African commercial banks social benchmark report

African Commercial
Banks Social
Benchmark Report
Who’s winning
and who’s lagging
on social?

2 @whysatisfy | @conversocial Share this
Financial Institutions Responsiveness Report | Conversocial African Financial Services Benchmark Report
This report is for executives, marketing and social media experts in the financial services
industry who are striving towards improved customer service who want to work within
the confounds of “putting the customer first” , ensuring they are at the forefront of today’s
mobile customer.
Report Contents:
Findings
The African Mobile User
Financial Services Performance Report
The Importance of Social Customer Care
Appendix
1
2
3
4
5

Most
Responsive
to Direct @
Mentions
Best Mean
Response Time
Least
Responsive
to Direct @
Mentions
Worst Mean
Response Time
Industry Average
Responsiveness to
Direct @ Mentions
Industry
Average Mean
Response Time
Overall
72.2% 6 mins 35 secs 4.6% 4 hrs 19 mins
31.83% 1 hrs 28 mins
South
Africa 72.2% 12 mins 16 secs 24.80% 3 hrs 6 mins
34.80% 1 hrs 54 mins
Kenya
28.58% 56 mins
Nigeria
32.10% 1 hrs 35 mins
1
REAL TIME RESOLUTION: The banks in Kenya are the most responsive and have an average response time of less
than an hour compared to Nigeria at over 90 minutes and South Africa with an average response time of close to 2 hours.
Although Kenya may be the fastest to respond, they are not the most responsive when replying to customers. South African
banks are the most responsive, on average replying to 34.8% of messages, they are followed by Nigeria at 32.1%
HUMANITY @ SCALE: South Africans are more connected and reach out over 4 times per hour, this is almost double the
amount of times Kenyans make contact each hour. South Africans may be more social media savvy and aware that if they
make contact via Twitter they will get a more timeous response.
SERVING THE ALWAYS-ON CUSTOMER: With thanks to social media and mobile connectivity a customer can research,
shop and provide feedback in less time than it would have taken them to walk to the local branch in days gone by. The
consequence is that the brand no longer has a closing time and customers expect fast responses to their queries, for this
reason brands now need a solid Social Customer Care plan to ensure they are equipped to manage reasonable customer
Findings
LEADERS AND LAGGERS

2
Africa boasts 7 of the world’s 10 fastest growing internet
populations.
As the price for an entry level smartphone decreases
across the African continent, more and more people
are “going online”. By the end of 2016 the number
of smartphone connections had almost doubled
compared to the previous 2 years. There are now over
226 million smartphone users on the African continent 1
As more people get connected they join various social
media channels and by the end of 2016 mobile social
media usage had grown by over 50% year on year. 2
This translates into more people having access to shop,
transact and interact online.
South Africa has a very connected population in
terms of mobile phones, over 145% of the population
has a mobile subscription. This indicates that some
people have more than one mobile phone. 52% of the
South African population have access to the internet
and 27% (15 million) are active on social media. The
amount of social media users who were active on their
mobile phones increased by 30% year on year. Overall
13 million South Africans were accessing social media
via their mobile device at the beginning of 2017. 3
82% of the Kenyan population has a mobile
subscription, 67% of the population has access to and
uses the internet, 14% of these individuals are active
on social media. Most of these users access social
via a mobile device. In the last year, there has been a
31% increase in active social media users and a 46%
increase in individuals that access social media via their
mobile phones. 4
In early 2017, there were over 18 million Nigerians active
on social media, just 10% of the total population. 83% of
the Nigerian population has a mobile subscription and
51% have access to the internet. Overall 8% of the total
population accesses social media via a mobile device.
Between 2016 and 2017 there was no growth in the
amount of internet users in the country, however there
was a 20% increase in active social media users and a
36% increase in social media access via mobile. 5
It is evident that mobile penetration is growing rapidly
throughout the African continent. As a result, more
people have access to the internet and ultimately social
media. With information and access at their fingertips
these mobile users are becoming accustomed to a
world of instant gratification. This translates to more
online purchases and direct interaction with brands.
1 Smartphone use has doubled in Africa in two years - https://qz.com/748354/smartphone-use-has-more-than-doubled-in-africa-in-two-years/
2 We Are Social – Digital 2017 Global Review - https://wearesocial.com/blog/2017/01/digital-in-2017-global-overview
3 Digital in 2017: Southern Africa - https://www.slideshare.net/wearesocialsg/digital-in-2017-southern-africa
4 Digital in 2017: Eastern Africa - https://www.slideshare.net/wearesocialsg/digital-in-2017-eastern-africa
5 Digital in 2017: Western Africa - https://www.slideshare.net/wearesocialsg/digital-in-2017-western-africa
The Growth of Mobile in Africa

