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Social media analysis - Indian Banking industry 2013

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A comprehensive report on Social Media Landscape of Indian banking industry - 2013
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How Indian Banks Leveraging Social Media: A Detailed Investigation Report Prepared by Webenza November 2013
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Page 1: Social media analysis - Indian Banking industry 2013

How Indian Banks Leveraging Social Media: A Detailed Investigation ReportPrepared by WebenzaNovember 2013

Page 2: Social media analysis - Indian Banking industry 2013

Indian Banking: Social Media

Global Footprint

Page 3: Social media analysis - Indian Banking industry 2013

Social Media Strengths of Indian Banks:5 Indian Banks Find Places in Top 50 Global List

A report by The Financial Brand around the Social Media Strengths (based only on Facebook Likes, Twitter Followers and YouTube Views) for Banks, revealed that ICICI

Bank Ranked 4th globally at the end of Q3’2013.

Pow

er 1

00 S

core

*

4

8 9

14

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*Power 100 Score: The Financial Brand’s proprietary score to rank 100 banks globally in terms of their social media strengths.

*Global Ranks: Ranked based on the “Power 100 Score” globally.

Page 4: Social media analysis - Indian Banking industry 2013

Top 5 Indian Banks

Facebook Likes

Twitter Followers

YouTube Views

3 37 194 38 39

5 83 20

9 36 59

37 6 17

Social Media Strengths of Indian Banks:Top 5 Indian banks – global standing across platforms

Though ICICI ranked 4th among Indian Banks in the global social media competition, however, Kotak Mahindra was ahead of ICICI on both Twitter

Followers and YouTube Views in Q3’2013.

GLOBAL RANKING IN Q3’2013 IN TERMS OF

The following slides also reveals that, on the basis of current engagement, Kotak Mahindra is consistently improving (observed the maximum growth within the above three KPIs) in the past 60 days.

Page 5: Social media analysis - Indian Banking industry 2013

Facebook Audience (Likes):Fan growth rate of top 5 Indian banks

ICICI Bank has the maximum no. of Facebook fans. However, Kotak Mahindra (57%) saw the maximum growth followed by Axis Bank (21%) on their Facebook Likes in

the last 60 days. IDBI had the lowest growth rate.

Data for Nov’13 considered till Nov 27, 2013

Page 6: Social media analysis - Indian Banking industry 2013

Twitter Audience (Followers):Fan growth rate of top 5 Indian banks

Kotak Mahindra has the maximum no. of Twitter Followers. While, Axis Bank (67%) followed by Kotak Mahindra (41%) saw the highest growth in the last 60 days; IDBI

observed the lowest (2%) growth rate.

Data for Nov’13 considered till Nov 27, 2013

Page 7: Social media analysis - Indian Banking industry 2013

YouTube Audience (Views):Fan growth rate of top 5 Indian banks

Kotak Mahindra has the maximum no. of YouTube Channel Views. HDFC (27%) followed by Kotak Mahindra (13%) saw the highest growth in

YouTube Views in the last 60 days.

Data for Nov’13 considered till Nov 27, 2013

Page 8: Social media analysis - Indian Banking industry 2013

Indian Banking: A Social Media

OverviewPlayers considered in this report are in terms of market share and revenue. These include: SBI, HDFC, ICICI, Axis Bank, Yes Bank, IDBI, Kotak Mahindra, Canara Bank, Punjab National Bank (PNB), Bank of Baroda, Citibank and Union Bank if India. “Bank of India” was eliminated from the list due to some data unavailability.

Page 9: Social media analysis - Indian Banking industry 2013

Digital Media Landscape:SOV and SMQ standings – Top Indian Banks

SBI

Digital Media Landscape

ICICI

HDFC

AXIS

IDBI

Yes BankKotak Mahindra

Canara Bank

PNBBank of Baroda

UBI

Social Media Quotient (SMQ)

Dig

ital M

edia

Sha

re-o

f-Voi

ce (S

OV)

Bubble size represents the revenue of the bank

SBI, the industry leader in revenue and digital media coverage of Share-of-Voice (in the past three months), lost to HDFC, ICICI and other 3 players in Social Media Quotient* (SMQ).

*SMQ is a cumulative score out of 100 that signifies the bank’s

social media presence, focus and strength.

Note: “Bank of India” and Citibank are not considered in this chart.

Indi

an B

anki

ng In

dust

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MQ

Ben

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(43.

