oye! financial services report
TRANSCRIPT
Produced by OYE! Business Intelligence, LLC
FINANCIAL SERVICES INDUSTRY
HISPANIC CONSUMER ANALYSIS
REPORT FOR FINANCIAL SERVICES
2
Overview:
OYE! listens to consumers in their own space. Where they talk and share decisions online. Our reports deliver insight on what Spanish speaking and bilingual Hispanics have to say about your brand and your competitors. Understanding consumer attitudes towards brands, their products and their marketing efforts provides our clients and partners with insights that inform marketing campaigns across digital channels.
Actionable Insights:
OYE! is a language neutral solution that can analyze conversation in English, Spanglish and Spanish to derive meaning from unstructured social conversation among Hispanics. OYE!’s natural language processing solution is designed not only to identify Hispanics, but to also derive insights marketers can use in planning campaign strategy, messaging and targeting.
DemographicsBuild knowledge of audience age, geography and gender through social conversations.
PsychographicsKnow what those who interact with a brand like, follow and share for use in targeting and content curation.
KeywordsUnderstand the terms most frequently used to guide more authentic content curation and conversation.
Channel InsightsUnderstand both where consumers most favorably interact with your brand as well as where your competitors focus their efforts.
The Solution: Insights derived from social conversation by OYE! can provide key details into Hispanic consumers through their own statements about brands through online conversation. OYE! analyzes that conversation to allow brands to understand different aspects of where their most useful audience segments are. OYE! also provides insights into how to create campaigns tailored to those groups of people.
The Value: Leveraging insights from OYE! drives conversation tailored to the Hispanic consumer where they want it, when they want it and how they want it. The result: Better conversion, lift and engagement resulting from campaigns targeted to the Hispanics most influential over purchasing decisions for your brand.
15%
14%
Table of Contents
Page 3: Conversation Volume
Page 4: Language Use & Gender
Page 5: Geolocation & Sentiment
Page 6: Instagram Topics
REPORT FOR FINANCIAL SERVICES
Post Volume by Channel
3
Conversation Volume
January - December 2014
✦ The top 5 brands in the financial service industry deliver over 75% SOV among US Hispanics.
✦ No brands appear in the top 5 without having dedicated campaigns directed at Hispanics such as during Hispanic Heritage Month.
Conversation among US Hispanics for the financial services industry had strong volumes throughout 2014. Most conversation was led by brands looking to engage Hispanics to build awareness, educate consumers and sell new business.
Blog
YouTube
New York Life has a consistent year long engagement strategy for the Hispanic market.
State Farm dedicates channels on Facebook and Twitter to engaging US Hispanics in Spanish.
Allstate also dedicates channels to US Hispanic engagement, but generates greater organic engagement on Twitter.
MetLife benefits from strong brand awareness through advertising that appeals to Hispanics without being dedicated to Hispanics.
Farmers uses specific campaigns on Facebook designed to deliver engagement among Hispanics at certain key times.
Post Volume by Brand
2565
1163
796
1413
29%
13%
9%
16%
New York Life
Allstate
Metlife
State Farm
1%14%
85%
6%18%
76%
3%
36%
61%
776 9%Farmers
1%17%
82%
2%4%
94%
REPORT FOR FINANCIAL SERVICES
Hispanics also tend to use Spanish more frequently when they generate the content themselves, as opposed to responding to content published by brands or influencers that was previously in English.
Language Use & Gender
4
The 35-44 age demographic is the highest engaged group in the financial services industry, but as the demographics trend to the younger age groups, Hispanic females are more heavily engaged in the conversation.
51%
49%
Female
Male
67%
33%
54%46%
56%
44%51% 49%
70%
30%
18-24 25-34 35-44 45-54 *55+
✦ From 18 -34, Hispanic females tend to engage with the financial industry more on social media.
✦ 25-44, males get more interested and involved in that conversation.
82%
14%
English
Spanish
4%Bilingual
Consumers follow a brand’s lead when it comes to language use.
✦ A large share of online Hispanics are bilingual, but very few use Spanglish in their own posts.
✦ State Farm and Allstate are the only brands with dedicated in-language social media strategy.
Conversation among Hispanics was evenly distributed by gender across the industry.
January - December 2014
REPORT FOR FINANCIAL SERVICES
5
Geolocation, Sentiment & Timing
State Farm
Industry Average
Allstate
New York Life
75
150
225
300
January
February
March
April
May
June
July
AugustSeptember
October
November
December
Conversation spikes exist around Hispanic Awareness Month and during campaigns designed to deliver Hispanic engagement. Pockets of low engagement present opportunities for brands to engage Hispanics in differentiated ways.
Positive
Negative
Neutral
2%
69%
29%
Overall industry conversation sentiment is neutral.
✦ Proactive social media campaigns drive original comments and feedback which is largely positive or negative.
✦ Brand content that is only shared or retweeted is considered neutral sentiment.
The industry has broad reach on social media among U.S. Hispanics. ✦ While typical concentrations on the East and West coasts exist, strong presences were found throughout the Midwest,
Pacific Northwest and South.
January - December 2014
REPORT FOR FINANCIAL SERVICES
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Industry Topics
Agen
cy
Cons
umer
Cam
paig
ns
Jobs
Adve
rtisi
ng
Part
ners
News
Fina
ncia
l Edu
catio
n
Sales
Education
Mix
Internal
Quotes
Agency Breakdown
Consumer Breakdown
Campaigns Breakdown
General
Tips
RitmodeCambio (State Farm)
Purple Purse (Allstate)
WorryFree (State Farm)
Carlos Ponce (State Farm)
Shares
Testimonials
Education
Opinion
General
Sales
Referral
Negative
Not Calculated*
Neutral
Positive
Rese
arch
*When topics drove low conversation volume, a breakdown of sentiment was not included to avoid drawing conclusions due to the possible over-influence of small outlier conversations.
Posts relating to regional agencies lead social media engagement ✦ Campaigns targeted to the Hispanic audience such as Purple Purse and Ritmo De Cambio (State Farm) delivered strong
volumes of conversation with an even greater share of positive sentiment than the agency posts ✦ Most negativity centered on consumers who questioned the message sent to them as well as news articles related to
lawsuits and company policies viewed as unfriendly to foreign-born Hispanics
January - December 2014
REPORT FOR FINANCIAL SERVICES
7
CLIENTS
PARTNERS
CONTACT US
OYE! Business Intelligence 1275 Kinnear Road
Columbus, OH 43212
Natasha Pongonis [email protected]
Rodney Brickl [email protected]