127766648 final banking project
TRANSCRIPT
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Acknowledgement
The feeling of gratitude automatically arises from the bottom of the heart when we are helped by
anyone. A small but timely help can lead one to an important milestone.
Any single work is product of efforts, guidance and blessings of many people for our project
this statement is equally true.
Hence our project bears the imprints of many people.
First and foremost we would like to express our gratitude to our college IBS HYDERABAD for
giving us the golden opportunity of making the project. We feel obliged to DR. LAILA
MEMDANI, our project guide for providing us the valuable information and the supporting
guidance at all times. Last but not the least we thank our families for their never ending support
at all times.
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LITERATURE REVIEW
INTRODUCTION
With the emergence of the Social Media in the public domain and its usage as a powerful
customer-driven interactive tool has introduced the corporate to a complete new era of Marketingmedium. As the consumers have started being more influential and opinion leaders about the
brands and the product offerings, it is now compelling the businesses to rethink and reorganize
their marketing and communication strategies.
However due to the change in the philosophies and the attitudes of the customers, it is becoming
a challenge to leverage the true benefits of the social media. There are certain questions which
we need to understand such as ease of control of the brand by the customer and also the risk
which will be involved due to the public exposure especially for the Banks. But this is also true
that there has been a clear shift within a past few years and the businesses have started using the
social media along with the traditional medium of communicating with the customers.
The objective of the literature review is to understand how the Banks are gaining the opportunity
presented by the social media for their benefit. The study also aims to bring out the target set of
stakeholders towards which the study has been directed.
SUMMARY OF ARTICLES
Due to this being a relatively new field of study, there is a lack of pre-reviewed resources on the
subject. However there are some key practitioners and authors in the area of social media. Many
of the leading social media experts include Seth godin, Michel Joel and cliivis brogan.
(Berkeley and Michigan2007: 201) consider social networks to be an attractive field of research
due to its audience size and market potential. (Boyd and Ellison, 2008:211) define social
network as a web-based services which allow a user to build a public within the system, and also
to observe the list of relationships of those people with others in the system.
Boyd and Ellison explain that the most important current social networks were established after
2002 such as LinkedIn (2003), Hi5 (2003), Flicker and Facebook (2004), Twitter(2006). The
audience growth has also been tremendous with Facebook having approximately 547 million
users worldwide. Most available research suggests that they cater to bridge the gaps betweenonline and offline worlds. (Ellison, Stenfield and Lampe 2007) suggest that Facebook is used to
strengthen offline relations more than to build the new ones.
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REFERENCES
ELLISON,N., STEINFELD, C. & LAMPE, C., The benefits of Facebook friends: Exploring
the relationship between college students use of online social networks and social capital,
Journal of Computer-Mediated Communication, 12 (3), 2007, article 1 COOKE, M.,
BUCKLEY,N., Web 2.0, social networks and the future of market research, Internationaljournal of Market Research, vol. 50 Issue 2, 2007, pp. 267-291.
ACQUISTI, A. and GROSS, R., Imagined communities: Awareness, information sharing, and
privacy on the Facebook, in GOLLE,P. & DANEZIZ,G.(eds), Proceedings of 6th
Workshop on
Privacy Enhancing Technologies, Robinson College, Cambridge, UK 2006,pp. 36-58.
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EXECUTIVE SUMMARY
The concept of marketing has always been a crucial part for any business and it is not rare to see
organizations going at great length to promote their products. In this hyper competitive era,
companies are forced to adopt new strategies to remain relevant and of utmost importance to
their customers. Social media marketing is one such great change that many companies have
started to accept in a big way.
The concept of social media marketing basically refers to the process of promoting a business
through a social media channel. Its a low cost promotion method that is providing the businesses
with large number of links and huge amount of traffic that helps in fostering brand awareness
and increased customer service. With emergence of channels like twitter, Facebook, YouTube,
the barrier to entry in social media is greatly minimized.
