2014

Effective use of Social Media

Tejal Kaur Arora MM-A, Roll# 5

3/15/2014

EFFECTIVE USE OF SOCIAL MEDIA

MAX BUPA
Agency Name Iffort Introduction Indias premier health insurance company, Max Bupa now services hundreds of customers daily using its Facebook engagement platform Get Help. Get Help is one of a kind customer service platform which helps users to get services at their fingertips right from Facebook. Objective Through this initiative, Iffort has helped Max Bupa to take the lead to transform the perception of insurance as a complex product by using the most interactive social media platform to drive conversations on the category. Max Bupa has been able to strengthen its online presence to reach out to its customers. Execution Get Help is a first of its kind engagement platform by a health insurer on Facebook to reach out to its customers and be present wherever they are. This innovative platform enables customers to buy a health policy from their Facebook account, interact and share their experience with Max Bupa and also get instant customer service at their convenience from anywhere, anytime. Get Help offers instant response to health insurance related information on products, service requests, queries related to policy purchase, renewal, claims, loyalty benefits and premiums. It enables customers to get a call back within seconds of posting a request and provide them the option to share feedback and get response within 24 hours. It also allows them to access information related to hospitals in Max Bupas network. Committed to making quality Health Insurance more accessible to customers, Max Bupa is using technology to deliver Health Insurance to

customers within minutes, at the click of a button, from the comfort of their home. Results

Increase in positive conversations with complaints decreasing by more than 60%. The application serves to 1,60,000 fan-base of Max Bupa. More than 1200 customers accessed and availed the services from Get Help. Turn around time has decreased by 50% since the steps to reach out to the customer support were decreased.

 TESCO HSC
How Tesco HSC Raised Money on Social Media With #SpreadCheer Introduction The festive season and the New Year is a time for giving and sharing. Tesco HSC tapped into their online followers collective conscience and passion to raise funds for charity through a social media campaign called #spreadcheer. For every like and share of the community initiatives by followers, Tesco HSC gave back INR 10 to a cause they supported.

Tesco HSC is an integral part of Tesco PLC, a leading global multichannel retailer. Tesco HSC builds world class technology products and platforms, design stores and manages finance and retail operations. Objectives The objectives of the campaign were two-fold. It was keen on energizing employees and exciting followers online through the impact they were making on the communities. This be the first of such a campaign run by Tesco HSC to promote its community work using social media and also to garner support for charity.

In late January, Tesco HSC was participating in the Oxfam Trailwalkers event which expected teams from organizations to walk 100 kilometers in 48 hours. This campaign also tied in with the event and helped to continue the engagement.

With over half a million colleagues worldwide, of which about 6500 work out of the HSC offices in India, the potential to spread cheer was enormous. Execution

#Spreadcheer campaign was conceptualized and run entirely by the HSC Corporate Communications team for the colleagues internally and externally for all the followers on social media channels. The campaign hashtag invited employees and followers to go online and spread the word. The content

strategy included re-purposing updates that many followers would have missed during the course of the year. It served up the best moments and key milestones while engaging readers to share and have a conversation on the topic of giving. They were invited to read up more on the best programs run in 2013 and the impact, reach and value.

Tweets were shared via the @Tesco_HSC handle as the campaign progressed. There were frequent updates on the organizations participation in the Oxfam Trailwalkers event and the teams training run-up. Results Through the campaign Tesco HSC reached over 26,000 people on Facebook and generated 647 likes, 33 shares and 21 comments for 23 posts shared. Tesco

HSCs Facebook page doubled in terms of overall likes from the previous month! The campaign raised about INR 7000+ in a span of two weeks based on the shares and likes we counted.

Thats not all, this campaign also got HSC additional visibility via other channels its Linkedin page reached 1600 more people and the 26 tweets from the Twitter account got re-tweeted 40 times. Here is an example of how HSCs community efforts were recognised: @Retailbarcode message on Twitter- great idea! HSC have really changed over the last few years, all for the better, great to see them do this. The power of the collective network and effort worked to make this an effective campaign.

The company contributed funds raised from this campaign to Karunashraya, a charitable trust for cancer patients based at Bangalore.

 ICICI BANK
ICICI Bank launched Pockets by ICICI Bank A first-of-its kind app on Facebook across the globe It enables customers to do a wide range of financial transactions on Facebook Mumbai: ICICI Bank, Indias largest private sector bank, today announced the launch of Pockets by ICICI Bank, an app that enables its customers to carry out a slew of banking services on the social media site, Facebook. A first-of-its kind app on Facebook across the globe, Pockets by ICICI Bank offers the Banks customers the convenience of banking while they are on Facebook. This new app is a natural progression of the Your Bank Facebook app that the Bank introduced last year, enabling its customers to view their savings account details and statements while on Facebook, as well as to order a cheque book and upgrade debit card. Pockets by ICICI Bank offers a bouquet of unique features such as: Split n share: It allows customers to split and track group expenses and share them with friends on Facebook. The app also gives the customer the option of sending messages to remind friends on pending payments. Pay a friend: It allows customers to transfer funds to their friends without knowing their bank account details like account number, bank branch, branch IFSC code etc. Through this facility, customers can create electronic coupons that can be redeemed by their friends on www.icicibank.com Recharge prepaid mobile: Pockets by ICICI Bank lets customers recharge their prepaid mobile instantly, from Facebook itself. Book movie tickets: Users can now plan for their favourite movie with their Facebook friends and instantly book the tickets using Pockets by ICICI Bank. A customer can also carry out a wide range of non-financial transactions through this app. The list includes viewing a summary as well as a mini statement of savings bank account, knowing credit card details and getting demat holding statements. Through this app, a customer can open fixed or recurring deposit, order a cheque book, stop a cheque payment and upgrade debit card.

