Financial Services Digital Whitespace Map™ Q3 2022

Measurement Methodology: Audience Attention

1. Define the Audience. For this analysis, we look at the North American (Canada + USA) audience including all ages and genders. Some metrics in the analysis, such as video views, are specific to your industry.
2. Measure the Audience’s Total Attention. Using a variety of marketing intelligence data sources, we measure the Total Number of Video Views, Monthly Active App Users, and Monthly Unique Site Visitors from the audience of your specific industry over the course of the current calendar quarter. This represents the total digital Audience Attention for the purpose of this analysis.
3. Measure Each Platform’s Share of the Attention. From the total number of Video Views, Monthly Active App Users, and Monthly Unique Site Visitors from the audience we determine which social platforms that activity took place on.
4. Revisualize Into a Bar Chart for Analysis. For the purpose of this analysis a bar chart is more effective than a pie chart.

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Measurement Methodology: Competitors’ Focus

1. Define the Competitors. For this analysis, we look at 15 different competitors in the retail banking, investment, and fintech industry such as the Big 5 Canadian Banks, Wealthsimple and Chime.
2. Measure the Competitors’ Total Focus. Using a variety of marketing intelligence data sources, we measure the Total Number of Video Views, Post Cadence, Social Audience Growth, and Social Engagement Volume from the competitors of your specific industry over the course of the current calendar quarter. This represents the total digital Competitors’ Focus for the purpose of this analysis.
3. Measure Each Platform’s Share of the Focus. From the total number of Video Views, Post Cadence, Social Audience Growth, and Social Engagement Volume from the competitors we determine which social platforms that activity took place on.
4. Overlay onto the Audience Attention Bar Chart for analysis. For the purpose of this analysis a bar chart is more effective than a pie chart. We overlay the Competitors’ Focus bar chart over the Audience Attention bar chart to determine whitespace opportunities.

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Key Takeaways

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In Q2 2022, the Financial Services Audience Attention was the highest on TikTok, followed by YouTube and Facebook.

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However, Financial Services Competitors’ Focus is highest on Instagram, TikTok and Twitter. High competitors’ focus on Instagram was driven by Revolut, which gained 19K IG followers and generated 521K engagements and Chime, which gained 56K IG followers and generated 385K engagements in Q2 2022. High competitors’ focus on TikTok was also driven by Revolut, which generated 179K engagements and Chime, which generated 675K engagements in Q2 2022.

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There is whitespace opportunity on YouTube, Facebook, TikTok Pinterest, Snapchat, Reddit and Twitch, where there is high Audience Attention and low Competitor Focus.

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Instagram and Twitter are oversaturated platforms with high Competitor Focus and low Audience Attention.

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Audience Attention is stable for across all platforms with less than a 10% change this quarter.

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Competitor Focus is growing substantially on TikTok and Reddit this quarter.

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Competitor Focus shrank significantly this quarter on YouTube and TikTok.

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Competitors in the Financial Services industry are currently not active on Pinterest, Snapchat, and Twitch.

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Composite metric consists of video views, Monthly Active App Users, and Monthly Unique Site Visitors

Composite metric consists of post cadence, audience growth, engagement volume, organic video views. Competitor’s focus is comprised of the top 14 brands in the FS industry.

Competitors are not active on Pinterest and Twitch. Snapchat data is not available.