Individual Business Project

Individual Business Project

Acknowledgement
I am thankful to my tutor, friends and relatives who gave me guidance and support. In
completing my dissertation on corporate governance they always encouraged for completing
dissertation in the best possible way. In addition to this, I also appreciate my mentor for giving
me guidance in preparing dissertation. From his support and experience I was in the position to
complete dissertation in a right manner. Finally, I want to extend my sincere thanks to everyone
who have directly or indirectly supported me in completion of my dissertation.

Executive Summary
Social media marketing as an element of internet marketing that makes use of Facebook,
Twitter for marketing the products as well as services. The main objectives behind undertaking
SMM is to frame content that users will share on social networks for enhancing brand exposure
and broadening the customer reach.With the motive to evaluate the role and impact of social
media marketing in the context of banking sector qualitative research design has been used.
Hence, by considering such research type data collection and analysis technique has been
selected. In the present investigation, interpretivism philosophy and inductive approach has been
selected by the researcher.By conducting survey on 30 respondents researcher has gained the
views about the impact of social media marketing on the success of banking sector. Besides this,
books, journals and scholarly articles related to social media marketing have been evaluated by
the investigator.In this, to investigate the impact of social media marketing on banking sector’s
performance qualitative research design has been considered by the scholar. On the basis of such
aspect, thematic analysis has been conducted by the researcher.
It has been articulated from the evaluation that social media marketing technique enables
firm to understand the needs, wants and expectations of customers. In this way, such marketing
tool offers opportunity to the banking unit in relation to making suitable changes in the existing
offering. Thus, by offering tailor made products or services to the customers banking firm can
attain success to the significant level.Further, it has been identified from primary data
investigation that Facebook and Twitter are the most effectual social networking sites that assist
banking firms in developing relationship with the customers. Now, individuals become more
active on social sites like Facebook, twitter, Instagram etc. SMM offers several benefits to the
banking sector firms in terms of high customer loyalty and base, competition, building
relationship with target market etc. It can be inferred from both primary and secondary data
investigation that social media marketing and growth of banking firms are highly associated with
each other.

TABLE OF CONTENTS
CHAPTER1: INTRODUCTION.....................................................................................................1
1.1 Background of the study........................................................................................................1
1.2 Research aims and objectives................................................................................................1
1.3 Research question..................................................................................................................2
1.4 Rationale of the study............................................................................................................2
1.5 Significance of the study.......................................................................................................2
1.6 Structure of dissertation.........................................................................................................3
CHAPTER 2: LITERATURE REVIEW.........................................................................................5
2.1 Introduction............................................................................................................................5
2.2 Concept and trend of social media marketing (SMM)..........................................................5
2.3 Significance of social media marketing in banking sector....................................................7
2.4 Impact of social media marketing on the profitability and success of banking sector..........9
CHAPTER 3: RESEARCH METHODOLOGY...........................................................................13
3.1 Research design...................................................................................................................13
3.2 Research approach...............................................................................................................14
3.3 Research philosophy............................................................................................................14
3.4 Research type.......................................................................................................................15
3.5 Data collection.....................................................................................................................15
3.6 Sampling..............................................................................................................................16
3.7 Data analysis........................................................................................................................17
3.8 Ethical consideration...........................................................................................................17
3.9 Reliability and validity........................................................................................................18
3.10 Research limitations...........................................................................................................18
CHAPTER 4: DATA ANALYSIS AND FINDINGS...................................................................20

CHAPTER 5: CONCLUSION AND RECOMMENDATIONS...................................................33
5.1 Conclusion...........................................................................................................................33
5.2 Recommendations................................................................................................................34
REFERENCES..............................................................................................................................36
Figure 1: Social media marketing is the most effectual marketing tool over traditional tools......20
Figure 2: Social media marketing tool helps in understanding the customer’s expectation.........21
Figure 3: Respondents strongly agreed that banking institution can assess potential customers via
social media marketing..................................................................................................................23
Figure 4: Managers agreed that manager can analyze the level of competition by adopting social
media marketing tool.....................................................................................................................24
Figure 5: Managers agreed that social media marketing concept develops awareness among the
customers.......................................................................................................................................25
Figure 6: Facebook and Twitter helps in building and maintaining strong relationship with the
customers.......................................................................................................................................26
Figure 7: Managers are satisfied with the results of social media marketing outcomes..............27
Figure 8: Social media marketing assists banking institutions in building sound relationship with
the customers.................................................................................................................................28
Figure 9: Threat in relation to negative feedbacks from customers imposes issue in front of
banking institution when it practices social media marketing.......................................................30
Figure 10: Managers agreed that social media marketing has high conversion rate.....................31
Figure 11: Social media marketing contributes in the growth and success of financial institution
to a great extent..............................................................................................................................32
Figure 12: Significant relationship takes place between social media marketing and banking
sector’s productivity as well as profitability..................................................................................33

