The banking industry in Trinidad and Tobago is undergoing a significant digital transformation, driven by the rapid adoption of online services and a shift in consumer preferences. As more customers prioritize convenience and accessibility, it has become essential for banks to have a robust digital presence. This case study aims to evaluate how the leading financial institutions in the country—RBC Caribbean, Scotiabank TT, Republic Bank, First Citizens Bank, and JMMB TT—are performing from a digital marketing perspective. By analyzing their website traffic, traffic sources, and visitor demographics, alongside their social media engagement, we will gain insights into which banks are leading the way in digital customer experience.

The study will not only identify which bank has the strongest digital marketing strategies but will also provide a snapshot of public sentiment and usage patterns across these banks’ digital platforms. With this data-driven approach, we hope to uncover how effectively each bank is adapting to the evolving digital landscape and what opportunities exist for growth and innovation in their online presence.

The Website Data Analytics

This image provides a breakdown of website traffic share among major banks in Trinidad and Tobago for the month of September 2024, which saw a total of 2 million site visits across all the banks.

Breakdown of Traffic:

1. First Citizens Bank:
   • Total visits: 675.7K
   • Share of total traffic: 34.26%
   • Analysis: First Citizens Bank commands the largest share of the market with over one-third of the total traffic. With 675.7K site visits, it is the most visited banking website in the country, showcasing a strong digital presence. This suggests that First Citizens Bank is effectively engaging a large portion of online users, making it the digital leader among Trinidadian banks.
2. Republic Bank:
   • Total visits: 418.9K
   • Share of total traffic: 21.24%
   • Analysis: Republic Bank comes in second with 418.9K visits, capturing 21.24% of the total traffic. Although it’s significantly behind First Citizens, Republic Bank still maintains a strong digital presence with a significant portion of the online traffic. This shows that Republic Bank has an established digital customer base.
3. JMMB:
   • Total visits: 390.2K
   • Share of total traffic: 19.78%
   • Analysis: JMMB follows closely behind Republic Bank with 390.2K visits, representing 19.78% of the total traffic. The nearly 20% traffic share suggests that JMMB is also a key player in the digital banking space, competing effectively in this landscape.
4. Scotiabank TT:
   • Total visits: 372.6K
   • Share of total traffic: 18.9%
   • Analysis: Scotiabank TT garners 372.6K visits, which accounts for 18.9% of the market. Although slightly behind JMMB, Scotiabank remains competitive, with nearly 19% of the online banking traffic. This shows that it still has a sizable digital customer base.
5. RBC Caribbean:
   • Total visits: 65.5K
   • Share of total traffic: 3.32%
   • Analysis: RBC Caribbean, with 65.5K site visits, only captures 3.32% of the total market traffic. This suggests that RBC has a much smaller digital footprint compared to the top four banks. The low traffic volume may reflect less digital engagement or a smaller user base that interacts with their website.
6. CIBC FirstCaribbean:
   • Total visits: 49.3K
   • Share of total traffic: 2.5%
   • Analysis: CIBC FirstCaribbean lags behind with just 49.3K site visits, capturing only 2.5% of the total online traffic. This low percentage indicates that CIBC has minimal online interaction in comparison to its competitors, suggesting there is significant room for improvement in its digital strategy.

Summary:

For September 2024, First Citizens Bank leads the digital space, accounting for 34.26% of all banking website visits, with 675.7K visits. Republic Bank, JMMB, and Scotiabank are closely matched, each capturing between 18% and 21% of the total market share. On the other hand, RBC and CIBC FirstCaribbean trail significantly with only 3.32% and 2.5% of the traffic, respectively, indicating weaker digital engagement. This data highlights that First Citizens is the dominant player in the digital realm, while RBC and CIBC may need to enhance their digital marketing strategies to increase their online presence and capture more traffic.

This image illustrates the traffic distribution for the websites of major banks in Trinidad and Tobago, showing the breakdown of different acquisition channels used by each bank to attract visitors. The channels include Direct, Referral, Organic Search, Paid Search, Organic Social, Paid Social, Email, and Display Ads. Here’s a breakdown of what’s happening for each bank based on the visible traffic acquisition patterns:

1. RBC Caribbean (rbcrboyal…)

• Dominant Channel: Direct traffic appears to be the major source of traffic, meaning that a large number of visitors are typing in the URL directly or using bookmarks.
• Other Channels: There is some visible Referral and Organic Search traffic, indicating that RBC receives traffic from other websites and search engines.
• Minimal Paid Activity: There seems to be little to no reliance on Paid Search or Paid Social, suggesting that RBC is not heavily investing in paid advertising.

2. Scotiabank TT (scotiaban…)

• Dominant Channel: Scotiabank also has a high percentage of Direct traffic, meaning many users are visiting directly.
• Organic Search: There is a noticeable portion of Organic Search traffic, suggesting Scotiabank benefits from search engine visibility.
• Referral Traffic: Scotiabank has less reliance on Referral traffic compared to others.
• Minimal Paid Activity: Similar to RBC, there appears to be minimal Paid Search or Paid Social activity.

3. JMMB

• Dominant Channel: Direct traffic is again the primary source for JMMB, indicating a strong, loyal user base.
• Organic Search: JMMB benefits from a good portion of Organic Search traffic, which means people are finding them via search engines.
• Referral Traffic: Like Scotiabank and RBC, JMMB has some Referral traffic, suggesting partnerships or links from other websites are bringing in users.
• Paid Search: There seems to be minimal usage of Paid Search, showing a preference for organic methods over paid advertising.

4. Republic Bank (republictt…)

• Dominant Channel: Republic Bank also sees a large amount of Direct traffic, demonstrating strong brand recognition.
• Referral & Organic Search: A significant portion of Referral traffic exists, along with Organic Search, meaning they receive substantial traffic from other sites and search engines.
• Paid Search: There is a visible sliver of Paid Search traffic, suggesting some investment in paid advertising to attract visitors.
• Organic Social: Some Organic Social traffic is noticeable, indicating Republic Bank receives visitors from social media platforms without paid ads.

