Chennai's Unmetric tracks how banks use social media

As tracking consumer response on social media becomes more important for businesses, a number of startups are creating tools to address this market. Chennai's Unmetric, which provides insights to global brands on their social media rankings, has tracked the performance of Indian banks on social media.

Unmetric scores from Facebook, Twitter and YouTube were added together to determine which banks are reaching out to customers on the net. HDFC Bank topped with a score of 110, while ICICI Bank came in second with a score of 108. Axis Bank was third with 93.

“There is a clear division between the social media efforts of private-sector and public sector banks,” said Lakshmanan Narayan, CEO of Unmetric. However when it comes to actually providing customer service, banks mostly prefer customers calling the helpline. “Most customers trust other customers, their peers or friends, rather than a bank trying to convince them about their products,” said Mukund Mohan, CEO-in-Residence at the Microsoft Accelerator, who earlier founded a social media startup in the US.

Here are some key findings in the report: