Your SlideShare is downloading. ×
0
Banking Industry North America
Social Media Score Card and Industry Maturity
January 31, 2013
Table of Contents
1. Purpose of Report
2. Research Methodology
3. Report Summary & Highlights
4. Social Media Score Card
5...
Purpose of Report
The purpose of this report is to assess how corporations are effectively using
social media relative to ...
Research Methodology
Our research methodology analyzes data from the four most popular and
largest social media networks: ...
Report Summary
5 © Copyright 2013 Base22 Canada
Early Adopters Bank of America continues to lead the North American bankin...
Report Highlights
From the latest research data as of January 31, 2013, Canada’s top 5 banks are
late majority or laggards...
Report Highlights (continued)
7 © Copyright 2013 Base22 Canada
Bank Rank Jan 2013 Rank Dec 2011 Net Change
Bank of America...
Ranking
Bank of America
CITI
Wells Fargo
Chase Bank
TD Canada Trust
Scotiabank
RBC
US Bank
Bank of Montreal
CIBC
Social Me...
Social Media Industry Maturity – Banking
9 © Copyright 2013 Base22 Canada
ENGAGEDENGAGED
AWAREAWARE
LEADINGLEADING
Laggard...
Social Media Ranking by Platform
Bank Rank Twitter Facebook LinkedIn YouTube
Bank of America 1 3 1 1 2
CITI 2 1 4 2 1
Well...
11
Our Clients
Strategy & Vision Change Management Social Business Transformation Social Media
Digital Marketing Social An...
Edward Wong MBA
12
Edward is a Partner and co-founder of Base22 Canada. As a former KPMG,
Deloitte, PricewaterhouseCoopers...
Upcoming SlideShare
Loading in...5
×

2013 01-31 social media-banking

1,913

Published on

0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
1,913
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
36
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Transcript of "2013 01-31 social media-banking"

