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Marketing success in banking is highly competitive. It’s hard to differentiate. We identified tactics that could improve customer retention and build positive brand equity.

Our Discoveries

Nichefire’s proprietary metrics for performance and categorization developed an intuitive framework for banking. This framework made it easy to spot the sequence of posting for Huntington and two competitors: Fifth Third and PNC.

Our algorithm determined common post categories with their respective volumes. We found Fifth Third to have the best performance overall. PNC, on the opposite end, stayed conservative with lacking performance, but won customers over with their transparency and quick customer service responses. We identified boosted posts as well as post type and bank services to determine promotions and strategies deployed by different banks.

We revealed audience segments based on customer loyalty and whether or not those users were employees. By doing this, we identified true promoters, recognized personas for the brands, and developed a benchmark for customer retention using social media data.

Overall, our insights for content types and personas gave Huntington new content ideas and marketing strategies.

Conclusions

We discovered big differences between brands in their use of social media.

  • Fifth Third garnered high conversions and directed significant traffic to sales, but risked negative sentiment and brand reputation.
  • PNC leveraged Facebook as a platform for customer support and retention despite a conservative posting strategy.
  • Huntington discovered competitors’ promoted services, strengths, weaknesses and performance of its competitors to refine Huntington’s marketing.
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