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This report aims provides insight into the Banking Industry in Vietnam. We look into people's preferences into their customer experience; using either traditional or digital banks, we deep dive into the topics driving social conversations about the banking industry, and the top mentioned brands related to the banking industry in Vietnam.

We have explored the latest trends and unpacked the current situation faced by the digital banking industry in Vietnam.

Download the whitepaper and read more.

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Media Monitoring is more than just a buzz word 

There are many common misconceptions about media monitoring that need to be cleared up sooner rather than later to give your brand the best chance of positive PR. Rather than letting your company succumb to the myths and misinformation being spread around, here are three of the most prevalent misunderstandings and the fact behind the fiction:

There's more to media monitoring than the digital platforms.

Myth #1 - You only need digital

While digital platforms are becoming more important to media monitoring, this is by no means the only area you need to be covering. Tweets, online newspapers and blogs are of course crucial, but so too are traditional media options, like local newspapers, talkback radio and other offline sources.

In fact, the best way to approach your media monitoring strategy is to accept that digital and traditional media are commonly connected, rather than separate features. For instance, social is often used as an extension to broadcast offerings, according to a study from Nielsen.

Here at Isentia, we understand that all platforms are important. No matter how small. 

Myth #2 - Only the big publications matter

For many companies, getting the brand name or products mentioned on a national radio show or published in a country-wide newspaper can mean a big break. Alternatively, a negative story across these major platforms could result in a significant blow to your reputation and profitability.

It is clear, then, that keeping tabs on the big media players is crucial. However, while some media monitoring providers will focus on national newspapers, big brand radio shows and other major publications, these strategies could be missing an important element.

National publications can give you a clear picture of what millions of consumers are reading, thinking and discussing, but this is unlikely to give you much information on what the local people believe.

If your business operates in a rural or remote location, you need to be tracking the local publications.

If your business operates in a rural or remote location, you need to be tracking the local publications - no matter how small. Similarly, even newspapers circulating in smaller parts of big cities can provide a significant level of insight, if only you are aware of their readership and content.

Myth #3 - Listening is the most important part

While media monitoring is critical for business success, listening to the conversations about your brand and industry is far from the be-all and end-all to your strategies.

Once you have uncovered a relevant story or discussion, it's not enough to simply stand idly by and learn from the experience. Taking the next step involves getting an insightful and useable report, deciding on relevant and effective action and getting involved in the discussions.

Of course, this is all easier said than done, but with the right media monitoring tools, you can get started with your best foot forward. Click here to check out some of our services so that you can be on the right track! 

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I crowd-sourced some opinions on ‘how PR has evolved’ via Facebook before this article was penned, and ‘chaotically’, ‘always-on’, ‘unpredictably’ and ‘intense’ were among some of the top keywords surfaced. Exactly how fast is the news-making cycle today? I’ve experienced it first-hand a couple of weeks ago.

9am, on my way to work, I posted on my Facebook page about a new flat fare option launched by local taxi company ComfortDelGro. 

By 11 am on the same day, three interview requests had arrived via Facebook Messenger from three different publications. By 2 pm, all interviews were completed on WhatsApp and my name appeared in the papers on the very next day. The whole event took place in less than 24 hours.

This is a glimpse of how news is made in this day and age. Journalists today are online and on social media; they are following key opinion leaders (KOLs) to get opinions. Gone are the days when they relied solely on press releases and spokesperson soundbites to write news and when public opinion was easier to gauge as people were only accessing a handful of mediums to receive information.

The convergence of digital, social and mobile has added layers of complexity in PR and clearly disrupted the practice, as news today becomes 24×7 and travels across the globe at the speed of the internet. The infamous United Airline incident for example, although happened in Chicago, created an uproar and boycott in China and trended in the top news on Weibo, all because of the power of social media.

The rise of digital and social certainly has benefited PR by creating the direct relationships with people, rather than requiring a media filter. To fully unleash its benefits, the best PR talents should strike the balance between creating content that people actually want to read, listen to or watch, and providing what traditional journalism would consider “news.”

With a good piece of content and story at the core, PR professionals are required to have the ability to navigate an increasingly complex media environment and to embrace the beauty of digital and social to enhance storytelling.

Instead of issuing a formal corporate announcement, why not consider tapping on Facebook Live for product launches and public activations? OCBC Bank recently launched its Stay True campaign via Facebook Live, where the bank’s Head of Consumer Financial Services was put through a lie detector test. The video garnered over 200,000 view to date.

