The social-media savy Indian users have now turned into social savings bank account customers and two of the leading private banks in India- ICICI bank and Kotak bank capitalized brilliantly on this opportunity. Brand wars on twitter just got even more aggressive with Kotak’s Jifi saver twitter campaign #Hashtagbanking receiving a tough competition from newly launched ICICI bank campaign #icicibankpay. Kotak has initiated this campaign in association with facebook and twitter while ICICI bank has made associated with Twitter India to introduce their newly initiated social media savings account.
Is it a wake up call for other banks to speed-up in the social media savy generation and mark their digital presence too soon in the near future? ICICI bank is one of the first banks in India to introduce mobile banking where the users could make easy transactions through their mobile phones and now icicibankpay campaign seems to be another great instance of digitally smart move. ICICI Bank has always maintained their reputation of being one of the most active banks in India to promote its services and products through digital mediums like Facebook and Twitter.
This campaign is initiated keeping in mind the large pool of banking customers who use social media platforms to make easy transactions and this campaign will even enable the users to make mobile recharge and bill payments. However, there is a transaction limit of Rs 10,000 per day besides the fact that the user needs to have a mandatory Facebook account to make use of this feature. Brand Wars competition was only limited to Pepsi Vs Coca-Cola or Audi Vs BMW but the likes of two biggest banking jargons coming to front is the sign of changing trend in the advertising industry.
Kotak’s Jifi Saver Campaign is also an admirable shift in digital sphere which offers bill payments and recharge options via twitter. The company kicked-off this campaign keeping in mind the number of users who use social media for daily transaction purposes. The social media trend which was only limited to running contests and giving free giveaways on facebook and twitter has emerged as the bigger medium which will now allow people to do the entire banking at just the push of a button.