What Goldman Sachs joining Twitter tells us

Like many Fortune 500 companies, Goldman Sachs has avoided the use of social media, such as Twitter and Facebook, until recently.

There are speculations as to why large corporations do not use social media; it could be because they are avoiding infinite amounts of negative feedback, or simply because the culture and structure of their corporation is not ready to undertake the insanity that is social media. There are endless possibilities as to why they don’t use these platforms of communication.

Whatever that reason may be, Goldman Sach’s leap of faith into the Twittersphere is proof that there is no longer an excuse to not be on social media. If they can do it, than any company can.

In Michele Welch’s article, What Goldman Sachs joining Twitter tells us, she explains that Fortune 500’s are realizing two things: the value that social media holds and that not having those accounts is actually causing companies harm.

Why all companies need to be on social media:

1) Competitors and customers are moving ahead (without you).

2) Content sells. Using blogs and other social platforms are becoming the best way to sell products and services. Social media host content, thus you need social media sell your brand.

3) Not being on social media is restricting communication with publics, not fostering it, and that’s just bad PR.

Michele Welch’s “Package Your Genius”

And there you have it: Goldman Sachs is one of the many Fortune 500s that will soon join Twitter and other social media networks because marketing without social web-driven platforms is simply not enough anymore.

For more thoughts why Goldman Sachs joined Twitter, go to Package Your Genius by Michele Welch <

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2 comments

  1. First off, this was such a great find! It’s amazing to me this company wasn’t on social media before, but now that they are I think it will be interesting to read what they tweet about and what people may tweet at them. I also think you’re completely right about the fact that not being on social media is very restricting and “bad PR.” Now that they are on social media, I’m sure other similar firms will join as well.

  2. Olivia, I agree that it is important for all companies to use twitter. I feel like it is no longer an option or strategy. You are correct in saying that it is important to have so that companies do not get left behind. Twitter is a simple and effective way to keep clients and the media updated on a company.

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