In the banking sector, an impeccable reputation and a positive image are worth their weight in gold, and losing one’s good name can result in a significant customer exodus. But are the banks operating in Poland aware of the power that online recommendations hold today and do they take care of their Google Business Profiles? We examined this by taking a closer look at four of them: PKO Bank Polski, PEKAO, Credit Agricole, and Santander.
Why Is Good Management of a Google Business Profile So Important?
Every year, more bank branches disappear from the map of Poland. According to Inteliace Research, the number of brick-and-mortar branches in Q1 2023 fell below 10,000 for the first time in 25 years. In 2020, there were 12,500 branches; thus, over the past 36 months, the number of physical bank branches has decreased by over 2,600. There are several reasons for this trend. First – the development of online and mobile banking, which allows customers to handle most matters remotely without leaving home. Second – operating physical branches requires significant financial investment, so as part of cost optimization, banks are closing some branches, usually the least profitable or those visited by very few customers.
And why do consumers bypass some branches, even if there is a queue at others? Sometimes it is simply due to a poor branch location, but in many cases it is because of a lack of trust in that place, unprofessional service, or long waiting times for issues to be resolved. In the digital age, people do not choose a bank branch at random; before a visit, they search for reviews online—most often on the Google search engine. If a bank has many positive ratings/reviews on its listing (Google Business Profile), and it responds to the few negative ones tactfully while engaging in dialogue with reviewers, the likelihood increases that a new customer will choose that branch over others in the area. So, do the banks operating in Poland take care of their Google Business Profiles, continuously update them, and—most importantly—motivate consumers to leave reviews? Results vary, but the major players are also starting to succeed in this area.
PKO Bank Polski, PEKAO, Credit Agricole, and Santander – Analysis of Reviews in Q2 2023
For the Q2 2023 review analysis of selected banks, we used our expertise, including a proprietary solution that allows us to gather data and position profiles in Google listings—the growAp.eu application. What do the results of the study show?
Number of Reviews:
- PKO Bank Polski was the clear leader in terms of the total number of reviews acquired throughout the quarter – over the three months, it accumulated more than 10,000 reviews, which translates to an average of 3 new reviews per branch per month.
- In April, Bank PEKAO ranked second with an average of 4 reviews per branch; however, in May and June, it recorded approximately 500 fewer reviews than in April, with an average of 3 reviews per branch, which dropped it to third position in our ranking.
- Bank Credit Agricole, which started the quarter in third place by acquiring 1,575 reviews, obtained slightly more reviews in the following two months and thus advanced to second place on the podium, maintaining an average of about 4 reviews per branch per month.
- Santander remained far behind its competitors and only gathered 345 reviews in April; however, each subsequent month showed a definite improvement – in May it received an average of 2 reviews per branch, and in June, it nearly reached 3 reviews per branch.
Average Ratings:
- All the analyzed banks in Q2 2023 began with an average rating above 4, which is a very good result and speaks highly of their service standards.
- In April and May, the leader was Bank Credit Agricole with ratings of 4.81 and 4.85, respectively; however, in June, its rating dropped to 4.77, narrowly (by just 0.01) surpassed by PKO BP, which previously held second place.
- Third place throughout the quarter consistently went to Bank PEKAO, which received a score of 4.76 in April and then slightly declined, finishing June with a score of 4.61.
- Santander was the only bank that improved its results month after month, increasing its average rating from 4.15 in April to 4.54 in June.
Does the Banking Sector Harness the Potential of Google Business Profiles?
Google Business Profiles are a valuable communication channel with customers, as they are the first to capture the attention of people searching for information about a given brand online. Unfortunately, still few companies harness this potential—they neither encourage their clients to leave reviews, nor moderate them, or they do so in an unbalanced and not fully thought-out manner. In the case of banks, the situation looks rather promising. Our analysis shows that some of them have learned a lesson in managing their Google Business Profile and can boast a high volume of reviews, a high average rating, and an appropriate response to the occasional negative comment. Unfortunately, others have much to catch up on in this regard, as they are clearly lagging behind their competitors in both the number and quality of the reviews on their Google Business Profile.
Managing a large network of Google Business Profiles is now simpler than ever. Dedicated tools available on the market help not only maintain the accuracy of contact information but also allow for quick responses to emerging signals of customer dissatisfaction. For someone reviewing the opinions on a Business Profile, the way a brand handles negative comments is highly influential in the decision to visit.
Steady, organic acquisition of reviews is fundamental, but one should not forget about the opportunities companies have to leverage customer insights to actively encourage them to share their review after a visit. In our experience, many customers are willing to leave a review, but if we do not remind them of the opportunity, they simply won’t do it.
Michał Byrczek
Digital Communication Manager at Credit Agricole Bank Polska S.A.
Are you a representative of one of the banks presented above and would like to access detailed data, including on a weekly basis? Contact us! We are also open to discussions with other representatives from the banking sector. We would be happy to help you manage your brand’s Google Business Profile more effectively. We will ensure a consistent image for your company, enable efficient and effective customer communication, and most importantly—deliver real profits with minimal effort.
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