Social Media in Banking Industry

BANKING INDUSTRY IN INDIA
HOW BANKS CAN LEVERAGE SOCIAL MEDIA TO GROW ITS BUSINESS
© InRev Systems 2011

There is a shift in the Indian banking market from public to private and foreign banks
INDUSTRY OVERVIEW
Source: IBEF
Structure of Indian Banking System
Public Sector Banks
Private Sector Banks
Foreign Banks
Regional Rural Banks
Urban Cooperative Banks
Rural Cooperative Credit Institutions
Source: RBI

Offices of Commercial Banks in India
INDUSTRY OVERVIEW
Source: RBI

Fixed cost and exit cost is high which makes the industry attractive while large no of players makes it less attractive. Overall, the attractiveness of the industry due to industry rivalry is medium
Industry
Rivalry
Very capital intensive and involvement of economy of scale makes the industry attractive. The industry is highly regulated. Overall attractiveness due to threat of new entrants is high
Threat of New Entrants
INDUSTRY ATTRACTIVENESS
Overall, the attractiveness of the industry is HIGH
There are not many no of suppliers.
Moreover, backward integration of the supplier is quite possible. Overall, the attractiveness of the industry due to supplier power is medium
Supplier Power
There are large no of buyers and forward integration of the buyers is not likely. Brand of the bank plays an important role in customers choosing their banks. Overall, the attractiveness of the industry due to buyer power is medium to high
Buyer Power
There are a no of substitutes available such as moneylenders, micro-finance institutions, etc. However the reliability of banks makes it very attractive over its counterparts. Overall, the attractiveness of the industry due to threat of substitute is high
Threat of Substitute

LinkedIn has over 100 MILLION users and adds about 1 MILLION new users to its service every week. The median age of LinkedIn users is 41, and the average user has 60 connections. 20 percent of its members are in the service industry
Twitter has more than 145 MILLION users and adds about 6 MILLION new users a month. On average 140 million tweets are sent a day. More than 460,000 new account have been added every day . The median age of a Twitter user is 35 years old and the average user has 70 followers
SOCIAL MEDIA USAGE STATS
Facebook currently has over500 MILLION active users around the globe and 50% of these active users log on to Facebook in any given day. Facebook's median age is 31 and its average user has 130 friends and is connected to 80 community pages, groups or events while average user creates 90 pieces of content each month
YouTube has 2 BILLIONviews per day, and 24 hours of video is uploaded every minute. YouTube achieved for the first time the milestone of 100 videos watched per user last year

WHY SOCIAL MEDIA?
Negative word-of-mouth spreads fast especially in the social media and it is essential to engage proactively with such customers
It is essential to engage with customers to attract new customers as well as to understand the needs of customers

Has your bank got new product or service which you want to be make aware among your customer base? Social media is the best and easiest place to drive awareness of your product/service
Banks can use social media to identify and attract high quality job candidates. The number of prospects are high and is one of the easiest way of employment recruitment
WHY SOCIAL MEDIA?
It is essential for your bank to provide the best service and solution to your customers. By leveraging social media, banks can develop and increase their relationship with customers
Social media is the right place to collect information about the company. Social media is filled with suggestions for improvements and ideas and these can be used to foster innovation

SOCIAL ENGAGEMENT GRAPH
Interaction Plot of the Private Sector Banks in the Social Media Space

SOCIAL ENGAGEMENT GRADES
The Social Media Gradesshows how active the banks are in the social media space
Calculated on a scale of 5, the interactivity level of the banks in Facebook, Twitter, LinkedIn, YouTube and Blogs are taken into consideration
No of channels represents the bank’s presence in any social networking sites
Social Media Grades for the Private Sector Banks in India

HDFC Bank is one of the most prominent private sector bank in India using social media as a way of connecting and engaging with customers
Blog
Facebook Page
HDFC BANK
Engagement in Facebook
YouTube Channel

HDFC BANK
HDFC leverage the power of twitter for both customer engagement and notification
HDFC Bank has more than 12307 followers in LinkedIn

SOCIAL ENGAGEMENT GRAPH
Interaction Plot of the Public Sector Banks in the Social Media Space

SOCIAL ENGAGEMENT GRADES
The Social Media Gradesshows how active the banks are in the social media space
Calculated on a scale of 5, the interactivity level of the banks in Facebook, Twitter, LinkedIn, YouTube and Blogs are taken into consideration
No of channels represents the bank’s presence in any social networking sites
Public Sector Banks are lagging behind their counterparts
Social Media Grades for the Public Sector Banks in India

SBI is one of the most active public sector bank in India using social media as a way of connecting and engaging with customers
Engagement & Notification
In Twitter
Facebook Page
STATE BANK OF INDIA
Facebook Corporate Page
YouTube Channel
State Bank of India has more than 6500 followers in LinkedIn

Simplify360 is a web based social media engagement and analytics platform that offers a ONE STOP SOLUTION to the social media needs of a business and lets you engage with your customers and interpret your social presence
Simplify360provides an easy to use platform for tracking andlistening to what people are talking about your brand in social communities.
SIMPLIFY360
With Simplify360 you can not only LISTENto what your customers are talking about your brand but alsoENGAGE with them!
Simplify360 lets you ANALYSEthe social media presence of your brand by giving you actionable insights

ICICI Mentions in Twitter
TRACKreal time conversations about your brand. Once you understand how your product is perceived, you can take informed decisions to market it better
COMPARE the performance of your brand against your competitor
SIMPLIFY360
ICICI versus HDFC mentions in Twitter

Demographic of people who talk about SBI
TRACK the demographic profile of the people talking about your brand and COMPARE it with your competitors
SIMPLIFY360
It can be observed that people all throughout the different age groups talk about ICICI whereas people only in their 20’s and early 30’s talk about SBI. SBI may want to know the reason behind the less patronage in the age group of 35 and above
Demographic of people who talk about ICICI

Tracking the keyword “bank”
TRACK specific keywords to identify how your brand is mentioned in the industry
DETERMINE the industry trend
SIMPLIFY360
IDENTIFY what are the things that people talk negative about in your industry and ACT accordingly
Tracking negative sentiments about keyword “bank”

Negative Feedback about American Express
Brand Monitoring & Sentiment Analysis
Social Analytics Dashboard
Schedule Messages and RSS Feed
Personalized URL Tracking
Download Data and Reports
Creating Polls and Sharing
Email Campaigns
Team Collaboration and Work Assignment
Email and Notification
Re-tweet, follow, send message and
Engage with your customers
ENGAGETODAY with your customers using SIMPLIFY360
CREATE email campaign, polls and Not only do you get to define the goal for your campaign but see the progress in terms of visibility and reach of the campaign created
SIMPLIFY360

Our applications has been covered by top media houses in the world including Forbes, PCWorld, CNBC YoungTurks, KillerStartup, SiliconIndia, CIO, Smart Company and many more
Featured as ‘Startup of the Month’ in Silicon India 2010
OUR ACHIEVEMENTS
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© InRev Systems (2011)
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InRev Systems
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Social Media in Banking Industry

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