3
Today people want to have all the information they
need literally at their fingertips, in the same manner if
they have a question or complaint they want to voice
it as soon as possible. Enter the world of our new
age mobile phones, the device that allows us to have
instant gratification for numerous needs. This has led
to a change in how companies need to treat their
customers as their customers now have access to
them 24/7. Social media allows customers to provide
feedback, ask questions and vent frustrations at any
time of the day or night, it also means that the customer
wants feedback as instantaneously as possible.
Using the Conversocial custom built Twitter Tracker
we analysed the Twitter activity of 5 banks in 3 African
countries (South Africa, Kenya and Nigeria) who have
the largest Twitter following.
We measured:
• What volume they are seeing on a hourly basis
• How responsive the Twitter account is
• How long on average they take to respond
• Whether the operation strives to achieve
in-channel resolution
• Whether the company shows proactive support for
service over social*
*we used the Twitter Search API to find mentions (up to 2001 max) of each
Twitter handle in April 2017. We then gathered and matched the replies to
those mentions and calculated the time taken in each case, excluding the
slowest 5% of tweets (which can otherwise disproportionately affect results).
Financial Institutions Performance Report
RESPONSIVENESS
Making service on social channels accessible and known
If a brand preaches to have a Social First policy and
wants their customers to know that they value that
channel as a way to reach out and hear what they
have to say, then they need to ensure that they are
responsive to the messages coming through on that
channel. For a customer is it comforting to see timely
responses and regular interaction on a brand’s social
channel. Seeing how responsive a brand is and how
they value
their customer’s feedback builds confidence and has
the potential to evoke brand loyalty.
Among the banks analysed the responsiveness
average is 31.83% , this indicates that the banks know
that social is an important channel and the majority
of the banks have prioritised Social Customer Care
within their Customer Care department. Overall the
top bank in each country was FNB (South Africa) with

72,2% responsiveness. They surpassed all the other
South African banks analysed by close to 50%. The
most responsive bank in Kenya was Equity Bank Kenya
71.6%, they also far surpassed their competitors with
the next most responsive bank being I & M Bank at
32.6% . Banks in Nigeria are not as responsive as their
counterparts, the most responsive bank being Diamond
Bank with only 57.9% responsiveness. Overall the
least responsive bank is First Bank Nigeria with a 4.6%
responsiveness rate.
OVERALL RESPONSIVENESS %
SA BANKS RESPONSIVENESS %
KENYAN BANKS RESPONSIVENESS %
NIGERIAN BANKS RESPONSIVENESS %
@
imbankke@
Nedbank
@
CapitecBankSA
@
ABSA
@
standardbankZA
@
rbjacobs
@
diamondbankhelp
@
accessbank_help
@
zenithbank
@
gtbank_help
@
rbjacobs
@
imbankke
@
StanbicKe
@
chasebankkenya
@
KeEquityBank
@
KCBGroup
@
StanbicKe
@
chasebankkenya
@
KeEquityBank@
KCBGroup
@
diamondbankhelp
@
ABSA
@
standardbankZA
@
CapitecBankSA
@
Nedbank
@
gtbank_help
@
zenithbank
@
accessbank_help
80%
70%
60%
50%
40%
30%
20%
10%
0%
80%
70%
60%
50%
40%
30%
20%
10%
0%
80%
70%
60%
50%
40%
30%
20%
10%
0%
80%
70%
60%
50%
40%
30%
20%
10%
0%

