Indonesia Banking Industry Monthly MarketSight Report

January 2016

1. Methodology

Step 1 STATSIT developed a set of metrics for the analysis of banking industry brands in social media conversations
Step 2 STATSIT Collected N=200 general banking industry postings and N=200 brand specific postings for three leading Indonesian banking brands each
Step 3 STATSIT analysed firstly the data with relevant text mining techniques
Step 4 STATSIT manually coded a sample of N=800 conversations using its SocialWorks method
Step 5 STATSIT analysed the data and derived insights and recommendations out of that
Step 6 The results were visualized in this report

2. Purpose of The Report

  • This report is intended to provide banking industry brands an overview of what the consumers discuss about banks and finances in the social media
  • This information is intended to enable the brands to recognize opportunities and threats on the marketplace as well as help plan their communication strategies
  • The brands are compared against each other to enable benchmarking
  • The focal points of this report are Category, Brand and Audience

3. Summary and Highlights

  • The conversational activity around banking in Indonesia was predominantly driven by the client’s daily experiences. This led to a rather volatile overall image of the brands and allowed a high impact of circumstantial effects.
  • Everyday issues, like problems with the functionality of ATM’s, had a disproportionally large effect in the overall sentiment in the conversations.
  • BCA had the highest share of Fans with 8.5% of the postings indicating some level of personal commitment to the brand.
  • The image of BNI was temporarily stricken by issues regarding i.e. a local promotion. However, the community around BNI still had a stronger acquisition dynamic than the competition due to a higher concentration in purchase driving issues and a high share of postings indicating loyalty of the authors to stay with the brand.

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STATSIT MARKET FAVOURABILITY RANKING: BCA DID BEST IN A CHALLENGING ENVIRONMENT
    Sentiment = The share of positive posts minus the share of negative ones
  • Indonesian consumers were most likely to talk about banks, when they wanted to complain.
  • BCA was the only bank in this environment to achieve even a balanced net rating.
SOURCES OF INFLUENCE AND INFORMATION: SOCIAL COMMUNITIES DID INFLUENCE THEIR MEMBERS
Source of Influence
Source of Information
  • Online social communities were roughly as important sources of influence on the conversation participiants as customer service hotlines or their personal friends.
  • Ads were referred to as sources of information, but other online resources, like company websites, played a bigger role as influencers.
Ecosystem: BCA had the most fans, BNI had good potential
  • Most of the people discussing the three banks were reactives, who mainly commented or shared material about current issues or events
  • BCA had the highest share of authors, who expressed personal commitment to the bank
  • BNI had a high share of both ranters as well as deal and quiz hunters, who might be of little immediate use, but can be converted into loyal positive contributors
NET PROMOTER positioning: High share of fans bca’s strength
  • The high share of fans and the positive sentiment helped BCA to the best net promoter positioning among the three brands observed
  • BNI suffered from a high share of ranters and negative ratings due to the jazz ticket problem, which is likely not to last for a long time

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4. The Full Report

The full report consists of three main chapters:

Please contact STATSIT representative to get access to full report