Social Media Banking Audit

Part
01
of ten
Part
01

American Express (2)

In 2019, American Express had an average post engagement rate of 195.1 on Facebook and it published one post per day on Instagram.

The link to the spreadsheet is here.

FACEBOOK

  • American Express posted three to four times a week on average in 2019.
  • It had an average post engagement rate of 195.1, which was calculated as follows: (61 reactions + 40 comments + 14 shares) + (46 reactions + 9 comments + 10 shares) + (48 reactions + 20 comments + 12 shares) + (48 reactions + 30 comments + 8 shares) + (46 reactions + 2 comments + 9 shares) + (47 reactions + 9 comments + 10 shares) + (34 reactions + 18 comments + 5 shares) + (109 reactions + 477 comments + 12 shares) + (106 reactions + 489 comments + 8 shares) + (65 reactions + 157 comments + 2 shares)/10 = 195.1

TWITTER

  • American Express posted one to five times per day on average in 2019.
  • It had an average post engagement rate of 50.1, which was calculated as follows: (31 likes + 6 comments + 8 retweets) + (23 likes + 3 comments + 8 retweets) + (21 likes + 3 comments + 5 retweets) + (17 likes + 3 comments) + (15 likes + 1 comment + 1 retweet) + (15 likes + 3 comments + 1 retweet) + (12 likes + 2 retweets) + (11 likes + 3 comments) + (13 likes + 2 comments + 2 retweets) + (46 likes + 240 comments + 6 retweets)/10 = 50.1

INSTAGRAM

  • American Express published one post per day on average in 2019.
  • It had an average post engagement rate of 1105.1, which was calculated as follows: (1041 likes + 20 comments) + (1054 likes + 16 comments) + (1250 likes + 18 comments) + (1198 likes + 18 comments) + (1515 likes + 6 comments) + (857 likes + 8 comments) + (846 likes + 11 comments) + (823 likes + 10 comments) + (993 likes + 8 comments) + (1348 likes + 11 comments)/10 = 1105.1

LINKEDIN

  • American Express published one post per day on average in 2019.
  • It had an average post engagement rate of 181.5, which was calculated as follows: (113 reactions + 3 comments) + (244 reactions + 5 comments) + (190 reactions + 1 comment) + (60 reactions) + (451 reactions + 7 comments) + (113 reactions + 1 comment) + (216 reactions + 5 comments) + (119 reactions + 1 comment) + (233 reactions + 1 comment) + (52 reactions)/10 = 181.5

YOUTUBE

  • American Express published one video per week on average in 2019.
  • It had an average post engagement rate of 18.3, which was calculated as follows: (19 likes + 7 dislikes) + (20 likes + 2 dislikes + 1 comment) + (2 likes + 2 dislikes) + (59 likes + 13 dislikes + 5 comments) + (10 likes) + (5 likes) + (9 likes) + (5 likes) + (8 likes) + (15 likes + 1 dislike)/10 = 18.3
Part
02
of ten
Part
02

Chime (2)

Chime posted in 2019 on social media an average of 5-6 times per week on Facebook and 1 post per day on Instagram. Full details about the Chime social media audit are available below and within the attached spreadsheet.

Facebook

  • On average, Chime posts approximately 5-6x/week.
  • Its average engagement score is 393.4 [((205 likes + 427 comments)+(34 likes + 62 comments)+(95 likes + 309 comments)+(127 likes + 1100 comments)+(46 likes + 240 comments)+(24 likes + 27 comments)+(47 likes + 230 comments)+(44 likes + 208 comments)+(49 likes + 527 comments)+(34 likes + 79 comments))/10].

Instagram

  • On average, Chime posts approximately 1x/day.
  • Its average engagement score is ‭2,908.4‬ [((1843 likes + 140 comments)+(20800 likes + 230 comments)+(1396 likes + 334 comments)+(635 likes + 68 comments)+(474 likes + 10 comments)+(569 likes + 44 comments)+(517 likes + 19 comments)+(589 likes + 452 comments)+(417 likes + 52 comments)+(480 likes + 15 comments))/10].

Twitter

  • On average, Chime posts approximately 5-6x/week.
  • Its average engagement score is 30.1 [((41 likes + 19 comments)+(11 likes + 7 comments)+(24 likes + 5 comments)+(27 likes + 15 comments)+(8 likes + 8 comments)+(10 likes + 2 comments)+(18 likes + 10 comments)+(17 likes + 34 comments)+(8 likes + 18 comments)+(13 likes + 6 comments))/10].