5. First Citizens Bank (firstcitize…)

• Dominant Channel: Direct traffic is the largest channel for First Citizens Bank, meaning most visitors are entering the website directly.
• Organic Search: There is a notable amount of Organic Search traffic, showing First Citizens Bank is benefiting from high visibility in search engine results.
• Referral Traffic: Like Republic Bank, First Citizens Bank also has substantial Referral traffic.
• Paid Search: There’s minimal Paid Search activity, indicating that paid advertising is not a major focus for traffic acquisition.
• Organic Social: There is some traffic from Organic Social, meaning First Citizens gets visitors through social media engagement without needing paid promotions.

Summary:

Across all the banks, Direct Traffic is the dominant source, indicating that users are highly familiar with these banks and are visiting their websites directly, without needing to go through search engines or other channels. Organic Search is another key channel for most of the banks, showing strong search engine optimization (SEO) efforts. However, Paid Search and Paid Social appear to be minimally used across the board, with the exception of Republic Bank, which has a small amount of Paid Search traffic. This suggests that most banks rely on organic methods and direct engagement rather than paid advertising to drive traffic to their websites.

Overall, this breakdown highlights the importance of brand familiarity and search engine visibility for the banks, with only minor investments in paid digital marketing strategies.

My 2 Cents:

The data shows a significant reliance on Direct Traffic across all banks, which reflects a heavy dependence on brand recognition. This means the banks are relying on their established names to drive users directly to their websites. However, this approach limits their ability to capture new audiences or “steal” traffic from competitors. Without an active strategy to drive traffic from other channels, especially through Organic Search, the banks are missing out on opportunities to engage users who aren’t already familiar with their brand.

One key issue is that the banks aren’t producing content that answers the questions people are actively searching for online. When we conduct keyword research to identify the top queries and concerns the public has related to banking, none of the major banks’ websites appear in the results. This is because they haven’t invested in creating informative, search-optimized content that could bring in new visitors.

To improve their digital performance, banks need to diversify their traffic sources by developing strategies that go beyond brand recognition. By focusing on content creation and targeting the key questions and terms people are searching for, they can attract a broader audience and reduce their reliance on direct traffic.

The Audience

This image shows the demographic breakdown of website visitors by age and sex for several banks in Trinidad and Tobago. The data is presented as percentages, comparing the market average with individual bank performance across age groups and gender.

Here’s a breakdown of the audience data for each brand:

1. First Citizens Bank (firstcitizensgroup.com)

• Age Breakdown:
• 18-24: Around average, slightly below the market.
• 25-34: Strong representation, slightly above the market average.
• 35-44: Above average, one of the most engaged age groups for First Citizens.
• 45-54: Also above average, indicating this age group is highly active.
• 55-64: Average or slightly below the market.
• 65+: Slightly below the market average.

Sex Breakdown:

• Male: Below market average, indicating fewer male users.
• Female: Above market average, showing a higher percentage of female visitors.

2. Republic Bank (republictt.com)

• Age Breakdown:
• 18-24: Below average, indicating less engagement from younger users.
• 25-34: Strong representation, around or slightly above the market.
• 35-44: Around average or slightly above.
• 45-54: Matches market average, showing consistent engagement across this age group.
• 55-64: Average, no significant deviation from the market.
• 65+: Above market average, indicating higher engagement among older adults.

Sex Breakdown:

• Male: Slightly below market average.
• Female: Above market average, suggesting a stronger female audience.

3. JMMB (jmmb.com)

• Age Breakdown:
• 18-24: Below average, less engagement from the youngest age group.
• 25-34: Matches or slightly exceeds the market average, showing strong engagement.
• 35-44: Around or slightly above average, good engagement.
• 45-54: Slightly below market, indicating less engagement.
• 55-64: Average, in line with market performance.
• 65+: Around or below market average.

Sex Breakdown:

• Male: Around or slightly below average.
• Female: Slightly above the market average, indicating more female users.

4. Scotiabank TT (scotiabank.com)

• Age Breakdown:
• 18-24: Above market average, indicating strong engagement from younger users.
• 25-34: Matches or slightly exceeds market average.
• 35-44: Slightly below market, suggesting lower engagement in this age group.
• 45-54: Around or below market average.
• 55-64: Matches market average.
• 65+: Slightly below market average.

Sex Breakdown:

• Male: Higher than the market average, indicating stronger male engagement.
• Female: Around or slightly below the market average.

5. RBC Caribbean (rbcrboyalbank.com)

• Age Breakdown:
• 18-24: Below market average, less engagement from younger users.
• 25-34: Below average compared to the market.
• 35-44: Around or slightly below market.
• 45-54: Matches market performance.
• 55-64: Around market average.
• 65+: Matches or slightly exceeds market average, indicating stronger engagement among older adults.

Sex Breakdown:

• Male: Around market average.
• Female: Slightly below market average.

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General Observations:

• Age Groups: The 25-34 and 35-44 age groups dominate across most banks, with strong representation in First Citizens, Republic Bank, and JMMB. Scotiabank sees a higher share of traffic from younger users (18-24), while Republic Bank and RBC have more engagement from older users (65+).
• Gender: Across all the banks, female users tend to be more represented than males, with the exception of Scotiabank, which has higher male engagement. First Citizens and Republic Bank have a particularly strong female audience.

These insights suggest that banks may need to tailor their digital strategies based on the age groups and gender dynamics that engage with their websites the most.

The Overall Demographics of the Landscape

The Social Media Platforms The Audience Uses

This image provides a breakdown of the social media platforms most visited by the market audience, ranking them by the percentage of usage. Here’s a breakdown of each platform and its respective performance:

1. YouTube

• 79.72% of the audience visits YouTube.
• Analysis: YouTube is by far the most popular platform, with nearly 80% of the market engaging with it. This indicates that video content is highly consumed by the audience, suggesting that banks could benefit greatly from creating informative, engaging video content to capture attention on this platform.

