Banks are an essential part of society. It’s not possible to have a smoothly functioning, well-oiled ecosystem without a proper banking system – especially now, when our country is crippled by the Covid crisis. Banks must be agile and to adapt to the need of the hour – being absolutely contactless and supporting businesses – especially small ones – in every way that they can. Today, we’ll take a look at two such banks – Axis bank and Kotak Mahindra that have gone all out to rise to this occasion – especially with their recent ad campaigns.
Talkwalker, a social media analytics company, based in Luxembourg, provides information on the using their platform. Talkwalker Analytics analyses the performance of mentions all over the internet and provides key metrics such as engagement, related themes, demographic data, geographic data and influencer data.
Axis bank has a large number of mentions at almost 85k whereas Kotak Mahindra bank has about 27.5k. Both banks have a big spike in mentions just before the lockdown. Kotak Mahindra bank has an even bigger spike in mentions and this is because they were very reactive and forthcoming in their contribution to the PM cares fund – an amount of INR 50 Cr was immediately pledged. Axis bank also saw a huge volume conversation mainly because they enabled net banking or even the most remote corners of India as well as the option to defer up to 3 EMIs. More recent spikes in June for both banks can be attributed to their newest video ads – Kotak 811, featuring Ranveer Singh and Axis Bank’s ad focusing on supporting local kirana stores.
Like always, we’ll take a closer look at who is creating the buzz. In the case of Axis bank, over 90 per cent of the buzz comes from men, and for Kotak Mahindra, 76.1 per cent. Millennials are doing the majority of the talking for both organizations, followed by the youngsters.
What is the buzz about? Interestingly, most of the conversation around Kotak Mahindra bank is about the COVID crisis in India with #IndiaFightsCorona being the most prominent hashtag – this can largely be attributed to their generous donation to the PM cares fund. Other hashtags include #811VKYClife (thanks to their ad film), #bankfromhome and many others. For Axis bank, the most prominent hashtag is #AxisBank, followed by #Axis, #Nifty , #Sensex and many others.
Emotions do run high when it comes to finance – especially personal finance, so this comparison would be incomplete without an emoji cloud. For Axis bank, the folded hands emoji is by far the most prominent emoji and for Kotak Mahindra Bank, the pointing finger emoji – usually related to information or taking action- is the largest one, followed by the folded hands emoji and the lit emoji.