June 2014

www.mindshiftinteractive.com

This report considers the top players in the

BFSI industry and seeks to understand their

digital presence in terms of social media

5 BFSI Players considered because

they enjoy the highest word of mouth

Understanding the

Framework

As per data collated from Apr 2014- June

2014

Social Media Presence

Facebook Fans

•ICICI bank has the maximum Fan following on Facebook with 2.99M Fans,followed by Axis bank (2.46M Fans)•Kotak Mahindra Bank Ltd. has the smallest size of audience on Facebookwith 0.22M Fans when compared with its competitors

Facebook Growth

•Though Axis bank doesn’t have the largest audience on Facebook as compared toits competitors, it can boast of the highest growth rate (8.76%) in the last 3 Months•HDFC bank comes last in the league with minimal growth rate amongst the fivebrands

Facebook Engagement

•On the engagement front, Kotak Mahindra Bank Ltd. has the highest EngagementRate, owing to the smallest Fan base•HDFC Bank comes last in the league.

8

Twitter Followers (Overall)

•Kotak Mahindra Bank Ltd. turns out to have the maximum Followers, which isway beyond its competitors on Twitter•Axis bank has the least no of Followers on Twitter with just 8.5K Followers.•All the five brands have had a more or less consistent growth of followers in thepast three months•ICICI Bank has specifically used Twitter from a customer care perspective only

Twitter Growth

•The highest growth rate was observed for Axis bank since Apr 2014 to June 2014

Klout Score

IDBI Bank has the highest Klout Score on Twitter followed by HDFC bank, whileAxis bank comes last in the league

21.38

5.30

37.83

12.60

Axis Bank HDFC Bank ICICI Bank Kotak Bank

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.

In H

rs

Response Time on Twitter

Source: Simplify360Analysis duration: past 1 month

Axis Bank : Facebook & Twitter Activities

• In order to create about buzz about its social media campaign to introduce its Youth Card, Axis Bank came up with a microsite for the same, within its main site and focused its campaign on Facebook with the application called ‘YOUth Card’ where one could stand a chance to win iPads or Samsung Galaxy phones by designing their own debit cards. The campaign was mainly to target the youth in the age group 18-25

• Along with promotions around offers and latest policies, the bank uses the platforms from an informative perspective. Eg WizzySecurity Tips

• On Twitter, the brand on a whole carries out its engagements mainly through tweets around Trivia, eDGE Loyalty Rewards Program, Offers on Card Usage, #AxisBankFoundation, etc.

• Also, the bank keeps doing contests from time to time. Eg. #ShopaholicsFestival

ICICI Bank: Facebook & Twitter Activities

• ICICI Bank introduced their Social Banking App called Pockets on Facebook which allows clients to not only access their account details on Facebook but also transfer funds, book movie tickets, recharge mobile phones and split and track group expenses and allows people to send notifications when payments to the group are pending.

• The brand also makes use of concepts on Twitter like #ThenAndNow, #50percentoff, #lifestyle which received a good amount of response from its followers

• The Brand recently came up with a Campaign called the ‘Magic Pencil Project’ which was a social cause drawing competition. They created a separate blog, a Facebook and a separate handle for the promotion.They also used the #IfIHadTheMagicPencil to promote the idea on twitter

HDFC Bank: : Facebook & Twitter Activities

• HDFC Bank came up with a tab,Taxpert,where tax experts give their views and solve queries put across by customers. The sections on official Facebook page of HDFC Bank provide all sorts of financial news to the fans. The management of their custom tabs is worth appreciating as they not only add value to their Facebook community but also direct the traffic to their website.

• They have used interesting hashtags like #TravelSmart, #FinanceFunda, #GadgetGyaan #DreamDrive, #SmartBuy, #MobileBanking, #QuoteUnquote, #Travel, #SecureBanking etc.to engage with its audience

IDBI Bank: : Facebook & Twitter Activities

• IDBI Bank is using a generic approach to reach out to its audience with regularly hosting quizes, current affairs etc

• Twitter engagement also carried out through #hashtagsthat includes #SaveEnvironment, #Rupee, #SuccesQuote, #Quote, #DidYouKnow, etc.

Kotak Mahindra Bank Ltd. : Facebook & Twitter Activities

• Based on their mascot Subbu, Kotak Mahindra Bank launched its campaign named ‘ Subbu sab janta hai’ with a series of TVCs to spread awareness about their saving schemes. They also held a contest on Twitter and Facebook related to the campaign

• However, the brand is pretty irregular in terms of posting on Facebook

• The brand has carried out its Twitter engagement mainly through several contests and connected with followers through #hashtagslike, #YesIDidIt, #Contest, #Quiz, etc. It started a major campaign in the month of Nov’13 that says “14 Challenge, 14 Days, 14 Prizes, 2 Special Prizes & One Grand Prize! Participate now”

Mindshiftin’ Insights

• Though ICICI Bank comes to first when it comes to audience on Facebook, Axis Bank is the winner in terms of creativity and activity on Facebook

• On Twitter, HDFC and ICICI bank are the forerunners, since they actively engage with their audience on the platform. However, Kotak Mahindra has the largest audience on Twitter with 100K Followers

• The banks are currently using Twitter primarily from a customer perspective, which needs to change gradually, in order to create a unique presence.

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Have feedback for us on the Report? Would you like us to study your brand and the impact social media can have on it?

Get in touch:

Arashdeep Sandhu

Research Head – MindShift Metrics

Neha PuriSr. Manager – MindShift Metrics

THANK YOU