  1. 1. Banking Industry North America Social Media Score Card and Industry Maturity January 31, 2013
  2. 2. Table of Contents 1. Purpose of Report 2. Research Methodology 3. Report Summary & Highlights 4. Social Media Score Card 5. Social Media Industry Maturity 6. Social Media Ranking 7. About Base22 2 © Copyright 2013 Base22 Canada
  3. 3. Purpose of Report The purpose of this report is to assess how corporations are effectively using social media relative to their peers in the same industry. In addition, assessing the adoption of social media within an industry will measure the maturity of the market segment in their use of these emerging communication channels. Corporate expenditures for traditional media such as print, television, and radio are rapidly declining as the acceptance of social media becomes more mainstream. Companies need to realign their marketing and communications strategy by targeting their customers and business communities who are increasing their activity on these social networks. Companies failing to realign their marketing and communications strategy by adopting social media will be wasting money on traditional channels where the presence of their targeted market demographics is diminishing. 3 © Copyright 2013 Base22 Canada
  4. 4. Research Methodology Our research methodology analyzes data from the four most popular and largest social media networks: Twitter, LinkedIn, YouTube and Facebook. • Twitter, with over 700 million accounts, was assessed because of its potential use for mass communications to drive market presence and brand awareness. • LinkedIn. LinkedIn has quickly become an important business development capability, brand awareness, and brand advocacy by company employees. • YouTube, with its reputation for spawning viral videos, is increasing its importance as a social media channel to distribute rich visual messaging. • Facebook with over 900 million registered accounts has become the primary channel to drive customer loyalty, brand advocacy, and consumer engagement. The methodology consists of assessing a minimum of 15 publicly available data elements across all four social media channels. Each data element for each company is rated and ranked across the industry. A final balanced score for each company is calculated and ranked among the peers in the industry. 4 © Copyright 2013 Base22 Canada
  5. 5. Report Summary 5 © Copyright 2013 Base22 Canada Early Adopters Bank of America continues to lead the North American banking industry with their balanced social media footprint. BoA focuses not only on one but all of the social media networks and integrates their channels to provide a richer and broader customer engagement experience and online social presence. Early Majority Citi, Wells Fargo, Chase have good initiatives but tend to focus on one or two social media platforms. If they integrated their campaigns across all social channels, they will have a stronger and more balanced online social presence. Late Majority TD, Scotiabank, and RBC appreciate the need to have a social media presence. They have established a basic footprint but need to develop a more integrated and balanced strategy to improve on their social presence, influence, and customer engagement. Laggards US Bank, BMO, and CIBC continue to neglect the benefits of social media and do not see the urgency to provide a social engagement with their customers. Companies in this category will fall further behind their competitors and will have a tougher challenge to establish a competitive social presence as the industry matures.
  6. 6. Report Highlights From the latest research data as of January 31, 2013, Canada’s top 5 banks are late majority or laggards in their adoption of social media. With the exception of US Bank, all of the American banks are early majority or early adopters to social media. The adoption disparity could be related to Canada’s more conservative and risk adverse approach for embracing new technologies. In the last 12 months there were several notable changes for social media adoption in the banking industry. Chase increased their social presence and is ranked 4th moving up from 10th. Scotiabank improved by +3 while RBC dropped by -3 positions. US Bank, BMO, and CIBC all dropped in their last 12 months of social activity by -2, -1, and -3 rankings, respectively. Regardless, social media will continue to have a strong presence in the banking industry for customer engagement, brand advocacy, and consumer loyalty. Banks who fail to capitalize on this technology will isolate themselves from an emerging younger workforce and a socially engaged consumer generation. 6 © Copyright 2013 Base22 Canada
  7. 7. Report Highlights (continued) 7 © Copyright 2013 Base22 Canada Bank Rank Jan 2013 Rank Dec 2011 Net Change Bank of America 1 1 0 CITI 2 2 0 Wells Fargo 3 3 0 Chase Bank 4 10 +6 TD Canada Trust 5 5 0 Scotiabank 6 9 +3 RBC 7 4 -3 US Bank 8 6 -2 Bank of Montreal 9 8 -1 CIBC 10 7 -3
  8. 8. Ranking Bank of America CITI Wells Fargo Chase Bank TD Canada Trust Scotiabank RBC US Bank Bank of Montreal CIBC Social Media Score Card – Banking 8 © Copyright 2013 Base22 Canada LEADING LEADING AWARE AWARE AWAREAWARE AWARE AWARE AWAREAWARE AWARE AWARE AWAREAWARE AWARE AWAREAWARE AWARE AWAREAWARE AWARE AWARE AWARE AWARE AWARE ENGAGEDAWARE ENGAGED ENGAGED
  9. 9. Social Media Industry Maturity – Banking 9 © Copyright 2013 Base22 Canada ENGAGEDENGAGED AWAREAWARE LEADINGLEADING Laggards Late Majority Early Majority Early Adopter Exploring – 1 or no presence and limited customer engagement Emerging – 2 or more presences with minimal customer engagement Collaborating – 3 or more presences with active customer engagement Leading – 4 or more presences with integrated social footprint & customer engagement
  10. 10. Social Media Ranking by Platform Bank Rank Twitter Facebook LinkedIn YouTube Bank of America 1 3 1 1 2 CITI 2 1 4 2 1 Wells Fargo 3 4 2 4 3 Chase Bank 4 5 7 3 7 TD Canada Trust 5 2 10 6 5 Scotiabank 6 9 3 8 4 RBC 7 6 5 5 10 US Bank 8 10 6 7 6 Bank of Montreal 9 7 8 9 8 CIBC 10 8 9 10 9 10 © Copyright 2013 Base22 Canada
  11. 11. 11 Our Clients Strategy & Vision Change Management Social Business Transformation Social Media Digital Marketing Social Analytics Enterprise Portal Web Content Manager UI Widgets Wiki-Blog-Knowledge Management Information Architecture Java/J2EE User Experience Software Development Implementation Systems Integration Project Management Outsource Support & Maintenance Dallas Toronto Phoenix Chicago Monterrey, Houston About Base22 © Copyright 2013 Base22 Canada
  12. 12. Edward Wong MBA 12 Edward is a Partner and co-founder of Base22 Canada. As a former KPMG, Deloitte, PricewaterhouseCoopers and IBM professional, Edward has over 18 years of business and technology consulting experience. Edward has held senior management and strategic leadership positions at his previous companies. Edward brings with him a diverse set of practical skills and client experiences ranging from audit/tax, Enterprise Resource Planning, enterprise portals, content management, social enterprise transformation, social analytics and industry market research. Edward developed the Social Enterprise theory, methodology, and framework. These intellectual assets and thought leadership will enable organizations to quickly and cost effectively adopt social technologies from a strategic position but with manageable tactical execution to realize faster entry into the social business and social media platforms to achieve measurable ROI (influence) and ROE (engagement). Edward’s industry experiences include Banking, Pharmaceutical, Retail, Petroleum & Chemical, Government, and National Defense. www.base22canada.com Twitter @base22canada edward@base22.com © Copyright 2013 Base22 Canada
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×