For Retail Banks, understanding and acting on consumers’ sentiment is vital to restoring trust, delivering customer value and managing brand reputation.
Yet analysing online sentiment trends is inherently difficult. There are 340 million tweets on Twitter every day and numerous blogs, forums, comment boards and newsfeeds. Accurately identifying and interpreting the sentiment relevant to the banking industry, its businesses and brands amidst this ‘noise’ is a challenge that needs to be overcome; while one opinion may not make or break a reputation, with today’s socially connected consumer, one comment can start an escalating trend, resulting in disenfranchised customers, a dented brand, and potentially an impact on the bottom line.
To deliver insight into consumer sentiment, Deloitte Analytics and industry-leading business analytics software firm SAS, have collaborated to develop SentsCheck, an interactive report providing analysis of online sentiment about the retail banking industry.