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Payday Loan Marketing in Social Media Networks
Author(s) -
Hao Jianqiang,
Dai Hongying
Publication year - 2017
Publication title -
journal of consumer affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.582
H-Index - 62
eISSN - 1745-6606
pISSN - 0022-0078
DOI - 10.1111/joca.12151
Subject(s) - social media marketing , loan , social media , business , advertising , marketing , the internet , sentiment analysis , digital marketing , computer science , finance , world wide web , machine learning
The payday lending industry has grown dramatically over the past two decades, with lenders increasingly marketing their products on the Internet. However, little is known about payday loan ( PDL ) marketing through social media networks. Our study is the first to report the PDL promotions on Twitter. Out of 23,276 tweets related to PDLs from June 29, 2015 to October 2, 2015, 71% were commercial tweets, most of which came from a small percentage of users. The overall impact to the general public was large and we observed a range of opinions in our sentiment analysis. Commercial tweets had an average sentiment score of 34.9 while noncommercial had a total average sentiment score of 50.7. Commercial tweets were more concentrated in states with restrictive or hybrid regulations on PDL . Our findings provide evidence for enhancing online PDL regulations and using social media data for real‐time monitoring of PDL lending.