With the huge advent of social media marketing, even banks today are taking it up as a
promotional tool in a big way. Social media is helping the banks to engage with the customers inan informal way and is providing a perfect platform for brand differentiation. The primary
objective is about listening to the needs and grievances of the consumers. In India, where 50% of
the people are unbanked and also majority of them do not have online access, social media
marketing may seem a little premature. However, the growth of online customers in the country
is one of the fastest in the world. Thus, the investment in this medium provides a perfect
platform to reap its benefits in the times to come.
In India, several banks such as ICICI, HDFC, IDBI, etc. have stormed into the social media
market in a big way. The role of banks as the financial experts with changing times has been
replaced by word of mouth peer conversations, or independent influencers. The rapid
emergence of social media has thus seen customers increasingly turn to their peers for
information and advice, rather than to financial experts in banks. So in order to keep in constant
touch with their customers and also to understand the changing customer needs banks are
proactively using the social media tools.
Our study primarily highlights the social media initiatives by two popular private sector banks of
the country i.e. HDFC Bank and ICICI Bank. Both these have been pillars of success and
constant innovation in the modern banking industry. IN spite of the fact that Indian banks have
forayed into the social media space very late still the efforts that have been made by these two
banks have been nothing short of commendable.
HDFC Bank often ranked as a topper when it comes to utilizing social media space engages in a
number of innovative social media tools to not only educate its users of its various banking tools
but also for understanding consumer grievances.
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ICICI Bank is although a new entrant in the social media realm but a lot of its applications and
innovative and user friendly. In fact it stands out as one of the most talked about bank in the
social media space with a lot of positive sentiments associated with the bank.
In order to delve a little deeper into the topic, our study further incorporates a comparative
analysis of social media initiatives by both the banks in order to see how each one of them is
fairing on different social media platforms.
Apart from this, we administered a questionnaire to around 40 respondents above the age group
of 23 years to understand the awareness and usage levels of social media platforms initiated by
the respondents serving bank. The results of the study helped us in gaining a greater
understanding about the importance and growing need for banks to reach out their customers via
digital means of social media marketing.
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BACKGROUND
The race among banking lenders to get noticed and make a lasting impression in the publicspsyche is only heating up. Traditional marketing tools like billboards and television advertising
may forever retain their charm as the preferred medium but one can t help but notice a
perceptible shift to social media which is emerging as the new destination for bankers to reachout to a wide array of customers.
The first inroads to discovery of social media were in the year 1888 when Heinrich Rudolf Herzgenerated the world's first radio wave. Fast forwarding to 1970, Norman Abramson designed and
tested the first wireless local area network, also known as the WLAN. From there, the race wason to make wireless technology smaller, better, faster and further reaching. Then when in theyear 1985, the courts released the industrial, scientific and medical (ISM) radio bands for
unlicensed usage, it is from there that Vic Hayes tweaked the wireless Internet and would
become known as the "father of Wi-Fi." From there it was merely a hop, skip and jump to the
fourth generation of cellular wireless (4G) standards that social media and wireless
communication users enjoy today.
Although the advent of social media was made long back but its popularity has reached massivelevels only in past few years. Seeing its ever growing mass appeal banks have forayed into this
zone but have been a late entrant in comparison to other businesses. Today almost all major
banks of the country whether public or private sector banks are only gaining through their onlinepresence on video sharing sites like YouTube or messaging service sites like
twitter,facebook,orkut,linkedln,google plus,etc or through discussion held through blogs or
online forums. Banks rate their performance on these social media platforms based on the fan
growth, number of conversations where the bank is talked about, the level of engagement i.e. interms of reply time and finally the sentiments associated with the bank which may be positive,
negative or neutral.
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OBJECTIVE
To get an in-depth understanding of how banks are gaining by being a part of
social media bandwagon.
To bring out the target set of stakeholders towards whom the social media efforts
of the banks are directed.
