Provides a Focus on the Credit Card Industry

The Challenge

While connecting with consumers via social channels presents new opportunities for credit card brands, challenges remain in terms of maximizing their social media efforts:

  • Comparing social efforts to others within and across industries
  • Determining which metrics should be tracked in order to ensure consumer satisfaction in social interactions
  • Identifying which tactical efforts have the greatest potential to improve current social approaches
  • Presenting a credible plan to upper management that supports investing in a strong social media strategy
  • Determining which social practices should be implemented and which should be prioritized

The Solution

Scheduled to publish in April 2014, the J.D. Power 2014 Social Media Benchmark StudySM measures consumer satisfaction with companies’ social media efforts. The study explores consumer experiences in social media marketing and servicing interactions with more than 70 brands across the automotive, banking, credit card, wireless service provider, utility, and other industries.1

The 2014 Social Media Benchmark Study enables credit card brands to understand how consumers want to engage with them via social media and where they want credit cards to focus their social efforts.

The Benefits

The study helps the credit card industry understand how consumers want to engage with them via social media and where they want issuers to focus their social efforts. The 2014 Social Media Benchmark Study helps issuers maximize their social media efforts by:

  • Objectively assessing the right social metrics through accurately identifying the key metrics driving positive consumer experiences in both social marketing and servicing interactions; additionally, your company can determine which areas need improvement, as well as identify the tactics that are most likely to enhance their social efforts
  • Capitalizing on competitive positioning by understanding how your brand’s social efforts compare with those of more than 70 brands within and across industries2 and by keeping current on the latest and greatest social best practices
    –– Participating in the 2014 Social Media Benchmark Oversample Survey to field the study survey to your own respondents in order to compare your results to the general study findings3
  • Building a strong social business case using quantifiable data in presentations to senior management that substantiate the value of investing in a strong social strategy
1 This “other industry” category includes actionable social insights used by the following brands known for their social media prowess: Starbucks, Coke, Nike, jetBlue, Amazon, Walmart, Target, Marriott, P&G, and USAA
2 Via the comparison against three tiers of social categorization: high, medium, and low social media performers
3 Clients must sign on by February 14, 2014 to participate in the study Oversample

The credit card brands covered in this study are:

  • Chase
  • Citi Cards
  • Bank of America
  • American Express
  • Capital One
  • Discover
  • U.S. Bank
  • Wells Fargo