In our series of social media usage reviews, we next take a look at Sri Lankan finance companies in social media. Among the 47 finance companies in the island, only around ten institutions were found to have active social media pages while social networking pages of 15 other Companies were found to be inactive. Compared to other financial institutions such as banks, the social media participation of finance companies was found to be relatively less.
Bartleet Finance maintains a generally active Facebook page that posts promotional deals, CSR news and photo albums of their activities. The Company has recently initiated a campaign of branding train stations in various parts of the island. Photo albums and news articles with regard to these branding campaigns are shared on the page, which has a fan base of over 600 people. The Bartleet Finance Twitter page, however, is presently at an inactive state with just over a hundred tweets. Like its Facebook page, the Twitter page too has posted offer details and news articles during the time it was active.
Kanrich Finance’s Facebook page posts inspirational illustrations and photo albums of Company events to its fan base that has accumulated almost 4,000 Likes. The page attracts a high number of fan interaction through its posts and is open for fans to submit their queries through the page. The Facebook page of Mercantile Investments posts highly attractive photographs, illustrations and photo albums of Company offers, updates, events and functions.
The Facebook page of LB Finance provides news updates, promotional details and event information through its posts. The page has 200 Likes and attracts a considerable amount of user interaction. Lanka Orix Finance Leasing Company shares news updates through its Facebook page, often with a link to the article on its website. The page also posts photos of their various marketing campaigns regarding the Company. However, it is noteworthy that not much effort is being put to popularize the page among the general public and customers. At the time of writing, the page has just 19 Likes, far less for one of the premier finance Companies in the island.
Other active pages of Sri Lankan finance companies in social media include the Facebook pages of Orient, Sinhaputhra and Softlogic Finance. Orient Finance frequently provides offer details through its page while Softlogic Finance offers customer support messages, event updates, news and event information via their Facebook page.
Sinhaputhra Finance, another pioneering finance institution in the country hailing from Kandy, has a Facebook page with a staggering 38,800 Likes. The Company uses the page to notify their followers about upcoming event information, promotional details, event photo albums and well wishes. For a Company page that was set up just 6 months ago, it has been a commendable effort to popularize the Facebook page and attract a high level of frequent user activity.
The Finance Company, one of the leading finance institutions in the island, maintains active pages across both Facebook and Twitter. The Facebook page, which has 400 Likes, is highly active with frequent posts of illustrations, photos as well as memes. All the posts take a lighter and positive outlook on life in general, rather than focusing on serious Company matters and promotional details. The Twitter page too, is frequently updated with the same images on the Facebook page, but is operated separately. The account has gathered just 30 followers so far and no user interaction is to be seen.
Among the now inactive social pages, Abans Finance, Commercial Credit Finance, Ideal Finance and TKS Finance have occasionally posted promotional and offer details through its pages. Finance Companies like Arpico, George Steuart, Swarnamahal too have set up Facebook pages but are inactive at present. Other inactive Facebook pages include Asia Asset Finance, Bimputh Finance, Nation Lanka Finance and People’s Leasing Finance.
Overall, the general participation of Sri Lankan finance companies in social media is at relatively low level. Only a handful of Companies maintain active social pages with frequent updating and maintenance. More Companies have abandoned the social pages due to reasons unknown. It is also noteworthy that only 2 Companies have focused on having Twitter profiles, which is generally an excellent marketing tool for most Companies around the world.
With more and more users signing up to and seeking information through social media, Companies may realize the value of social media solutions and may divert more energy towards it. As long as they maintain their presence on social media, it is bound to do them and their reputation no harm.