2. Facebook

• 62.47% of the audience visits Facebook.
• Analysis: Facebook is the second most visited platform, with a strong 62.47% engagement rate. Facebook remains a key social platform for engaging a broad audience across various demographics, especially for community-building and sharing content.

3. Instagram

• 40.09% of the audience visits Instagram.
• Analysis: Instagram is the third most popular platform, with 40.09% of the audience engaging with it. Instagram’s appeal is likely driven by its focus on visuals and its popularity among younger users. This suggests that banks should prioritize visually appealing and lifestyle-oriented content for their audiences on Instagram.

4. Reddit

• 37.06% of the audience visits Reddit.
• Analysis: Reddit’s engagement stands at 37.06%. Although it’s less popular than the top three platforms, Reddit’s user base is known for engaging in detailed discussions and niche communities. Banks could consider participating in relevant financial threads or communities to offer expert advice and resources.

5. LinkedIn

• 24.94% of the audience visits LinkedIn.
• Analysis: LinkedIn draws in 24.94% of the audience. This platform is particularly valuable for professional networking and business-related content. Banks can leverage LinkedIn to share insights, articles, and updates on services targeting business owners or professionals in finance.

6. TikTok

• 24.24% of the audience visits TikTok.
• Analysis: TikTok has a solid 24.24% engagement rate, reflecting its growing popularity, especially among younger users. While still lower than other platforms, it is a fast-rising social network. Banks may want to explore this platform for short, engaging, and educational content to appeal to a younger demographic.

7. Pinterest

• 18.88% of the audience visits Pinterest.
• Analysis: Pinterest captures 18.88% of the audience, making it less popular than Instagram but still relevant for visually driven content. Banks could use Pinterest to showcase infographics, financial tips, and creative visual content, particularly targeting lifestyle and personal finance.

8. Twitter

• 12.35% of the audience visits Twitter.
• Analysis: Twitter is the least popular of the major social platforms, with just 12.35% engagement. Twitter is often used for real-time updates, customer service, and thought leadership. Banks could consider maintaining a presence for timely news and direct customer interaction but may find better results on the other platforms.

Summary:

YouTube and Facebook dominate the social media landscape in Trinidad and Tobago, with nearly 80% and over 60% of the market visiting them, respectively. Instagram, Reddit, and LinkedIn are mid-tier platforms in terms of engagement, while TikTok, Pinterest, and Twitter see lower but still significant engagement. For banks, this data suggests that focusing on video content (YouTube) and community engagement (Facebook, Instagram) would be the most effective way to capture their audience’s attention.

The Top Cities Searching For Each Brand on Google

In this analysis, I utilized Google Trends to identify the subregions in Trinidad and Tobago where interest in the banks is highest over the past 30 days. The images shows the top cities, where searches for the banks have been most frequent. This type of geographic data is important because it helps us understand where the majority of digital engagement and interest is coming from. Knowing the locations of the users conducting these searches allows the banks to tailor their marketing strategies and resources to regions where there is higher interest, and it helps them identify underserved areas where additional efforts may be needed to boost engagement. This insight into geographic interest can significantly shape targeted campaigns, branch locations, and localized digital strategies.

Social Media Performance Breakdown

Cross-Channel Audience (Total Audience Tracked on all Social Media)

This image illustrates the total number of tracked followers across various social media channels for five major banks: RBC Caribbean, Scotiabank, Republic Bank, First Citizens, and JMMB. Here’s a breakdown of the social media audience for each bank:

1. RBC Caribbean

• Total Audience: 609K
• Breakdown:
  • Facebook: 603,374 followers
  • Instagram: 6,075 followers
• Analysis: RBC Caribbean dominates the social media landscape, with a massive audience primarily concentrated on Facebook. Its Instagram presence is relatively small in comparison, suggesting potential for growth on that platform.

2. Scotiabank

• Total Audience: 223K
• Breakdown:
  • Facebook: 199,138 followers
  • Instagram: 22,167 followers
  • YouTube: 1,770 followers
• Analysis: Scotiabank has a solid presence across Facebook and Instagram, with a smaller but growing audience on YouTube. This cross-channel presence shows that Scotiabank is leveraging multiple platforms, but there is still room for growth compared to RBC.

3. Republic Bank

• Total Audience: 215K
• Breakdown:
  • Facebook: 79,789 followers
  • Instagram: 29,756 followers
  • Twitter: 5,291 followers
• Analysis: Republic Bank has a diversified social media audience, with a strong presence on Instagram and Twitter in addition to Facebook. Its Instagram following is notably larger than some of its competitors, showing effective engagement with visual content.

4. First Citizens

• Total Audience: 115K
• Breakdown:
  • Facebook: 84,878 followers
  • Instagram: 26,421 followers
  • Twitter: 1,983 followers
  • YouTube: 1,530 followers
• Analysis: First Citizens has a balanced distribution across Facebook, Instagram, Twitter, and YouTube, though its total audience size is smaller than some competitors. It has potential to grow its presence further on all platforms.

5. JMMB

• Total Audience: 40.9K
• Breakdown:
  • Facebook: 29,701 followers
  • Instagram: 10,260 followers
  • Twitter: 156 followers
  • YouTube: 726 followers
  • TikTok: 56 followers
• Analysis: JMMB has the smallest total audience across the banks, with the majority of its followers concentrated on Facebook and Instagram. Twitter, YouTube, and TikTok have minimal engagement, indicating opportunities to build a larger presence on these platforms.

Summary:

RBC Caribbean clearly leads in terms of total audience, especially on Facebook, while Scotiabank and Republic Bank maintain strong, well-rounded presences across Instagram and other platforms. First Citizens has a balanced approach but a smaller overall audience. JMMB has the smallest footprint across all platforms, with significant room for growth, especially on Twitter, YouTube, and TikTok. These banks may benefit from refining their platform-specific strategies to increase engagement and follower growth across underutilized channels.

