NEW YORK - How did the top 30 banks react on social media to issues such as various crises, consumer complaints and other issues?
Social media analytics firm Talkwalker said it has some answers after conducting what it said was an in-depth analysis of the U.S. Top 30 financial service brands’ Twitter performance during 2018, based on specific brand and Twitter related criteria to define some winners and losers.
Talkwalker said it used a variety of criteria to determine which brands would score highest in having a large and engaged community, replying to its customers and prospects, and nurturing its share of voice.
The Top Five
Based on those criteria, Talkwalker said the top five brands in the financial services industry for 2018 were:
1. Mastercard
2. PayPal
3. MetLife
4. American Express
5. Prudential Financial
“Like many industries, brands and customers are turning to Twitter to provide fast, effective customer service, with companies that use Twitter as a social care channel reporting a 19% increase in customer satisfaction, according to a 2016 report from Twitter,” Talkwalker said. “Finance brands struggle to build strong audiences on Twitter, when compared to other industries such as technology, fast food or telecoms.”
Most Followed Brands
According to Talkwalker, the most followed brands in the financial services industry include:
1. American Express – 879.3K followers
2. Goldman Sachs – 711.8K
3. PayPal – 580.7K
4. Bank of America – 516.6K
5. Morgan Stanley – 506.4K
6. Merrill Lynch – 500.6K
7. Mastercard – 471K
8. J.P. Morgan – 447.1K
9. Citibank – 388.4K
10. Visa – 371.1K
Overall, the average for the 30 brands is about 270,000 followers, with some brands in the low tens of thousands, Talkwalker said.
“How does this compare to other industries? Visa, for example, has been ranked the 7th most valuable brand in the world. When compared to other similarly valued brands, their 371k followers don’t compare to 6th placed Facebook’s 13.5 million followers, or 8th placed McDonald’s 3.52 million followers,” Talkwalker said.