Topic: To evaluate the role and impact of Social Media Marketing on the success of Banking
Industry
CHAPTER1: INTRODUCTION
1.1 Background of the study
In the recent times, use of social networking sites increased with the very high pace in
each and every sector. All the business organizations undertake social media platform to promote
the products or services. It enables firm to track the progress, success and effectiveness of
products or services to a great extent. Social media sites such as Facebook, Twitter enables firm
to get information about the needs, wants and expectation level of customers. Moreover, now
individuals spend more time on social networking sites and share their views about specific
products or services. Such strategy enables firm to get information about the extent to which
customers are satisfied from the products or services. In this way, social media marketing offers
opportunity to the firm in relation to assessing the viewpoints of customers and thereby would
become able to make changes accordingly.
In the recent times, banking institutions are also placing emphasis on employing social
media marketing with the motive to develop awareness among the customers regarding services,
interest rate, loan etc. Moreover, customers are encouraged to invest more money when interest
rate increases. Besides this, when terms and conditions of loan simplify then people prefer to
take high level of financial assistance from banks. Thus, with the motive to build, maintain and
strengthen the relationship with customers companies operating in banking sector employ such
strategy. In this, dissertation will shed light on the significance on social media marketing or
strategy in the context of banking sector. It will provide deeper insight about the manner in
which social media marketing strategy aid in the productivity and profitability of firm.
1.2 Research aims and objectives
Aim: The aim of the present study is to analyze the role of social media marketing in the
growth and success of banking sector. On the basis of such aim, following objectives have been
drafted by scholar such as:
Objectives:

 To develop understanding about the concept of social media marketing.
 To assess the significance of social media marketing in banking sector.
 To examine the contribution and impact of social media marketing strategy on
organizational growth in the context of banking sector.
 To recommend the ways through which banking sector firms can get benefits via social
media marketing in the near future.
1.3 Research question
For carry out the whole study in a structured manner researcher lays more emphasis on
developing highly appropriate questions in line with the aims and objectives. Research questions
provide researcher with suitable direction and helps in conducting study in the right way. By
considering the above aim following questions have been framed by the researcher:
Q.1 What is the significance of social media marketing in banking sector?
Q.2 What is the impact on social media marketing on banking sector’s profitability and success?
1.4 Rationale of the study
The rationale behind conducting the present study is to examine the role of social media
marketing strategy in the growth and success of banking sector of firm. It is the issue because
now each business units whether belongs to financial sector or not makes focus on the adoption
of social media marketing strategy. In the former times, only firms pertaining to retail and
hospitality sector employ social media marketing strategy. However, now involvement or
activeness of banking sector firms regarding social media marketing enhanced to a great extent
(Kshetri and Voas, 2017). Thus, the present research will shed light on the extent to which social
media marketing strategy offers desired level of outcome to the firms of banking industry.
1.5 Significance of the study
Social media marketing becomes the vital part of an organization which in turn helps
them in developing effectual relationship with the customers. In this, report will create the
attention level of companies of banking sector towards the strategy of social media marketing.
Findings and outcomes of the present study will provide deeper insight to the companies which
are working in banking sector about the extent to which social media marketing is essential for
them. In addition to this, now interest level of other individuals and students towards research

