Whether Indian banks have adapted themselves to the social media tone? Do they respond to their follower’s tweets and post creative content on their timelines? Are they popular with their users and understand their social media needs?
Simplify360, a leading social media intelligence firm decided to answer these questions as they launched a comprehensive social media analysis of top 9 Indian banks, between the period April 15 to May 15, 2014.
As per their analysis, ICICI Bank is socially the most active bank in India, followed by Yes Bank and Axis Bank. ICICI managed to score 79 points in their social media endeavor whereas Yes Bank scored 78 points. Axis Bank with 73 points is placed at #3 position.
HDFC Bank is at #4 position with 62 points. Other banks which were analyzed for this study were: IDBI, Kotak Mahindra, SBI, CitiBank India, Standard Chartered India.
Here are some of the key findings of this unique analysis:
Contents
When it comes to share of mentions of brands on leading social network such as Facebook and Twitter, then Yes Bank commands highest 21% share of voice among all banks.
ICICI Bank’s brand name is mentioned 19% of time, followed by Axis Bank with 16% share.
Facebook Activism
Axis & ICICI Bank score high in terms of engagement with Facebook fans. But Axis Bank scores high with more people talking about the brand on Facebook compared to any other bank. Out of 629K fans of Yes Bank, they have managed to engage 11.8% of fans, which is certainly a very good feat considering the recent Facebook algorithms regarding low reach of posts by Facebook pages.
On the other hand, ICICI Bank has the maximum fans on Facebook, followed by AXIS Bank and HDFC. Standard Chartered India has the least reach among Facebook users.
Twitter Buzz
Yes Bank is the undisputed leader when it comes to Twitter as they not only have the maximum number of followers but also score high in the number of Tweets sent. Kotak Mahindra ranks at distant #2, followed by IDBI. Yes Bank has covered the recent IPL matches exhaustively on their Twitter account, and this can be a reason for their good score.
Interestingly, HDFC Bank has the fastest response time of 5.17 hours on Twitter. This means that whenever you send a Tweet mentioning HDFC Bank, it would be responded within 5 hours and 17 minutes. On the other hand, ICICI Bank has performed very bad in giving response as it takes 1 day, 13 hours and 49 minutes for them to respond to any Tweet.
CitiBank India & Standard Chartered India have to really pull up it’s socks on Twitter as they don’t even have a Twitter account! This is the reason for their poor overall scores.
Here are the overall score
We were slightly surprised to see HDFC score lower than Yes Bank and Axis Bank!
What do you think about it?
[…] had also earlier reported how banks are faring on the social media and digital communications management and the efforts they are putting into this […]
[…] Bank, which is already hailed as one of the most social friendly banks has now become World’s first bank to open up banking services through Twitter. Here is how it […]