Large brands in conservative industries often view social media as a threat because they hear and see PR horror stories. They feel they have more to lose than gain by participating and embracing new media.
The truth is that social media is becoming a vital asset with enormous reach.
So how does a conservative industry like financial services use social media?
We look to American Express (Amex) for some answers.
American Express knows that Facebook will create more stories than the company could achieve on its own as followers share content such as videos, images and articles.
In looking at the key metric on American Express’s Facebook page “Talking about this,” the number of crowd-sourced stories at a particular moment in time is 13,406. (This is the number of actions such as likes, comments and shares by the company’s fans.)