There’s some pressure on many brands to be interesting on the internet nowadays with their social media engagement. The bank company Chase just took their shot at being the new hip kid on the internet block, and are now finding themselves mired in controversy.
It all started, as most publicity problems do nowadays, on Twitter. Chase sent out a tweet that personified your low bank account trying to tell you to be wise with your money.
— Brandon Morse (@TheBrandonMorse) April 29, 2019
What Chase tweeted out was actually common sense stuff about how you can keep your bank account from being lower than it should with the overall lesson being to be frugal.
Of course, a bank advising people to be more austere is going to trigger some of the people who “can’t even talk to anybody without my morning Starbucks, OMG.”
Chase didn’t apologize (good, they shouldn’t) but did thank Twitter for their “feedback.”
“Feedback” is corporate-speak for “overdramatic internet outrage.”
.@Chase: why aren’t customers saving money?
Taxpayers: we lost our jobs/homes/savings but gave you a $25b bailout
Workers: employers don’t pay living wages
Economists: rising costs + stagnant wages = 0 savings
Chase: guess we’ll never know
— Elizabeth Warren (@SenWarren) April 29, 2019
— Stevie Franchise (@St3pBack3) April 29, 2019
lol fire your social media team
— literally a ghost 👻 (@fixverified) April 29, 2019
You're providing good #MondayMotivation for the overthrow of capitalism
— Scott A.W. Brown (@Scott_AW_Brown) April 29, 2019
How about you get better at paying your employees and worry less about the other stuff.
— Rodney Quills (@SavedLatin83) April 29, 2019
Admittedly, a bank that accepted a $12 billion bailout in 2008 is probably not the best candidate for tweeting out posts about keeping your bank account nice and padded. Given, JP Morgan Chase had repaid that bailout money and then some in 2009. Chase President Jamie Dimon noted that they never needed it in the first place, and claimed that the only reason they took it is that the Obama administration’s Treasury Secretary asked them to.
Regardless, it’s probably not the best idea for a bank to try to be relatable. If banks truly want to connect with Millennials and Gen Z, the best way to do that is to give them a better banking experience through new technologies and banking AI. With more and more people using apps like Venmo and Zelle, banks like Chase would be wise to promote more of, and show off regarding, that frontier.
This “how do you do, fellow kids” stuff is just kind of out of place for a bank, even if the tweet they sent was spot on. Leave the clever, relatable tweets to Wendy’s and Taco Bell.