A new report on social media and the banking industry in South Africa – conducted\u00a0by social media agency,\u00a0ZASocial Media – reveals how the country’s banks are failing to engage with their ‘fans’ on Facebook.<\/p>\n
The Social Media Audit Industry Report\u00a0focused on five South African Banks:<\/p>\n
The agency also focused only on social media site Facebook, using a time-frame from September 9, 2013 to October 9, 2013.<\/p>\n
The metrics used for the report included \u2018fan likes\u2019 and \u2018engagement\u2019. “The objective of this report is to discover how banks are engaging with their fans on social media,”\u00a0ZASocial Media said.<\/p>\n
1. Absa<\/strong><\/p>\n ZASocial Media noted that\u00a0Absa has over 145,000 fans on Facebook, with more than 4,000 fans engaging on its page.<\/p>\n The social media agency says that the bank only manages to engage with 2.8% of its Facebook fans, adding that Absa only uses Facebook “as a promotional tool for their campaigns and events”.<\/p>\n From the 9.2 million South African Facebook users \u2013 1.3% like the Absa Facebook Page, the report said.<\/p>\n 2. Capitec<\/strong><\/p>\n New kid on the block, Capitec boasts over 92,000 fans on Facebook with in excess of 1,000 fans engaging on its page.<\/p>\n “The Capitec Facebook Page is dedicated to drive the innovation Capitec aims to achieve with their Marketing Campaign,” the report said.<\/p>\n “The Bank only manages to engage with 1.1% of their fans, they have also used Facebook as a promotional tool and have not used it to maintain their relationships with customers,” it said.<\/p>\n From the 9.2 million South African Facebook users \u2013 0.8% like the Capitec Facebook Page.<\/p>\n 3. FNB<\/strong><\/p>\n FNB has over 420,000 fans on Facebook and 5,000 fans engaging on its page, \u00a0ZASocial Media said.<\/p>\n The report said that FNB only manages to engage with 1.2% of its fans.<\/p>\n However, it noted that FNB has different approaches when it comes to using its page. “They use it as a promotional tool and to collaborate with users for brand awareness.”<\/p>\n From the 9.2 million South African users \u2013 3.8% like the FNB Facebook Page.<\/p>\n 4. Nedbank<\/strong><\/p>\n Nedbank has over 44,000 fans on Facebook and 1,000 of those fans engage with bank.<\/p>\n ZASocial Media said that\u00a0Nedbank also uses Facebook as a promotional tool to promote its latest campaigns, engaging only\u00a0with 1.6% of its Facebook Fans.<\/p>\n From the 9.2 million South African users \u2013 0.4% like the Nedbank Page.<\/p>\n 5. Standard Bank<\/strong><\/p>\n Standard Bank has over 67,000 fans on Facebook and 800 of those fans engage with the group.<\/p>\n “With so many fans on their page they only manage to engage with 1.9% of their Fans. From the 9.2 million South African users \u2013 0.6% like the Standard Bank Page,”\u00a0ZASocial Media said.<\/p>\n “Banks are interacting with customers but they are only focusing on selling and informing and not entertaining the customers…Banks in South Africa are great at generating fans, but not great at engaging with their fans the average percentage of the five banks selected is 1.72%,” the agency said.<\/p>\n The 2013 SA Social Media Landscape report, conducted by business technology research firm\u00a0World Wide Worx<\/a>\u00a0and social network analytics company,\u00a0Fuseware<\/a>, found that\u00a093% of major brands in SA use Facebook, 79% use\u00a0Twitter<\/a>, 58%\u00a0YouTube<\/a>, 46%\u00a0LinkedIn<\/a>\u00a0and 28%\u00a0Pinterest<\/a>.<\/p>\n The report revealed that on Facebook, 87% of respondents measured the number of fans and 79% the number of posts and comments.<\/p>\n However, only 19% said they were getting as much value from social media as they could \u2013 indicating that most were still learning how to embrace the tool.<\/p>\n The\u00a0analysis of South Africa\u2019s top 50 brands by value reveals a strong showing: they have an average of 58,000 Facebook fans each, growing at 4.8% a month.<\/p>\n South Africa\u2019s favourite bank surprise<\/strong><\/a><\/p>\n Cheapest bank accounts in SA<\/strong><\/a><\/p>\n How SA business uses social media<\/strong><\/a><\/p>\n SA social media stats revealed<\/strong><\/a><\/p>\nMore on South Africa’s banks<\/h3>\n