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HIGHLIGHTS:
• ICICI bank performs the best on social media followed by Yes Bank. At third place is Axis Bank but the margin between second and third placed banks is not much. Yes Bank has a less Facebook score when compared to other banks so that is one area the bank could concentrate on.
• Standard Chartered and Citibank India don’t have Twitter handles specifically for India. Their scores are determined only by their Facebook activities. This is the reason for their low score compared to other banks.
• Axis Bank fared the best on Facebook. They have the highest Facebook score of 88, but they did not do exceptionally well on Twitter.
• Yes Bank has engaged 11.81% of its fans. Considering their 629K fan base, it is not easy to maintain this figure. It faces a tough competition from Standard Chartered which has a fan engagement of 11.20%.
• Yes Bank has achieved the highest score on Twitter in the last month. This could be because of their involvement in the ongoing IPL which is getting them visibility on the platform.
Rank Company nameSSI SCORE
(April’14)
1 ICICI 792 Yes Bank 783 Axis Bank 734 HDFC 625 IDBI 476 Kotak Mahindra 407 SBI 318 CitiBank India 299 Standard Chartered India 27
MOST SOCIAL BANKS (INDIA)
SSI refers to Simplify360 Social Index
PARAMETER WISE BREAKUP OF SCORES
Final index is a function of Buzz score, Facebook score and Twitter score
BANK BUZZ
SCOREFACEBOOK
SCORETWITTER SCORE
OVERALL SCORE
ICICI 75 83 70 79Yes Bank 83 70 88 78Axis Bank 67 88 48 73HDFC 58 63 62 62IDBI 50 47 43 47Kotak Mahindra 42 25 70 40SBI 33 27 37 31CitiBank India 17 47 0 29Standard Chartered India
25 45 0 27
YES BANK HAS THE HIGHEST SHARE OF VOICE
18%
20%
16%
14%12%
10%
8%
ICICI Yes BankAxis Bank HDFCIDBI Kotak MahindraSBI Standard Chartered IndiaCitibank India
Share of mentions of brands on social media (Owned + earned media), April 2014
In terms of social media mentions, Top 3 firms cover 56% of the buzz
ICICI AND AXIS BANK WERE THE LEADERS ON FACEBOOK, YES BANK HAS ENGAGED MAXIMUM FANS Performance of Indian banks on Facebook, April 2014
Bank Industry, India, Source: Simplify360
Size of the bubble represents the percentage of engaged fans to the total fans on the page
LEADERS
0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,0000
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
PEO
PLE
TA
LKIN
G A
BO
UT
NO. OF FANS
ICICI BANK HAS THE HIGHEST SHARE OF FANS ON FACEBOOK
29%
23%22%
8%
6%
6%
3%2% 1%
ICICI Axis BankHDFC IDBIYes Bank Citibank IndiaStandard Chartered India
Kotak Mahindra
SBI
Share of fans on Facebook, April 2014
Size of the bubble represents the number of tweets sent from the official twitter handle
YES BANK IS THE UNDISPUTED LEADER ON TWITTER
LEADERS
0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,0000
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Followers
Me
nti
on
s
Performance of Indian Banks in Social Media
Axis Bank
HDFC Bank
ICICI Bank
Kotak Bank
21.38
5.30
37.83
12.60
00DAY
S
21HOURS
22MIN
S
43SEC
S
00DAY
S
05HOURS
17MIN
S
44SEC
S
01DAY
S
13HOURS
49MIN
S
49SEC
S
00DAY
S
12HOURS
36MIN
S
09SEC
S
HDFC Bank performs the best with 5.30 hours or in other words 5 Hours 17 Minutes, time taken to respond to their customers. On the other hand, ICICI Bank is the worst performer with more than 1 day, that is 1 day, 13 hours and 49 minutes, to respond.
Response time of banks on Twitter
Figures displayed here are in fraction of hours,
For the analysis, the customer care responses in April were analyzed.
Time taken by Indian private banks to respond to customer complaints and queries
Methodology
Simplify360’s proprietary listening tool is used for collecting the data and counting the number of mentions for each company.
The parameters considered for Twitter and Facebook were also gathered through Simplify360. For brands having multiple Twitter profiles their main official account is taken into consideration. For estimating the response time, customer care handles are taken into account. In case there is no dedicated customer care handle, the official handle is considered.
Total 9 banks were considered in the analysis.
Geography considered: IndiaPeriod of analysis: April 15 to May 15, 2014
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