To give some of the general guidelines that a bank may follow while entering into
the social media space.
To understand the social media efforts made by two big public sector banks i.e.
HDFC Bank and ICICI Bank.
To bring out a comparable view of social media initiative by both these banks, in
order to gauge where each one of them stands.
To know the awareness and use of banks social media channels by a target
population between 25 to 35 years.
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RESEARCH METHODOLGY
The goal of any study is to produce new knowledge or deepen the understanding of a topic or an
issue. The issue that is dealt with, in our study is the use of social media by the banking industry.
Here our prime focus is mainly on two private sector banks i.e. HDFC Bank and ICICI Bank. We
delve into details about the social media used by these banks and offer a comparative analysis of
both the banks social media strategy. After this, we have tried to present a collated view of
around 30 respondents awareness and usage of their banks social media channels.
For the purpose of this study, the information gathered is from both primary and secondary
sources.
Primary sourcesbeing around 30 respondents above 23 years of age having a bankaccount and mostly net savvy. These respondents were administered with a questionnaire
to get their responses to various issues relating to social media.
Secondary sourceslike the internet and some books and publications were used to getinformation about the banks and the social channel that they use.
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SCOPE & LIMITATION
The project covers the use of social media channels by Banks with the prime focus on HDFC & ICICI
Bank. A comparative analysis of the social media channels of the two banks is also made. Further a
research study conducted for about 40 respondents is done to check the awareness of usage levels of
social media channels of these banks by the people having account in any bank. The result of the study is
presented din the form of graphs that brings out the information very adequately for the user that how
much they use the social network sites for complains, compliments, etc. and this study can also be useful
for banks as to where they lack in creating awareness among user about their rights, using these sites can
help them in any form from their homes.
Some limitations however much tried, are still encountered. These are as follows:-
1. Sources of information may not be equally credible.
2. Study group may not be representative of the large population.
3. The possibility of people behaving differently from who they actually are also cant be ruled out.
4. Researchers bias may also lead to some flaws in the results.
Every study has certain limitations but a successful study is where all efforts are made to minimize these
limitations and hence come out with an appropriate solution.
To curb these limitations utmost care was taken in the following ways:-
1. Each and every respondents views were heard and appreciated.
2. Thorough back checkhelped to maintain the credibility of the respondents views.
3. Expert analysis of the findings was done to ensure the quality of the findings.
4. Sources from which information is derived are genuine and are checked properly.
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SOCIAL MEDIA AND BANKING
Banks today recognize the importance of the Internet in their day-to-day operations. From
marketing of new products to reputation management for the bank to recruitment of newemployees, the Internet plays a major role in the Banks overall strategy. And now, the Internet
is generally synonymous with social media and its popular social networks. Use of Facebook,LinkedIn, blogging, wikis and other online social media vehicles are commonplace.
The proliferation of social media has taken the word-of-mouth marketing to exponential levels.
Customers today are using this platform to actively spread the word about their customer serviceexperience in real time. The average Facebook user has around 150 friends who can find out
about a bad banking experience within seconds, and on the other hand well treated customers are
becoming unofficial mouthpiece for brand building for certain banks. Banks thus must respect
the power of social media and focus on delivering quality services. It is better to invest in theprocesses that anticipate issues that might arise and address them immediately than to learn abouta problem after it is featured in a blog, leaving not much time with the bank for damage control.
Banks need to have a social media strategy before they decide to go online. They need to beproactive in interacting with their customers and understanding their choices and preferences.
Social media can also help the banks to map consumer trends and develop products and services
accordingly. Banks need to understand the different customer segments, their usage of socialmedia from a technology and interaction perspective and their implications. Banks can use the
social media channel to create innovative products and services that reflect a real time consumer
demand..
More than anything else, social media can helps banks in optimizing costs in relation to sales and
services as it provides an interactive and low cost medium to broadcast messages, identify
dissatisfied customers and have a great impact than the traditional media.