LinkedIn

  • On average, Chime posts approximately 2-6x/month.
  • Its average engagement score is 100.8 [((26 likes + 0 comments)+(125 likes + 0 comments)+(46 likes + 0 comments)+(226 likes + 13 comments)+(51 likes + 1 comments)+(88 likes + 0 comments)+(144 likes + 4 comments)+(62 likes + 1 comments)+(130 likes + 1 comments)+(89 likes + 1 comments))/10].

YouTube

  • On average, Chime posts 4x/year.
  • Its average engagement score is 64.2 [((15 likes + 0 comments)+(45 likes + 0 comments)+(17 likes + 0 comments)+(39 likes + 3 comments)+(21 likes + 17 comments)+(12 likes + 1 comments)+(64 likes + 12 comments)+(71 likes + 27 comments)+(59 likes + 9 comments)+(181 likes + 49 comments))/10].
Part
03
of ten
Part
03

Square (2)

Square posted in 2019 on social media an average of 2-5 times per week on Twitter and 1 post per day on Instagram. Full details about the Square social media audit are available below and within the attached spreadsheet.

Facebook

  • Square has not updated its Facebook account since September 2016. It only has two posts on its account as well.

Instagram

  • On average, Square posts approximately once a day on this platform.

Twitter

  • On average, Square posts approximately 2-5 times per week on this platform.

LinkedIn

  • On average, Square posts approximately 5-7 times per month on this platform.

YouTube

  • On average, Square posts 2-4 times per month on this platform.

Research Strategy

To determine Square's post frequency in 2019, we determined how many times per day or month Square posted on Facebook, Instagram, LinkedIn, Twitter and YouTube. To determine the average engagement per post, we added the number of likes and comments for 10 posts on each platform and divided this by 10. Below are the calculations for each social media platform.

Instagram average engagement = ((357 likes + 99 comments)+(520 likes + 199 comments)+(384 likes + 17 comments)+(393 likes + 151 comments)+(267 likes + 47 comments)+(380 likes + 93 comments)+(406 likes + 159 comments)+(967 likes + 219 comments)+(233 likes + 35 comments)+(298 likes + 62 comments))/10 = 528.6

Twitter average engagement = ((329 likes + 13 comments)+(161 likes + 2 comments)+(10 likes + 3 comments)+(28 likes + 2 comments)+(21 likes + 4 comments)+(35 likes + 1 comments)+(30 likes + 6 comments)+(389 likes + 38 comments)+(15 likes + 1 comments)+(28 likes + 2 comments))/10 = 111.8

LinkedIn average engagement = ((120 likes + 4 comments)+(131 likes + 3 comments)+(306 likes + 3 comments)+(125 likes + 1 comments)+(149 likes + 3 comments)+(118 likes + 0 comments)+(216 likes + 0 comments)+(293 likes + 8 comments)+(300 likes + 7 comments)+(187 likes + 4 comments))/10 = 197.8

YouTube average engagement = ((25 likes + 1 comments)+(30 likes + 3 comments)+(30 likes + 3 comments)+(29 likes + 1 comments)+(43 likes + 9 comments)+(70 likes + 8 comments)+(23 likes + 2 comments)+(43 likes + 1 comments)+(57 likes + 8 comments)+(10 likes + 2 comments))/10 = 39.8









Part
04
of ten
Part
04

State Farm (2)

State Farm has almost 3 million followers across Facebook, Instagram, Twitter, LinkedIn, and YouTube. Details surrounding 2019 post volume/frequency and the 2019 average engagements per post for each platform is listed in column E of the attached spreadsheet. ​

Facebook

  • State Farm posted an average of 5-6 times a week on Facebook for the last 6 weeks of 2019.
  • Its average engagement per Facebook post for the last 10 posts in 2019 is 1,189.3, calculated as such: (410 likes + 117 comments + 245 shares) + (95 likes + 12 comments + 37 shares) + (350 likes + 42 comments + 243 shares) + (305 likes + 33 comments + 88 shares) + (170 likes + 13 comments + 35 shares) + (4,900 likes + 271 comments + 709 shares) + (87 likes + 5 comments + 23 shares) + (211 likes + 11 comments + 71 shares) + (1200 likes + 348 comments + 709 shares) + (879 likes + 93 comments + 181 shares)/10 = 1,189.3

