With an aim to grow with the growing channels and popularity of social media, Bank of Baroda entered the digital world. With the help of various resources available, Bank of Baroda gave different avenues to its audience to connect with them. In order to increase the exposure on social media platforms, they kept their customers informed with regular updates regarding new banking products and services. Various innovative tools were put to use to increase traffic, engagement rates and invite potential customers. Keeping up-to-date on social helped them improve sales and generate leads.
The Bank launched its official presence on social media on Jan 1st 2016. It was not the first Public Sector bank to have a social presence. Hence, the Marketing team took a courageous call to tread a different path and have a qualitatively better presence rather than solely pursuing numbers like fans and followers. The strategy and content was crafted for better engagement as is reflected when benchmarked with peer banks. Preparatory activities within the Bank also involved change management and awareness session across the ranks so that there was excitement and preparedness.
Soon after the presence was launched, there were adverse events like the Bank announcing its first ever quarterly loss in its history. D-Crypt (the digital wing of Goldmine Advertising) deployed a strong platform QuickMetrix to gauge the public sentiment, discern the influencers on various topics etc and thus decide on a judicious response; while continually monitoring the situation. This helps in shaping the outreach to put forth the Bank’s perspective
The Bank’s Marketing team defined the social media strategy to leverage a judicious combination of creativity and analytics.
The creative process from DCrypt ensures fresh content and crafted campaigns for engaging with the audience. The target groups for each campaign and product promotions continue to be carefully chosen to align with the Bank’s objectives and desired outcomes.
The analytics platform deployed: QuickMetrix continually measures the Bank’s image as it evolves, engagement of the brand as well as posts, comparison with peer Banks, curating conversations and comments so that they can be utilised by the brand for better understanding of customers and prospects.
Leveraging the extra day (February 29th) of the leap year 2016. The Bank’s hashtag #OneInALeap was trending on Twitter for six hours on 29th Feb. This was commendable considering that the Indian Union Budget 2016 was a much discussed topic through the day.
This campaign #Hate2Wait promoted the various Alternate Delivery Channels (ADCs) of the Bank positioning them as effective alternatives to traditional Branch Banking. This was crafted to save time of customers, especially the younger generation, who like quick and comprehensive services. #Hate2Wait campaign promote the options for Smart Banking services by way of ADCs in an interesting manner. Examples of ADCs include Baroda Connect, MConnect, Debit Cards, ATM, Elobby, M-CLIP, Multifunction Kiosk.
The objective of the #RaiseYourGame contest was to build awareness of the Bank of Baroda brand by leveraging National Sports Day. The hashtag #RaiseYourGame was trending on Twitter for more than 3 hours on 29th August
campaign commemorated the 109th Foundation Day of the Bank. It showed the rich heritage of the Bank, discreetly underscoring its financial stability and trustworthiness. The Bank’s loyal customers heartily participated in the contest and hashtag #BankofBaroda109 was trending on Twitter for more than 6 hours on 20th July and was active for more than 7 hours. This contest gained the highest number of participation in the past 7 months.
The start was with the launch of the Bank’s official Facebook fanpage and Twitter handle on the 1st Jan. Both channels today are ‘verified’ which is an important step in the journey. This was followed with the YouTube channel launch on 1st April 2016.
Today, all the posts reach millions of people. The benchmarking with peer Banks indicate that Bank of Baroda is ranked among the best in engaging with its audiences. Through the journey this far, social media has been used for a direct and two way connect between the Brand and its consumers.