AVERAGE SPEED OF RESPONSE
Leveraging social’s public nature to maximize brand equity
The first step of social customer care is message
acknowledgement AKA responsiveness, letting the
customer know that you are aware of the message
and will get back to them as soon as possible.
Thus showing that the speed of response is a key
component to maintaining customer satisfaction. Even
when a query is not able to be resolved immediately it
is imperative that a customer care agent acknowledges
the message and lets them know that they are working
on a solution.
The industry average response time for all banks is 1hr 28 min, clearly the Kenyan banks place priority on
responding to customers as soon as possible, as on average they are more than an hour faster to respond to
customers than a South African or Nigerian bank.
OVERALL 1hr 28 min
SOUTH AFRICA 1hr 54 min
KENYA 1hr 55min
NIGERIA 56 min
NEDBANK @Nedbank 12 min 16 s
FNB @rbjacobs 1hr 29 min
ABSA @ABSA 2hr 20 min
CAPITEC @CapitecBankSA 2hr 25 min
STANDARD
BANK
@standardbankZA 3hr 6 min
KCB GROUP @KCBGroup 6 min 35 s
CHASE BANK @chasebankkenya 43 min
I&M BANK @imbankke 44 min 37 s
STANBIC BANK @StanbicKe 1hr 31 min
EQUITY BANK
KENYA
@KeEquityBank 1hr 38 min
ACCESS BANK @accessbank_help 24 min 20 s
DIAMOND BANK @diamondbank_help 59 min 45 s
ZENITH BANK @zenithbank 58 min 25 s
FIRST BANK @firstbankgr 1hr 15 min
GUARANTY TRUST @gtbank_help 4hr 19 min
OVERALL AVERAGE RESPONSE TIME
AVERAGE RESPONSE TIME SOUTH AFRICA AVERAGE RESPONSE TIME KENYA
AVERAGE RESPONSE TIME NIGERIA

INDUSTRY LEADERS
Going above and beyond customer expectations
We all work hard for our money and then we give it to
the banks to take care of. we do not often see it again
until we need it or if we have a problem or a question.
Finances are a sensitive subject and customers with
queries want quick responses else they get antsy and
often feel insecure. It is important that financial services
companies instil a sense of trust and confidence in
their customers. One way of doing this is to have
speedy response times to customer queries. One way
to achieve this is to have a dedicated Social Customer
Care team.
Looking at the overall data, Kenyan banks on average
are the most responsive by responding to 73% of their
messages in under 1hr, closely followed by South Africa
at 69%. Nigerian banks on average only reply to 63% of
their messages in under an hour.
Nedbank is the most responsive bank in South Africa,
leading the way with a 92% response rate. Standard
Bank and ABSA both reply to 72% of their messages in
under an hour while FNB is the slowest and only replies
to 49% of their messages in less than 60 minutes.
OVERALL % RESPONSIVENESS UNDER AN HOUR SA BANKS % RESPONSIVENESS UNDER AN HOUR
80%
70%
@rbjacobs
@ABSA
@standardbankZA
@Nedbank
@CapitecBankSA
100%
90%
60%
50%
40%
30%
20%
10%
0%
80%
70%
SOUTH AFRICA
KENYA
NIGERIA
100%
90%
60%
50%
40%
30%
20%
10%
0%