A customer can access the app by logging in with his/her Facebook user ID, then going to the official ICICI Bank Facebook page (www.facebook.com/icicibank) and clicking on the tab Pockets by ICICI Bank. He will have to register for the application by entering his/her existing debit card number along with PIN number. This will add the application to users profile under the section Apps. During the registration process, the user has to select a new four digit PIN, which can be used for subsequent logins. Pockets by ICICI Bank is developed with robust security features that ensure a safe social banking experience. Security: The app uses 128 bit encryption which keeps customer information safe. Secure browsing: It runs on https making transactions secure. Safe start: Registration of an account is based on the customers debit card number and PIN authentication to avoid misuse. Authenticity of transaction initiation: For each transaction, there is a unique dynamically generated OTP (One Time Password) that is sent to the customers registered mobile number to verify that the transaction is initiated by the customer. Overall Strategy Review: ICICI Bank has been doing an Excellent job with is overall Social Media Strategy! It is one of the few banks from the Indian financial industry to embrace social media in such a nice way to connect with its consumers. ICICIs Social friendly strategy is doing a bang up job of building a community of loyal fans around itself job on three platforms Facebook, Twitter and YouTube. It is innovative in tapping onto new customers in the market.

Platform-wise Strategy Facebook: ICICI Bank goes beyond marketing on its Facebook page. It is not only listening to customers its but also engaging with them with appealing updates like interesting world currency facts, helpful updates, puzzles and quiz, ICICIs offline activities, etc. It is evident that it has very good engagement on its Facebook page.

It is also leveraging Facebook page for Customer Service with a special tab that assists the customer with all the helpful information and customer care numbers. There have been efforts to drive traffic to its website through engaging Facebook apps.

Twitter: ICICIs every tweet has a human touch unlike most other banks who sound like automated answering machines. @ICICIBank_Care is effective in creating and sustaining communication on Twitter.

The way ICICI bank responds to concerns on the spot and encourages interaction in a friendly manner gives it a great networking opportunity and an edge over other financial institutes.

YouTube: There a number of insightful interviews about the economy, financial trends, inside stories, ICICIs offline activities, testimonials, etc. With 118 videos, the channel is rich with noteworthy content on YouTube! Comparison with Competitor: Citi Bank has a small community on Facebook as compared to ICICI bank. Even Citibank is trying to engage its fans with interactive updates, quiz and puzzles but a comparatively smaller size of its community is limiting its engagement.

Source: SImplify360 A Social Media Analytics Tool It was very surprising to find out that all of a sudden Citibank disappeared from Twitter after a very successful #DilVsBill campaign. Citibank had launched a campaign titled Tweet a cloud, Dil Sewhich targeted Diwali shoppers over a weekend, intending to judge the customers sentiments about how they would spend for Diwali. The campaign initiated live Twitter feed under #DilVsBill hashtag, where tweeple were engaged in conversation about their Diwali shopping. It is shocking how brands suddenly vanish after a huge successful campaign.

The Fan of the Month Campaign: The fan of the month campaign is a loyalty programme and an engagement tactic by ICICI bank on Facebook which they have been continuing since 3-4 months.

The application encourages fans to to tell them what they like about ICICI bank. It is a notable way to get valuable insights from customers and acting upon it. The more a fan interacts on the page, more are the chances of him winning the contest. It thus successfully drives engagement and loyalty.

Iwish App The iwish application is another laudable application on the ICICI banks Facebook page which completes the whole digital loop. Users can make a wish, create a goal, choose their avatar and share their goal with family & friends who can contribute and help them achieve their goal faster. For example if you have been planning to own the latest gadgets for months, but find it difficult to save for it regularly then make a wish. iWish is a flexible recurring deposit that helps you deposit money in a fun way for your wishes as and when you have it.

The application strategically taps on the potential customers by offering them a develop a personalized saving plan with a social angle in it. It gains valuable insights about their wishes and drives the traffic to its website. Users are motivated with habit of saving. What is more delightful than a brand rationally helping you to make your dream come true! Comments on Strategy: ICICI banks overall social media strategy is subtly leveraged for customer service, product research, gaining customer insights, marketing and the most important of all building a loyal community.

It is very important of a financial institution to create transparency by winning the faith of its stake holders. By participating in conversations, ICICI bank has closely managed to reach its goal! ICICI bank sets an example of how banks should invest in digital platforms and develop new financial products such that they sow the seeds of Social Banking!