5)

Page 10: Social media analysis - Indian Banking industry 2013

Social Media Quotient: Understanding Banks’ Current Social Media Engagement & Efforts

Social Media Quotient* (SMQ) Analysis

HDFC scored the highest (92.9) in terms of social media channel presence and focus, followed by ICICI (84.8) and Axis Bank (72.5). Other players that are doing extensively well in social

media include IDBI, Yes Bank and Kotak Mahindra.

Note: Social Media Quotient (SMQ) analysis is done on the basis of Social Media engagement and presence in the month of Nov’13.

Page 11: Social media analysis - Indian Banking industry 2013

Bank Facebook TwitterSocial-

Friendly Website

LinkedIn YouTube Blog Google+ Slideshar

e Wiki Pinterest

Social Media Channels:Channel Focus by Indian BanksIndian Banks are not concentrating on Blogs and Slideshare, however, all the players are present on LinkedIn

and also manage their Wikipedia pages. Increased adoption affinity was seen for Twitter and Facebook.

Page 12: Social media analysis - Indian Banking industry 2013

Social Media Channels:Channel strength across Indian banks

Yes Bank scored the most on Twitter, while ICICI led on Facebook.Whereas, HDFC and Kotak Mahindra emerged as the most diversified company in terms of

their choice of Social Media channels.

Social Media Channel Strength across Competitors

Cha

nnel

Sco

re

Page 13: Social media analysis - Indian Banking industry 2013

Digital Media Coverage Snapshot: SOVHow Indian banks share the Digital Media coverage

• SBI appeared to be the most talked about bank in the digital media space• During the past three months (Aug 25 - Nov 25), SBI accounted for maximum coverage

with (35%) share in SOV followed by ICICI (20%) and HDFC (14%)

N = 19,452

Share-of-Voice (SOV)

Page 14: Social media analysis - Indian Banking industry 2013

Digital Media Coverage Snapshot: Volume TrendCoverage trend among competitors

• SBI led in coverage across three different time periods, however, during Sep 25-Oct 24, it got the maximum coverage compared to other two time periods considered for analysis

• ICICI had more coverage during Aug 25-Sep 24, while rest of the competitors had almost similar coverages across three different time periods

Coverage Volume Trend

Page 15: Social media analysis - Indian Banking industry 2013

Digital Media Coverage Snapshot: Topic AssociationWhat drove SBI to lead in SOV?

Key Drivers for SBI Coverage

Top SBI Story in Nov’13:• SBI raises lending rates by 0.20 per cent• State Bank of India Recruitment 2013

– For Pharmacists, CRO & Armourer– For Engineer Pay Scale >Rs. 60 Lakh per Year– For Clerical Posts – Chief Technology Officer Application Form 2013

• State Bank of India executive in bribery probe put on leave• SBI MF appoints Dinesh Khara as MD and CEO• State Bank of India (SBI), the country's largest lender posted

a 33 per cent drop in net profit for Q2

Top SBI Story in Oct’13:• State Bank of India donates Rs 2 crores to CM relief fund• State Bank of India Recruitment 2013 • State Bank of India gets first woman boss, Arundhati

Bhattacharya appointed chairperson of India's largest bank

• Air India & State Bank of India come together to launch #travel credit card @Fly_Air_India @SBIconnex

• SBI cuts car, consumer goods loan rates

Top SBI Story in Sep’13:• State Bank of India increases its minimum rate of lending by 0.10 per cent to 9.80 per cent• SBI acquires 23% shares of BSBII, Indonesia• SBI share price reflects state of banking in India - Business Standard• State Bank of India likely to recruit 19,000 clerks• State Bank of India Chairman Pratip Chaudhuri says the RBI has tightened liquidity starting July

15• An SBI research report today said banks are likely to net USD 5 billion by March, 2014 by availing

RBI's special window facility to swap foreign currency non-resident ( FCNR) dollar funds -- half of what experts from foreign brokerages have initially estimated

SBI coverage during the past three months centred around Recruitment, Executive Movement, Product Updates, Financials and Thought Leaderships (Research)

Page 16: Social media analysis - Indian Banking industry 2013

Digital Media Coverage Snapshot: Topic AssociationWord Cloud for top 3 competitors in SOV

Word Cloud

Page 17: Social media analysis - Indian Banking industry 2013

Digital Media Coverage Snapshot: Top sources that garner banking industry coverage

• The industry (comprising of top players) witnessed the maximum coverage generated through Online News followed by Customsites and Twitter in the past three months (Aug 25 – Nov 25)

Channel Breakout that Garnered Coverage Across Competitors

N = 19,452

Page 18: Social media analysis - Indian Banking industry 2013

Digital Media Coverage Snapshot:Sources that garnered coverage across competitors

• Online News contributed almost equal coverage for ICICI and SBI in the last three months, while SBI led across all other channels

Channel Breakout across Competitors

N = 737 N = 5,719 N = 1,153 N = 49 N = 6,295 N = 5,187 N = 312

Page 19: Social media analysis - Indian Banking industry 2013

Indian Banking: Social Media Best

PracticesWe considered top Five players for in-depth investigation of Social Media performance and engagement especially on Facebook and Twitter, who scored the maximum in SMQ, that include – HDFC, ICICI, Axis Bank, IDBI and Yes Bank. The evaluation was done only for the month of Nov’13 (till Nov 25).