Instagram

  • State Farm posted an average of 3 times a week on Instagram for the last 17 weeks of 2019.
  • Its average engagement per Instagram post for the last 10 posts in 2019 is 1,662.2, calculated as such: (183 likes + 4 comments) + (227 likes + 9 comments) + (10,700 likes + 26 comments) + (266 likes + 12 comments) + (177 likes + 5 comments) + (198 likes + 1 comment) + (172 likes + 6 comments) + (131 likes + 8 comments) + (4,335 likes + 10 comments) + (148 likes + 4 comments)/10 = 1,662.2

Twitter

  • State Farm posted an average of 7 times a week on Twitter for the last 8 weeks of 2019.
  • Its average engagement per Twitter post for the last 10 posts in 2019 is 22.9, calculated as such: (5 comments + 8 retweets + 10 likes) + (7 retweets + 10 likes) + (5 comments + 5 retweets + 7 likes) + (3 comments + 5 retweets + 6 likes) + (4 comments + 7 retweets + 31 likes) + (2 comments + 10 retweets + 10 likes) + (1 comment + 11 retweets + 29 likes) + (5 retweets + 9 likes) + (5 retweets + 10 likes) + (1 comment + 10 retweets + 13 likes)/10 = 22.9

Linkedin

  • State Farm posted an average of 27 times a month on LinkedIn for the last 3 identifiable months of 2019.
  • Its average engagement per LinkedIn post for the last 10 posts dated a month ago and earlier is 110.5, calculated as such: (107 reactions + 5 comments) + (142 reactions + 6 comments) + (202 reactions + 5 comments) + (140 reactions + 6 comments) + (43 reactions) + (124 reactions + 1 comment) + (61 reactions) + (68 reactions + 1 comment) + (152 reactions + 12 comments) + (30 reactions) /10 = 110.5

Youtube

  • State Farm posted an average of 6 Youtube videos a month for the entire 2019.
  • Its average engagement per Youtube video for the last 10 videos in 2019 is 43.2, calculated as such: (12 reactions) + (13 reactions) + (9 reactions) + (5 reactions + 1 comment) + (18 reactions + 1 comment) + (244 reactions + 22 comments) + (29 reactions + 1 comment) + (7 reactions) + (22 reactions + 2 comments) + (44 reactions + 2 comments) /10 = 43.2
Part
05
of ten
Part
05

Nationwide (2)

Nationwide posted in 2019 on social media an average of 3-4 times per week on Facebook and Instagram. Full details about the Nationwide social media audit are available below and within the attached spreadsheet.

Facebook

  • On average, Nationwide posts approximately 3-4x/week.
  • Its average engagement score is 88.7 [((59 likes + 20 comments)+(126 likes + 4 comments)+(24 likes + 2 comments)+(30 likes + 9 comments)+(25 likes + 2 comments)+(77 likes + 12 comments)+(27 likes + 4 comments)+(145 likes + 12 comments)+(20 likes + 4 comments)+(279 likes + 6 comments))/10].

Instagram

  • On average, Nationwide posts approximately 3-4x/week.
  • Its average engagement score is 121.6 [((59 likes + 3 comments)+(0 likes + 3 comments)+(0 likes + 5 comments)+(0 likes + 13 comments)+(42 likes + 2 comments)+(0 likes + 2 comments)+(134 likes + 1 comments)+(354 likes + 4 comments)+(71 likes + 2 comments)+(516 likes + 5 comments))/10].

Twitter

  • On average, Nationwide posts approximately 1x/week.
  • Its average engagement score is 71.5 [((11 likes + 2 comments)+(16 likes + 2 comments)+(13 likes + 1 comments)+(228 likes + 9 comments)+(64 likes + 2 comments)+(175 likes + 8 comments)+(55 likes + 6 comments)+(26 likes + 4 comments)+(72 likes + 12 comments)+(6 likes + 3 comments))/10].

