Challenge –
DFS Faced Inaccurate Reporting & Lost Trust in Previous Media Monitoring Vendor
Discover Financial Services (DFS) faced several issues with their previous vendor’s media monitoring and reporting system. The vendor’s inability to capture crucial mentions from key publications eroded Discover’s trust. There were frequent inaccuracies, including double-counting of data and irrelevant mentions, in the reports. The client was further burdened with editing daily briefings for over 30 minutes; reorganizing, deleting irrelevant stories, and handling virus-laden links from obscure publications. These inefficiencies created internal tension and increased workload, ultimately leading DFS to seek a more reliable, accurate solution to meet their reporting and KPI-tracking needs.
Solution –
Watershed Delivers Tailored Monitoring and Reporting with Precision and Accuracy
Watershed’s deep expertise in financial services enabled them to quickly step in with a tailored approach to effectively address Discover Financial Services’ challenges.
Provided reliable, timely news and social media monitoring through hand-searching hard to access publications and conducting additional searches to ensure no key mentions were missed.
Implemented a strict adherence to Discover’s Key Publications list, filtering out irrelevant or potentially harmful sources and running a daily test to ensure links were safe.
Delivered daily briefings to the executive management team at DFS, including detailed social media reports, which were fully organized and prioritized by section, eliminating the need for Discover to spend time editing.
Performed quarterly analyses for 9 teams/business units, ensuring accuracy through manual hand-coding of every story and LinkedIn post, categorizing sentiment and themes to deliver precise and accurate data.
Developed a comprehensive, real-time media dashboard for easy tracking of leadership goals and KPIs.
Collaborated closely with DFS, frequently checking data files and double-checking against their own internal reports to maintain accuracy and transparency.
Results –
Watershed Transforms DFS Reporting with Unmatched Accuracy and Significant Time Savings
9,780
Q2 & Q3 Stories Analyzed
90%
Reduction In
Client Review Time
5,580
Stories
Coded In Q3
+95%
In
Accuracy
Watershed’s hands-on approach led to smoother, more efficient reporting processes.
DFS’s trust in the monitoring and reporting process was restored, thanks to enhanced data accuracy and a proactive communication system.