Page 20: Social media analysis - Indian Banking industry 2013

HDFC Bank: SMQ Rank - 1 Facebook & Twitter engagement snapshot

• Facebook engagement was mainly around offers on Loan (Car, Home and Personal), Mobile & Net Banking and Card Offers

• Facebook Likes: – 1,805,477

• Twitter Followers: – 11,128

• YouTube Subscribers:– 1,044

• LinkedIn Followers:– 60,269

• Google+ Followers:– 10,518

SMQ Score: 92.9

• Twitter engagement carried out mainly through various #hashtags that include - #DreamDrive, #SmartBuy, #MobileBanking, #QuoteUnquote, #Travel, #SecureBanking, #FinanceFunda, etc.

• Has a separate Twitter Handle for customer support (@HDFCBank_Cares)

Page 21: Social media analysis - Indian Banking industry 2013

ICICI Bank: SMQ Rank - 2 Facebook & Twitter engagement snapshot

• Facebook engagement was mainly through Puzzles, Q&A, Exploring India, promoting Net and Mobile banking.

• Facebook Likes: – 2,573,269

• Twitter Followers: – 10,772

• YouTube Subscribers:– 1,054

• LinkedIn Followers:– 71,949

• Google+ Followers:– N/A

SMQ Score: 84.8

• ICICI Bank has only one Twitter Handle and is mainly used for Customer Support services

Page 22: Social media analysis - Indian Banking industry 2013

Axis Bank: SMQ Rank - 3 Facebook & Twitter engagement snapshot

• Facebook engagement was mainly through Trivia, eDGE Loyalty Rewards Program, Offers on Card Usage, CSR (Events)

• Facebook Likes: – 1,871,510

• Twitter Followers: – 4,292

• YouTube Subscribers:– 778

• LinkedIn Followers:– 45,489

• Google+ Followers:– 9,535

SMQ Score: 72.5

• Twitter engagement carried out mainly through tweets around Trivia, eDGE Loyalty Rewards Program, Offers on Card Usage, #AxisBankFoundation, etc.

• Has a separate Twitter Handle for customer support (@AxisBankSupport)

Page 23: Social media analysis - Indian Banking industry 2013

IDBI Bank: SMQ Rank - 4 Facebook & Twitter engagement snapshot

• Facebook engagement was mainly through various #hashtags that include #ratesofinterest, #savings, #BankingTip, #HealthQuote, #Fact, #FinanceFunda, #DidYouKnow, #ReliefFund etc.• Facebook Likes:

– 794,298• Twitter Followers:

– 9,850• YouTube Subscribers:

– 6,062• LinkedIn Followers:

– 9,712• Google+ Followers:

– 19,509

SMQ Score: 62.8

• Twitter engagement also carried out through #hashtags that includes #SaveEnvironment, #Rupee, #SuccesQuote, #Quote, #DidYouKnow, etc.

• Has only one Twitter Handle that is also used for customer support (@IDBI_Bank)

Page 24: Social media analysis - Indian Banking industry 2013

Yes Bank: SMQ Rank - 5Facebook & Twitter engagement snapshot

• Facebook engagement was mainly through Quizzes, Trivia, Quotes, Offers and Promoting Contest on Twitter, etc. Several other posts were centred around Rana Kapoor, Founder, Managing Director & CEO and his views on different topics• Facebook Likes:

– 303,142• Twitter Followers:

– 47,870• YouTube Subscribers:

– 32• LinkedIn Followers:

– 15,708• Google+ Followers:

– N/A

SMQ Score: 59

• Twitter engagement carried out mainly through several contests and connected with followers through #hashtags like, #YesIDidIt, #Contest, #Quiz, etc. It started a major campaign in the month of Nov’13 that says “14 Challenge, 14 Days, 14 Prizes, 2 Special Prizes & One Grand Prize! Participate now”

• It does not have any separate Twitter Handle for customer support


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