Views, insights and more pertaining to the banking and tourism industries in 2015. Future trends for social media in 2015 included.
Disclaimer: Views of the author are personal, and are not linked to any corporate organization.
3. What is Social Media?
3
Platform where
people
communicate and
interact online
People engage in a
social context, e.g.,
conversations,
commentary, user-
generated
comments
Powerful customer
engagement
engine and web
traffic driver
4. The Magic âCâ
âContent isn't king. If I sent you to a desert island and gave you the choice of taking your friends or
your movies, you'd choose your friends â if you chose the movies, we'd call you a sociopath.
Conversation is king. Content is just something to talk about.â
Cory Doctorow
Social Media adds
scale to WOM, making
MASS DISCOVERY
possible
4
5. The Magic âEâ
5
Empathy
Engagement
A brand, in its quest to increase
engagement, starts running contests with
very little resonance to the
emotional/social dimensions of its
consumers.
What this eventually leads to is a
transaction-based relationship where
consumers are more focused on what
goodies they can win from the brand
versus genuine dialogues.
A look at engagement levels on Twitter
and Facebook for brands is evidence
enough of this disconnect.
Going Social is not as easy a decision as
âletâs do Facebook, Twitter & Instagramâ.
It is about relating to your consumer in the
language he understands and building
strong relationships through sustainable
communication.
It is about building empathy.
7. Sector-wise Stakes - BFSI
Banks and other financial institutions are generally apprehensive about maintaining a social media presence
PRIVACY SECURITY
Image Credit: Forbes
REGULATIONS REPUTATION
9. Sector-wise Stakes - BFSI
ďľ Why should banks and other financial institutions use social media?
9
Gen Y customers have
different expectations
from banks and how
they want to engage
with them
These customers are
far more likely to trust
their friends and
acquaintances for
advice on products
and services
10. Sector-wise Stakes - BFSI
ďľ BFSI total online ad spend INR 330 crores in 2014
ďľ BFSI social media ad spend INR 60 crores in 2014
ďľ Social media spend 18% of total online ad spend
193
271
330
0
200
400
FY' 2012 FY' 2013 FY' 2014
BFSI Online Ad Spends
INR (Crores)
Source: IMRB International Estimates
Social Media Channel Strength Across Competitors
Twitter: ICICI, HDFC, Yes Bank
Facebook: ICICI, HDFC, Axis Bank
YouTube: ICICI, HDFC, Axis Bank
LinkedIn: SBI, ICICI, HDFC
Observations show that ICICI and HDFC are consistently
strong across Facebook, Twitter and YouTube by keeping
their fans engaged with relevant content as well as by
having solid ORM processes in place â however, what is
lacking is content that creates meaningful conversations!
11. HDFC Bank
11
@HDFC_Bank: Disseminate information
regarding products and services
@HDFCBank_Cares: Address customer complaints
and suggestions
HDFC Bank uses Twitter effectively â with two distinct handles that help them better govern
their engagement levels with their fans and customers
12. ICICI Bank
12
These are excellent initiatives and a right step in the
direction of evolving into a âSocial bankâ!
On Facebook, ICICI Bank has launched an
app called âPocketsâ
Pockets allows users to perform several banking
and non-banking functions such as buying
movie tickets and transferring funds to
Facebook friends
ICICI Bank has also been using Twitter to
showcase its CSR efforts under the hashtag
#MyCleanIndia
Like HDFC Bank, ICICI Bank too uses two
Twitter handles to better govern its
social media interactions
On YouTube, ICICI has posted a video
highlighting their Expressions card
service â which allows customers to
design their own debit card with a picture
of their choice
13. Share of Voice â BFSI
SBI
9%
ICICI Bank
26%
HDFC Bank
30%
Axis Bank
14%
Yes Bank
10%
Kotak Mahindra
5%
IDBI
4%
Others
2%
SHARE OF VOICE
SBI ICICI Bank HDFC Bank Axis Bank Yes Bank Kotak Mahindra IDBI Others
According to Simply360, as of July 2014,
HDFC was the most talked about bank in
the digital space â and the top 3 banks
accounted for 70% of all online buzz
SOV is highly dynamic, as seen in the
case of YES Bank which led the SOV figures
in April 2014 owing to the visibility it got
from the IPL
14. Sector-wise Stakes - Travel
14
Travel and tourism has
traditionally been a
business that mainly
depended on reviews,
recommendations and
experience shares
through WOM
More recently however, with the advent of the
social media age, travel companies are turning
to platforms such as Facebook, Twitter,
YouTube, TripAdvisor, etc. to attract people to
their product/services
TripAdvisor allows users to sync their profiles
with Facebook, and share their reviews and
experiences with others. This allows people to
see where their friends have traveled, stayed,
eaten and so on, and consequently plays an
integral role in influencing their travel plans
According to a Social Samosa report, more than
80% of consumers said that they trust
recommendations & suggestions of their social
media friends and followers more than any
other platform of advertising
15. Kerala Tourism
Kerala Tourism uses Facebook to reach out to
over 1.1 million fans who receive daily
updates about what to do in the state â food,
temples, photographs â itâs all there!