Cross-Channel Posts

This image shows the total number of posts tracked across multiple social media platforms for five major banks: Republic Bank, First Citizens, JMMB, RBC Caribbean, and Scotiabank. Each bank’s post activity is represented along with a comparison to the competitor average of 50 posts, and percentages reflect changes in posting activity. Here’s a breakdown of each bank’s social media posting:

1. Republic Bank (republictt.com)

• Total Posts: 114 posts
• Change: -16.2% compared to previous activity
• Breakdown:
  • Posting heavily across Facebook, Instagram, and Twitter
• Analysis: Republic Bank has the highest number of posts, more than double the competitor average of 50. However, despite the strong posting volume, there has been a slight decline in activity (-16.2%). This shows that Republic Bank is actively engaging on social media, but the decrease could indicate a temporary shift in content strategy or resources.

2. First Citizens

• Total Posts: 44 posts
• Change: +51.7%
• Breakdown:
  • Posting primarily on Facebook, Instagram, and some activity on YouTube
• Analysis: First Citizens shows the most significant growth in posting activity, with a +51.7% increase. Though still under the competitor average of 50 posts, the bank is actively ramping up its content across channels, suggesting a more aggressive social media strategy recently.

3. JMMB

• Total Posts: 23 posts
• Change: -34.3%
• Breakdown:
  • Primarily active on Facebook and Instagram
• Analysis: JMMB’s posting activity has decreased by -34.3%, indicating a reduction in content creation. With just 23 posts, JMMB is well below the competitor average, suggesting that either they are focusing on fewer, more targeted posts, or they may need to reassess their posting strategy.

4. RBC Caribbean

• Total Posts: 19 posts
• Change: -45.7%
• Breakdown:
  • Most active on Facebook and Instagram
• Analysis: RBC Caribbean has reduced its posting volume by nearly half (-45.7%), producing just 19 posts. This decrease may signal a pivot in their social media approach or challenges in maintaining consistent content creation. RBC Caribbean’s posting is well below the competitor average, indicating potential underutilization of social media platforms.

5. Scotiabank

• Total Posts: 16 posts
• Change: -51.5%
• Breakdown:
  • Focused primarily on Facebook
• Analysis: Scotiabank has the lowest number of posts among the banks, with a -51.5% decrease in activity. Posting just 16 times, they are far below the competitor average, indicating a very limited social media presence. This could be due to a change in strategy, less focus on content creation, or a shift in priorities for digital engagement.

Summary:

Republic Bank leads in posting volume, even though its activity has slightly decreased. First Citizens is rapidly increasing its posting efforts, while JMMB, RBC Caribbean, and Scotiabank are significantly reducing their activity, with Scotiabank showing the lowest engagement. The competitor average sits at 50 posts, meaning most banks are underperforming compared to that benchmark, especially RBC and Scotiabank, indicating room for improvement in their social media strategies.

Cross-Channel Engagement Across All Social Media Channels

This image shows the total social media engagement tracked across all platforms for five major banks: Republic Bank, First Citizens, Scotiabank, JMMB, and RBC Caribbean. Engagement is a key metric indicating how well audiences are interacting with the content shared by each bank on social media. Here’s the detailed breakdown and analysis:

1. Republic Bank

• Total Engagement: 11,762 (-40%)
• Breakdown:
  • Facebook: 9,691 engagements
  • Instagram: 2,020 engagements
  • Twitter: 51 engagements
• Analysis: Republic Bank has the highest total engagement across all platforms, but it’s experiencing a significant drop in engagement (-40%). The bulk of its engagement comes from Facebook and Instagram, with Twitter contributing very little. Despite the high engagement overall, the sharp decline indicates that Republic Bank may need to reassess its content strategy to sustain engagement levels, particularly on Twitter.

2. First Citizens

• Total Engagement: 2,403 (+19.9%)
• Breakdown:
  • Facebook: 1,217 engagements
  • Instagram: 1,185 engagements
  • Twitter: 1 engagement
  • YouTube: 0 engagements
• Analysis: First Citizens is seeing positive growth in engagement, up +19.9%. Engagement is nearly evenly split between Facebook and Instagram, showing that both platforms are performing well. However, Twitter and YouTube remain essentially unused, with almost no interaction on these platforms. The growth indicates that their current content strategy on Facebook and Instagram is working, but there may be opportunities to expand their presence on other platforms.

3. Scotiabank

• Total Engagement: 1,100 (+7.53%)
• Breakdown:
  • Facebook: 47 engagements
  • Instagram: 1,053 engagements
  • YouTube: 0 engagements
• Analysis: Scotiabank has shown slight growth in engagement, increasing by +7.53%, but nearly all of its engagement is concentrated on Instagram. Facebook sees minimal activity, and YouTube has no engagement. While Instagram is clearly a strong platform for Scotiabank, the low engagement on Facebook suggests they could improve their efforts there to better engage their audience on multiple fronts.

4. JMMB

• Total Engagement: 797 (-43.4%)
• Breakdown:
  • Facebook: 226 engagements
  • Instagram: 549 engagements
  • Twitter: 0 engagements
  • YouTube: 0 engagements
  • TikTok: 22 engagements
• Analysis: JMMB is seeing a -43.4% decline in engagement, showing significant losses. Most of its engagement comes from Instagram, followed by Facebook. There is almost no engagement on Twitter, YouTube, or TikTok, where they appear to have very limited activity. This suggests that JMMB needs to reassess its content strategy and explore ways to re-engage its audience, particularly on underutilized platforms like TikTok, which has some potential for growth.

5. RBC Caribbean

• Total Engagement: 759 (-54.6%)
• Breakdown:
  • Facebook: 366 engagements
  • Instagram: 393 engagements
• Analysis: RBC Caribbean has experienced the steepest decline in engagement, down by -54.6%, indicating a major issue with maintaining audience interaction. Engagement is split relatively evenly between Facebook and Instagram, but both platforms are underperforming compared to other banks. This steep decline suggests that RBC Caribbean needs to significantly revamp its social media strategy, perhaps by refreshing content or better targeting its audience.

