Social Media Marketing Strategies Adopted by the Financial Services Industry in Emerging Economies

BRICdata
September 17, 2012
81 Pages - SKU: BRDT4880108


Synopsis

The report provides detailed market analysis, information and insights, including:
  • In-depth analysis of the social media marketing strategies adopted by the financial services industry in emerging economies
  • A comprehensive understanding of country-specific market trends, opportunities and challenges in the BFSI sector across key emerging economies
  • A detailed insight into the future of social media marketing in the BFSI sector in key emerging economies
Summary

Social media represents a valuable opportunity for banks and financial service companies in Brazil. As internet access increases, a growing number of Brazilians are becoming social networking users and banks are developing their processes accordingly to be able to respond to web-oriented consumers. With more than 300 million users active on social networks, blogs, microblogs, and other online communities, China's social media user base is driving banks and financial institutions to maintain an active presence on social networks. Social media marketing is becoming an integral part of the marketing and advertising value chain in India. Banks and financial services companies are improving their presence on social media sites in order to promote new schemes and process feedback. With 55 million internet users - more than a 20% annual increase - Indonesia is becoming a key market for all major social networking sites, with Twitter and Facebook reporting significant market penetration rates in the country. Social media marketing is posting strong levels of growth in South Africa due to rising internet penetration rates and increased sales of mobile devices. The country has 29 million active mobile devices, making mobile phones the preferred medium for accessing the internet and social networks. The South African banking industry is integrating social media into its daily operations and becoming more approachable to users. The high usage of social networks in South Korea is driving banks and financial institutions to adopt social media marketing to better communicate with consumers. Social media marketing initiatives have also been supported by the high smartphone penetration rate in the country.

Scope
  • This report provides in-depth analysis of social media marketing strategies adopted by companies in the BFSI sector in emerging economies
  • The report provides a detailed understanding of how social media platforms are being used by financial services companies to identify new markets, launch products, gather customer feedback and monitor brand performance
  • The report provides insights into market trends, drivers, opportunities and challenges
  • It also provides insights into future social media marketing strategies adopted by banks and other financial services companies to strengthen market position
Reasons To Buy
  • Gain in-depth insight into the social media marketing strategies adopted by companies in the BFSI sector in key emerging economies
  • Understand the various market dynamics within the key emerging economies, and use the knowledge to capitalize on the potential of these high-growth markets
  • Take informed decisions and formulate effective technical and marketing strategies based on the report’s detailed market insights on social media marketing strategies adopted by companies in the BFSI sector in key emerging economies
  • Identify the key specific social media marketing trends in each of the key emerging countries profiled
Key Highlights
  • Almost 20% of an average Brazilian’s total online activity is spent on social networking sites, making it one of the leading online activities in the country.
  • With almost one-third of the population connected to the Internet, social media has become a popular marketing tool in China.
  • With 55 million internet users - of which 57% are mobile internet consumers - Indonesia is becoming a key market for all social networking sites, with Twitter and Facebook reporting a significant growth in market penetration rates.
  • In Russia, social media marketing is recording strong levels of growth as internet penetration rates increase, and mobile subscriber rates rise.


Additional Information


Report Excerpt

3 Social Media Marketing Opportunities in China

This chapter provides insights into the current status of social media marketing in the BFSI sector in China and how this is likely to evolve in the future. Section 3.1 provides an introduction to social media marketing highlighting the business, infrastructure, and consumer drivers. Section 3.2 provides information on the key trends in the social media marketing sector. Section 3.3 provides specific case examples followed by key challenges in section 3.4 and future direction of social media marketing in section 3.5.

3.1.1 Key social networking sites in China

The online landscape in China varies significantly from other economies. Popular websites such as Facebook, YouTube, and Twitter are banned under government sanctions. Despite internet users having profiles on multiple social networks, the county’s two leading social networks are: Renren and Kaixin001.

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