Tag Archives: social Media

How may we help you Socially!

A sound marketing advice for any brand would be, to be where their customers are. Well one sector that has taken this advice seriously in the Indian market is their banking sector.

Research indicates a good adoption of social channels across geographies as well the readiness of the marketers to make social media a part of their integrated marketing campaigns.

In the Indian context the adoption of social channels like Facebook and Twitter is proceeding at a phenomenal rate and it doesn’t come as a surprise therefore that social accounts of leading private sector banks have got a huge traction.

‘Top 100 banks using Social Media’ report for Q1 2014 by Financial brand has three Indian banks in the top 10

The exponential rise of both internet and mobile communication has facilitated easy access to social media and the Indian BFSI sector has been quick to make the best of it

Like their global peers, top Indian banks are providing enhanced services to their social customers on various platforms and let’s understand how:

ICICI for example has a Facebook app ‘ Pockets ‘ primarily aimed at youngsters and provides features like splitting and sharing expenses, booking of movie tickets, recharge of tickets, carrying out bank transactions, etc. It’s just not business for them but features like Fan of the month and One Minute Challenge help them be in touch with the audiences.

HDFC on the other hand, over and above the conventional widgets provides apps related to auto sector in the form of ‘Ask Autocar Expert’ and shopping deals through ‘SmartBuy Offers’

Axis Bank takes a step further and has integrated the entire customer support on its Facebook page providing interesting features like ‘ Ask a Question’, ‘ Share and Idea’,  ‘ Report a problem’, ‘ Give Praise’ etc

Kotak Jifi in my view is a revolutionary idea in social banking . Through Twitter one can get an instant update on the account balance, pin generation, credit card inquires etc. Importantly you get rewarded for your social transactions which is a good way of promoting social banking

Another important thing done right by the brands is making the requisite content available to the end customer easily.

For instance if you are looking for information on mutual funds, ICICI Prudential Mutual Fund and HDFC Mutual Fund have dedicated Facebook pages which makes the search as well as reaching out the right representatives of the company a level easier.

Customer service in a B2C domain continues to be very competitive and challenging with rising expectations.  There’s a lot more the brands can do being social and it seems they have taken the right step forward

How #NaMo goes social

When Obama made history in US one of the noteworthy features of his winning formula was the effective leverage of social media in poll campaign. Another leader who is very actively involved on the social media circuit is India’s Narendra Modi.

Breaking the clutter of a typical Indian politician, Narendra Modi comes across as a very tech savvy leader. As per opinion polls carried out by leading Market Research agencies he is considered to be a darling of the urban Middle class and Youngsters. It therefore isn’t a surprise that he has strategically chosen to reach out to them via social media

Let us look at some of the stats:

Narendra Modi’s official facebook page can boast of 1.8M likes which is miles ahead of the other politicians in India

‘Narendra Modi for PM’ another community page for Narendra Modi has approximately 1Million likes. Also one has to separately take into account the other FB pages that are present with each of them having significant following.

He tweets regularly and currently has around 1.7 Million followers. He has till now tweeted about 2.5K tweets.

One also finds him active on Google + with around 0.5 Million users having included him in their connection circles. He is an active blogger and also his YouTube channel has a strong subscription base of 50k followers.

The above figures are highly impressive as this PR machinery is over and above the official party channels and other propaganda carried out by his fan groups.

A lot has been said that two India exists, one being India and other being Bharat. NaMo has struck an impressive chord with the  Indians through Social Media which typically is his target audience but in order to achieve overall success strategy, social media still doesn’t give significant leverage in India as Bharatiyas still are a dominant force in elections

Also social media is highly unregulated and the most recent incident of Narendra Modi fans expressing displeasure against Advani through tweets was not very well accepted by certain sections of the society.

Social Media as we all understand can make as well as break brands and hence well devised strategy and effective monitoring becomes extremely necessary