increased to the significantly. In this, study and its outcome will help other scholars in
developing better insight abut social media marketing. Hence, by making evaluation of the
current study investigator would become able to develop new hypothesis and framework for the
future study.
1.6 Structure of dissertation
Chapter 1: Introduction
First chapter of dissertation depicts brief overview of social media marketing and its role
in banking industry. In this, aims, objectives and questions have been developed by the
researcher by keeping in mind the research topic or issue. In the introductory part, rationale
behind conducting study on social media marketing and its significance have been presented by
the researcher. In this, researcher also mentions structure that has been considered during the
whole study.
Chapter 2: Literature review
In the second chapter, scholarly articles that are based on social media marketing and its
significance have been evaluated. Hence, by evaluating the books and journals related to social
media brief thesis has been prepared by the scholar. Thus, secondary data analysis has been done
by the researcher in this section in accordance with the research aims and objectives.
Chapter 3: Research methodology
Third chapter of dissertation furnishes information about the tools and techniques that
have been undertaken by the researcher to assess the solution of issue. In this, research type,
approach and philosophy have been selected by the researcher which in turn helps in examining
the significance of social media marketing in banking sector. Further, data collection, sampling
and analysis technique have also been mentioned in such chapter.
Chapter 4: Data analysis and findings
This chapter of dissertation is highly significant which presents the significance of study
along with the charts and graphs. Methods identified in the research methodology section have
been employed to analyze the data set in an effectual way. Hence, in this, researcher has

presented the extent to which social media marketing positively influences the growth and
success of banking sector.
Chapter 5: Conclusion and Recommendations
In the final chapter of dissertation, researcher has summarized all the findings in an
appropriate manner as per the research aims. Besides this, recommendations have also been
given by the researcher which in turn helps companies of banking industry in attaining success in
the near future.

CHAPTER 2: LITERATURE REVIEW
2.1 Introduction
In literature review, researcher discusses published information that is related to the
subject area which is going to be investigated. Hence, in such section scholar presents summary
of all the sources by taking into account research aims and objectives. Literature review includes
or combines both summary and synthesis. Thus, in this, with the motive to assess association
takes place between social media marketing and organizational success related books, journals
and articles have been evaluated by the researcher. Such chapter depicts theoretical findings
related to the subject area and provides assistance in evaluating the views of respondents in the
right direction. Findings of literature review section are highly significant which in turn assists
researcher in doing analysis of primary data results in a prominent way. Hence, in the literature
review section, several themes related to the trend of SMM, significance and its impact on the
growth of banking sector have been discussed by the researcher. Thus, by evaluating articles
regarding all such themes brief thesis has been framed by the scholar.
2.2 Concept and trend of social media marketing (SMM)
Bravo, Montaner and Pina (2012) presented that social media marketing as an element of
internet marketing that makes use of Facebook, Twitter for marketing the products as well as
services. The main objectives behind undertaking SMM is to frame content that users will share
on social networks for enhancing brand exposure and broadening the customer reach. Besides
this, Hajli and Nick., (2015) depicted that with the motive to products or services social media
platforms and websites are used by the marketer. Hence, business units which undertake social
media platforms for the marketing purpose have their own analytics tools or systems. By using
this, concerned business unit can track the progress and success of ad campaigns. In addition to
this, social media marketing also offers opportunity to the individuals or business units to
evaluate the level of customer’s association with ad campaign. In the recent times, large numbers
of companies are using the tool of social media marketing with the motive address more
stakeholders including both current and potential customers.

