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OCBC & DBS Fighting Over Numbers That Do Not Add To Their Bottom Line

Two of Singapore top banks are in a vanity battle of who has the most number of Facebook likes that ironically have little or no effect on their bottom line.

Yet, OCBC Singapore and DBS Bank decided it is worth fight over at Marketing Interactive.

Wrote Rezwana Manjur of Marketing Interactive,

"OCBC Bank’s claim that it is the leading social media bank in Singapore has sparked retaliation from arch rival DBS....

... In reaction to OCBC’s claims, Edna Koh, senior vice president, group strategic marketing & communications, DBS Bank has refuted the claims and told Marketing that in 2010, DBS was the first Asian bank in Singapore to adopt a regional corporate Facebook page which now has over 590,000 fans across its 12 Facebook pages established for different audiences...."

If you were to ask either OCBC or DBS Bank how much of these likes or fans are actually account holders of the respective bank, you are more likely to get a blank check than a definite answer.

For the bank to claim the throne, there most be more tangible results of their social media efforts and how it affects the banks' bottom line.

Maybe in future, if you like either bank's page, you could get an extra interest rate point in your saving accounts or even no annual fees on your credit cards.

But the social media teams need to brainstorm to find creative ways to link social media activities and the banks' bottom line.

That will be worth the spat!


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