Summary:

Republic Bank leads the engagement race but is seeing a major decline, while First Citizens and Scotiabank are experiencing growth, with First Citizens showing particularly strong performance. JMMB and RBC Caribbean are struggling, both seeing significant drops in engagement. Instagram appears to be the most effective platform for Scotiabank and JMMB, while Facebook drives most of the engagement for Republic Bank and First Citizens. To improve overall performance, banks like RBC Caribbean and JMMB may need to revisit their strategies to boost engagement, particularly on platforms like TikTok and YouTube, where engagement is currently minimal.

Cross-Channel Engagement Total / Post

This image represents the average number of interactions per post across social media platforms for five major banks. The competitor average is 58.1 interactions per post. Here’s a breakdown of the data for each bank:

1. Republic Bank

• Average Interactions per Post: 103
• Change: -28.4%
• Analysis: Republic Bank leads in terms of interactions per post, with an impressive average of 103 interactions per post. However, it has seen a significant decline of -28.4%. While their engagement per post remains strong, the drop suggests they need to focus on maintaining or growing their interactions, perhaps by refining their content or increasing the consistency of engagement.

2. Scotiabank

• Average Interactions per Post: 68.8
• Change: +122%
• Analysis: Scotiabank has experienced a massive improvement in interactions, increasing by +122% to 68.8 interactions per post. This impressive growth suggests that their content is resonating well with their audience, and their engagement per post has surpassed the competitor average of 58.1. This indicates that their recent content strategy is proving highly effective.

3. First Citizens

• Average Interactions per Post: 54.6
• Change: -21%
• Analysis: First Citizens has an average of 54.6 interactions per post, which is just under the competitor average of 58.1. The bank has seen a decline of -21%, indicating that they may need to revamp their content to engage users more effectively. Although their performance is relatively strong, they are falling behind the competitor average.

4. RBC Caribbean

• Average Interactions per Post: 39.9
• Change: -16.4%
• Analysis: RBC Caribbean is underperforming with 39.9 interactions per post, which is significantly below the competitor average. The -16.4% decline suggests that RBC needs to improve its content or engagement strategy to attract more interactions. Their current level of interaction indicates that their posts are not resonating with the audience as well as other banks.

5. JMMB

• Average Interactions per Post: 34.7
• Change: -13.8%
• Analysis: JMMB has the lowest average interactions per post at 34.7, showing a -13.8% decline. This figure is well below the competitor average, indicating that JMMB is struggling to generate engagement with its content. They will need to reconsider their content approach and explore new ways to engage their audience more effectively.

Summary:

Republic Bank has the highest average engagement per post but is experiencing a significant decline in interaction. Scotiabank stands out as the biggest improver, with a substantial increase in engagement, making them the best-performing bank relative to the competitor average. First Citizens, RBC Caribbean, and JMMB all have lower-than-average engagement and have seen declines, signaling a need for these banks to improve their strategies to drive more interactions per post.

Cross-Channel Applause

This image highlights the cross-channel applause metric, which includes likes and reactions across all social media platforms such as Facebook, Instagram, Twitter, YouTube, and TikTok. Here’s a breakdown of the applause engagement for each bank:

1. Republic Bank

• Total Applause: 9.54K
• Change: -37%
• Analysis: Republic Bank continues to lead in applause engagement, with a significant 9.54K total likes/reactions. However, the -37% drop shows a notable decline in the number of likes they are receiving. Despite their dominance, this decrease could indicate a loss of interest or reduced content performance over time.

2. First Citizens

• Total Applause: 2.09K
• Change: +28.3%
• Analysis: First Citizens shows strong growth in applause engagement, with a +28.3% increase, totaling 2.09K. This suggests their content is increasingly resonating with their audience, particularly on platforms like Facebook and Instagram, where likes and reactions are more common.

3. Scotiabank

• Total Applause: 1.07K
• Change: +14.2%
• Analysis: Scotiabank has experienced moderate growth in applause engagement, increasing by +14.2% to 1.07K likes/reactions. This steady improvement indicates that their content is starting to attract more attention and positive responses from their audience.

4. JMMB

• Total Applause: 723
• Change: -43.9%
• Analysis: JMMB has seen a steep decline of -43.9% in applause engagement, dropping to 723 likes/reactions. This significant reduction suggests that their content is failing to capture attention, and they may need to revisit their social media strategy to better engage users.

5. RBC Caribbean

• Total Applause: 661
• Change: -54%
• Analysis: RBC Caribbean has the smallest applause total, with 661 likes/reactions, and has seen the steepest decline at -54%. This sharp drop suggests a substantial decrease in engagement with their content, which may indicate that it is not resonating with their audience.

Summary:

While Republic Bank still leads in total applause engagement, it is experiencing a notable decline. First Citizens and Scotiabank show growth in likes/reactions, indicating improved engagement with their content. On the other hand, JMMB and RBC Caribbean are seeing significant decreases, which suggests that their content strategies may need revision.

It’s important to note that likes (or applause) are among the lowest-weighted metrics in social media analytics. Although they provide some indication of audience engagement, they don’t carry as much weight as other metrics like shares, comments, or overall interaction. These other forms of engagement often signal deeper connection or impact with content. Therefore, while likes are a helpful indicator, they do not alone determine whether a piece of content is truly successful on social media.

Cross Channel Conversation

This image shows the cross-channel conversation engagement, which tracks the number of comments left on posts across various social media platforms like Facebook, Instagram, Twitter, YouTube, and TikTok. Here’s a detailed breakdown and analysis of the conversation metrics for each bank:

1. Republic Bank

• Total Comments: 1.25K
• Change: -64.1%
• Analysis: Republic Bank leads in conversation engagement with 1.25K comments, but it has experienced a dramatic drop of -64.1%. While Republic Bank still maintains the highest volume of comments, this steep decline indicates a potential issue in content resonance or reduced engagement from their audience, despite the high posting activity.