LinkedIn

  • On average, Nationwide posts approximately 2-5x/month.
  • Its average engagement score is 180.6 [((196 likes + 4 comments)+(689 likes + 12 comments)+(93 likes + 2 comments)+(82 likes + 3 comments)+(94 likes + 6 comments)+(95 likes + 5 comments)+(120 likes + 1 comments)+(204 likes + 3 comments)+(154 likes + 3 comments)+(40 likes + 0 comments))/10].

YouTube

  • Its average engagement score is 149.4 [((13 likes + 2 comments)+(14 likes + 0 comments)+(90 likes + 7 comments)+(511 likes + 86 comments)+(4 likes + 0 comments)+(10 likes + 0 comments)+(690 likes + 13 comments)+(41 likes + 0 comments)+(2 likes + 0 comments)+(7 likes + 4 comments))/10].
Part
06
of ten
Part
06

Progressive (2)

Progressive has an active social media presence with most number of followers on Facebook and highest frequency of posting on Twitter. The post volume/frequency was calculated by looking at the number of postings on each platform over a period of 3 to 4 months and the average engagement per post was calculated by adding the total number of interactions via likes, shares, comments, retweets for ten posts and then dividing the sum by ten. All the findings can be found in column G of the spreadsheet.

FACEBOOK

  • In 2019, Progressive posted on average two or three times every week.
  • The average engagement per post was 163.3 which was calculated as follows: [(83 reactions + 166 comments + 13 shares) + (31 reactions + 33 comments + 27 shares) + (25 reactions + 64 comments + 40 shares) + (343 reactions + 137 comments + 48 shares) + (25 reactions + 46 comments +24 shares) + (20 reactions + 20 comments + 34 shares) + (40 reactions + 79 comments + 57 shares) + (23 reactions + 37 comments + 52 shares) + (33 reactions + 24 comments + 55 shares) + (22 reactions + 19 comments + 13 shares)]/10 = 163.3

INSTAGRAM

  • In 2019, on average, Progressive posted once or twice a week.
  • The average engagement per post was 244.4 which was calculated as follows: [(198 likes + 6 comments) + (184 likes + 5 comments) + (225 likes + 5 comments) + (239 likes + 11 comments) + (191 likes + 4 comments) + (301 likes + 2 comments) + (233 likes + 5 comments) + (324 likes + 6 comments) + (380 likes + 4 comments) + (115 likes + 6 comments)]/10 = 244.4

TWITTER

  • In 2019, on average, Progressive tweeted four to six times a week, sometimes tweeting twice or thrice in a day. This also includes retweets with and without comments, however there are only a few of these.
  • The average engagement per post was 32.2 which was calculated as follows: [(17 likes + 5 retweets + 7 comments) + (23 likes + 25 retweets + 2 comments) + (12 likes + 18 retweets + 1 comment) + (10 likes + 2 retweets + 4 comments) + (35 likes + 13 retweets + 19 comments) + (9 likes + 8 retweets + 2 comments) + (11 likes + 2 retweets + 8 comments) + (11 likes + 12 retweets + 1 comment) + (16 likes + 17 retweets + 2 comments) + (12 likes + 11 retweets + 7 comments)]/10 = 32.2

LINKEDIN

  • In 2019, on average, Progressive posted four to five times a week, with multiple daily postings on some days.
  • The average engagement per post was 264.7 which was calculated as follows: [(111 likes + 4 comments) + (651 likes + 6 comments) + (123 likes + 9 comments) + (30 likes + 2 comments) + (168 likes + 1 comment) + (223 likes + 2 comments) + (67 likes) + (40 likes + 1 comment) + (171 likes + 1 comment) + (1005 likes + 32 comments)]/10 = 264.7

YOUTUBE

  • In 2019, on average, Progressive posted two to five times in a month. During some months, it posted two to three months, while there are also months when it posted nearly eight to nine videos.
  • The average engagement per post was 155.4 which was calculated as follows: [(196 likes + 24 dislikes + 30 comments) + (29 likes + 11 dislikes + 4 comments) + (93 likes + 23 dislikes + 36 comments) + (83 likes + 4 dislikes + 22 comments) + (85 likes + 3 dislikes + 29 comments) + (213 likes + 41 dislikes + 56 comments) + (138 likes + 18 dislikes + 19 comments) + (106 likes + 5 dislikes + 48 comments) + (54 likes + 2 dislikes + 4 comments) + (113 likes + 20 dislikes + 45 comments)]/10 = 155.4


Part
07
of ten
Part
07

SEB (2)

In 2019, SEB posted an average of 5-9 times per week on Twitter. The company has an active social media presence on Facebook and Instagram as well. SEB has high engagement rates on Instagram and LinkedIn, while its engagement rates on other platforms are below 51. All findings are available in column H of the attached spreadsheet and detailed below.

