Most of the top Indian banks are on social media and doing a handsome job at that. The official Facebook page of ICICI bank has launched a massive search for the ‘Fan of the Month’ beginning June. The winner shall be rewarded with a gift voucher worth Rs. 10,000/- from MakeMyTrip, which can be redeemed on return domestic flights across any sector and where the value of the ticket is less than or equal to the prize amount of Rs.10K. The rules of this contest, if you can call it a contest, are simple. All you have to do is engage with the brand. For every comment or ‘like’ that you put on the Facebook wall, you will win 50 points each. And if you have the highest score by the end of the month, you could be the winner!
About ‘Fan of the Month’ Facebook app:
Fan of the month contest has an interesting and neat little app of its own. But first do go through the Terms & Conditions of the contest, given at the bottom of the app. Since I was already a fan, all I had to do was click agree to T & C and register myself to enter the contest. Once you register, this is what you see. As you can see in the screenshot, the app is self-explanatory. The first section ‘Leaderboard’ displays a list of the top 20 fans along with the points they have scored. ‘Know your rank’ will be populated only after you are in the list of top fans. The ‘Winners’ section will have the names as soon as the first winner is declared. You could start with banking your points in the ‘Comments’ section right away. ‘How it works’ explains how you can be the fan of the month. ‘Invite friends’ is a feature where you can invite your Facebook friends to participate in the contest too.
Has it helped ICICI Bank Facebook engagement?
In an earlier post, where we did a study of five Indian banks on social media for a period of one month, we found ICICI bank as the most engaged with its fans compared to the others. And this even with ICICI entering the social space quite later than the other banks. Apart from this, it was also at the top in terms of fan growth, conversations and sentiment analysis.
Since the announcement of this contest i.e. 5th June, 2012, you can see the posts on the Facebook wall having an increased level of engagement as compared to the older posts. We did an analysis of the Facebook page using Unmetric for a period of 10 days from 1st June to 10th June, 2012 and here is what we found:
The above image highlights that there has been an increasing growth of fans from 4th June and the number talking to the brand was also maximum on 5th June. In addition to this, the brand’s community grew by more than 20,000 fans in the span of 10 days.
Is it a good way to engage with your fans?
At first, it seems a tad condescending for a brand like ICICI to run an ‘engagement’ campaign like this. A lot many smaller brands do this regularly using a free Facebook app called Booshaka, that gives you the top fans in your community. You could then thank them, appreciate them or help them leverage your brand image further. In a way, Fan of the month contest helps brands to discover their advocates, but it is a point to ponder upon whether these are your ‘genuine’ fans.
In an increasingly crowded space spawned with virtual communities, brands seem to be getting aggressive in finding their brand advocates. So when bigger brands resort to such tactics, it gets worrisome. However, on the other side of the coin is the desire to build and nurture a gigantic online community and the ICICI Bank Facebook wall is a good measure. All the posts are helpful to the community and that is what will eventually be the deciding factor. While brands are experimenting with social media and learning community behaviour, we will see how these contests help in shaping up online communities. Till such time we can continue to understand the impact and perhaps learn a thing or two.
What do you think about the ICICI Bank Fan of the Month contest? Do share your thoughts in the comments.