Further, Jeff and et.al., (2014) defined social media marketing as a tool that considers
network and application with the motive to enhance brand awareness and promote particular
product or services. In SMM, marketer establishes social media presence on several platforms
such as Facebook, Twitter etc. Under this marketing tool, concerned authority creates shareable
content as well as advertorials and thereby develops awareness among the customers regarding
the products or services offered by them. Luttrell (2014) perceived SMM as targeted type of
advertisement that is highly effectual and helps in creating brand awareness. This marketing tool
is undertaken by the business organization with an objective to interact with the target market by
using social media. Hence, to promote the products or services social media platforms such as
Facebook, Twitter, Instagram, Pinterest etc are undertaken by the firm. In order to enhance
referrals and leading sales company makes focus on using social media marketing tool.
Rajagopal., (2013)assessed several objectives which in turn encourages companies to undertake
SMM whether they are operating in retail or any other sector. Thus, main aim of the firm behind
employing SMM is to build and enhance word of mouth publicity. Usually, satisfied customers
share their experiences with several of others. In the context of social media marketing, users
prefer to share the image of products or services to which they are highly loyal. This in turn
helps business unit in developing awareness among the large number of people about the
products or services being offered at low cost. However, Sasmita and Suki (2015) said on a
critical note that social media marketing is the potential for embarrassment. Moreover, customers
give their reactions on the images of the products or services of well known brand. In this, if
customers negatively comments regarding the products or services offered by firm then it may
result into high level of embarrassment.
Bravo, Montaner and Pina (2012) assessed social media is the most cheapest way which
in turn helps in reaching to the large group of people at low as compared to other marketing
practices. This is one of the main aspects due to which use of social media marketing is
increasing with the very high pace. Along with this, SMM also helps in exposes brand to the
large number of audiences. Moreover, with the rise in the usage of smart phones now individuals
are accessing social networking sites such as Facebook, Twitter more frequently. In this, by
placing advertisements on all such sites awareness can be created among the people. However, it
is to critically evaluate by Reddick, Chatfield and Ojo (2017) that social media accounts are
prone to security breaches to the significant level. The main reasons behind this, now undesirable

practices such as hacking are increased to a great extent over the past years. Thus, there is a risk
that one can access valuable information regarding purchase of customers etc. Thus, lack of
having enough security limits the significance of social media marketing.
Sasmita and Suki (2015) investigated that social media marketing is highly helpful for
business units because it helps in building authentic relationship with the customers. By making
regular contact with the customers via social networking sites business unit can build, maintain
as well as strengthen the relationship with customers. Besides this, Tsimonis and Dimitriadis
(2014) shared their views that social media marketing induces brand loyalty to a great extent.
Approximately, 63% marketers assessed that social media marketing is the significant tool which
in turn helps in building loyal customer base. By posting inspiring and related content about
product business unit can promote brand and build up confidence among them. All the above
depicted aspects show that social media marketing tactic has both negative and positive aspect
that firm needs to keep in mind at the time of strategy formulation.
2.3 Significance of social media marketing in banking sector
According to the views of Vernuccio (2014), social media marketing is highly makes
vital contribution in the growth and success of banking sector. This strategy enables firm to
understand the needs, wants and expectation level of customers. Moreover, when customers do
comment on the product or services offered then it assists firm to get information about the
effectiveness of offering. Hence, by evaluating the views of customers banking firm can make
suitable modifications by understanding the needs of market. In this way, by providing
customers with suitable products or services banking institution can maximize productivity and
profitability. In contrast to this, Klaus and Nguyen (2013) stated that unsatisfied customers do
negative comments on the images circulated by banking institution on social sites. This in turn
hampers organizational brand image and decision making aspect of potential customers. It shows
that social media marketing has some negative sides or aspects which in turn place direct impact
on the success of banking institutions.
Vernuccio (2014) found in their study that social media marketing strategy provides
assistance to the banking institution in analyzing the share of different products and services.
Hence, social media marketing analyst can assess the part of customers regarding debit and
credit card, salary account, loan etc. Besides this, by employing social media marketing

institution can also assess the matters which have discussed with the customers. Further,
information generated through social media marketing strategy also enables firm to categorize its
customer base in different group as per their preferences and needs. However, on the critical
note, Lacka and Chong (2016) said that it is highly difficult for the individuals or personnel of
banking institution to maintain an interactive social media presence. Moreover, it is highly time-
consuming and sometimes it is not possible for the corporation to devote enough or required
resources to social media. The rationale behind this, in the case of social media marketing
personnel of banking institution has to institution has to monitor each network related to this.
Along with this, individual has to respond each question and queries of customers.
On the other side, Herzig and Moon (2013) mentioned in their study that social media
marketing strategy helps them in developing long lasting relationship with the existing
customers. Moreover, by giving quick respond to the queries of customer’s financial institution
can develop high level of satisfaction among them. Further, social media marketing tactic also
helps firm in finding potential customer base. This strategy offers opportunity to the firm to build
or develop contact with the people who have need regarding the products or services. In this
way, such strategy helps financial institution in converting prospects into end customers.
Moreover, by sending cold e-mails to unknown prospects financial institution would not become
able to get success to a great extent. Thus, by using such strategy banking firms can approach to
the prospect customers and thereby would become able to gain competitive edge over others.
In contrast to this, Tsimonis and Dimitriadis (2014) depicted that social media marketing
is not suitable for each target market. Moreover, if target market is old and rural then it is not
possible for the banking institution to attract customers by using social media marketing strategy.
Thus, according to the areas and background strategy that is employed by firm differs to the
significant level. On the basis of the views presented by Klaus and Nguyen (2013) social media
marketing also helps firm in analyzing and evaluating the level of competition. Moreover, now
competitors are also highly active on social sites and place advertisement about the products or
services offered by it. Hence, institutions that are operated in banking sector can undertake can
get information about competitors offering in an effectual way. Besides this, social media sites
also enable firms to assess the extent to which customers are satisfied from the services from the
offering of competitors. Thus, it can be presented that social networking sites provide companies

