Top Banks on Social Media (India)April, 2014
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 dont 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.
RankCompany nameSSISCORE(April14)1ICICI792YesBank783Axis Bank734HDFC625IDBI476KotakMahindra407SBI318CitiBankIndia299Standard Chartered India27MOST SOCIAL BANKS (INDIA)SSI refers to Simplify360 Social Index
PARAMETER WISE BREAKUP OF SCORESFinal index is a function of Buzz score, Facebook score and Twitter scoreBANKBUZZ SCOREFACEBOOK SCORETWITTER SCOREOVERALL SCOREICICI75837079YesBank83708878AxisBank67884873HDFC58636262IDBI50474347KotakMahindra42257040SBI33273731CitiBankIndia1747029Standard Chartered India2545027
YES BANK HAS THE HIGHEST SHARE OF VOICEShare of mentions of brands on social media (Owned + earned media), April 2014In 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 2014Bank Industry, India, Source: Simplify360Size of the bubble represents the percentage of engaged fans to the total fans on the page
People Talking about No. of fansICICI BANK HAS THE HIGHEST SHARE OF FANS ON FACEBOOKShare of fans on Facebook, April 2014
Size of the bubble represents the number of tweets sent from the official twitter handleYES BANK IS THE UNDISPUTED LEADER ON TWITTERLEADERS
Performance of Indian Banks in Social Media
00DAYS21HOURS22MINS43SECS00DAYS05HOURS17MINS44SECS01DAYS13HOURS49MINS49SECS00DAYS12HOURS36MINS09SECSHDFC 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 TwitterFigures 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 queriesMethodologySimplify360s 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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