[January 10, 2018] |
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American Express Leads Financial Services Brands in Social Media Analysis Report; Bitcoin is in Close Pursuit
NetBase,
a global leader in enterprise social analytics, released its 2018
Financial Services Report today. The analysis focused on 55 brands
across the following categories: Banking, Credit Cards, Investment
Banking, Payment Services, Insurance, Internet Lending and
Cryptocurrency. The report uses NetBase themes to look beyond the sheer
volume of conversations, and dive into the emotions and sentiment of
over 142 million social media mentions.
This press release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20180110005399/en/
Top 10 Brand Mention Volume 2017 (Photo: Business Wire)
The top ten brands were American Express (News - Alert), PayPal, Vanguard, Bitcoin,
Goldman Sachs, Ethereum, Samsung Pay, Square, UBS and Visa.
Looking at category trends, Cryptocurrency was responsible for 40
percent of the conversation volume, payment services held 26 percent. It
is interesting to note the meteoric rise of cryptocurrencies in 2017, as
Bitcoin went from average conversation volume to extremely high
conversation volume late last year.
Key findings:
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Bitcoin word association: Whether positive or negative, the
word most associated with bitcoin is 'Risk' by a large margin. Bitcoin
(#4) users are concerned and excited about the risks of investing in
the currency. Money, Investment and Buy were other commonly associated
words.
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People Love Travel Points: American Express (#1) and Visa (#10)
were in the top 10 for all financial brands thanks to a boost in
conversation around point perks. Ameican Express users discuss travel
nearly 4x as much as the general twitter audience.
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"I don't have cash" is no Longer an Excuse: Payment services
are more than companies, they are verbs. Writing IOUs to split dinner
is a thing of the past thanks to PayPal (News - Alert) (#2), Square (#8) and Venmo
(#24). There were over 1.5 million mentions between the three stemming
from people's conversations about friends and eating.
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Investing? There's an App for that: While the traditional
brands like Vanguard (#3) hold the spotlight now, new apps are
starting to challenge their position. New brands like Robinhood (#19),
Wealthfront (#21), and Stash (#48) have been storming up to social
rankings to unseat the traditional retirement savings options. While
they may not have the numbers of mentions, sentiment is higher for
these disrupters. Fintech companies also have an edge with younger
investors, enjoying 5 percent more conversation with those 25-44 than
traditional companies like Schwab and Fidelity.
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Keep it Consistent: While insurance brands only represented 3
percent of the total conversation volume measured in this report, they
comprised the third most passionate category. Insurance companies
found strong responses to their sports sponsorships and commercials,
which consistently drive conversation for insurance brands.
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Money Talks: Like insurance, internet lending is not something
that consumers generally talk about online. Consumers are
listening-and even though there is low conversation volume overall,
customers are still sharing their experiences and stories on social
media. Interest is a common theme, and generally, consumers see
interest rates and fees from these online providers as positive.
"Financial services brands have special relationships with customers,
people need to trust these brands with their money, their hopes and
their dreams" said Paige Leidig, chief marketing officer at NetBase.
"Our data shows consumers are passionate about learning and sharing
financial advice online. Brands that are willing to meet and engage with
their customers are getting ahead."
Read the full NetBase 2018 Financial Services Industry Report here.
Methodology
Indexing and social ranking is an average measure of actual position for
each metric, with the largest, most positive, or most passionate brands
ranking first. Our analysis of brand performance, which ran Dec. 1,
2016, to Dec. 1, 2017, looked at volume of conversation, reach, net
sentiment and brand passion as measured and analyzed through the NetBase
platform.
NetBase used the following metrics for the report:
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Volume of conversation - Overall volume of conversation.
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Reach - Impressions from original tweets posted by a brand and any
replies to or retweets of the brand. This is a measure of "owned"
impressions.
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Awareness - Impressions from all tweets that mention a brand,
excluding those classified as owned tweets. This is a measure of
"earned" impressions.
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Passion Intensity - Indicating how strongly consumers feel about a
brand on a scale of 0-100.
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Net Sentiment - Measuring the overall direction of consumers' feelings
toward a brand on a scale of -100 to +100.
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Brand Passion Index (BPI) - Weighted average of Passion Intensity and
Net Sentiment to represent overall favorability.
About NetBase NetBase is the award-winning social analytics
platform that global companies use to run brands, build businesses and
connect with consumers every second. Its platform processes millions of
social media posts daily for actionable business insights for marketing,
research, customer service, sales, PR and product innovation. NetBase is
a trusted partner to American Airlines, Arby's, Coca-Cola,
Ogilvy, T-Mobile (News - Alert), Universal Music Group, Walmart
and YUM! Brands. Learn more at www.netbase.com
or @NetBase.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180110005399/en/
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