operated in banking sector with wide framework for decision making. Thus, by making
assessment of competitors offering and customer’s views other firms can make suitable
modifications in the existing offering. However, Malhotra and Singh (2016) argued that for
presenting content with images banking firm requires highly skilled people. Moreover, in the
case, lack of having quality content it is not possible for the firm to grab the attention level of
customers. Thus, banking institution would not become able to attain success from social media
if they fail to present quality content regarding the product or service offering.
Further, Majekodunmi and Harris (2016) investigated that by using social media tool firm
can reduce the cost and thereby would become able to improve the efficiency level to a great
extent. Moreover, firm is not required to spend high for updating information about the products
or services offered by it. In addition to this, social media sites offers opportunity to the banking
firms to keep eye on customer’s feedback. Hence, by responding to the customers and resolving
their queries within the suitable time frames banking firms can develop satisfaction among them.
This in turn helps in building customer loyalty and getting the desired level of outcome in the
competitive business arena. The rationale behind this, social media is the platform where
individuals post their views, opinions and feedbacks regarding the products or services offered
by business unit. Hence, many times customers share their views regarding the products or
services of specific firm whether they being ask to do for the same or not. Thus, banking
institution can get information about the sentiments and views of customer. Such information is
highly significant because it gives clear indication to the banking firm pertaining to designing
new or improving the existing one. Thus, it can be presented that by making more focus on
social media marketing firm can attain success to the large extent.
2.4 Impact of social media marketing on the profitability and success of banking sector
In the assessed article, Cheng, X., Fu and de Vreede (2017) mentioned that social media
marketing has greater and positive influence on the profitability aspect of banking sector.
Growth, success and profit margin of every firm is highly influenced from the aspect to which
customers are satisfied from the products or services offered to them. Quality of services and
return on investment is one of the main aspects that closely influence the customer’s decision
making in banking sector. In this, social media marketing enables firm to make suitable changes
in offering as per the feedbacks provided by the customers. For instance: In the year of 2012,

Barclays bank took initiative by launching mobile banking application. Hence, with the motive
to offer convenience to the customers banking institution created app through which one can
send money to others by using their mobile numbers. In this, optimization has been done by the
banking unit in such app on the basis of online feedbacks provided by the users. On the basis of
customer’s views and suggestions several changes have been done in such mobile app that meets
the expectation level of customers significantly. This aspect shows that, Barclays bank employed
social media technique for satisfy the expectation level of customers to a great extent. All the
above mentioned aspect shows that social media marketing is highly significant that offers more
benefits to banking sector in terms of loyal customers and high profit margin.
However, Holmlund and et.al., (2017) argued that social media marketing technique only
provides high level of assistance in attracting the current loyal customers. Moreover, when firm
introduces effectual investment products then it encourages existing people to execute the same.
On the other side, for influencing the decision making of potential or new customers banking
unit has to put the best or hardest efforts. Author entailed that repeat purchase of existing
customers can be enhanced through the means of peer to peer or social media marketing. Thus,
social media marketing helps in persuading potential candidates about the services but does not
attract new customers with high frequency as compared to the existing one. Reddick, Chatfield
and Ojo (2017) assessed that social media marketing tool enables banking sector firms to build
long term relationship with the customers. This tools offers opportunity to the company to take
continuous feedback from the customers and make necessary improvements in the services. Such
aspect shows in front of customers that banking firms have greater concern towards them. Thus,
social media marketing strengthens the relationship takes place between banking firm and its
customers and thereby helps in developing loyal customer base. In the present times, stiff
competition takes place in banking sector. In this, institutions can get benefits for long time
frame only when they have loyal customer base. Thus, by using such tool banking sector firms
can enhance as well as create loyal customers and thereby would become able to get success over
others.
Manika, Papagiannidis and Bourlakis (2017) depicted that social media marketing tool
helps in improving customer experience to the significant level. Now, personalized
communication system has got high priority for retaining customers for the long time frame.

