ROCKVILLE, MD--(Marketwire - Oct 2, 2012) - Companies in the BFSI sector in emerging economies have adopted different social media marketing strategies to identify new markets, launch products, gather customer feedback and monitor brand performance. The rising competitiveness in public sector banks, coupled with increases in performance accountability, is driving nationalized banks to improve their presence on social networks.
Social media represents a valuable opportunity for banks and financial service companies in Brazil. As internet access increases, a growing number of Brazilians are becoming social networking users and banks are developing their processes accordingly to be able to respond to web-oriented consumers.
With more than 300 million users active on social networks, blogs, microblogs, and other online communities, China's social media user base is driving banks and financial institutes to maintain an active presence on social networks. Social media marketing is becoming an integral part of the marketing and advertising value chain in India. Banks and financial services companies are improving their presence on social media sites in order to promote new schemes and process feedback.
With 55 million internet users -- more than a 20% annual increase -- Indonesia is becoming a key market for all major social networking sites, with Twitter and Facebook reporting significant market penetration rates in the country.
Social media marketing is posting strong levels of growth in South Africa due to rising internet penetration rates and the increased sale of mobile devices. The country has 29 million active mobile devices, making mobile phones the preferred medium for accessing the internet and social networks. The South African banking industry is integrating social media into its daily operations and becoming more approachable to users.
The high usage of social networks in South Korea is driving banks and financial institutes to adopt social media marketing to better communicate with consumers. Social media marketing initiatives have also been supported by the high rate of smartphone penetration in the country.
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