They also use YouTube with great effect to
provide their subscribers access to a series of
well made destination mini documentaries
15
16. Incredible !ndia
16
The Incredible !ndia
campaign is a great example of
how print and video were used to
create a visually stimulating
image of India as a high end
travel destination â the campaign
resulted in a 16% increase in
tourist traffic in the first year itself
Source: Incredible India
17. Airbnb
17
âI think for us to say weâre not concerned or focused on Airbnb, would
be very short-sighted,â - Simon Turner, President of Global
Development at Starwood Hotels and Resorts
Customer experience and community are critical
to Airbnbâs success
It uses Facebook and Twitter extensively to be a part of the
social conversations of travelers
Valuation USD 10 Billion
Founded
August 2008
Authentic
Community
Airbnb Stories
Facebook
Google+
Twitter
YouTube
Tips
Experiences
Fun Questions
182
countries
IHG and
Starwood
executives
are worried
about
Airbnbâs
disruptive
impact on
their market
share!
Sources: Skift, Hootsuite
18. Sector-wise Stakes - Travel
In 2014, the travel industry in India
spent INR 303 crores on online ads
210
271
303
0
100
200
300
400
FY' 2012 FY' 2013 FY' 2014
Travel Online Ad Spends
INR (Crores)
Source: IMRB International Estimates
Desktop
67%
Mobile
33%
Social Media Spend by Channel
in 2018
Desktop Mobile
Desktop
86%
Mobile
14%
Social Media Spend by Channel
in 2014
Desktop Mobile
Social media mobile ad spend is
set to more than double over the
next 4 years!
Of which approximately INR 47
crores was allocated to social media
advertising
19. Share of Voice â Travel
Airlines
56%
Travel Review Sites
11%
Online Travel
Companies
25%
Hotels
8%
SHARE OF VOICE
Airlines Travel Review Sites Online Travel Companies Hotels
Airlines are the most talked about in the
digital space , followed by OTCs such as
MakeMyTrip and Cleartrip
However, this is set to change â OTCs will
command a greater SOV as more people get
online, go mobile and search for better deals or
âcouponingâ across platforms e.g. Skyscanner
This trend is already seen as in the case of
Airbnb, which offers travelers an opportunity
to experience more âauthenticâ and âuniqueâ stays
at the destinations of their choice at affordable
and diverse tariffs
21. Social Media Impact â Case Study
Club Mahindra â âVerse-a-Tileâ
⢠The true power of social media is in its innate ability to
collaborate and crowd-source. Club Mahindra wanted to tap
into these very attributes, and harness and maximize them for
their campaign . This inspired them to launch Verse-a-tile, a
crowd-sourced travel and holiday poem
⢠The campaign leverages Twitter to source the âversesâ and
converges them into âtilesâ on a website specifically created for
the contest (www.verse-a-tile.in)
Source: www.indiasocial.in
22. Social Media Impact â Case Study
Club Mahindra â Strategy
⢠From a strategic perspective, Club Mahindra wanted to do
something innovative and novel to grab the attention of
the audience and increase interest and engagement through
the contest.
⢠Objectives: Ensure maximum participation, engagement and
reach, which would then lead to an increase in follower
count.
