• Raghu. C

The explosion of the social media is as remarkable as that and also the pace at that it is growing is fabulous. Social media platforms like facebook, twitter and lots of different blogs that facilitate in selling their services that enhance their page to produce customer exclusive offers, product details and client care services. Social media is a phenomenon that draws lot of attention of firms and people interacting on the networking landscape. Financial institutions are keeping an eye fixed of the many completely different social media possibilities and beginning to introduce new social initiatives at a better rate than before. Businesses are utilizing social media selling to become additional extremely developed in market. Looking back into the history of internet, wherever social media need to be evolved, some related ideas will be derived. During twentieth century, usury or disposition cash at a high rate of interest was wide prevailing in the country. Entry of foreign, private and joint stock banks, which was further accelerated by development of cooperative movement have appropriated an honest deal of business from the hands of the local money lenders, who although still exist, have lost his forbidding teeth, losing their market share considerably. Banks started providing regular updates on the most recent offers and perform basic consumer operation through standard social media sites. Social media selling is the new trend setter for many brands. The process got momentum with nationalization of commercial banks. Some financial institutions grants permissions to send public messages such as blogs and updates or any other activities, where these are user generated codes which are later generated throughout the social media and which are easily accessible. With many banks taking the lead, the direction is ready for different banks to supply on-line financial services through such platforms sooner instead of later. ICICI Bank, HDFC Bank and Axis Bank are among the prime 10 Banks with Social Media presence as per a recent survey. Some folks cannot afford to own presence in social channels, wherever the contestant is already creating bigger moves with its product and services. World corporations everywhere the globe have recognized social media selling as a strong selling platform, it utilized with innovations to create their advertisement campaign with social media selling.

Advertisement, Banks, Competition, Financial services, Innovations, Social media.

"An economic analysis of social media advertisement: A case study of ICICI Bank", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 6, page no.49-57, June 2019, Available :http://www.jetir.org/papers/JETIR1907311.pdf

"An economic analysis of social media advertisement: A case study of ICICI Bank", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 6, page no. pp49-57, June 2019, Available at : http://www.jetir.org/papers/JETIR1907311.pdf