Case Study – Marketing Strategies and Analysis for Chase Bank and Bank of America

Financial sector including banking and other financial services are the focus of this study. JP Morgan Chase was the largest bank operated in United States of America as per the 2009 report by FDIC. Bank of America and Wells Forgo respectively followed it in the ranking.

Chase Bank logo

Chase Bank logo

Website – The site opens up ‘Personal’ page by default. Along with the products and services offered by the bank, there’s also a tab as ‘Why Chase?’ Information under this tab focuses on the stability and strength of the bank, in order to build confidence among the site visitors. Home page also provides information about the expansion of its services, community giving and it proudly posts its lead among the loan lenders. Welcome login box for its existing customers and short information about complementary benefits to attract future customers are all on the same page. In spite of having such abundant information on the home screen, it is simple and neat. Though, the external links to its social media accounts are not seen on the website.

Facebook – The Facebook profile goes by the name of ‘Chase Community Giving’. Except Chase’s logo at a corner, the profile picture mainly focuses on the social cause. Cover page is more elaborative and again only concentrates on the generous reasons. The facebook profile has over 3.8 million likes and over 2.5k people talking about this. Facebook posts are updated once a day or 2. All of these posts are about orphans care, children and animal care, pro green causes, girl’s education, health and medical awareness, voluntary community work and many more social causes. Chase seems to have no hidden or additional purpose behind creating this community. Chase also maintains quite a few other Facebook profiles such as ‘Chase Paymentech’ and ‘Chase Blueprint’ which exclusively focus on respective domains of their business.

Bank of America logo

Bank of America logo

Bank of America maintains only one Facebook account for all their needs. It has only 0.9 million likes and over 24.5K users are talking about this. Financial news, information, guidance, other info regarding use of advanced technological solutions, community services, internal events etc fill up the facebook timeline for BOFA.

Twitter – Chase maintains exclusive account to offer convenient customer service. The left section of the twitter page, which is usually empty, is updated with a photo album that discloses identity of all the officials behind the Customer Service. Each and every customer query is taken care in professional manner and assisted until resolved. All this great support is managed just through a twitter account. Chase also maintains official account by the ‘Chase News’ account. RTs from other communities about complements and other such news articles, Business growth and expansion, charity or donations for social causes and other significant financial news are included in the twits. Images and videos are all about the fun events organized for the Chase employees and sponsored social events. Chase News has little less than 14K followers and Chase Support have little over 13K followers. Similarly BofA also goes by different handles to manage specific aspects of the business. ‘BofA help’ handles the customer queries as efficiently as the Chase bank, but only customer complaints and unsatisfactory twits by the customers were noticed on the time line.

Blog – Despite being such a huge organization that generated over 97 billion dollar of revenue in 2012, Chase bank do not maintain exclusive blog site. In fact when it was googled for the Chase bank blog site the ‘bloggers against Chase bank’ topped the search results.

YouTube – It’s been only less than a couple of years since Chase bank created dedicated YouTube channel of its own and it does not seem to be much active on this platform. It has hardly around 10 videos on the channel and over 0.2 million channel views. While most of them are traditional commercial ads some of them educate customers on how to make use of the advanced technologies to facilitate banking services for their comfort. Bank of America has categorized their video library into commercials, financial education, environment and non-profit organization. BOFA also has almost 5.5 million channel views.

In case, if any one concludes the bank performance based on its customer service public social media time line, Chase Bank is performing noticably better than the Bank of America.

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