Leading financial services firm Morgan Stanley recently began a new recruitment campaign using popular messaging app Snapchat to welcome back students across 19 American universities, a move that has been welcomed by Josh Cote of EAW Consulting.
Morgan Stanley, who provide investment banking, securities, wealth management and investment management services across the globe, attributed their decision to a new focus on innovation across their marketing initiatives. The investment bank has been experimenting with the social media app, a firm favourite among millennials for some time, but this is the first official campaign of its kind for the firm.
EAW Consulting owner Josh Cote believes visual content is often the most revealing, and best-performing content there is, and suggests the move by Morgan Stanley indicates their acknowledgement of the importance of visual content in the recruitment pipeline – a feature Mr. Cote has been promoting for some time.
“Companies need to be constantly looking out for new and innovative ways to reach the best talent of today – irrespective of industry. Social media apps are playing an increasingly important role in the daily lives of people all over the world, so why not channel their use for recruitment?” states Josh Cote.
The entrepreneur and EAW Consulting owner contends that if Morgan Stanley believes their target market are on Snapchat, then that’s where they should be promoting themselves. Indeed, if utilising Snapchat’s video content and geo-filtering allows Morgan Stanley to gain a favourable advantage over their rivals in highly competitive talent pools like universities, then Josh Cote believes they can render their campaign a great success.
However, this is not the first time an investment bank has tried to use Snapchat for leverage at Universities. Back in 2016 JPMorgan rolled out a similar campaign where they targeted graduates with a 10 second advert on the app in a bid to recruit them.
Digital endeavours are no longer the ‘shiny front end’ of an organisation, instead they’re now integral aspects of companies. This is demonstrated best by Morgan Stanley’s use of Snapchat – the 82-year-old global firm still have to use the latest digital advertising techniques to ensure they keep attracting the best talent on the market, and remain as competitive as ever.
Josh Cote has spent the last 9 years identifying underlying problems in businesses, helping them achieve optimum levels of efficiency, and being a catalyst for positive change. He believes that some of the common recruitment problems companies deal with on a daily basis could be solved if they paid closer attention to what their first impression looks like online to prospective employees.
“A strong, unified and attractive presence on digital channels and social media does more for a positive first impression than anything I’ve ever seen,” reaffirms Mr. Cote.