Online reputation management for banks: The lessons learned from BNP Paribas
Even in traditionally more “conservative” industries like banking, monitoring your brand reputation is key. A recent example of the importance of watching your online reputation closely is BNP Paribas. The France-based bank was fined a record sum of almost 9 billion US dollars by the United States for secretly conducting transactions with Cuba, Iran, and Sudan between 2002 and 2009. The fine was heavily discussed and showed clearly how important well-executed crisis communication is for a bank. Negotiations between BNP Paribas and US authorities had been ongoing for some time when a settlement was reached. At the beginning of July, both parties came to an agreement on a fine of 9 billion dollars for BNP Paribas.
When the decision was announced shortly thereafter, search results for the bank spiked. The reach and engagement for BNP Paribas massively exceeded that of its competitors. The brand gained a lot of visibility, but at the same time it was essential to master the crisis without permanent damage to its reputation. A sentiment analysis shows that reactions to the settlement were very different in BNP Paribas’s home country of France than in the United States.
Find the full case study on our Talkwalker Academy
A more detailed analysis of the BNP Paribas case is available for download at the Talkwalker Academy. On our Academy section dedicated to the Financial Industry, you will be able to find not only the complete case study on BNP Paribas and how the investigations and fine influenced its reputation among the online audience of media outlets and social networks. We also take a look at the sentiment and buzz for BNP Paribas and see how the bank performs compared to other finance institutes. And we see how Talkwalker can be used for social media monitoring and social media analytics by setting up the right search queries. Finally, we look at how identifying the most important influencers and filtering search results according to sources like mainstream or industry-specific media can help you create the best communication strategy for your audience.