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Home » Editor's Comment, Engagement

Muppets that they are, Goldman Sachs now forced to invest in social media

Submitted by on May 4, 2012 – 6:37 amNo Comment

Goldman Sachs needs you. Well, one of you at least. The Wall Street juggernaut, the investment bank everyone loves to hate, is searching for a social media engagement specialist, we learned this week. To be sure, it’s a recruitment first for Goldman, which has seen public opinion around its brand hit new lows in recent months.

Much of it, as we’ve detailed in the past, is due to its complete ignorance for and neglect of social media. Case in point, Goldman has a Twitter channel it’s never used and a Facebook fan page that’s long been overrun by haters. No wonder it found itself completely incapable of adequately defending itself, despite its well-paid PR team, when a manager quit in March and penned the now infamously viral “Why I left Goldman Sachs” resignation letter.

When it comes to social smarts – by which, we mean transparency, responsiveness, accountability; all of the traits that the public values and will reward in the brands of the future – Goldman is a bunch of “muppets,” to use the favorite lingo of GS traders. So, it’s no stretch to say this new recruitment effort, started by former press secretary to President Bill Clinton – Richard L. “Jake” Siewert Jr., Goldman’s new head of global communications – may be the most important hire the company has made in decades.

We’re following their Twitter feed for word, any update really. But we’re not holding our breath. As of the time of this writing, the Tweet count sat at zero.

Turning now from the least social savvy of companies to the real innovators now… Just a reminder that registration is open and the agenda is set for this year’s Social Media Influence 2012 conference in June. We’ll be again focusing squarely on best-practice social/mobile/digital strategy in the business world. You’ll hear from the companies, brands and organizations that are innovating in the area of social gaming, social commerce, social media marketing and social business design. You’ll hear how companies have increased sales, amplified their message and harnessed better ideas from within their organizations using the latest digital and social media tools and strategies. If you register by May 15th, you’ll get a free copy of our e-book: #FAIL: The 50 Greatest Social Media Screw-Ups and How to Avoid Being the Next One.

Come join us on June 12th!

- Bernhard Warner

editorial director, SMI

Follow us on Twitter at: @socialinfluence… And on Facebook.

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