⢠The duration of the campaign was 25 days.
⢠The primary budget & resource allocation was towards
creating an attractive micro-site that would excite,
encourage participation and communicate the intent of the
contest.
Source: www.indiasocial.in
23. Social Media Impact â Case Study
Club Mahindra â Stakeholders
⢠The stakeholders were the audience on Twitter,
specifically the travel and holiday community
⢠Through regular engagement and past experience, Club
Mahindra found that the Twitter audience was more engaging
and participating
⢠The campaign leverages Twitter to source the âversesâ and
converges them into âtilesâ in a website specifically made for
this contest
⢠The participants not only retweeted entries by others, but also
commended the contest and its uniqueness
Source: www.indiasocial.in
24. Social Media Impact â Case Study
Club Mahindra â The Initiative
⢠A stand alone microsite was created for Verse-a-tile. This microsite
explained the rules of participation to users
⢠Club Mahindra wanted to make sure that this site was visually
appealing, and exciting enough to make people want to participate.
That fuelled the idea of the âtileâ. Each winning entry would fill up a
tile in a grid
⢠The contest started with Club Mahindra giving the first line of the
poem. Subsequently, users were asked to come up with a new line
each day. Out of all the entries, one line was selected each day by an
internal jury and put up on the microsite
⢠Hence, the community could actually see the poem getting
completed before their eyes. This immediate gratification
proved to be extremely powerful in the scheme of things
Source: www.indiasocial.in
25. Social Media Impact â Case Study
Club Mahindra â Impact
⢠The campaign ran for 25 days (it was a 24 line poem). Club Mahindra
received more than 3000 entries from around 350
participants.
⢠Although not their primary objective, the campaign also helped them
add close to 500 new followers on Twitter. To put it in perspective,
it took them 3 months to add 500 followers before, and this campaign
alone helped them add 500 new followers!
Source: www.indiasocial.in
27. Insights 2015
27
Pinterest
Repost Content
Instagram
Generate New Content
Geolocation
Real Time Tracking
⢠Powerful visual platform
⢠Useful for promoting tangible products from sectors
such as e-commerce and auto as well as non-tangible
services such as in the travel sector
⢠Low entry barriers
⢠New and original content
⢠Photo contests drive higher engagement levels
⢠Location based marketing
⢠Tied to consumer behavior
⢠Checking out is in, checking in is out â consumer
preference for location based push content:
Foursquareâs latest iOS version relies on this
⢠Geo-targeting power: 72% say that they would
respond to calls-to-action within sight of a retailer
28. Insights 2015
28
⢠Social analytics will evolve from focusing on technical metrics (reach, impressions, views) to
behavioral metrics(conversions, sign-ups, adoption, advocacy). Industries will move past
existing real-time social analytics dashboards, and start to use predictive analytics based on
past events
⢠Social storytelling will gain in prominence as brands try to create a greater emotional connect
with their target audience and weave in their products seamlessly
⢠Influencer-driven campaigns are likely to dominate new product launches, brand awareness
building and brand advocacy
⢠Social campaigns will evolve into social movements with the increased use of social tagging
and hashtags
29. Insights 2015
29
⢠Content co-creation on social media will be further experimented on as an engagement
driving strategy as brands seek to enhance consumersâ experiences of quizzes, contests, etc
on their respective social media platforms
⢠As mobile penetration increases, so will multi-screening marketing opportunities
⢠Wearables will become increasingly popular, and complement existing and new social media
platforms, for eg, Google Glass, smartwatches
⢠Geo-based marketing will become more important as competition gets fiercer, and brands try
to outdo each other through geo-fencing, geo-awareness and geo-conquesting strategies
30. Insights 2015
30
Brands are trying to use social
media channels to sell directly
to users
Twitter and Amex are
developing their own
platform that will allow
people to buy products
with just a Tweet
Facebook,
Instagram and
Pinterest are also
looking at similar
platforms!
Third party programs, such as
Gumroad, allow you to add a
shopping cart just about anywhere
you can imagine!
Their first notable effort gave users
the ability to make purchases with a
Twitter-synced American Express card
and tweeting with a specific hashtag,
such as #BuyXBoxController.