In India, several banks such as ICICI, HDFC, IDBI, etc. have moved to Facebook, Twitter and
many other social platforms. However, Indian banks still treat social media as a customer
grievance and product marketing forum, rather than a platform to engage with their current andexisting customers, providing perspectives on industry, seeking feedback to develop new
products and sharing insights about operating environment in and around a branch.
TARGET AUDIENCE OF THE BANKS SOCIAL MEDIA EFFORTS
A bank keeps several stakeholders in mind when entering the social media space. These are as
follows:
1. Existing Customers: To provide existing customers with information andconversation/engagement opportunities apart from those ongoing activities at the Bank or
in the community at large. Ultimately, the goal is to convert a customer into an
evangelist for the Bank i.e. not only does he himself stick to the bank but alsoencourages others to join in through his positive word of mouth.
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2. New Customers: To create sufficient awareness in the local marketplace that results innew customer originations for deposits, lending, and other services. The marketplace is
full of competitors with similar products and services. Social media allows the Bank toset itself apart from the competition.
3. Media: Social media provides the Bank with a platform to communicate with the mediaregarding its ongoing activities and rich history. Through social media the Bank canembed videos and other such content that can assist the media to a great extent. For
example, a bank video can be reposted by the media and potentially may result in viral
distribution.
4. Regulatory Agencies: Social media provides a channel through which the Bank canhighlight its compliance with the regulatory requirements. Also, social media provides a
convenient mechanism through which banks can receive consumer complaints or positivefeedback.
5. Community At-Large: Social media introduces the Bank to the community at-large. Thecontent created on social media serves as an information distribution channel throughwhich interested parties can learn about the Bank, its various products, its working, etc.
RESPONSIBILITY FOR SOCIAL MEDIA PRSENCE:
Senior management has a special responsibility with the banks Internet presence by
virtue of their high profile position within the Bank. Even if they do not explicitlyidentify themselves as being affiliated with the Bank, such senior level staff should
assume that theirposts will be seen and read by Banks stakeholders and that they willassociate such posts with the Bank.
A Banks staff member or employer should ensure that their profile and related content
is consistent with how they wish to present themselves to the Banks stakeholders,
business contacts, and their colleagues and peers.
The social media manager or marketing manager is responsible for managing the
banks social media strategy. They monitor all activities online on an ongoing basis. They
must select certain individuals as community managers that possess the requisitetechnical skills as well as the understanding of the risks associated with social media.
GENERAL GUIDELINES FOR BANKS ACTIVE ON SOCIAL MEDIA:
It is imperative that a bank follows certain guidelines for a respectful, knowledgeable
interaction with people on the Internet:
1. A banks goal should be to ensure that its voice is a part of the larger conversationsonline. First the topic being discussed should be explored, read and then only should
it contribute its inputs to add or advance the discussion. Do not embark before
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understanding the conversation. Inclusion of a relevant link further connects the bank
to the wider Web and can result in greater connectivity for the bank.
2. Online posts are visible by all with internet access so do not reveal any informationthat compromises bank policy or public positions i.e. dont share anything that is
proprietary and/or confidential to the bank.
3. Unless otherwise authorized no person can speak on behalf of the bank.
4. Bank logo and trademarks may not be used without an explicit permission in writingfrom the bank.
5. A bank should encourage its employees to write knowledgeably, accurately, andusing appropriate professionalism. Despite disclaimers, the web interaction can resultin members of the public forming opinions about the Bank and its employees,
partners, and products.
6. Banks should make the employees legally liable for commentary, content, or imagesthat are defamatory, pornographic, proprietary, harassing, libelous, or that can create
a hostile work environment.
