If you go through the Twitter streams of Indian Private banks, it reads like a customer service account — which is probably what they want to do with the medium. However, @icicibank_care could probably explore hiring, mapping customer trends with this particular account. In reality, we would love to know if banks have derived consumer insights using social media. Is product failure being measured with the number of negative tweets? Are banks taking parody accounts or hate accounts seriously? (Just try googling for ‘I hate ICICI Bank’). Social Media should not be restricted to just Facebook and Twitter. In ICICI’s case, they have a considerable number of negative reviews on Mouthshut.com.
I wrote an article on 'Social Media Essentials for the Banking industry' for Social Samosa. I think there is a lot more smart engagement that banks can do with the audience that they have on social media.
The entire article is here