Sahail Ashraf posted on 26 January 2018
January can be a hectic time for banks, building societies and insurers all promoting a variety of financial products, a big part of this is also providing a great service to existing customers.
In this study we’ll look at the UK finance brands who are really keeping their audience happy on Facebook during this key trading period, using advanced Sentiment Analysis ranking functionality in Locowise Leaderboards.
So just like that. The festive period has been and gone faster than you can shout Happy New Year.
For many, the January blues may well have set in, but for brands in the banking, finance and insurance categories, it’s a busy month. Customers are likely to be spending extra time on those all important ‘life admin’ tasks, such as applying for a new account or renewing an insurance policy.
As is now the case for brands in this category, extensive dialogue from customers about their experiences and complex product queries frequent their corporate social media channels both privately and publicly. So it can also be a real challenge to regulate and control this without getting burnt with negative user sentiment if a customer feels frustrated or let down.
Leaderboards are one of the latest additions to our ever evolving feature set here at Locowise. They are ideal for developing comprehensive ‘league tables’ for particular markets and industry categories across Facebook, Twitter and Instagram.
They allow us to rank profiles based on not just top line metrics for Audience, Engagement Volume, Engagement Rate and percentage of paid content, but also allows us to rank by Sentiment and Brand Score.
The Sentiment Analysis functionality in Locowise is some of the most comprehensive in the social media reporting space. Adoption of the VADER Sentiment Analysis technique allows us to trawl millions of textual combinations, emojis and symbols across more than 16 languages and dialects. You can find out more about the model itself and how these scores are quantified in more detail here. So without further ado, here are the top 10 UK Finance Brands that topped our leaderboard for Sentiment Score in January.
Winner: M&S Bank (Banking)
2nd Place: Bought By Many (Insurance)
3rd Place: NS&I Premium Bonds (Savings and Investments)
A variety of a complex customer queries and complaints can easily make social channels a hotbed of negative user generated content for UK banks and building societies. With an influx of customers often gravitating towards a bank’s digital platforms this time of year, one might be forgiven for thinking this is crunch time for those responsible for keeping social media sentiment in check.
But in this study they’ve run away with the gold medal scoring average sentiment score of 70/100.
M&S Bank are seemingly using Facebook as a means to share genuine people-led content, and raise awareness of their corporate social responsibility work.
Simon McCulloch, director at insurance search engine Comparethemarket.com recently noted that January “is very good time for low prices“, as every provider is back in the market, “quoting furiously to get a good start to the year.”
Bought By Many is a refreshing challenger brand in the UK insurance market, offering a members-only service for some of the best domestic and business policies. With an enviable Facebook audience that dwarfs many longer established players, they seemingly wowed their engaged users with a competition every day in the run up to Christmas!
The official Premium Bonds Facebook brand page have established a 52 thousand-strong fan base of thrifty personal savers. In addition, their content plan is full of engaging prize draw orientated content, showcasing key facts and figures pertaining to recent millionaire winners!
The brand wasted no time on New Year’s Day wishing their fans a prosperous 2018!
So there you have it. Locowise Leaderboards have effortlessly summarised the brands delighting UK Facebook users in the UK finance industry the most over the last few weeks, utilising unbeatable proprietary sentiment score ranking.
See where your own brand ranks by trying out the Leaderboard for yourself. For those who would like to dive deeper into more than sentiment, including metrics for audience, engagement, engagement rate, paid spend detection and brand scoring sign up for a free trial of Locowise today.