An Analysis of Use of Social Network Sites in Indian Banking Sector

By : Pooja Malhotra , Balwinder Singh

Page No: 350-355

Abstract
In present era of technology, social networking sites have become an important marketing tool for all business concerns including banking industry. It helps the banks to share business information and interact with their actual and potential customers. The objective of this study was to evaluate the use of Facebook by the Public and Private Sector banks in India. The article is based on an instrument called Facebook Assessment Index (FAI) developed by Miranda (2013), which uses three categories to evaluate the essential information on a firm’s Facebook page: popularity, interactivity, and content. The results found that only 41.3 percent of the banks observed had their official Facebook page. Amongst, the three measures of FAI, new private sector banks (ICICI, Axis and Yes bank) performed well as compared to other banks. In general, the banks were not fully harnessing the utility of Facebook as a marketing tool and a great opportunity exists for the banks for improvement in their usage of Facebook.

Authors :
Pooja Malhotra : Assistant Professor, Dept of Commerce, Dyal Singh (PG) College, Karnal, Haryana, India.
Balwinder Singh : Associate Professor, Dept of Commerce, Guru Nanak Dev University, Amritsar, Punjab, India.