,” according to Bloomberg, “Lee dropped his usual pinstripes for a Mark Zuckerberg-like black sweatshirt with his name on the back.”) Yet, when the bank devised the promotional Q&A, it may not have fully grasped the extent to which new media has transformed how people share information, and how this has tipped existing structures of power.
This is Twitter’s very purpose: to allow any individual to share the same space with, for instance, a hugely powerful bank. With this space comes attention and authority. Unlike at JPMorgan’s Park Avenue headquarters, there are no security guards keeping undesirable elements out of Twitter. If JPMorgan executives expected that #AskJPM would attract only future job applicants—the kind who would don snappy new suits and genuflect nervously—they must have been stunned at the reckoning....
Surprisingly inept social media strategy by the global financial behemoth leads to a PR fail.