Newly launched social media monitoring service Engagement Index has begun to oversee the popularity and effectiveness of financial brands in their communications through Twitter.
The site, which was launched by Mark Shaw and Chris Arnold last month, aims to highlight the most effective use of Twitter by brands operating across different sectors and how well they engage with consumers who contact them directly.
Already the site has begun to monitor the effective use of Twitter by supermarkets, utilities and mobile operators.
The first report monitoring banks covers the period 26 February – 1 March, highlights Virgin Money as having the highest score of 91.67 having received and replied to six direct messages. In contrast, Royal Bank of Scotland only received two messages, and failed to respond to either, handing it a score of 0.
“We don’t look at mentions or when someone only refers to the company, explained Shaw as to what the Index counted in terms of brand engagement through Twitter. “If we were looking at Sainsbury’s were would only look at those who contacted the supermarket using @sainsburys. We want people to see people who contact companies using the right Twitter handle, and if they do, then we would expect them to reply.”
Shaw continued; “We then look at if they reply, and how quickly they do so. With our algorithm, the quicker a company replies, then the more points they will get. And if they haven’t replied within two day, then forget it, we’re not interested.”
The first research also found that Halifax received the largest number of direct tweets with 124 over the period, responding to 98 within the two-day period. This saw the brand collect an overall score of 60.8.
The final engagement index graphs for the first period covering Banks can be viewed in the gallery section.