Kenya leads the group of all financial institutions
analysed. It is KCB Group who gives the Kenyans the
advantage by responding to 99% of all messages within
1 hour. Standard Bank Kenya is the next bank with the
highest response time at 79%, this is 20% lower than
the leader in the group. They are closely followed by
I&M Bank and Chase Bank Kenya at 76% and 73%
respectively, indicating how competitive the Kenyan
financial industry is and how much the top banks value
customer care.
Overall, responding in under an hour does not seem to
be a priority for the Nigerian banks. Access Bank is the
most responsive in under an hour at 87%, Zenith Bank
follows at only 64%.
80%
70%
@KCBGroup
@KeEquityBank
@chasebankkenya
@imbankke
@StanbicKe
100%
90%
60%
50%
40%
30%
20%
10%
0%
80%
70%
@gtbank_help
@zenithbank
@accessbank_help
@diamondbankhelp
100%
90%
60%
50%
40%
30%
20%
10%
0%
KENYA BANKS% RESPONSIVENESS UNDER AN HOUR NIGERIA BANKS % RESPONSIVENESS UNDER AN HOUR
VOLUME MANAGEMENT
How to remain human as social customer service scales
In order to start mapping the stages of your customer
lifecycle is it important to understand social volumes
in terms of both quantity and content. Knowing the
quantity and content allows you to connect the dots
between the context and channel preference. An
example of a way to do this would be to calculate the
percentage of customer service issues compared to
the total number of social inbound messages, tally
the messages by the categories they fall into and the
platforms they are using to contact you.
It is difficult to understand what a change in handling
or response time means unless you can match them to
the shifts in volume over the various social channels.
Measuring metrics and performance against an SLA
in real-time is important because if there is a sudden
spike you know to shift resources accordingly to the
relevant channel to maintain the SLA. This is relevant to
banks especially if there is a suspected case of fraud,
hacking or service changes.

In all countries, the per hour mentions double the
amount of responses. South Africa and Nigeria receive
the most mentions per hour, South Africa makes the
most replies per hour.
FNB replies to almost as many messages as they
receive per hour. Standard Bank receives the most
messages; however, they are not very responsive.
On average the South African banks receive 4.46 @
mentions per hour and only reply to 1.78 per hour.
OVERALL AVG. @MENTIONS & RESPONSES
KENYA
SOUTH AFRICA
NIGERIA
The KCB Group receives almost double the @mentions
per hour than any other group, however they reply to
less than a quarter of those messages per hour. Equity
Bank Kenya replies to almost all the @mentions within
the hour.
GT Bank receives the most @mentions and replies
the most among the Nigerian banks. On average
Zenith Bank receives 5.7 messages per hour and only
replies to 1.5. Diamond Bank has the closest receive to
respond ratio at 2.2 to 1.6, however this is small scale
and is still only around a 60% response rate.
8
7
6
5
4
3
2
1
0
8
7
6
5
4
3
2
1
0
8
7
6
5
4
3
2
1
0
8
7
6
5
4
3
2
1
0
AVG @ MENTIONS PER HOUR AVG RESPONSES PER HOUR
AVG @ MENTIONS PER HOUR AVG RESPONSES PER HOUR
SouthAfrica
Kenya
Nigeria
@rbjacobs
@diamondbankNG
@gtbank_help
@czenithbank
@accessbank_help
@KCBGroup
@KeEquityBank
@chasebankkenya
@StanbicKe
@imbankke
@standardbankZA
@ABSA
@CapitecBankSA
@Nedbank