Facebook

  • In 2019, SEB posted two or three times a week on its Facebook account.
  • It had an average engagement rate of 50.5 during the year 2019. [i.e., (35 reactions + 6 comments + 2 shares) + (40 reactions + 10 comments + 13 shares) + (9 reactions + 5 comments + 1 share) + (36 reactions + 2 comments + 7 shares) + (28 reactions + 1 comments + 2 shares) + (16 reactions + 9 comments + 2 shares) + (52 reactions + 11 comments + 22 shares) + (43 reactions + 0 comments + 5 shares)+ (32 reactions + 26 comments +19 shares) + (42 reactions + 14 comments + 15 shares) /10 = 50.5]

Instagram

  • SEB posted three to four times each week on its Instagram account in 2019.
  • It had an engagement rate of 535.8 during that period. [i.e., (86 reactions + 2 comments) + (1090reactions + 0 comments) + (1440 reactions + 2 comments) + (117 reactions + 7 comments) + (125 reactions + 1 comments) + (57 reactions + 0 comments) + (1017 reactions + 1 comments) + (1305 reactions + 3 comments)+ (61reactions + 0 comments) + (44 reactions + 0 comments) /10 = 535.8]

Twitter

  • In 2019, SEB used to post roughly five to nine times per week on its Twitter account.
  • SEB had an engagement rate of 1.5 during that period. [i.e., (0 comments + 0 retweets + 3 likes) + (0 comments + 1 retweets + 1 likes) + (0 comments + 0 retweets + 3 likes) + (0 comments + 1 retweets + 1 likes)+ (0 comments + 0 retweets + 2 likes) + (0 comments + 1 retweets + 1 likes) + (0 comments + 0 retweets + 0 likes) + (0 comments + 1 retweets + 1 likes) + (0 comments + 0 retweets + 1 likes) + (0 comments + 0 retweets + 1 likes)/10 = 1.5]

LinkedIn

  • In 2019, SEB posted an average of seven to ten posts per months on it's LinkedIn account.
  • It had an engagement rate of 155.5 during that period. [i.e., (46 reactions + 0 comments) + (14reactions + 1 comment) + (71 reactions + 0 comments) + (53 reactions + 1 comment) + (83 reactions + 1 comment) + (58 reactions + 0 comments) + (380 reactions + 0 comments) + (74 reactions + 2 comments)+ (221reactions + 5 comments) + (531 reactions + 14 comments) /10 = 155.5]

YouTube

  • In 2019, SEB posted roughly once or twice per month on it's YouTube channel.
  • It had an engagement rate of 1.4 during that period. [i.e., (2 likes) + (3 likes) + (2 likes) + (1 likes) + (3 likes) + (0 likes) + (0 likes) + (0 likes) + (0 likes) + (3 likes)/10 = 1.4]
  • The company has its comments section deactivated.

RESEARCH STRATEGY

To determine the 2019 Post Volume/Frequency for the provided social media platforms of SEB, the team made use of the last 20-50 posts of 2019 and analyzed the average post frequency. As requested, the engagement rate on each platform was calculated by adding the total number of reactions, comments, and shares for the last ten posts on that platform and dividing the results by ten. During our calculation, likes, comments, and shares were given an equal rate.

Part
08
of ten
Part
08

Handelsbanken (2)

Handelsbanken primarily engaged with consumers on YouTube and Facebook in 2019. The details on post frequency and average engagement are available on column I of the attached spreadsheet.

Facebook

  • Handelsbanken posted 44 times in 2019. The bank does not follow a precise pattern but, on average, it posted around two to three times a month. It has an average engagement rate of 167.1 on Facebook.

Twitter

LinkedIn

  • There are several Handelsbanken profiles on LinkedIn, as the bank divides its profiles by country. The official Handelsbanken profile has 10, 930 followers, but only one post, with 652 impressions.
  • The Handelsbanken i Sverige (Handelsbanken in Sweden) profile has 47,439 followers, and posted between three to five times a month, with an engagement rate of 112.9
  • The Handelsbanken in UK profile has an engagement rate of 218.8 and posts at least twice a month for its 16.431 followers.
  • The Handelsbanken i Danmark (Handelsbanken in Denmark) has an engagement rate of 42. The bank posts once a week to an audience of 4, 309 followers.

