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How WesBank Used Brandwatch To Service Customers Optimally During Uncertain Times

WesBank provides instalment, lease and fleet agreements for motor vehicles and business assets. They are able to offer their customers the best possible finance because they are the partner of choice for over 60 leading international brands, including automotive OEMs, insurance providers and oil companies. They are also able to offer leading customer service thanks to their vast industry know-how, digital integrations and by virtue of being a division of the FirstRand Group – Africa’s most innovative financial services provider.

The pandemic presented multiple challenges. WesBank realised that they would need to double down on their social listening efforts in order to keep business afloat. This is where Brandwatch came in handy.

The challenge faced by WesBank before using Brandwatch

The WesBank brand is almost one of its kind with no direct competitor. All other asset financiers in South Africa are either divisions within a large retail bank or, where they are separate entities, they are very much attached to the mother brand. Until recently, even the marketing efforts of these financiers were always part of the bigger entity’s strategy with no independent social media presence. As such, it became very difficult to trace conversations in the vehicle and asset finance space manually or using native tools.

How WesBank used Brandwatch

Brandwatch was used to:

  • Find and analyse conversations around how COVID-19 had affected customers and what their pain points were.
  • Inform the decisions of how to assist customers during the peak of the pandemic.
  • Establish customer frustrations and successes in order to be able to fine-tune the processes (like rolling out the COVID-19 payment relief solutions) accordingly.
  • Listen in on conversations of ‘competitors’ and benchmark COVID-19 relief efforts roll-out against other financiers.

Information WesBank was able to gather through Brandwatch

  • Conversation volumes around payment relief efforts by their brand and competitors.
  • Emerging topics from these conversations.
  • Sentiment on these conversations as well as the major sentiment drivers.
  • Their brand’s share of voice in these conversations.

Results and insights gained

  • The biggest and most common complaint during the peak of COVID-19 was that financiers were taking a long time to confirm whether customers had qualified for payment relief. This spoke to the anxiety of customers during the uncertain times
  • The most dominant sentiment for the payment relief efforts by vehicle financiers was negative. This informed continual fine-tuning of processes
  • The majority of conversations on this topic happened on Twitter and having a Support channel dedicated to customer queries assisted in streamlining the community management

Wesbank was able to achieve its goal of staying abreast with COVID-19 and lockdown regulations’ impact on their customers. Further success was achieved through knowledge about how relief efforts were being received without spending too much time on gathering and analysing this data.

"Brandwatch has enabled us to tailor our social media marketing and communications based on topics that are of interest to our customers. This is not only based on conversations that are directed to us but also conversations in the larger vehicle and asset finance industry."

WesBank plans to use Brandwatch more to track:

  • Their brand reputation
  • Competitor activities
  • Industry conversations
  • Brand mentions
  • Sentiment and sentiment drivers
  • Alerts and management of crises

This will enable WesBank to continually align their social media strategies to insights, in order to serve their customers better and manage their brand reputation as well as managing crises effectively in real time.

If you would like to know more about Brandwatch, reach out to us for a demo of what the platform can do for your organisation, by requesting a demo HERE

__Download case study __

By Lebo Gaoaketse