2. First Citizens

• Total Comments: 185
• Change: -33.7%
• Analysis: First Citizens is the second-highest in conversation engagement with 185 comments, but it has also seen a significant decrease of -33.7%. While this is a smaller drop compared to Republic Bank, the numbers are still quite low considering the overall posting activity of the brand. This suggests First Citizens might need to focus more on fostering conversation through its content.

3. RBC Caribbean

• Total Comments: 43
• Change: -39.4%
• Analysis: RBC Caribbean has garnered only 43 comments, and it has also seen a -39.4% decline. This low level of conversation engagement indicates that the bank’s content is not sparking much dialogue or interaction, which is a concern considering their overall posting levels.

4. JMMB

• Total Comments: 39
• Change: -47.3%
• Analysis: JMMB has received 39 comments, reflecting a -47.3% drop in engagement. Like RBC Caribbean, JMMB’s conversation levels are quite low, signaling a lack of engaging content that encourages users to leave comments or interact beyond likes.

5. Scotiabank

• Total Comments: 29
• Change: -67.4%
• Analysis: Scotiabank is at the bottom with just 29 comments, and it has experienced the largest decline at -67.4%. This drastic drop, combined with the low number of total comments, highlights a significant issue with their content’s ability to foster engagement and conversation.

Summary:

Comments are a key indicator of audience engagement and hold significant weight in social media algorithms, often serving as a measure of whether content is sparking meaningful interaction. Despite the importance of comments, these numbers are quite low across all the banks, especially when considering how frequently these brands are posting. Even Republic Bank, with the highest number of comments at 1.25K, has seen a sharp decline of -64.1%, suggesting the content may not be performing as well as it could.

Given the poor conversation levels across the board, these brands need to focus on creating more engaging content that encourages discussion and feedback from their audiences. This will not only boost their engagement numbers but also improve their content performance in social media algorithms, leading to better visibility and reach.

Cross Channel Amplification

This image displays the cross-channel amplification metric, which tracks the total number of shares and retweets across social media platforms like Facebook, Twitter, and TikTok. Here’s a detailed breakdown of the amplification metrics for each bank:

1. Republic Bank

• Total Shares: 977
• Change: -1.41%
• Analysis: Republic Bank leads in amplification with 977 shares/retweets, but the slight -1.41% decrease shows that they are maintaining their current performance level with little change. Despite being the leader, the number of shares is still quite low given their posting frequency, indicating that the content may not be resonating enough to drive viral sharing.

2. First Citizens

• Total Shares: 124
• Change: +31.9%
• Analysis: First Citizens shows a +31.9% increase in amplification, with 124 total shares/retweets. Although the growth is positive, the overall number is still very low compared to Republic Bank, suggesting that while their content is improving, it still lacks the shareability factor that leads to higher levels of amplification.

3. RBC Caribbean

• Total Shares: 55
• Change: -66.5%
• Analysis: RBC Caribbean has seen a steep -66.5% decline in shares, with only 55 shares/retweets in total. This significant drop indicates that their content is not encouraging audiences to share, pointing to a need for a more engaging or valuable content strategy.

4. JMMB

• Total Shares: 35
• Change: -20.5%
• Analysis: JMMB has recorded just 35 shares, and they’ve experienced a -20.5% decrease. These low numbers suggest that JMMB’s content is not resonating with audiences enough to be worth sharing, which is a key issue when it comes to expanding their reach on social media.

5. Scotiabank

• Total Shares: 4
• Change: No change shown
• Analysis: Scotiabank has the lowest amplification, with only 4 shares/retweets. This extremely low level of amplification suggests a serious lack of engagement, and their content is not viewed by audiences as worth sharing. This represents a major gap in their social media strategy.

Summary:

These amplification numbers are remarkably low across the board, pointing to the fact that the content being created by these banks isn’t seen as worth sharing in the eyes of the audience. Sharing is equivalent to virtual word-of-mouth, and shares carry some of the highest weight in terms of content performance on social media. If users are not sharing content, it signals that the content lacks value, novelty, or relevance to the audience.

Given that shares have a significant impact on content visibility and reach, these numbers suggest that the overall social media strategies of these banks need to be rethought. For content to be shared, it must provide enough value or appeal to inspire audiences to spread it within their networks. Without this amplification, these banks are missing out on a crucial opportunity to expand their influence and engagement across social media platforms.

The Top Posts in The Last 30 Days

Engagement Rate per Follower is a metric that measures the percentage of followers who interacted with a specific post. It is calculated by dividing the total number of interactions (likes, comments, shares) by the total number of followers for that account on the platform and expressing it as a percentage. This is a more accurate measure of how well a post resonates with the audience, as it considers the size of the following rather than just raw engagement numbers.

What This Image Represents:

This image shows the top-performing social media posts from different banks over the past 30 days. While the raw interaction numbers are important, the key metric here is the Engagement Rate by Follower, which provides a better understanding of how each post performed relative to the number of followers the bank has on the platform. For example, a post with a large number of interactions but a low engagement rate suggests that, while it attracted attention, it did not engage a large percentage of the audience. This image helps us identify not just which posts received the most interactions but which posts had the most meaningful engagement relative to their audience size.

Activity and Engagement Numbers

This image provides a snapshot of Activity & Engagement for five banks, breaking down their number of posts and engagement rate per follower.

Key Metrics:

• Posts in Period: The number of posts each bank published during the specified period.
• Engagement Rate: This measures how many of the total followers interacted with posts, expressed as a percentage of followers.

Breakdown:

1. JMMB:

• Posts: 23 posts
• Engagement Rate per Follower: 0.20%
• Analysis: JMMB leads in engagement rate per follower, with 0.20%, despite having fewer posts than some competitors. This suggests their content is resonating more with their audience in terms of interactions, even though they posted less frequently than banks like Republic Bank.

1. First Citizens:

• Posts: 44 posts
• Engagement Rate per Follower: 0.12%
• Analysis: First Citizens has a healthy engagement rate of 0.12%, which indicates that their content is connecting well with their audience. They posted almost double the number of times compared to JMMB, which shows a more aggressive content strategy.