Instagram

YouTube

  • Handelsbanken post frequency in 2019 was, on average, twice a month, with an engagement rate of 3.5.

Research Strategy

Given the multiple LinkedIn profiles the bank has, the research team located and calculated the engagement rate and frequency of each one. Notwithstanding, the rates provided in the spreadsheet are related to the Handelsbanken profile (not associated with any country).

The engagement rates were calculated by adding the likes and comments of 10 sample posts and then dividing the total by 10. They were as follows (apart from YouTube, the calculations are presented with the total of likes and comments):

YouTube: [(3 likes + 0 comments) + (4 likes + 0 comments) + (3 + 2 comments) + (2 likes +0 comments) + (-2 likes + 0 comments) + (12 likes + 2 comments) + (2 likes + 0 comments) + (1 like + 0 comments) + (1 like + 1 comment) + (4 likes + 0 comments)]/10 = 3.5 (zeros were added to provide clarity)

Facebook: (179 + 111 + 308 + 142 + 118 + 82 + 158 + 427 + 35 + 111)/10 = 167.1

Twitter: (20 + 14 + 15 + 7 + 2)/5 = 11.6

LinkedIn
Handelsbanken i Sverige: (85 + 389 + 55 + 138 + 44 + 48 + 76 + 226 + 34 + 34)/10 = 112.9
Handelsbanken in UK: (330 + 115 + 130 + 92 + 285 + 182 + 281 + 153 + 154 + 466)/10 218.8
Handelsbanken i Danmark: (32 + 43 + 77 + 25 + 44 + 28 + 55 + 46 + 19 + 51)/10 = 42



Part
09
of ten
Part
09

Nordea (2)

Nordea has the highest engagement rate on Linkedin (263.5) and the lowest engagement rate on YouTube (4.6). The company posts most frequently on Twitter (2-3/week) and Instagram (2-4/week). The required metrics have been populated in the attached spreadsheet.

Facebook

  • Post frequency (2019): 1-2/ month
  • Average engagement per post (2019): 106.1

Instagram

  • Post frequency (2019): 2-4/ week
  • Average engagement per post (2019): 157.2
  • Post frequency (2020): 1/ week
  • Average engagement per post (2020): 15

Twitter

  • Post frequency (2019): 2-3/ week
  • Average engagement per post (2019): 10

Linkedin

  • Post frequency (2019): 1-2/week
  • Average engagement per post (2019): 263.5

YouTube

  • Post frequency (2019): 2-3/month
  • Average engagement per post (2019): 4.6

Research Strategy

Nordea has not provided the link to its official Instagram page on its website, unlike for other social media platforms. However, it has country-specific Instagram pages (Norway and Sweden). We used its Instagram Sweden page to determine the engagement rate and frequency for both 2019 and 2020. The sample used for 2020 Instagram metrics is too small -- there are only two posts on Nordea Sweden's Instagram page and none on Nordea Norway's profile.

The triangulation has been done accounting for seasonality -- the sample contains posts from across different months of the year. Calculations for engagements per post and post frequency have been presented in the attached spreadsheet.

Part
10
of ten
Part
10

Swedbank

Swedbank is very active on social media, with most of their efforts seem to be concentrated to LinkedIn and Instagram. Their frequency for 2019 seems very similar to their 2020 frequency on Facebook and Instagram so far. More details can be found in the attached spreadsheet, with calculations detailed below.

