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LendingClub Report
 

LendingClub Report

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    LendingClub Report LendingClub Report Document Transcript

    • Ecairn conversation industry influencer report Lendingclub Lending Club Inc. peer-to-peer lending Lending Club Industry Influencer Report P a g e |1 conversation@ecairn.com
    • Table of Contents Background ................................................................................................................................ 3 Scope ......................................................................................................................................... 4 1 – Community Map & Influencer Identification .......................................................................... 5 Top Influencers................................................................................................................... 5 Influencers Map .................................................................................................................. 7 2 - Share of Voice ...................................................................................................................... 8 Number of Mentions ........................................................................................................... 8 Message Pick-Up ................................................................................................................ 9 Sentiment Analysis ........................................................................................................... 10 3 - Share of Mind ..................................................................................................................... 11 People mentioning Lending Club the most ....................................................................... 13 Promoters and Detractors: ................................................................................................ 14 4 – Share of Conversation of P2P Lending Topics ..................................................................... 15 Number of Mentions within the Peer-to-peer Lending Topic ............................................ 15 Breakdown of the Peer-to-peer Lending Topic ................................................................. 16 Presence of Lending Club’s Influencers in the P2P Topic .................................................. 17 About eCairn ............................................................................................................................ 18 Lending Club Industry Influencer Report P a g e |2 conversation@ecairn.com
    • Background The advent of social media has seen the creation of more than 180 million blogs as well as the birth of countless social networking sites and message boards. Individuals in these communities increasingly depend on each another to share information. This shift in emphasis from mainstream media to consumer communities gives rise to a form of marketing called influencer marketing. Influencer marketing is defined as a form of marketing which focuses on specific key individuals or types of individuals who substantially affect the market. The difference today, is that these influencers can be anyone from potential buyers, and industry experts, to independent reviewers and celebrities. Smart marketers understand the critical role influencers have in their industry. Influencers are highly networked within their community and between each other. They are the people prospective customers listen to because they are respected, trusted and usually independent. Influencers are often conduits of a brand’s image, and the best ROI comes from communicating with these movers and shakers. Understanding who they are, how they relate to your brand and working to establish a relationship with any of them is a critical task. eCairn's Industry Influencer Report provides a wealth of data and intelligence coming from those influencers regarding your brand’s, such as: • Share of Voice (How much a brand is mentioned compared to competitors) • Share of Mind (How many influencers mention a brand compared to competitors) • Share of Conversation (How often a brand is referred to along with key industry topics) Lending Club Industry Influencer Report P a g e |3 conversation@ecairn.com
    • Scope The focus of this analysis is the attention experienced by the Lending Club brand in the personal finance community during the period of March 2009 to September 2009. It offers a comparison to the Prosper.com brand in general and more particularly, on the topic of peer-to- peer (P2P) lending. The personal finance community referred to in this document is a collection of 1660 experts & enthusiast bloggers who have ongoing conversations on peer-to-peer lending and other personal finance topics. Twitter, Youtube and other forms of social media were not included in this study. Blog Feeds 1660 Represents over 110k+ relevant conversations over six months Twitter Feeds No Yahoo Q&A No Youtube No Lending Club Industry Influencer Report P a g e |4 conversation@ecairn.com