1. Republic Bank:

• Posts: 114 posts
• Engagement Rate per Follower: 0.093%
• Analysis: Republic Bank posted the most content, with 114 posts, but their engagement rate per follower is relatively low at 0.093%. This suggests that while they are active on social media, their content may not be driving high engagement relative to their audience size.

1. Scotiabank:

• Posts: 16 posts
• Engagement Rate per Follower: 0.070%
• Analysis: Scotiabank posted the least amount of content (16 posts) and has a low engagement rate of 0.070%. This suggests they are both underposting and struggling to engage their audience effectively with the content they are sharing.

1. RBC Caribbean:

• Posts: 19 posts
• Engagement Rate per Follower: 0.014%
• Analysis: RBC Caribbean has the lowest engagement rate at just 0.014%, despite posting more than Scotiabank. This points to a serious issue with audience engagement, as their content is not resonating well with their followers.

Summary:

• JMMB and First Citizens show stronger engagement per post, with higher engagement rates relative to their audience size.
• Republic Bank is highly active but needs to improve the quality or resonance of their content to boost engagement.
• Scotiabank and RBC Caribbean both have low engagement rates and are also posting infrequently, indicating the need for a more robust content and engagement strategy.

Post Channels Engagement

This panel provides a summary of the Activity and Engagement for Scotiabank and compares it to the overall performance of other banks across different social media channels.

Scotiabank’s Activity:

• Most Active Channel: Instagram, with 0.30 posts/day.
• Facebook Activity: 0.23 posts/day.
• Despite Instagram being the most active platform for Scotiabank, the engagement rate per follower is relatively low at 0.34%.

Industry-Wide Comparison:

• The panel shows that TikTok is generating the highest engagement rate for the overall banking landscape, at a significant 40%. This stands out compared to the other platforms, where engagement rates are notably lower. Instagram and Facebook have engagement rates of 0.34% and 0.057%, respectively. These rates are well below the industry averages for financial services, which are typically around 5% on Instagram, 3.6% on Facebook, and 1.6% on TikTok.

Key Takeaway:

The engagement rates shown here are significantly lower than industry benchmarks. This indicates that while banks, including Scotiabank, are posting regularly, the content may not be resonating strongly enough with their audiences to drive meaningful interactions. Given that TikTok has the highest engagement rate, banks could consider leveraging this platform more aggressively. To improve overall performance, these banks need to focus on creating content that is valuable and engaging enough to inspire more interaction from followers across all platforms.

Post Types and Engagement

This panel provides an analysis of the average activity and engagement per post type for Scotiabank (left side) and all banks combined (right side).

Scotiabank Activity (Left Side):

• Most Common Post Type: Carousel posts, with 0.30 posts/day. These generate the highest engagement rate at 0.43%, which shows that multi-image or carousel posts resonate most with Scotiabank’s audience.
• Photo posts are the second most common, with 0.13 posts/day, but have a significantly lower engagement rate of 0.063%, which shows that while Scotiabank posts photos often, they do not perform as well in terms of engagement.
• Video posts are used the least frequently (0.10 posts/day) but yield an engagement rate of 0.053%, indicating that this format may not be fully optimized or utilized by Scotiabank for higher engagement.

Overall Bank Activity (Right Side):

• Across all banks, carousel posts are also the most effective type, with an engagement rate of 0.43%, even though they are used at a rate of only 0.15 posts/day.
• Links and Reels generate the second and third highest engagement rates, at 0.38% and 0.29%, respectively, though they are posted sparingly. This highlights that content driving clicks and short videos tend to spark engagement.
• Photo posts are the most frequent type used across all banks, with 0.91 posts/day, but have one of the lowest engagement rates at 0.063%, similar to Scotiabank’s numbers. This indicates that while photos are widely used, they are not the best format for driving meaningful interactions.
• Videos also show low engagement across the banks, with a 0.053% engagement rate, despite having higher potential for dynamic content.

Summary:

While photos are the most frequently used post type, both for Scotiabank and across all banks, they do not perform well in terms of engagement. Carousels and Reels (short-form videos) consistently generate higher engagement rates, even though they are posted less frequently. This suggests that banks, including Scotiabank, should consider focusing more on dynamic, interactive content such as carousels and reels, rather than relying on static images, to better engage their audience.

The Posting and Engagement Times

This image offers a breakdown of post times and their associated engagement rates for Scotiabank compared to the broader banking landscape. Here’s a detailed analysis of what’s happening:

1. Average Activity Per Published Hour (Top Left):

• Scotiabank’s activity peaks in the early morning (around 8 AM) and again in the evening (around 8 PM).
• The overall landscape follows a similar trend, with slightly more consistent activity between 4 AM and 8 PM, although Scotiabank’s activity tends to spike at more specific times, especially around 8 AM and 8 PM.

2. Average Activity Per Published Day (Top Right):

• Scotiabank is most active on Wednesdays, with fewer posts earlier in the week and picking up again on Saturdays.
• Across the landscape, banks tend to post consistently throughout the week, with the highest activity occurring from Monday to Wednesday, and a slight decline towards the end of the week.

3. Average Engagement Rate Per Published Hour (Bottom Left):

• Scotiabank achieves its highest engagement rates around 8 PM, where it briefly spikes close to 2%. However, engagement during the rest of the day remains relatively low.
• The overall landscape has more steady engagement throughout the day, peaking slightly around 12 PM and then again in the late evening.

4. Average Engagement Rate Per Published Day (Bottom Right):

• Scotiabank’s engagement peaks on Tuesdays, with much lower engagement on other days of the week. This suggests that their Tuesday content performs significantly better in generating interactions from their audience.
• Across the landscape, engagement is more evenly distributed across the week, though Tuesdays still show a slight increase in engagement compared to other days.