E-commerce giant Amazon also has
hashtag-based integrations with
Twitter. When a user puts #AmazonCart
in a reply to a tweet that includes an
Amazon product link that product is
added to his or her Amazon cart.
Similarly, using #AmazonWishList in a
reply adds items to a userâs wish list on
the site.
31. Insights 2015
31
Social
Analytics
ROI analytics
expenses to
increase by 60%
in 2015
Video will
dominate
marketing
strategies
over text and
images
Affinity based
marketing â
hobbies,
interests,
professions,
etc
Increase in
digital
marketing
tools
Social
Analytics
Usage of
âbotsâ to
engage TA in
interactive
sessions
Leads
generation
based on
social chatter
Predictive
Analytics
Business-
based
relevant
metrics
33. Lenovo Vibe X2 #VibeUpMyLife
⢠For the launch of the worldâs first layered phone
in India, the Lenovo Vibe X2, the phone maker
launched a 72-hour art-a-thon campaign called
#VibeUpMyLife.
⢠The campaign roped in 10 RAD artists who
challenged users to have them add any layer to
their photos, in real time.
⢠User challenges poured in on Facebook and
Twitter, while the artists added romance, mystery,
adventure, funk, masti and more.
⢠The vibed-up photos were shared with the users
as well as featured on the microsite.
Source: lighthouseinsights.in
34. Cadbury Celebrations #LeChaloKhushiyan
⢠This Diwali, assorted chocolates brand Cadbury
Celebrations decided to make it a special one for the
Indian Army.
⢠It launched the #LeChaloKhushiyan campaign where
Diwali wishes from all over the country were sent out
to 3 different army bases.
⢠People were engaged on the social media front; the
vans filled with Diwali wishes were fueled by tweets
having the hashtag #LeChaloKhushiyan.
⢠Every movement of each van could be tracked via a
Facebook app till it reached its destination.
Source: lighthouseinsights.in
35. Lonely Planet âIndia Unexploredâ
⢠Lonely Planet India launched a 45-day digital
campaign called âIndia Unexploredâ along with
Skyscanner, a leading global travel search site.
⢠The idea was to find the yet undiscovered, lesser
known places in the country with the help of
travel enthusiasts.
⢠People could submit their discoveries of lesser
known destinations under special themes and win
big, with the only criteria that the place is listed
on Google maps.
Source: lighthouseinsights.in
37. Digital Earth
37
Total World Population
⢠7.2 Billion People
⢠53% Urbanization
Active Internet Users
⢠3 Billion People
⢠41% Penetration
Active Social Media Accounts
⢠2 Billion People
⢠28% Penetration
39. Digital Earth
39
56%
34%
44% 7%
24%
44%
33%
7%
5% 43%
26%
44%
NORTH AMERICA
CENTRAL AMERICA
SOUTH AMERICA
WESTERN EUROPE
AFRICA
MIDDLE EAST
SOUTH ASIA
OCENIA
SOUTH EAST ASIA
EAST ASIA
CENTRAL ASIA
CENTRAL &
EASTERN EUROPE
SOCIAL MEDIA PENETRATION BY REGION
BASED ON ACTIVE USERS OF THE LARGEST ACTIVE SOCIAL NETWORK IN EACH COUNTRY
41. Major Events & Trending Discussions in 2014
⢠FIFA World Cup 2014
⢠Disappearance of Malaysia Airlines Flight MH370
⢠Ebola Outbreak
⢠iPhone 6
⢠Brazilian Presidential Elections
⢠Ice Bucket Challenge
⢠Robin Williamsâ suicide
⢠Winter Olympics Sochi 2014
⢠Islamic State of Iraq & Syria (ISIS)
⢠IPL 2014
⢠General Elections in India 2014
⢠Gaza conflict
⢠Mars Orbiter Mission (MOM)
43. Look Up by Gary Turk
43
To the average viewer,
the video earnestly
recommends giving up a
pseudo-social life for the
real thing, like old times.
To a social media
manager, however, the
video gives a valuable
insight â look at the
engagement metrics: a
staggering 48.5 million
views, over 450,000 likes,
and more than 47,000
comments!
Why?
Storytelling
Empathy
Emotional Connect