SOURCE: SocialNuggets

SocialNuggets

May 03, 2011 11:04 ET

American Express Maintains Leadership Position in SocialNuggets Top 10 Bank Index

Analyzing Over 300,000 Social Media Conversations, Index Shows JP Morgan Chase and Orchard Bank Had the Most Improvements, With Others Maintaining Their Current Position

SANTA CLARA, CA--(Marketwire - May 3, 2011) - SocialNuggets, previously called Serendio, today released its Bank Insight for Q1 2011. Having analyzed over 300,000 social media conversations, the Bank Insight shows that sentiments have dipped slightly this quarter from Q4 2010 but that most banks maintained their brand presence. American Express maintained its leadership position while JP Morgan Chase increased its net perception score this quarter as well as its share of voice. Orchard Bank also showed the most improvements from last quarter with the company becoming a new entry in the Top 10 SocialNuggets Index.

SocialNuggets' goal is to provide real-time data market intelligence for decision-makers to gauge their competitors, design better products and improve customer service. It is the only comprehensive consumer banking information gleaned from thousands of online consumer statements on various review, blog and social networking sites like Facebook and Twitter. SocialNuggets gathers and analyzes consumer reviews, ratings and statements from a broad range of Web sources to build a picture of the consumer banking experience. Some of the vital areas covered include products and services like credit card, online banking and contribution of sources to sentiments as well as trends for each of the individual banks' products and its peers. SocialNuggets provides a preview of many of its nuggets from Q1 research at http://bit.ly/kYbpWU.

Highlights from the research include the following:

  • Twitter continues to dominate conversations with Investorshub, Creditboards, Ficoforums and Investor Village, making up the other entries in Top 5 sources this quarter. Among these sources, Investorshub has the highest percent of meaningful (positive and negative) sentiments conversations followed by Investor Village with about 85 percent meaningful conversations. Twitter has 36 percent of the conversations that are meaningful. Moreover, there are many bank-initiated tweets and that is why looking at data with and without Twitter is needed to get more accurate picture.

  • Citibank, another co-resident of the "Top-Performing" Quadrant I, showed some improvement when measured without Twitter.

  • Wells Fargo certainly improved its position but stayed in the "Hard-Working" Quadrant II.

  • Bank of America showed a slight decline in its share of voice and net perception score, pushing it to the "Need-Work" Quadrant IV from the "Work-in-Progress" Quadrant III in the last quarter.

  • In addition to Orchard Bank, PNC Bank and TD Bank are also new entries in the Top 10 banks of SocialNuggets.

  • Credit cards actually overtook mortgage conversations for the first time, which is good news for the banks as mortgage is one of the few products with net negative sentiments.

  • Online banking is the product with the most net positive sentiment this quarter but it had some decline from last quarter.

SocialNuggets banking data is available in various forms for researchers, analytics department, marketing, customer service and social media groups working with banks.

About SocialNuggets
SocialNuggets technology delivers real-time market intelligence for fast moving industries by analyzing data from various social media sources with a mission to liberate social media data and sentiment analysis for use in real-time research of brands, products and features. Industry insights are available in bite size, ready-to-consume, intelligently tabulated infographics we call Nuggets, arming professionals with detailed information to make intelligent decisions and forecasts. SocialNuggets was founded in 2011 with headquarters in Santa Clara, CA. For more information, please visit www.SocialNuggets.net.

Contact Information

  • Press Contact
    Katie Lister
    Vantage Communications for SocialNuggets
    Office: 407.767.0452 ext. 229
    Email Contact