Three years back, we published a report on How Indian banks are using social media to connect to their customers. That was the time when banks were not completely exploring social media as a means of communication with their customers. But even during those days we had seen ICICI and HDFC to be the major rivals in this domain.
Today, a lot has transformed in the banking sector: a major factor for this change has been driven by social media. Social media has revolutionized the whole language of communication. Customers no longer wait for raising a call with customer call center.
We at Simplify360 like to keep an eye on how various brands are performing.
According to our latest research, with an overall score of 80, HDFC topped the list of the most social banks in India on social media, followed by ICICI (Score= 77)and Yes Bank (Score= 66).
AXIS Bank, ICICI Bank and HDFC fared the best on Facebook.
Yes Bank achieved the highest score on Twitter in June, probably because of their World Cup campaign which helped them gain visibility.
A very interesting thing to note is how public sector banks are starting to use social media. SBI bank has tripled its fanbase on Facebook over the last three months.
Check out our complete report from here:
Simplify360 Social Index considers three broad parameters in to consideration for measuring a brand’s performance on social media. The three parameters include Buzz Score, Facebook Score and Twitter Score. Scores for each brand are normalized on a scale of 0 to 100 at parameter level and a weighted average scoring is considered for calculating SSI.
Buzz score considers the total mentions of the brand on various social media platforms such as Facebook, Twitter, Discussion, Forums, Blogs and news sites.
Facebook score considers the total number of fans on Facebook and people talking about the page
Twitter score considers total number of followers and mentions.
Owned media is the mention of the brand on their owned social media channels. For example, the comments and posts on the official Facebook pages are considered as owned media mentions. Similarly for mentions, retweets of the official handles and customer care handles are considered as the owned media mentions. While on the other hand, the mention of the brand elsewhere without tagging the official handles and pages is considered as earned media.
Oh, by the way you might also want to check out social customer service review of HDFC on social media. 😉