Another example of leveraging digital to innovate traditional PR approach is a revamp of online corporate newsrooms. Dynamic Newsroom is a mash-up of PR, content and digital, which is designed to drive engagement, not simply overload information. It takes the best of everything we know about media relations and hosting content online, to more effectively connect brands with journalists.

Having talked about the benefits and opportunities, I also would like to caution that this trend of digital and social convergence also poses certain threats.

As social media increasingly becomes a main source of news and information and due to the fact that most social media content is user-generated, in order to boost visibility and garner likes and shares, brands and citizen journalists have been noticed to use unethical techniques to make their content exciting or ‘viral’. Such fake news and clickbait headlines are detrimental to brand reputation and consumer trust.

With great power comes great responsibility. The ability to earn credibility becomes even more important in an era of round-the-clock marketing messages. PR is becoming even more important and relevant than ever as the most reliable voice.

Originally published on Digital Marketing Asia 

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The rising cost of living is not just an issue in Australia but a global concern that affects countless individuals, with people facing the daunting challenge of affording basic necessities while striving to maintain a decent standard of living. It’s a topic that can touch a nerve for many, but it’s also a dynamic conversation that drives the media, public opinion, and individual experiences. 

What’s driving the cost of living concerns?

A range of factors are driving the cost of living in Australia, with some having more of an impact than others. Using data from our sister company, Pulsar, inflation (as the overarching issue) is gaining the most media coverage as the price of goods and services continues to increase over time.

The chart also shows the rise in energy costs, interest rates, and housing prices (rent and mortgage prices) as other main drivers for cost of living concerns. As energy prices continue to increase, households are feeling the pinch as their expenses soar. And when it comes to housing, whether it's the skyrocketing rent or the burden of increasing mortgage payments, many individuals and families are finding it increasingly challenging to secure affordable accommodation.

Let’s take a closer look at these topics.

Feeling the pinch

The cost of living crisis goes beyond numbers; it’s intertwined with the housing market and interest rates. Escalating housing costs, fueled by rising prices and interest rates, can put immense strain on household budgets, leading to financial stress and widening economic inequality.

But the conversation doesn't stop there. The story behind the data is clear: the cost of living is an issue that affects us all, and the media plays a crucial role in shaping and amplifying the conversation. Google searches and social media activity reflect people’s ongoing concern about the weight of living expenses, especially around RBA announcements. Anxiety emerges as a dominant theme, with a staggering 93% of media coverage highlighting the keyword.

Data from the Australian Bureau of Statistics shows living costs have reached an all-time high. Over the past 12 months, all living cost indices have risen between 7.1 percent and 9.6 percent for all households, compared to a 7 percent annual increase in inflation.

The difference largely stems from living cost indices taking into account mortgage interest charges. Housing and interest rates have been the largest contributors to the rise in the cost of living, with home owners feeling the pinch from rising mortgage payments and renters feeling the brunt of it. According to the RBA, the average mortgage size in Australia has increased by 38% in the past decade. According to Pulsar data, unsurprisingly, 84% of Australians are left feeling sad about the cost of living. 

Influential figures shaping the conversation

Data from the Pulsar Platform gives a visual snapshot of how several Australian and foreign individuals and groups are influencing the conversation, including politicians, economists, consumer advocacy groups, and business owners.

Unsurprisingly, the Australian Labor Party (ALP) holds significant influence when it comes to shaping the cost of living conversation in Australia’s political landscape. As the governing body in Australian Parliament, their policies and initiatives subjectively bear the everyday Australian in mind, aiming to tackle the affordability challenges that many face. The ALP resonates with citizens worried about rising living costs due to its focus on income inequality, social justice, and fair economic policies. But are they doing enough?

Treasurer Jim Chalmers, along with other influential ALP members including Prime Minister Anthony Albanese, Chris Bowen, and Mick de Brenni, are leading the conversation in an effort to alleviate living expenses and promote income growth. Despite their desire to achieve these outcomes, the public outcry on Twitter shows the frustration Australians are feeling. The Prime Minister and Treasurer are in the firing line, with the public urging more action on the cost of living crisis.

How media intelligence can help you navigate the cost of living

Advocacy efforts can be significantly enhanced through the use of social listening and media monitoring. These tools allow you to effectively navigate the dynamic narratives surrounding the cost of living. By tailoring your advocacy approach, you can foster a more equitable and sustainable solution that brings positive change to communities and influences public opinion.

Additionally, by staying well-informed about the ongoing public discourse and trending discussions related to the cost of living, you can develop compelling communication strategies that effectively inform and engage your stakeholders.

Curious about how media intelligence can enhance your communication strategies to connect with your audience? Request a demo here, and our expert team will reach out to help you develop your communication strategies.

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