Social media pays off for DBS

Local banking giant DBS' first campaign for its investment services offering, DBS Treasures, pulled in 100 new customers for the bank over social media.

The campaign, uGOiGO is a regional initiative that complements the bank's overall strategy in reaching out to customers. In Hong Kong, the bank has launched the second wave of the campaign after a pilot launch in February.

In Singapore, the first deal was launched on 18 March 2013 and offered new DBS Treasures customers interest rates of 1.08% per annum with a three-month fixed deposit of SG$350,000. The offer was triggered once it received the required number of interested customers.

This is part of the bank's efforts to further engage its customers in the social media space. When the offer was triggered, customers received an e-coupon on their mobile phones and could open their accounts at any DBS Treasures Centre. Besides attractive fixed deposit savings rates, customers were also awarded 10,000 bonus miles on their DBS Treasures Black Elite American Express Card.

Within five days, it reached its target as customers shared the deal online. A spokesperson told Marketing the bank acquired 100 new customers through the campaign.

It will also be launching this campaign in other markets such as China, India, Indonesia and Taiwan in the coming weeks.

"We are constantly keeping a finger on the pulse of our customers' evolving social preferences," Koh Kar Siong, (pictured) managing director & regional head, DBS Treasures & Treasures Private Client, DBS Bank said.

"We appreciate the power of social media and saw a great opportunity for our customers to share good deals with their peers," added Koh.

Since 2010, DBS has been connecting with its customers on social media. It launched the DBS Places campaign in 2010, awarding participants with points for every first check-in to locations in five Asian cities using supported mobile devices.