    • 1 – Community Map & Influencer Identification Influence ranking is determined by cross referencing nodes in target communities and determining how frequently they communicate between one another. This is the first step towards effective influencer marketing. By identifying the influencers and gaining a better understanding of them, marketers can better plan for more purposeful interactions. Top Influencers The table below shows the top 25 influencers in the personal finance community (1660 total). Blog Description http://www.getrichslowly.org Get Rich Slowly - Personal Finance That Makes Cents http://www.freemoneyfinance.com Free Money Finance http://www.thesimpledollar.com The Simple Dollar http://www.consumerismcommentary.com A Personal Finance Blog Since 2003 http://www.bargaineering.com Bargaineering: personal finance blog with anecdotes http://www.thedigeratilife.com Personal Finance and Business in Silicon Valley http://www.wisebread.com Wise Bread | Personal Finance and Frugal Living Forums http://www.fivecentnickel.com personal finance tips @ fivecentnickel.com http://www.budgetsaresexy.com Budgets Are Sexy | Pimpin’ Personal Finance Since 2008 http://www.mightybargainhunter.com Mighty Bargain Hunter http://www.ptmoney.com Make Extra Money, Save More Money, Spend Money Wisely http://www.frugaldad.com A frugal perspective on money, career and family http://www.cashmoneylife.com Money Management, Small Business, Career http://www.ncnblog.com No Credit Needed - Debt Reduction Rocks http://www.mymoneyblog.com My Money Blog - Personal Finance and Investing Blog http://www.freefrombroke.com A Personal Finance Blog for Regular Folks http://www.financialsamurai.com Financial Samurai - Honorable Personal Finance http://www.christianpf.com Financial help blog, debt help and other financial resources http://www.canadianfinanceblog.com The Canadian Source For Personal Finance http://www.mydollarplan.com Retirement, Tax, and Personal Finance Tips http://www.lazymanandmoney.com Lazy Man and Money http://www.bloggingawaydebt.com Blogging Away Debt Our Journey to a Debt-Free Life http://www.moolanomy.com Personal Finance and Money Management Tips http://www.moneyning.com Personal Finance Blog by Money Ning http://www.doughroller.net Money Management and Personal Finance Lending Club Industry Influencer Report P a g e |5 conversation@ecairn.com
    • This graph displays the current community influencer profile for the personal finance community. Each dot on the graph represents a single blog source, with high influencers in dark blue, medium or magic middle* influencers in royal blue and the long tail of influencers in blue light blue/grey There are many more long tail sources which share fewer connections than blue/grey. magic middle and high influencers. It’s possible to locate a specific brand’s blog influence by plugging it into the chart. Notice that both Lending Club and Prosper.com’s blog is not heavily networked with other personal finance blogs and thus have relatively little influence in the community at the time of this study. *The magic middle: while they lack the connections of higher influencers, they often write about niche or topical content and are radically influential to larger communities. Lending Club Industry Influencer Report P a g e |6 conversation@ecairn.com
    • Influencers Map Influencer mapping shows the interconnections within the community. This makes it easier to identify particular influencers who occupy strategic places in the network. The map below displays the connections between the top 25 influencers in one big cluster shown in red. ed This cluster shows increased affinity between the high influence bloggers rather than “sub specialization” or network affiliation. When compared to our other sample reports for Amazon.com and Lancome, one can see that the personal finance community unique in its interconnectedness. Unlike the other reports, the top influencers of this community are very closely knit and communicate with each other frequently. Lending Club Industry Influencer Report P a g e |7 conversation@ecairn.com
    • 2 - Share of Voice Share of voice is defined as the ratio of mentions of a brand in conversations taking place in the greater community. It can be calculated by taking the # of brand mentions divided by the total # of conversations. Share of voice allows marketers to understand how frequently a brand is brought up through conversations within the community. This statistic allows marketers to benchmark their presence against competitors and observe the effectiveness of buzz marketing campaigns. Number of Mentions The following graphs illustrate the volume of conversations with mentions of the Lending Club, Prosper and Wells Fargo brands during the period of March 2009 to September 2009. Graph1 shows the “share of conversation” for these three brands and graph2 displays trend over time. Graph1 Graph2 Lending Club’s share of voice during September 2009 was above Prosper and Wells Fargo’s (605 to 410 and 490 respectively*). This only represented between 0.37% of the overall respectively* personal finance community discussions in April 2009 to 0.62% of the conversations during March 2009. (*)Lending Club and Prosper’s own blogs are not included in this study Lending Club Industry Influencer Report P a g e |8 conversation@ecairn.com
