Umpqua Bank Creates Social Networking Site - But is it Effective?
Increasingly companies are trying to become part of the social networking scene. For those that need a refresher, social networking often involves grouping specific individuals or organizations together. That is what Umpqua Bank is trying to do. Umpqua has created LocalSpace™.
Umpqua LocalSpace™ is an easy-to-use virtual networking service that allows individuals to connect with the people, content and resources within their community. Potential new customers, vendors and partners from the area are all online and available to all Umpqua customers. According to the Bank, individuals can get beyond the boilerplate information most search sites provide, and really get to know and support the local businesses around you.Frankly after a couple of minutes of browsing LocalSpace™, the concept sounds interesting, but the content is not presented in an eye-catching way. In fact, I would argue that it is quite basic. It looks to connect individuals and highlights conversation starters, more you should know about the individual or the business and provides photos, files or videos.
Given that this is the information age and I can find information on businesses and individuals in so many interesting and engaging ways – I am not sure this would hold my attention for very long. And I am classified as a baby boomer!I would love to hear from anyone that is benefitting from LocalSpace™.
While it may seem that I am not very keen on what Umpqua is doing, I believe that every bank should think about how they are going to get involved in the social media space. While it is not too late to play – time is ticking.So Umpqua deserves a “thumbs-up” for entering the space! I look forward to watching LocalSpace™ evolve. If anyone can innovate – Umpqua can!
Comments
Judy,
I too agree that it is a step in the right direction but will need a whole lot more to engage. I have enjoyed reading and watching Clay Shirky and some of his thoughts on social media and the important of promise, tools, and bargains. See: http://www.davidzinger.com/social-media-success-promise-tool-and-bargain-666/
David
Posted by: David Zinger | May 30, 2008 01:27 PM