Marketing potentials of the social media tools in the banking market of an emerging country

Author:

Assensoh-Kodua AkwesiORCID

Abstract

There are many facts that attest to the pervasiveness of social media applications in the current world of business. This communication medium is replacing the well-known emails and complimenting the likes of short message service (SMS) and instant messaging and chatting. As part of technology, which is revolutionising the way we do business and live, organizations worldwide are gearing up efforts to take advantage of this phenomenon. In South Africa, the story is the same. However, the Banks in South Africa seems to have problems selling this form of communication to their clientele to augment their service delivery. In view of this, the current study aimed to research into social media concept in South Africa, to highlight its trajectory pros and cons, and investigate why it is not being adopted by these clients, in addition to measuring the continuance intention of those who have accepted banking through social media. It was discovered that, social norm (β=0.579), perceived trust (β=0.510) and user satisfaction (β=0.332), in that order, stood out as the most influencing factors impacting on user acceptance and continuance intention (β=0.384) of social media usage for banking. Perceived behavioural control made no significant impact on users to adopt social media for financial services. As the banking industry keeps investing in the marketing potentials of social media tools for banking, in order to gain competitive advantage in customer service delivery, this social media usage could make a lot of difference when well researched into and managed. In some countries, banking customers are able to do their banking through social media sites, but little is known in South Africa (according to research), regarding the usage of this tool for banking purposes.

Publisher

Virtus Interpress

Subject

Strategy and Management,Economics and Econometrics,Finance

Reference63 articles.

1. Aibinu, A. A., & Al-Lawati, A. M. (2010). Using PLS-SEM technique to model construction organizations' willingness to participate in e-bidding. Automation in Construction, 19(6), 714 -724.

2. Ajzen, I., (2008). Consumer attitudes and behavior. Handbook of Consumer Psychology, 525-548.

3. Anderson, C.L., & Agarwal, R., (2010). Practicing safe computing: a multimedia empirical examination of home computer user security behavioral intentions. MIS Quarterly, 34(3), 613-643.

4. Assensoh-Kodua, A. (2014). Factors that determine the continuance intention of people to use online social networks for business transactions. Master`s thesis, Durban University of Technology, South Africa. Retrieve March, 19, 2016, from http://ir.dut.ac.za/handle/10321/1184.

5. Bearden, W.O, Sharma, S & Teel, J.E. (1980). Sample size effect on chi-square and other statistics used in evaluating causal models. Journal of marketing research, 19(4), 425-430.

Cited by 5 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. Mobile instant messaging as an interaction tool in the business context;Journal of Contemporary Marketing Science;2023-04-13

2. The Interaction Between Banks and Brazilian Customers Through Facebook;Research Anthology on Social Media Advertising and Building Consumer Relationships;2022-05-13

3. This Thing of Social Media!;Handbook of Research on the Platform Economy and the Evolution of E-Commerce;2022

4. A study of the relationship marketing effect in banks: The case of an emerging market;Journal of Governance and Regulation;2018

5. Editorial;Journal of Governance and Regulation;2018

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3