Social Media

Presented By:
Deepali Bhardwaj
What Is Social Media
 Social media: Online platforms and tools to share
opinions, experiences, feedback etc
 Web 2.0 (rich media, interactive & user directed) and
User Generated Content

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5 Key Elements Of Social Media
Participation: Social media persuades contributions and
feedback from everyone who is interested
Openness: Most social media services are open to feedback
and participation
Conversation: Compared to Traditional media, Social
media is better, because it allows two-way conversation.
Community: SM allows communities to form quickly and
communicate effectively. Communities share common
interests, such as a love of photography etc.
Connectedness: Most kinds of social media thrive on their
connectedness, making use of links to other sites, resources
and people
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 Types Of Social Media
 Kaplan and Haenlein in 2010 defined Social Media
as 6 types:
Collaborative projects (e.g. Wikipedia)
Blogs and micro blogs (e.g. Twitter)
Content communities (e.g. Youtube)
Social networking sites (e.g. Facebook)
Virtual game worlds (e.g. World of Warcraft)
 Virtual social worlds (e.g. Second Life).

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 Case Discussion: Banking on Social
Media

What Were The Advantages For FNB Bank In

Using Social Media?
Other Benefits Of Social Media For
Business

• Social networking sites link people through mutual business

or personal connections – build communities
• Mine friends / connections for sales opportunities, job-
hunting
• Internal customer management

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 Case Discussion: Banking on Social
Media

Social Media being an IT driven solution,

what challenges FNB facing with its
adoption?

What advantages did already exist with FNB

to counter this challenge
 Case Discussion: Banking on Social
Media

What were their plans to mitigate the

challenges faced
FNB’s Strategy to Counter Competitive
Challenge On Social Media
• Objective : Reduce Operational Costs and Increase
Customer base
• Singular SM presence
• Fewer Platforms
• Formal SLAs with BUs
• Humanize the bank brand through use of Persona
• Metrics Management
• Organization Structure changes
• Stakeholder engagement – created brand ambassadors
• WoM buzz

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 Social Media Strategy
• Define Objectives
• Identify Audience
• Content strategy to engage target audience
• Communication plan
• Shd also be consistent with msgs sent by other channels
• Integrate Social Media with other strategies & functions
• Clearly defined Processes , Structure and Responsibilities
• Feedback and Complaints handling mechanism
• Define Metrics Identification & measurement approach
• Management reporting
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 Case Discussion: Banking on Social
Media

Why have a separate plan for every platform?

 Popular Platforms Of Social Media
Facebook:
 Used to connect with Fans

 Open Discussions
 Sharing stories, ideas, suggestions
 Build relationships

Twitter:
 For transactional interactions
 To address complaints, answer queries etc.

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 Popular Platforms Of Social Media
YouTube:
 Informational videos

 Connecting with viewers, followers

Instagram
 Leverage impact of visual - photographs & videos to
connect with audience

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 Case Discussion: Banking on Social
Media

What preparation did FNB had to do in order to

adopt multiple platforms
Social Monitoring, Metrics & Analytics
• Select the right metrics for Social Media
• Analyze regularly
• Regular reporting to management
• Use paid and free tools for monitoring and analysis
• Radian6, Hootsuite, Simplyfy360
• Social Mention, Klout, Twitter Search, Google Alerts

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 Metrics Analysis
• Leads : potential conversions
• Reach : no of umber of unique persons who received the
post
• Impressions : number of times a post from your Page is
displayed

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 Metrics Analysis
Applause Rate :
• Applause rate gives you an idea of what and how much does
the audience like your content
Applause Rate = # of Likes Per Post
For a campaign, it will be = Total number of Likes
(Favorites on Twitter) / No. of Posts
E.g. 55 / 12 = 4.58
Conversation Rate :
• Conversation Rate = # of Audience Comments (or
Replies) Per Post
For a campaign, Conversation Rate = Total no. Of Audience
comments / Total no. of posts

•
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 Metrics Analysis
Amplification Rate
• It is the rate at which your followers take your content
and share it through their network
Amplification Rate = # of Shares per Post
For a campaign, it will be = Total number of Shares
(ReTweets on Twitter) / No. of Posts
E.g. 14 / 12 = 1.16
Engagement Volume (Also known as Engagement
Levels)
• Includes
total raw count of Likes, Shares, Retweets and
Comments and these represent impact
 

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 Metrics Analysis
Engagement Rate:
• Is calculated as engagement volume divided by the
number of users or posts that could have triggered the
action
E.g. 320 / 3000 = .106 = 10.6%
Sentiment Ratio and Analysis
• Gives the ratio of positive mentions to those that are
negative
• Sentiment Analysis is analyzing every post (positive and
negative) for the content to understand the sentiments
and views of the customers
 
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Q&A