2014 Social Media Benchmark Study Oversample

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Provides a Focus on the Credit Card Industry

The Challenge

While connecting with consumers via social channels presents new opportunities for the credit card industry, 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 over 70 brands across the automotive, banking, credit card, wireless service provider, utility, and other industries.1 For credit cards not profiled in the study, J.D. Power offers the J.D. Power Social Media Benchmark Study Oversample allowing for non-profiled credit cards to benefit from all the study insights for their specific brand.

The Benefits

The study Oversample helps credit cards understand how consumers want to engage with them via social media and where they want them to focus their social efforts. It can help subscribers to the Social Media Benchmark Study Oversample 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
  • 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

The Process

The oversample report will be a coordinated research project between individual clients and J.D. Power. The process is as follows:

  • Client must simultaneously sign two agreements by February 14, 2014
    • One agreement for the syndicated 2014 Social Media Benchmark Study to gain immediate access upon the study’s publication date
    • One agreement to participate in the oversample report to initiate the direct fielding immediately
  • Client will provide customer email addresses to J.D. Power upon the sign date
  • Survey fielding will begin when J.D. Power receives the customer email addresses. All sample collected will then be cleaned and analyzed. Thirty responses for each of the social marketing and servicing segments are required to participate in the oversample report
    • In the unlikely event that a minimum 30 responses are not obtained for each of the marketing and servicing segments, the client will NOT be issued an invoice for the oversample portion of signed agreements
  • In April 2014, clients will be able to access the syndicated Social Media Benchmark Study
  • In May 2014, clients will be able to access the full study data set, including syndicated and custom results, and a customized analysis PowerPoint (exact delivery will depend on scheduling of presentation)
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

This Oversample will compare your brand’s results with the following credit card brands included in the syndicated 2014 Social Media Benchmark Study:

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