Conversion rate is high in the case of personalization. On the basis of such aspect, when banking
firms directly contact with the customers then there is high level of possibility in relation to
converting potential individuals into customers. Kshetri and Voas (2017) claimed that social
media marketing tool helps banking units in enhancing the level of customer engagement. By
placing attractive images on social media regarding services with proper content firm can
encourage people towards the same. In this way, such marketing technique places positive
impact on the productivity and profitability aspect of banking sector firms. Besides this, social
networking sites namely Twitter, Facebook etc are used by the people internationally. Thus,
access to international market can also be improved by the banking firms through the means of
social sites. Financial institutions can attract overseas customers towards the services by giving
advertisement on social sites. Thus, by widening the customer base financial institutions can
maximize profit margin significantly.
Wamba and Carter (2016) criticized that social networking sites impose high level of risk
in front of the banking institutions. In the case of greater online exposure there is a risk that
someone hacks or leaks information about the customers or any other aspects. Along with this,
risk of negative feedbacks also exists in the case of SMM. Moreover, when customers share
negative information or views regarding the offerings then it hampers brand image. Thus,
customers tend to prefer less in relation to investing money when views of most of the people are
negative. Such kind of reviews that are provided by the customers negatively influences others
decision making and profitability aspect as well. Moreno-Munoz and et.al., (2016) shared their
views that social media is the most effectual tools that assists in enhancing the sales revenue. The
rationale behind this, social media tool enhances customer traffic on websites and improves
ranking on search engine to a great extent. Further, by using relevant content firm can grab the
attention level of customers and enhance the brand visibility. Thus, by providing information to
the large number of people firm can maximize the level of both productivity and profitability. On
the other side, Zhang and et.al., (2017) said that, in the case of social media it is highly difficult
for the firm to assess the return on investment. In addition to this, analyst would also not in
position to quantify the value of one channel over others. Thus, in the absence of having
information regarding such aspect firm cannot assess whether social media marketing tool is
offering benefit to them or not.

Majekodunmi and Harris (2016) asserted that social media marketing is the cheapest tool
which helps in promoting the products or services at large level. The reason behind this, social
sites are used by the customers now more frequently. Individuals spend more time on social sites
and share their feeling regarding the quality of products or services offered. Usually, individuals
post images of the services of specific organization to which they are highly loyal. In this way,
such images are seen by the friends and family members on social sites. Thus, it may be served
as tool which in turn helps in reaching to the large group of people. By developing awareness
among the people firm can enhance customer base and profitability to the significant level. In
contrast to this, Malhotra and Singh (2016) shared their views that social media marketing
imposes legal risk in front of banking units. Moreover, legal authority can impose fine on
concerned institution when false news is served by them. As per the laws and legislation,
banking institution has accountability to serve appropriate information without including any
false content. Thus, on the ground of false content legal authority has right to do punishment to
the concerned organization.
2.5 Literature gap
In the past studies, different scholars have done detailed discussion on the aspect of SMM
trends and related benefits. In addition to this, research papers presented by other scholar’s show
how SMM contributes in the growth and success of firm. However, scholars were not placed
emphasis on evaluating the effectiveness of SMM in the context of banking sector. Thus, by
assessing such gap scholar has conducted investigation on SMM and its association with the
banking sector.
2.6 Conclusion
From literature review section, it has been concluded that now use of SMM in banking
sector is increased significantly. Besides this, it can be inferred that SMM has greater impact on
the productivity and profitability of banking units. Moreover, SMM helps in developing
awareness among the customers regarding offerings and thereby build satisfied as well as loyal
customer base.

