Recently Goldman Sachs announced its official arrival to Twitter, as one tweet alone won the company 7,000 followers, and some mixed responses. Wall Street & Technology reported that one Occupy Wall Street protestor greeted Goldman with this simple tweet: “Welcome to Twitter.”
The start of Goldman on Twitter follows an ongoing battle of Wall Street to fight a bad image. Former Goldman employee Greg Smith stirred up controversy and judgment of the company’s culture in March with his New York Times opinion piece. The parodied Twitter of Goldman, @GSElevator, conveys an image of snobbery and greed, which does not help their image either.
This shift in communications strategy is being led by new head of communications, Jake Siewert. Though it’s obvious that Goldman Sachs is making an effort to step into the social media realm, it may still be a rough start for them. Their second tweet displayed a “self-congratulatory” feel, according to Wall Street & Technology. It read, “Annual meeting is a wrap. Prelim votes show all directors elected with overwhelming support. Shareholders support GS on all proposals.” In response to this, @CNBC tweeted: “ALERT: All Goldman Sachs directors elected, all shareholder proposals fail – source.”
The question being asked now is if Goldman Sachs can make an impact in social media by using it correctly.