Key Takeaways:

• Scotiabank’s posting strategy could be better optimized throughout the week to align with higher engagement times. While they post frequently on Wednesdays, their highest engagement occurs on Tuesdays, suggesting a potential mismatch in content timing.
• Across the industry, consistent posting throughout the day and week appears to drive steady engagement, while Scotiabank experiences more spikes and drops in both activity and engagement. Matching high-quality content to these peak engagement periods (e.g., Tuesdays and 8 PM) could help boost interaction rates.

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Summary Recap of Website Analytics and Social Media Performance

1. Website Analytics Rankings (Traffic and Performance):

• 1st: First Citizens Bank
  • Leads with 34.26% share of total traffic.
  • Approximately 675.7K site visits in September 2024.
  • Strong presence and high user engagement.
• 2nd: Republic Bank
  • Holds 21.24% share of the total traffic.
  • 418.9K site visits in September 2024.
  • Steady traffic but lower than First Citizens.
• 3rd: JMMB
  • Accounts for 19.78% of total traffic.
  • 390.2K site visits in September 2024.
  • Relatively strong presence but behind Republic Bank.
• 4th: Scotiabank TT
  • Captures 18.9% of total traffic.
  • 372.6K site visits in September 2024.
  • Slightly lower traffic compared to JMMB.
• 5th: RBC Caribbean
  • Lowest with only 3.32% share of total traffic.
  • 65.5K site visits in September 2024.
  • Needs significant improvement in driving traffic.

2. Social Media Performance Rankings (Engagement and Activity):

• 1st: Republic Bank
  • Leads in total engagements with 11.8K cross-channel interactions.
  • Top performance in conversation (1.25K comments) and amplification (977 shares).
  • Despite a 40% drop in engagements, Republic Bank remains dominant in social media presence.
• 2nd: First Citizens
  • Shows the best engagement growth with a +19.9% increase in engagement.
  • 2.4K total engagements and strong performance in amplification (124 shares, +31.9%).
  • Consistent engagement rate per post and effective in sparking conversations.
• 3rd: Scotiabank
  • Moderate growth with a +7.53% engagement increase.
  • Engaged audience on Instagram, but total social media engagement is relatively low (1.1K total).
  • Weak amplification with only 4 shares.
• 4th: JMMB
  • Decline of -43.4% in engagement.
  • 797 total engagements, low amplification (35 shares), and struggles to generate conversation.
• 5th: RBC Caribbean
  • Sharp decline in engagement (-54.6%).
  • 759 total engagements and weak amplification (55 shares, -66.5%).
  • Struggles to create content that resonates and engages audiences across platforms.

General Observations:

• First Citizens Bank excels in website traffic, leading the market, while Republic Bank dominates social media despite experiencing a decline in engagement.
• Scotiabank has moderate success in both areas, but needs improvement in social media amplification and user interactions.
• RBC Caribbean performs poorly in both website traffic and social media engagement, needing a more comprehensive strategy to improve its digital presence.

Here are 6 ways the banks can improve their overall numbers:

Ways to Improve Website Traffic:

1. Create SEO-Optimized Content:

• Banks should focus on keyword research to identify what users are searching for in the financial industry (e.g., mortgage advice, loan comparisons, saving tips).
• They need to do a gap analysis across the entire landscape of banks to identify what all of the banks are ranking for in content on search engines, do the gap analysis to compare and contrast what the audience is searching for online but is not being answered by any of the banks.
• Creating blogs, articles, and guides that answer these queries can attract organic traffic from search engines.
• Currently, banks are missing out on content that addresses customer queries, so focusing on SEO would boost visibility and traffic.
• They also need to leverage YouTube as that is the top platform the audience in this landscape is using but it’s also a Search Engine, so this can greatly drive traffic back to the websites but also build brand equity to pull customers away from other banks.

2. Improve User Experience (UX) and Website Navigation:

• A fast-loading, mobile-friendly website with clear navigation can significantly reduce bounce rates and increase user engagement. Most of the banks websites are currently not mobile responsive and not everybody wants to use the apps.
• Streamline the user journey by making key information, easier to find.
• Adding features like chatbots or FAQ sections can enhance the customer experience, keeping visitors on the site longer.

3. Leverage Digital Marketing and Paid Search Ads:

• Use Google Ads or other PPC campaigns to target specific demographics and keywords relevant to financial products.
• Paid advertising helps capture traffic for high-intent searches (e.g., “best personal loan offers”), which can result in qualified leads.
• Combine retargeting ads with personalized offers to bring users back to the site who may have visited but didn’t convert.

Ways to Improve Social Media Engagement:

1. Focus on Video Content and Reels:

• Videos, especially short-form content like Instagram Reels or TikTok, tend to have higher engagement rates than static images.
• Banks should create videos that explain financial concepts, provide customer testimonials, or showcase behind-the-scenes operations to build trust and engagement.
• Video content tends to go viral more easily, increasing the chances of shares and amplifying brand visibility.

2. Boost Interaction with Audience:

• Encourage more conversations by asking questions, running polls, and responding promptly to comments on social media.
• Banks need to increase their engagement rate per follower, which is currently low. Prompt, meaningful interaction on posts can foster a more engaged and loyal audience.
• Running social media contests or giveaways could also drive interaction, increase followers, and enhance content shares.

3. Create Value-Driven and Educational Content:

• Provide financial literacy content that educates audiences about topics like savings, investments, and budgeting.
• Banks should post more carousel posts and infographics that explain complex financial concepts in a simplified, visual way. This content performs well in terms of engagement.
• Make the content shareable by offering valuable tips, news updates, or tools like calculators, so users feel compelled to pass it along within their networks.
• The content currently being created by all of the banks offers no value to the audience and isn’t fit for social media. This is reflective by the very poor results across all of the banks social media channels. They may be encouraged by high subscribers but if nobody is engaging on the content, that is the real mark about what the audience thinks of your brand and the content being created.

By focusing on these strategies, banks can significantly improve their digital presence, attracting more traffic to their websites and driving higher engagement across social media platforms.

If you are looking for digital strategy breakdowns like this for your organization and your competitors, feel free to connect with me here –> Contact me.

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