7. A bank should at all times respecting differences and appreciate the diversity ofopinions of its customers.
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HDFC BANK IN SOCIAL MEDIA
MISSION
The mission of HDFC is to become A World Class Indian Bank it wants to be known for its
international standards and best practices in offerings the products, technology, service levels, risk
management and audit & compliance. Its objective is to build sound customer base
across distinct businesses so as to be a provider of banking services in target retail and wholesale
customer segments, and to achieve a healthy growth in profitability, consistent with the Bank's risk taking
ability.
SIZE
Number of branches and extensions: 2904
Number of ATMs: 5,890
Number of employees: 1,56.567
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OBJECTIVE
Continue to develop new product and technology is the main objective of the Bank.
Maintaining good relations with the customers is also the prime objective of the Bank.
SOCIAL MEDIA INITIATIVES BY HDFC BANK
Social media has emerged as a powerful tool for promotion by the companies these days. Social
media is referred to as anything which includes mobile based as well as web based technologies
with the sole aim of turning the communication into an interactive dialogue between the
organizations and the individuals.
When we say that it is used as a tool in Marketing, it means that we use it as a tool to create
website traffic and also gain attention of the consumers through these social media sites.
NEED FOR SOCIAL MEDIA
Banks are a customer driven segment, so there is a need for the Banks in todays
competitive world, to stay in touch with their customers through these online platforms.
Also, it helps to understand what are the requirements of the customers from time to time.
Another major advantage of using social media is that, it will help in getting feedback
from its customers on a regular basis.
The last important factor is that the cost of setting up the social media is minimal if we
compare with other marketing initiatives.
In the era of globalization with so many financial services emerging strong, all are trying to
promote themselves extensively. HDFC has made an effort to differentiate itself from the rest.
The main strength of the bank is its ability to deliver all what it promises on a consistent basis.
For this HDFC has adopted a 360 degree approach towards advertising which covers radio,
television, print media, outdoor activities and Social Media.
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According to the data, HDFC Bank was found to be most active on the Social Media platform
with a grade of 3.06 on a scale of 5.
As per the graph shown below, HDFC Bank is the one which has made its presence felt across 8
media channels which are highest till date
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Some of the major initiatives which have been taken by HDFC in developing its base in Social Media are
discussed below:-
FACEBOOK
HDFCs page on face book was created with an intention to make its customers learn about its
various products, exciting offers and latest news in the finance and Banking Industry. It has
helped them to understand their fans and also provide a platform to promote their products.
One of the major offerings which the Bank has initiated through its facebook page is SM ART
BUY, which lets you know about the latest deals offered by the Bank on its various financial
products.
Some of the other intiatives on its page are FINANCE FUNDA which clears the doubts of its
customers regarding all the financial problems. And TIME TRIVIA which updates thecustomers on various aspects of finance from time to time.
Another distinct feature which it has is that it uploads from time to time the latest videos on all
the current happenings of the Bank with regards to its operations and customer policies.
Moreover, it has also allowed its customers to post their complaints on the facebook wall and the
bank ensures to resolve it within a span of 24 hours.
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The total number of Likes, which the official Facebook page has, is 299,615. This it givesa clear indication that the Bank is quite active on Facebook.
The basic parameter to judge the involvement of customers on the Facebook is through
the number of Fans it has. HDFC Bank has shown a tremendous growth rate of 22% in its
fan growth as compared to the previous quarter.
If we see in terms of the engagement, HDFC Bank is the second most engaged bank on
the social media.
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HDFC BANK OFFICIAL WEBSITE
The Bank has redesigned its official website from the fiscal year starting from April12, wherein
customers are allowed to share their opinions regarding the services offered by the Bank. Also
they can give their valuable feedback from time to time to the Bank. Another very remarkable
feature which the Bank has is its FORM CENTER, where it provides to its customers all the
important forms such as Personal banking forms, credit card forms etc.
BLOGS, FORUMS, ETC.