4The importance of Social Customer Care
Social media has changed the way that brands interact
with their customers and how customers choose to
interact with brands.
Today’s customers and especially the millennials want
to be connected and all interactions with a brand
need to be relevant and easy. They expect a prompt
response and do not have the patience to wait more
than an hour or so for feedback. Their brand loyalty is
fickle and they will jump between brands as fast as it
can take the competitor brand to notice a problem and
solve it with their solution or product. This means that
brands need to be on top of their game and implement
a Social Customer Care plan that is efficient, relevant
and proactive.
In a recent McKinsey report, it was noted that
customers who start and end a customer service
journey within a single channel have a higher
satisfaction rate than those who are deflected to
another channel along the way to query resolution.
6 Customers nowadays have become accustomed to
fast, “in-the-moment” Social Customer Care and expect
fast resolution on the channel that they selected to
facilitate communication.
Overseas many companies have heavily reduced
investment in staffed client service phone and call
centres in favour of adding additional resources to
a dedicated team focusing on social media. These
companies understand that their customers are on
social media sites and have selected these platforms
as a communication tool to voice their opinions
about products or services, complain about issues
and engage in general conversation about a brand.
Companies who do not have a solid Social Customer
Care plan are at a high risk of losing customers and
entering a realm of negative market share. 7
In South Africa more and more companies are
identifying the urgent need to implement a Social
Customer Care strategy. More resources are being
added to contact centres with the mandate to focus on
Social Customer Care, the social engagement role that
was previously in marketing departments has shifted
departments. The importance of a single customer view
has become more apparent and social engagement
tools like Conversocial are being used to monitor
current social customer interactions, view their history
and customer behaviour as well as to keep records
of important customer information. Further to this you
can mark sentiment and add tags thus resulting in
robust analytics and data that the company can use to
make rich data based decisions for brand, product and
company improvements.
Overall Social Customer Care is another way a brand
can improve the way their customer perceives them.
It allows the brand to have a platform to respond to a
question or rectify a problem quickly and efficiently. If
it is not able to solve a problem quickly, the platform
can still be used to keep the customer notified and
informed, thus maintaining open communications and
a sense that the customer really is important. After
all that really is all that the customer wants, to feel
important and that they have a personal direct line of
communication with a brand who wants to hear from
and help them.
6 Conversocial Social Bind: Solving Channel Deflection through Social Authentication - http://www.conversocial.com/social-authentication
7 The Critical Importance of Social Customer Care - https://www.clickz.com/the-critical-importance-of-social-customer-care/96969/

5
Company Handle Responsiveness Mean Response
Time
Av Responses
per Hour
Av @mentions
per Hour
Responses
Under 1hr
Fastest
Response
Slowest
Response
@rbjacobs 72.20% 1hr 29 mins 3.9 4.7 49.20% 25 secs 3 days 1 hrs
@standardbankZA 25.30% 3hr 6 mins 1.3 5.3 71.70% 40 secs 2 days 3 hrs
@ABSA 26.50% 2hr 20 mins 1.6 5.3 71.90% 27 secs 2 days 18 hrs
@CapitecBankSA 25.20% 2hr 25 mins 1.2 3.5 60.90% 49 secs 3 days 20 hrs
@Nedbank 24.80% 12 mins 16s 0.9 3.5 92.00% 60 secs 11 hrs 41 mins
@gtbank_help 31.80% 4hr 19 mins 3.6 6.9 45.10% 22 secs 6 days 1 hr
@zenithbank 19.10% 58 mins 25s 1.5 5.7 64.20% 39 secs 1 day 15 hrs
@accessbank_help 47.10% 24 mins 20s 1.1 2 87.10% 32 secs 8 hrs 53 mins
@firstbankngr 4.60% 1hr 15 mins 0.2 2.8 53.80% 3 min 23sec 12 hrs 23 mins
@diamondbankhelp 57.90% 59 mins 45s 1.6 2.2 62.00% 58 secs 20 hrs 21 mins
@KCBGroup 15.80% 6 mins 35s 1.2 7.5 98.60% 55 secs 5 hrs 14 mins
@KeEquityBank 71.60% 1hr 38 mins 3 3.7 37.00% 1 min 2 secs 1 day 17 hrs
@chasebankkenya 8.90% 43 mins 0.1 1 72.70% 44 secs 17 hrs 26 mins
@StanbicKe 14.00% 1hr 31 mins 0.1 0.5 78.90% 1 min 2 secs 7 days 1 hr
@imbankke 32.60% 44 mins 37s 0.2 0.4 75.60% 1 min 9 secs 2 days 21 hrs
Appendix
KENYANIGERIASOUTHAFRICA
To help you exceed industry highs in customer
engagement, reach out to one of our social experts
here at WhySatisfy.

African commercial banks social benchmark report

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