This morning, a Goldman Sachs’ employee released an Opinion Page called “Why I Am Leaving Goldman Sachs“. This two page article breaks down all the reasons that Greg Smith left this company after 12 years of employment.
While the article itself is pretty shocking… talking about squeezing out every last penny from customers, calling them “muppets”, and the lack of moral-driven business decisions, it is the article’s response that is truly revolutionary. With 366 comments just on the NYT article, plus all the various other reporters who have reflected on this article, the reach is far wider than it would have been five years ago.
In the past week, we’ve all heard/seen/been told about to the KONY 2012 video on YouTube (which now has over 77 Million views). The spread of this video really illustrated the powerful reach of the social networking tools we have today, and this article is having the same effect.
With the Goldman Sachs stock down almost $4.00 so far today (1:00 PM PDT), the impact of this kind of publication is astounding. Obviously not the good type of publicity, but people are once again talking about Wall Street.
These two instances are demonstrations of the connectedness our world has today. Many brands and companies are still cautious or weary of the use of social media; but as time continues and these tools gain more and more reach, brands will have no choice but to adopt this “new” way of reaching the general public.
Gone are the days when effective advertising would cost millions of dollars to reach large audiences. Now, a campaign needs a combination of three things: stickiness, social media, and social media mavens. Reach your talkative audience on a social networking site with a campaign that they can talk about. And trust me, they will be talking, tweeting, liking, posting, sharing, etc.
It’s time you build the conversation for your brand and choose what people talk about. Bring on the maditude!