Another important form of communicating with the users is through blogs and forums. There are
various blogs which have been created by the users of the Bank, the links for some of which
have been given below:-
www.firstpost.com/tag/HDFC-Bank
hdfc.blogspot.com
money.sulekha.com/hdfc-bank_blogs
These blogs are like opinion polls which are beneficial for both the customer as well as the
Bank.
http://www.firstpost.com/tag/HDFC-Bankhttp://www.firstpost.com/tag/HDFC-Bankhttp://www.firstpost.com/tag/HDFC-Bankhttp://www.firstpost.com/tag/HDFC-Bankhttp://www.firstpost.com/tag/HDFC-Bank -
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ICICI BANK IN SOCIAL MEDIA
ICICI Bank started in the year 1994 is today India's second-largest bank with total assets of Rs.
4,736.47 billion as on March 31, 2012 and profit after tax Rs. 64.65 billion for the year endedMarch 31, 2012.
NETWORK
Presence: 19 countries, including India.
Subsidiaries: United Kingdom
Russia
Canada.
Branches: United States,Singapore
Bahrain
Hong Kong
Sri Lanka
Qatar
Dubai
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ICICI Bank although a late entrant in the social media space has shown tremendous growth in
number of fans on its webpage each month. Also compared to any other bank, it is the most
talked about bank online, most engaging and with most net positive sentiments in comparison to
other banks.
TWITTER
ICICI Twitter page is although not as popular as its counterpart on Facebook yet ICICI continuesto have around 5000 plus people following it and 9,706 tweets. The bank uses this platform to
provide to its followers useful information about its new offerings and to address customer
grievances.
@ICICIBank_Care is like a customer query resolving platform for the bank but from looking at
the tweets one can clearly see that ICICI takes on an average longer time in replying to customerquery tweets. Thus, the brand needs to have a more active participation on twitter so as to be a
leader in the social media space.
ICICI BANK ON TWITTER
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YOUTUBE
In order to reach its customers in more and more innovative ways ICICI Bank has an
overwhelming presence on YouTube by having its own official channel on the website(link:
http://www.youtube.com/user/icicibank/featured). The channels has around 205 subscribers and
1, 99, 427 video views. It presents videos relating to ICICIs khayal Aapka campaign, itsproducts and services, social initiatives undertaken, CEOs interviews, safe banking practices,
etc. All these videos are an innovative way to reach out to the target audience. Any consumer can
subscribe to this channel, like or share the videos on this channel.
OFFICIAL ICICI CHANNEL ON YOUTUBE
LINKEDIN
ICICI Banks LinkedIn page provides the user with an overview of the bank along with the
various services it offers to its customers. Not just this ICICI provides the user with employeeinsights about the bank. This helps the customer to know more about the bank from the people
who are directly related to it. ICICI is yet to realize its full potential on LinkedIn in terms of
more interactions and engagement.
http://www.youtube.com/user/icicibank/featuredhttp://www.youtube.com/user/icicibank/featured -
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ICICI BANK OFFICIAL WEBSITE
The user can interact with the bank and vice versa through the interactive website of the bank.
The user can with utter ease post his comments, compliments and suggestion on the banks
official website. The website also offers a unique feature of opinionpoll where a question is
posted on a daily basis and the customer can select any of the options given. This is a
commendable way to engage with the customers.
BLOGS, FORUMS,ETC.
Apart from the above social media channels, a lot of independent users create blogs or forums to
talk about various happenings related to the bank. This gives the bank an opportunity to gather
opinion from a wide array of people that may or may not be related to the bank. Sometimes these
blog writers may be opinion leaders in a community; hence the bank monitors such blogs from
time to time.
