DigitalMR launches first syndicated web listening banking report
- UK banks viewed more positively among customers than US
- HSBC scores most highly among UK banks for Customer Care
LONDON 10th December – online market research company DigitalMR has launched the first syndicated banking report based on web-listening.
DigitalMR, which specialises in web-based market research solutions, was founded earlier this year by MD Michalis Michael. The banking report monitors thousands of customers’ online conversions through comments posted on open-access social media platforms such as Twitter and Facebook, forums, blogs and online stores or e-commerce websites, for US and UK banking services.
Analysis can provide findings such as share of voice, banking features and services and top performing brands. Customer comments are also be classified by sentiment for a wide range of banking services such as: customer care, credit cards, mortgages, employees, fees and charges, loans and online banking.
The report is available on annual subscription with updates provided on a quarterly, monthly or weekly basis.
Latest findings from the last 4 months July – October inclusive, show UK banks are rated more positively than their US counterparts with a Net Sentiment Score* of 23% compared with just 6% for the US.
Customer Care was the most commented on feature in customers’ online conversations regarding services offered by banks. Again UK banks scored more highly in this area, with a Net Sentiment Score (NSS) of +11% for customer care, compared with a NSS of minus 28% for US banks.
Key findings showed that Online Banking was the most positively reviewed feature, achieving a NSS of 54% in the UK and 47% in the US.
Fees and Charges were the most negatively reviewed issue in the UK with a NSS of minus 25% while in the US Mortgage related services was minus 41%. For further data on NSS by feature for US and UK banks see chart below.
Net Sentiment Scores for US banks by Feature
Net Sentiment Scores for UK banks by Feature
For UK banks with the most mentions, HSBC had the highest NSS for Customer Care with 23%. Although Abbey, Alliance & Leicester and Bradford & Bingley have rebranded as Santander, “Abbey” received the lowest NSS for Customer Care in customers’ online conversations, with minus 6%.
UK banks Net Sentiment Scores for Customer Care
Overall Net Sentiment Scores for most mentioned UK banks – October 2010
For the latest 4 months ending October 2010, looking at overall Net Sentiment Scores (combining all features mentioned) Barclays and Halifax were rated highest with 38%, while Abbey was lowest with minus 17%).
1st Barclays Bank 38%
2nd Halifax 38%
3rd HSBC 33%
4th NatWest 25%
5th Lloyds TSB -5%
6th Abbey -17%
Which bank will be viewed most positively next month?. For weekly, monthly or quarterly updates please contact Michalis Michael, below.
*Net Sentiment Scores (NSS) are calculated by taking Positive Mentions minus Negative Mentions, and dividing the result by Total Mentions. Therefore a minus percentage score, means that there were proportionally more negative than positive mentions.
For regular reports and more information:
Michalis A. Michael
tel.: +44 751 571 0370
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