AmEx Gets Most FinServ Brand Buzz — Bitcoin in Hot Pursuit
Americans just want to get away, and their love of travel boosted financial services brands AmEx and Visa into winning brand mention positions for 2017, NetBase announced on Wednesday.
“People love travel points,” reads the research announcement from the enterprise social analytics company. “American Express (No. 1) and Visa (No. 10) were in the top 10 for all financial brands thanks to a boost in conversation around point perks. American Express users discuss travel nearly [for times] as much as the general Twitter audience.”
NetBase says in determining American Express, PayPal, Vanguard, Bitcoin, Goldman Sachs, Ethereum, Samsung Pay, Square, UBS and Visa were the top financial services marketers on social media in 2017, it looked for “themes to look beyond the sheer volume of conversations, and dive into the emotions and sentiment of over 142 million social media mentions.”
For nuts and bolts marketers who aren’t as interested in brand awareness and reputation as metrics, the report also reveals useful SEO clues.
For instance, the NetBase announcement says, “Bitcoin Word Association: Whether positive or negative, the word most associated with Bitcoin is ‘Risk,’ by a large margin. Bitcoin (No. 4) users are concerned and excited about the risks of investing in the currency. ‘Money,’ ‘Investment’ and ‘Buy’ were other commonly associated words.”
In a bit of irony about Bitcoin, the NetBase announcement is housed on BusinessWire, which is a Berkshire Hathaway Company. The same day NetBase made the statement there about its research saying Bitcoin made a strong debut in its brand mention study, “2018 Financial Services Report,” Berkshire Hathaway owner Warren Buffett told CNBC of cryptocurrencies, “I can say almost with certainty that they will come to a bad ending.”
So brand reputation is dynamic. At the same time, CNBC reports of Bitcoin:
Exchange operators such as CME Group and Cboe Global Markets have opened their platforms to allow Bitcoin futures trading.
The price of Bitcoin declined 3.69 percent to $13,907 Wednesday, according to data from industry website CoinDesk. The digital currency is up more than 1,500 percent in the past 12 months.
Buffett's comments came a day after JPMorgan Chase Chairman and CEO Jamie Dimon backpedaled his earlier criticisms of cryptocurrencies. In September, Dimon called Bitcoin a fraud.
Interestingly, the NetBase research advises FinServ brands to keep their marketing consistent.
The announcement states:
“Financial services brands have special relationships with customers, people need to trust these brands with their money, their hopes and their dreams,” said Paige Leidig, [CMO] at NetBase. “Our data shows consumers are passionate about learning and sharing financial advice online. Brands that are willing to meet and engage with their customers are getting ahead.”
One category, insurance, especially needs to earn consumer trust, NetBase finds:
While insurance brands only represented 3 percent of the total conversation volume measured in this report, they comprised the third-most passionate category. Insurance companies found strong responses to their sports sponsorships and commercials, which consistently drive conversation for insurance brands.
What do you think, marketers?
Please respond in the comments section below.