Social Media And Banks: SME Launches The Conversation Report

by · June 12, 20126 comments

I’m excited to share with you new and exclusive information from Social Media Explorer around social media marketing and the banking industry. The Conversation Report: What Consumers Are Saying About Banking is our first market research product and now available at ConversationReport.com.

This research is unique in that instead of market research in the traditional sense — formal surveys and focus groups of either consumers or brand-side marketers — Social Media Explorer has set about to create a new type of research report. The Conversation Report is an analysis of the millions of unfiltered conversations found in the world’s largest focus group: The Social Web.

The Conversation Report - What Consumers Are Saying About Banking

The Conversation Report from Social Media Explorer

Using social media monitoring tools and advanced online research technology, including the netnographic approach of our partner NetBase with its combination of strengths of net sentiment scoring and passion indexing capabilities, Social Media Explorer analyzed hundreds of thousands of online conversations around banks and bank products. But we didn’t just rely on machine analysis alone. We selected representative samples of our conversation finds for both the top U.S. Banks (according to assets as ranked by the Federal Deposit Insurance Corporation or FDIC) and the top product or service topics mentioned in bank conversations.

By first identifying banking conversations connected to brands, then surfacing topics around their products and services, we were able to re-analyze the overall conversational marketplace by simply looking at those product topics without regard to a particular brand. The double perspective allows us to offer insights and trends in consumer conversations around banks and bank products we are confident have never before been reported in such detail.

As a sneak peek into the report, take a look at the Brand Passion Index of the Top 25 FDIC asset banks.

Brand Passion Index - U.S. Banks

This analysis, provided courtesy of NetBase, shows us that State Street Bank and PNC Bank are clear winners in the online conversation. Customers are both positive and passionate about them. Wells Fargo and Bank of America suffer from negative passion scoring (customers don’t like them and don’t like them a lot), while others like U.S. Bank produce little passion and middle-of-the-road sentiment. This indicates U.S. Bank customers are rather ambivalent about it.

This look at the top banks only scratches the surface of our findings. To see why customers are passionate — or not — about these banks, as well as what insights emerged when we looked closely at conversations about ATMs, customer service and banks, mortgages and home loans, online banking, fees and more, purchase your copy of The Conversation Report now.

What’s Inside The Report

The Conversation Report: What Consumers Are Saying About Banking provides banks and bank marketers with an incredible amount of insight into what people are saying online about banks and bank products. The 112-page report includes the following sections:

  • Section I – Executive Summary and explanation of methodology
  • Section II – The State of Social Media and The Banking Industry; An analysis of the top U.S. banks according to customer conversations; Insights Social Media Explorer gleaned from analyzing conversations about these banks; and Rankings of the top U.S. Banks and their performance on various social networks
  • Section III – What Consumers Are Saying: A detailed analysis of what consumers are saying about banks and bank products online, including the key topics consumers mention and why, where they are having these discussions and verbatim examples of customers mentioning both banks and bank products
  • Section IV – Social Media Explorer’s exclusive recommendations for banks and bank marketers moving into the social media realm and resources for that activity

Ultimately, we know there are other research reports out there around banks and social media. But none that we’ve seen dive into the public conversation and analyze the unfiltered input from bank customers and consumers the way The Conversation Report does. These 112-pages will give your bank, or your agency in its service to banks, a leg up on the competition and on the consumer’s needs.

And, unlike other research reports, this one won’t cost you $2,500 or even $1,000. The Conversation Report: What Consumers Are Saying About Banking is just $497 for an individual license. Agencies and firms may use the information for internal and private presentations so long as the report itself is not shared.

We’re proud to offer these exclusive insights, charts, graphs and research to you. And we’re anxious for your feedback. The Conversation Report only begins here, with banking. Your feedback on the report will help us improve future reports to provide these types of never-before-reported consumer insights.

Get your copy of The Conversation Report: What Consumers Are Saying About Banking now.

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About Jason Falls

Jason Falls

Jason Falls is the founder and chief instigator for Social Media Explorer's blog. He is a leading thinker, speaker and strategist in the world of digital marketing and is co-author of two books, No Bullshit Social Media: The All-Business, No-Hype Guide To Social Media Marketing and The Rebel's Guide To Email Marketing. By day, he leads digital strategy for CafePress, one of the world's largest online retailers. His opinions are his, not necessarily theirs. Follow him on Twitter (@JasonFalls).

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