Financial Services Digital Whitespace Map™ Q2 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, Twitter and Facebook. High competitors’ focus on Instagram was driven by PayPal and Chime, which gained 46K and 40K IG followers, in Q2 2022, respectively. Chime generated 1M less video views than PayPal, but drove 450K more engagements. 

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There is whitespace opportunity on YouTube, Facebook, TikTok, Pinterest, 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 growing only on Snapchat by +71% this quarter. 

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Audience Attention shrank this quarter by -38% on Twitter, -20% on Pinterest and -44% on reddit.

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Audience Attention is stable for YouTube, Facebook, Instagram, TikTok, and Twitch with less than a 10% change this quarter.

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Competitor Focus is growing significantly on YouTube, TikTok and Reddit this quarter.

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Competitor Focus shrank significantly this quarter on Facebook.

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Competitor Focus is stable on on Instagram and Twitter with less than a 10% change this quarter.

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