The Danger of Creating a Social Media Monster

JPMorgan lost control of a hashtag it created for a recent Twitter campaign, building more negative attention than positive PR. What should it have done differently?

Written by Advisor Staff

JPMorgan, which has been in the news because of a series of multi-million dollar regulatory settlements, suffered another public relations setback this week, reports the New York Times.

It asked Twitter users to submit questions for its vice chair, James Lee. He was part of the team that helped take the social media site public earlier this month.

The Q&A—scheduled for Nov. 14—was supposed to focus on job advice for young people.

Instead, #AskJPM was flooded with pointed questions about the bank’s role in various financial scandals.

“What is your favourite type of whale?” tweeted one user, referring to the bank’s London Whale scandal, which is now in the courts.

Read: U.S. banks criticize JPMorgan for whale error

“Do you feel bad about systemically undermining democracy? Do you know what fiduciary duty is?” another asked.

“As a young sociopath, how can I succeed in finance?” asked another.

While JPMorgan called off the event, the hashtag continues to be inundated with questions.

This isn’t the first time social media posts or campaigns have backfired on a business or brand. (Read: Business Insider’s CTO Resigns After Sexist Tweets, Epic Facebook Meltdown). Could JPMorgan have handled this backlash by confronting it, rather than attempting to shut it down? Leave your comments below.


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