Some of the most common blogs that pop out in a Google search are as follow:
http://icicibankblog.blogspot.in/
http://money.sulekha.com/icici-bank_blogs
www.mouthshut.com
http://icicibankblog.blogspot.in/http://money.sulekha.com/icici-bank_blogshttp://www.mouthshut.com/http://www.mouthshut.com/http://money.sulekha.com/icici-bank_blogshttp://icicibankblog.blogspot.in/ -
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Thus, ICICI shows that the best way to manage ones online reputation is to be proactive aboutit. In todays time constant monitoring and a direct connectivity with ones customer is a must
not only to solve their queries immediately but also to get several ideas and feedback to
improvise their services and offerings. A problem no matter how small, if not resolved, cancreate a negative impression of the brand in the market via social media.
A small summary is given in table to show the social presence of the two leading banks.
Online Presence ICICI Bank Magnitude of
Presence
HDFC Bank Magnitude of
Presence
Facebook Yes 2.4 Yes 1.4
Twitter Yes 3.7 Yes 3.8
LinkedIn Yes 0.2 Yes 0.1
YouTube Yes 1.5 Yes 0.8
Blogs, Forum Yes 0.5 Yes 0.4
Overall Yes 3.4 Yes 3.7
With respect to a social site HowSociable.com the magnitude of these two banks brand are calculated,
which shows the level of activity around a brand during a given week. The range is from 0 to 10. A score
of zero means there is zero or near zero activity for the brand. A score of 10 means the brand has
practically saturated the social web and will likely be recognized by everyone that uses it.
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Q3. On which of the following social networking sites are you actively involved?
As per the familiarity, involvement of majority was on Facebook social networking site.
Q4. Have you tried to surf the social networking site/sites that you are active on, for any information
related to your bank?
The above graph clearly shows that people are not aware of banks on social media or they are not
eager to involve themselves on social networking site for their banks.
0 5 10 15 20 25 30 35
FACEBOOK
TWITTER
LINKEDLN
ORKUT
ALL OF THE ABOVE
35
0
1
0
4
Involvement
0
10
20
30
40
yes no
6
34
Surf for your Bank on social
networking sites
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Q5. Have you ever written about your opinions/comments/queries on the webpage of your bank on
these social networking sites?
Only 7 out of 40 have involvement by writing on theses social networking sites as the previous graph
showed that people are either less aware of their on these social networking sites or they are not
interest to have banks on social networking sites.
Q6. Have you ever visited your banks official website?
From above graph it is clear customers are happily involved in official sites of banks.
0
20
40
yes no
7
33
Involment in terms of Bank on socialnetwork sites
35
5
0
5
10
15
20
25
30
35
40
yes no
visit on bank's official website
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33
Q7. Do you actively engage in reading other peoples comments/queries/complaints posted on the
official banking website forum?
29 out of 40 are not interested or engaged in reading the post by others on official site of banks.
Q8. Have you yourself ever posted any such query/comment/complaints on the official banking website
forum?
There are few people who use the easy mode to let them heard in which 14 out of 40 have posted
comment on forums available to make query or complaint
0
5
10
15
20
25
30
yes no
11
29
Have you ever read comments postedon forums?
0
10
20
30
yes
no
11
29
Have you ever posted any comment
on bank's forum?
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35
Q11. Do the posts on the social networking media affect your opinion about your bank positively or
negatively?
As per the involvement by the customers, the post does affect their opinion for the bank service
Q12. Indian banks treat social media as
Majority of people think social media is treated as product marketing forum amongst other
options.
0
5
10
15
20
25
30
yes no
26
14
Post on socail site affect your
opinion?
02468
10121416
6
12
4
1 1
16
Indian banks treat social media as?
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38
Q6. Have you ever visited your banks official website?
YESNO
Q7. Do you actively engage in reading other peoples comments/queries/complaints posted on the
official banking website forum?
YESNO
Q8. Have you yourself ever posted any such query/comment/complaints on the official banking website
forum?
YES
NO
Q9. Are you aware of any blogs associated with your bank?
YESNO
Q10. Do you think social media marketing provides a new platform for the banks to connect with their
customers?
YESNO
Q11. Do the posts on the social networking media affect your opinion about your bank positively or
negatively?
YESNO
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