LinkedIn

  • In 2020, LinkedIn's average engagement: ((121 likes + 2 comments) + (9 likes) + (45 likes + 1 comment) + (160 likes + 5 comments) + (30 likes) / 5 = (123 + 9 + 46 + 165 + 30)) / 5 = 74.6
  • In 2019, LinkedIn's average engagement: ((107 likes + 4 comments) + (215 likes + 4 comments) + (56 likes) + (26 likes) + (343 likes + 19 comments) + (584 likes + 2 comments) + (18 likes) + (83 likes) + (105 likes + 1 comment) + (272 likes + 3 comments)) / 10 = (111 + 219 + 56 + 26 + 362 + 586 + 18 + 83 + 106 + 275) / 10 = 174.2

Instagram

  • In 2020, Instagram's average engagement: ((586 likes) + (1545 likes) + (264 likes + 2 comments) + (2365 likes + 2 comments) + (152 likes + 5 comments)) / 5 = (586 + 1545 + 266 + 2367 + 157) / 5 = 984.2
  • In 2019, Instagram's average engagement: ((147 likes + 5 comments) + (1228 likes) + (2005 likes + 2 comments) + (199 likes + 7 comments) + (3876 likes + 3 comments) + (413 likes + 3 comments) + (1635 likes) + (2580 likes + 5 comments) + (421 likes + 2 comments) + (264 likes + 26 comments)) / 10 = (152 + 1128 + 2007 + 206 + 3879 + 416 + 1635 + 2585 + 423 + 290) / 10 = 1272.1

Twitter

  • In 2020, Twitter's average engagement: ((3 retweets + 5 likes) + (1 like) + (0) + (1 retweet + 4 likes) + (1 comment + 6 likes)) / 5 = (8 + 1 + 0 + 5 + 6) / 5 = 4.0
  • In 2019, Twitter's average engagement: ((2 likes) + (4 likes) + (1 retweet + 4 likes) + (1 reply + 1 retweet) + (1 reply + 1 retweet + 9 likes) + (2 replies) + (21 replies + 10 retweets + 55 likes) + (3 retweets + 6 likes) + (2 replies + 1 retweet + 3 likes) + (1 like)) / 10 =(2 + 4 + 5 + 2 + 11 + 2 + 86 + 9 + 6 + 1) / 10 = 12.8

Facebook

  • In 2020, Facebook's average engagement: ((17 likes + 8 comments) + (25 likes + 1 comment + 1 share) + (37 likes + 5 comments + 1 share) + (12 likes + 16 comments + 1 share) + (108 likes + 20 comments + 8 shares)) / 5 = (25 + 27 + 43 + 29 + 136) = 260 / 5 = 52
  • In 2019, Facebook's average engagement: ((107 likes + 18 comments + 35 shares) + (48 likes + 9 comments + 1 share) + (24 likes + 1 share) + (124 likes + 15 comments + 11 shares) + (50 likes + 49 comments + 6 shares) + (12 likes + 1 comment + 2 shares) + (153 likes + 9 comments + 2 shares) + (17 comments + 3 shares) + (22 likes) + (22 likes + 2 comments + 1 shares)) / 10 = (160 + 58 + 25 + 150 + 105 + 15 + 164 + 20 + 22 + 25) / 10 = 74.4

YouTube

  • No activity so far in 2020.
  • In 2019, YouTube's average engagement: ((1 like) + (1 like) + (14 likes) + (3 likes) + (38 likes + 9 comments) + (3 likes + 2 comments) + (111 likes + 13 comments) + (3 likes) + 5 likes + 0)) / 10 = 1 + 1 + 14 + 3 + 47 + 5 + 125 + 3 + 5 + 0) / 10 = 20.4

Research Strategy

To get the 2019 post volume and frequency for LinkedIn, we counted the posts starting on the first post one month ago. We did this to get a more even starting point and the fact that the date falling exactly one month ago would be in the middle of December. As there are 26 posts for the month, between 6 to 7 posts per week is the average each week for the month, and calculated as 6.5 (26 posts/4 weeks). For 2020, since 14 days have passed, the posts for the last 2 weeks were counted. The result is 18, which divided by 2 results in an average of 9 per week.

For Facebook, it was easier to get post volume for 2020, as they showed the date that each post was made. The same was done for Instagram as well. For Twitter, we counted tweets by the bank and excluded retweets of other accounts, unless the accounts were owned by the bank. A calendar was used to assist the count of the tweets each week for 2020 and 2019. This was done due to the uneven nature the tweets were posted. For instance, in December, there was a large gap between the 16th and 25th. In order to gain an accurate enough picture, we analyzed the frequency for each week.

For each social media platform, the average engagement was calculated by analyzing the days in January for 2020 and the days in November to December for 2019. For Twitter, we tried to count replies, retweets, and likes for each post. While for Facebook, we tried to count likes (reactions), comments, and shares. For the other platforms, we counted likes and comments.


Sources
Sources