    • Pick- Message Pick-Up Message pick-ups indicate what marketing activities and programs caused an increase in volume of conversations between influencers. This helps determine if news or marketing efforts cause influencers to distribute the intended information or message to their community. Lending Club: • March 25th: Self Directed IRA Introduction: http://www.p2plendingnews.com/2009/03/lending-club-self-directed-ira-retirement-account/ http://www.p2plendingnews.com/2009/03/lending-club-self-directed-ira- retirement- account/ • April 28th: Finovate and Prosper Re-launch in California http://www.lazymanandmoney.com/live-from-finovate-startup-first-demo-session • May 4th: no explanation • September 2nd: partly due to $2500 prize contest http://blog.mortgageinfotoday.com/2009/09/02/news-sign-up-with-lending-club-for-a- chance-to-win-2500 Prosper.com: • April 28th: Finovate and Prosper Re-launch in California http://www.wiseclerk.com/group-news/services/prosper-reopens-for-california-lenders- nationwide-borrowers • July 14th: SEC Registration Is effective http://www.p2p-loans.com/2009/07/prospers-sec-registration-declared.html Lending Club Industry Influencer Report P a g e |9 conversation@ecairn.com
    • Sentiment Analysis Sentiment Analysis is the process of examining individual conversations from influencers and categorizing the content as positive, negative or neutral perspectives on the brand. Note that this applies to all Lending Club personal finance topics concerning the brand, services, corporate image and representatives. Lending Club displayed a sentiment distribution which is quite common to industry competitors. The majority of conversations in the personal finance community, which mention Lending Club, lean towards neutral sentiment. Lending Club also shows a healthy ratio of positive to negative sentiment (7:4)** Notable points of sentiment: • Rise of positive and neutral sentiment towards the end of May due to launch of Service XYZ.** • Short spike of negative sentiment about due to news about competition early June.** *Disclaimer: For the purposes of confidentiality on behalf of Lending Club and its competitors, several figures and names under the section “Sentiment Analysis” have been changed and/or fabricated to protect the privacy of the company. Lending Club Industry Influencer Report P a g e | 10 conversation@ecairn.com
    • 3 - Share of Mind Share of mind is defined by the percentage of influencers who have talked about a brand in a certain time period. It can be calculated by taking the # of sources that mentioned the brand at least once divided by the total # of sources. This metric allows marketers to compare a brand’s visibility in the market to its competitors. Lending Clubs’s SoM is fairly low at 0.04% (77 divided by 1660). However, competitors fall into the same range. The graph below depicts the SoM breakdown by influence tiers and benchmarks Lending Club against Prosper.com. Lending Club had a slightly lower share of mind in the Magic Middle and Long Tail compared to Prosper. Both brands have plenty of opportunities to foster awareness in long tail communities. Lending Club Industry Influencer Report P a g e | 11 conversation@ecairn.com
    • Below is a complete map of all influencers in the community. In this particular case, influencers who have mentioned Lending Club at once in six months are represented by nodes in blue Nodes in red have not mentioned Lending Club in the past six months. Although they blue. do not have a dominant presence, it is clear that Lending Club’s existence in the community is not limited to particular blog clusters and permeates through a large portion of the network. Lending Club Industry Influencer Report P a g e | 12 conversation@ecairn.com
    • People mentioning Lending Club the most eCairn Conversation™ has the ability to identify promoters and detractors and sort their influence level by ranking. Taking this further, analysts can compare a brand to its competitors within the marketplace by calculating the number of posts related to each brand and then rating the sentiment of conversations from positive to negative. The table below shows the influencers who have spoken about Lending Club the most. Influencers have square icons in dark blue Magic Middle in blue and Long Tail in light blue blue, blue. Influencers Magic Middle and Long Tail bloggers Lending Club Industry Influencer Report P a g e | 13 conversation@ecairn.com
