Majority of the people these days use social media sites. Social media is a good way to reach out the people. Banks have also found the social media – an interesting way to attract more number of customers. The banks reported that social media is better and cost effective way in comparison to the search engine marketing (SEM) or direct selling agents.
Although the SEM or direct selling agents method had been very successful in the past. The reports have shown that social media accounts for the one third of the cost of the SEM and it is three more effective. ICICI Bank has been the first to use social media like Facebook as a platform for its banking services. This is an efficient way through which bank s are able to target the customers on the basis of behavior. Banks are finding Social Media a much effective and better way to attract customers.
Banks are coming out with responsive designs for their websites which cater to three screen sizes — mobile phones, tablets and desktops. Customers are also finding the banking through social media methods much simpler.