Nedbank Zimbabwe Digital Marketing Analysis
After releasing the Zimbwean Banks Social Media Marketing Analysis Report, I didn't expect it to gain much traction. However, it did well and I received multiple questions about why I left out Nedbank Zimbabwe Limited . To be honest, I didn't have a good reason. I think it was because I was exhausted and also because I didn't anticipate the report being widely read.
Let's go ahead and do a digital marketing analysis of Nedbank Zimbabwe, a subsidiary of the Nedbank Group based in South Africa.
SOCIAL MEDIA
To kick off the analysis, I looked at follower base. Just like every other bank in Zimbabwe, Nedbank has the most followers on Facebook, boasting 106,000. The other platform where they have the most followers is LinkedIn, with 28,703 followers. Instagram (3,622) and Twitter (12,500) are the least-followed platforms.
After looking at follower base, I then counted the number of posts the bank made on the four platforms (Instagram, LinkedIn, Twitter, and Facebook) from March 29, 2024, to July 11, 2024, which is also the past three months. In these 104 days, they made 151 posts on Facebook, 91 on Twitter, 83 on LinkedIn, and 27 on Instagram.
To measure the effectiveness of their social media marketing, I also calculated their engagement score. I did this by dividing the total number of likes they had from the posts made in the period in question by the number of posts made in the same period. The further the score is from 0, the more engagement they received. Their engagement scores were LinkedIn (20), Instagram (7), and Twitter (4). As for Facebook, I calculated the comments-based ES (9) and the Like-based ES (61) and had to come up with an average engagement score for Facebook. I achieved this by adding 61 and 9 and then dividing by 2, making the overall engagement score for Facebook 35.
Comparing to Other Banks
Everyone wants to know how Nedbank actually compares to other banks. After comparing Nedbank's performance to other banks, these would be its rankings in the bank performance list:
Overall: 8
Commentary
Nedbank as a bank they are an "okay" bank, sitting at number 8 out of 12 banks overall, which isn't great, but it's not as bad as Empowerbank.
They seem to have really nice content, but somehow they aren't getting the follower base. The bank was established in Zimbabwe in July 2004, which means they are marking their 20th anniversary this month, but their social media marketing isn't yielding much in results.
Honestly, being a sports brand (they sponsor the Sables and the Gems) brings them so much content besides just "bank with us" content, which should channel sports lovers to their pages, but it's not really working.
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Sponsoring sports makes them seem like an energetic brand; however, their graphics, visuals, and marketing don't show the energy that the sports bring. Their graphics and marketing are steady and relaxed, mainly because of their mature color palette. This then causes a lack of consistency in the branding and energy emanating from their social media platforms. We move from being laid back to excess energy and back to the relaxed vibe in less than five posts.
I'm not suggesting a change of the color palette, but they can definitely be creative with it. The images their photographers take should also have that vibe. As one of the young banks in Zimbabwe, they should be the ones to easily and quickly grasp tech advances, but they don't have a TikTok account. They don't do reels on Instagram and Facebook yet, despite being a sporty brand. The few videos they have have poor quality. Video quality works in keeping the audience engaged and getting the message across.
If they want to pull up engagement and follower count, they need to look at their current marketing and think about how to tweak it a bit to make it "wow." They could be running a podcast/vlog where they talk about rugby and netball, marketing the bank in the process. They have the content, they have the means; what might be lacking is the will. This is a good way to push their pages for growth and engagement.
Their followers also seem to be interested in property investments, but they deprive them of that much content. The last article that was posted on their LinkedIn page was from four years ago. Maybe COVID-19 disrupted things, and they haven't managed to get back on track. Since then, well, I suggest they do.
They seem to treat each platform differently based on the number of posts made on each platform, but they seem to neglect Instagram. Since they're treating each platform differently but still not performing well, I'd suggest having curated strategies for each platform.
They are doing a good job not directly selling their brand and services all the time like other banks. However, I think they need consistent energy, energetic graphics, a focus on what's working, increased content variety, and improved content quality. This should give them some engagement and increase follower count across platforms. User/follower-generated content could also be a good strategy to win over followers and encourage more engagement.
WEBSITE ANALYSIS
Ran the websites in Insights to see how they are performing. Here is the list of things they are doing well and that they can improve:
The Good
The Bad