    • Promoters and Detractors: Promoters/Detractors are defined as influencers who have mentioned a brand at least five times in a six month period and have left positive/negative sentiment towards the brand in each case. Here is the breakdown of Lending Clubs’s Promoters and Detractors** Magic Middle Influencers Long Tail Promoters 6 24 55 Detractors 1 9 24 Ratio* 6:1 8:3 2:1 *Ratio is Promoters:Detractors (Approx.) : Lending Club’s promoters outweigh its detractors. **Disclaimer: For the purposes of confidentiality on behalf of Lending Club, several figures under the section “Promoters and Detractors” have been changed/fabricated to protect the privacy of the company. Lending Club Industry Influencer Report P a g e | 14 conversation@ecairn.com
    • Conversation of Topics 4 – Share of Conversation of P2P Lending Topics Ownership of a topic (the outcome of positioning) is defined by how many times your brand is mentioned along with the target topic. It can be calculated by taking the # of brand mentions associated with the topic divided by the total # of conversations associated with the topic. So how does Lending Club perform in the peer-to-peer lending topic? Peer-to- Number of Mentions within the Peer-to-peer Lending Topic (Period of March 2009 – September 2009) Both Lending Club and Prosper owned a fair equal share of the peer-to-peer lending topic. Neither has had a significant dominance of the topic over period of this study. Lending Club Industry Influencer Report P a g e | 15 conversation@ecairn.com
    • Breakdown of the P2P Lending Topic Expression clouds allow you to understand the key expressions encountered in P2P discussions from the community. This knowledge should be leveraged in marketing collaterals and digital properties. Note, that eCairn Conversation™ is capable of creating expression clouds in multiple languages. Below is an 'expression cloud' (created by our Expression Explorer) of the most frequent expressions encountered in P2P discussions in the private lending community: Marketers should analyze the complete list of expressions and look for highly relevant words. Below is a more extensive list of the top 100 expressions on P2P lending from Conversation™. The words are ranked from most frequently used to least: 1 to 25 26 to 50 51 to 75 76 to 100 lending credit card debt savings ira lending club good lending companies online loan prosper self directed ira great peer to peer risk market amount peer lending borrow money related service money social lending lending club account consider credit personal loans earn bank account credit card return finance peer lending companies peer-to-peer lending interest rate investors company business borrowers lending club notes enhanced by better well investment savings account feed from ozh p2p loan funds personal add to del.icio.us line of credit credit score new best good credit bank lending club review annualized return credit report time payments option lending club performance account companies lending club ira balance transfer year peer lending site net annualized return fees month better lending sites high rate of return financial site free offer lend money website lending club offers debt roth ira lending club investment lending club investors lenders p2p credit karma cash p2p lending help club and prosper check peer-to-peer lending notes work individuals credit card debt personal finance mutual funds peer loans Lending Club Industry Influencer Report P a g e | 16 conversation@ecairn.com
    • Club’s Presence of Lending Club’s Influencers in the P2P Lending Topic Below is a map of all influencers who mentioned peer-to-peer (P2P) lending in conversations at least five times in a six month period. Blogs that did not mention Lending Club are shown in blue Blogs that mentioned Lending Club in the context of P2P topics are shown blue. in green This sort of overlay allows marketers to see that Lending Club’s presence is still quite reen. diffuse across the sub community and not limited to clusters. Lending Club Industry Influencer Report P a g e | 17 conversation@ecairn.com
    • About eCairn eCairn Inc. is a software technology company, founded in October 2006. We specialize in community and influencer marketing and differentiate by focusing on the question: “Who matters?”. Our motto is: “You can monitor billions of conversations, or listen and engage with people who matter”. eCairn Conversation™ is the best platform for enterprises and marketing/public relations firms that want to map communities, listen and engage with influencers and measure the impact of their engagement. Our headquarters are located in Los Gatos, California; in the heart of Silicon Valley. Our founders have a background in collaborative filtering, linguistics, software development and software engineering at well known companies such as Hewlett Packard, Sun, Xerox, eBay and Motorola. Detailed customized reports specific to your brand(s) and competitor(s) that also include relevant consumer posts and expert analysis are available. Weekly live demos of Conversation™ are available from our website at http://www.ecairn.com Contact us at, conversation@ecairn.com or call (650)388-8962 for more info. Additional acknowledgements: Data comes from eCairn Conversation™, Graphs are built with Touchgraph, Tag clouds are built with Wordle. Lending Club Industry Influencer Report P a g e | 18 conversation@ecairn.com