Bangalore 17th August, 2012: Simplify360, the leading Social Media Management application for Social Business Analytics and Multichannel Engagement launches a report on Banks on Social media, a study on Banks based in Singapore.
The objective of this study was to understand the social media presence of banks in Singapore and which are the banks that are using this channel of communication to their advantage. In this research, four major banks in Singapore namely DBS, Citibank, OCBC and Standard Chartered Bank are considered. The conversations in social media are tracked from 1st July to 31st July for a period of one month. The study is based on total of 38,301 conversations are collected for the purpose of the study.
“Being a completely customer driven segment, Banks are required to be in constant touch with their customers. Social Media can act as a great channel of communication not just for promoting new schemes but also listening to what the customer needs and collecting feedback online. This report shows the trend in social media and banking industry” said Vang Lian, Vice President and Lead Analyst, Simplify360.
Some key findings:
- OCBC is the most talked about bank in Singapore
- Conversations about banks are 80% most likely to come from men.
- Twitter is the most preferred medium for conversations about banks, contributing to 76% of the social media buzz.
- A disgruntled bank customer is most likely to complain about it on discussion forums and on micro-blogging site Twitter
- The buzz around banks tracked in this study came mainly from United states, followed by Indonesia and Singapore
Social Networking sites, micro-blogs and blogs are still the medium of choice for banking related conversations. They contributed to 94% of the time spend on the internet which is close to 16 times the amount of time spend on other sites. Videos, photo sharing sites like flickr and other standard web pages are yet to catch up.
Lian says, “This is interesting to see that OCBC Bank has the highest share of buzz among conversations from Singapore.
Interestingly, CitiBank with a global share of voice of 65% is on par with Standard Chartered coming far second when buzz only from Singapore is considered. While DBS has only 4% share.
The share of buzz of CitiBank declines as we narrow further down from global to Asian continent and then to only Singapore.
Simplify360 is a Social Media Management Application for Social Business Analytics and Multichannel Engagement. Global clients have validated the product for stability and scalability with significant use for some time now. It enables organizations to effectively implement social media concepts in to core business functions. Powered by Simplify360 AnalyticsTM, Simplify360 extend a sophisticated and user-friendly environment to realize value via actionable intelligence. The company supports a variety of Enterprises, SMBs, Media Agencies, Research and Analytics Communities and Customer Support Organizations.
To view the full report please visit: www.simplify360.com
Contact: contact [@] simplify360 [dot] com
Original Research PPT can be found on our Slideshare account: