Banks' digital presence has been analyzed in Europe, MENA, and India. We’ve analyzed 24 banks in Europe, 14 banks in MENA, and 19 banks in India.
- 67% of European banks are missing necessary information about their business on Google Maps. Moreover, they are also not working with reviews and have lots of unclaimed profiles. That could severely damage their online reputation and third parties would be able to access their Google Maps listings. Thus, European banks have an untapped opportunity to increase their revenues
- Among the 14 biggest MENA banks, 93% are missing crucial information on Google Maps about their businesses, not working with reviews, and have a lot of unclaimed business profiles. Among analyzed regions banking in MENA has the worst digital situation with a huge opportunity to improve overall CX with online maps and review services
- Among Indian banks, only 63% of 19 banks don’t have an appropriate digital presence. Despite the best performance in our analysis, that’s still a huge digital, especially if we would be talking about banks’ branches and ATMs that are missing crucial information and create difficulties for customers to find out working hours or an exact address. In addition to that, lots of banks had been consistently working with not only negative reviews but also with unified branding. Cheers to Indian banks on their online digital presence. However, they still have an opportunity to improve it further
We’re not alone in our findings. According to SOCi LMBR research financial services companies are still trying to establish the local search strategy: “In comparison with other industries, financial services companies need to spend more attention on basic table stakes of local marketing such as profile optimization in search and building an audience on social networks.”
We have been working with banks for a while and we have some expertise in how to take care of their digital presence.
- Increase the number of created routes from online maps by 44%. That brought more potential clients from online maps to offline branches.
- Increase discovery visits by 45%, meaning that ATMs and branches became discoverable not only via their names/addresses but also via their categories
- The number of site visits has increased by 24%
If you would want to get the same results - let us know :) Meanwhile, you can check all our cases here. If you’re curious about our methodology - please review our methodology article here.
If you want to get access to our research data - request it at [email protected]