CHAPTER 3: RESEARCH METHODOLOGY
Research methodology includes wide range of tools and techniques that researcher
employs to find out the suitable solution of topic or issue. Design, approach, philosophy as well
as data collection and analysis tools are the main elements of methodology which in turn helps in
addressing problem in the best possible way (Manion, Cohen and Morrison, 2007). Hence,
research methodology is highly significant that provides researcher with the direction in which
study needs to be conducted. In the present study, scholar has undertaken following
methodologies to assess the role of social media marketing in the growth and success of banking
sector.
3.1 Research design
Research design is referred as method which allows having specific outcome for
the present investigation. There are diverse methods of research design which are being
employed by the experts. Classification of research design can be as descriptive, causal and
experimental (Fowler, 2009). In order to have effective outcome for the present investigation the
descriptive values are being referred. With an application of descriptive design the information
can be collected in desired manner. In addition to this, it can be said that descriptive design
application helps in analysing the role of social media marketing in the growth and success of
banking sector. With an effective consideration of such standards the overall effectiveness of
study can be well maintained. Application of descriptive design allows collecting information in
in-depth manner so that specific information can be gathered in respect to accomplishment of
objectives. It means the information about contribution and impact of social media marketing
strategy on organizational growth in the context of banking sector has been gathered properly.
With the help of this research methodology tool, researcher has gained deep and insight details
about the subject matter of the study. Along with this, it also provides an support to the other
designed methodology which are essential for the present study.

3.2 Research approach
In addition to this, it can be said that approach is a technique which helps in application
of conclusive points so that better understanding can be developed in regard to subject.
Technique of research approach is applied to conclude the understanding of the subject matter
either in generalized form of results or in specific form. There are various kinds of research
approaches which are generally employed by the researcher’s. Classification of approaches can
be as inductive and deductive. However, for the present investigation the deductive approach is
being employed to analyse role of social media marketing in the growth and success of banking
sector. Using of inductive approach in the study will only help to form generalized from of
information about significance of social media marketing in banking sector can be gathered
effectively. It also helps in effective accomplishment of data collection so that better outcome
can be attained. Selection of inductive approach was not appropriate for the present study
because it requires a specific form of collection which is not suitable according to subject of
present study. However, by having an effective application of inductive values the overall
process of research can be advanced effectively.
3.3 Research philosophy
Research philosophy provides deeper insight about the manner in which data should be
gathered and analyzed. Philosophies of research can be divided into two types such as
interpretivism and positivism. Hence, pragmatism, positivism, interpretivism and realism are the
main philosophies that are associated with the research study. Usually, scholar considers
interpretivism and positivism philosophy for presenting the fair and suitable view of study.
Selections of such approaches are highly based on the nature or type of investigation. Positivism
philosophy of research is highly structured and helps in conducting study in an appropriate
manner when sample size is large. In the field of study, interpretivism philosophy offers suitable
outcome when quantitative study is conducted. However, such philosophy can be used by the
researcher in the qualitative investigation also (Stake, 2015). Thus, usually employs such
philosophy when quantitative investigation is conducted. On the other side, interpretivism
philosophy is suitable for the qualitative investigation type. Hence, by doing in-depth
investigation on small sample size scholar can provide suitable outcome.

In the present investigation, positivism philosophy has been selected by the researcher. In
the case of quantitative investigation, positivism is one of the most effectual philosophies which
in turn assist in presenting the fair solution of issue when quantitative investigation is conducted.
Moreover, it places emphasis on determining solution by evaluating numeric facts and figures.
Hence, on the basis of selected research type, positivism philosophy is highly suitable that helps
in evaluating the extent to which social media marketing affects banking sector’s success. In
accordance with such philosophy, by analyzing and interpreting aspects in relation tom social
media marketing and banking sector’s performance researcher will present solution.
3.4 Research type
There are mainly two types of research such as qualitative and quantitative that can be
conducted by the researcher. Researcher needs to take care while making selection of research
type because it is highly based on the issue or topic. Qualitative research is highly concerned
with the understanding of theoretical aspects and human behaviour (Gay, Mills and Airasian,
2011). Thus, informant’s perspective is considered by the researcher when qualitative research is
conducted. In qualitative investigation, scholar usually collects data by employing semi-
structured techniques. Further, in this, data is analyzed in the form of themes in accordance with
the descriptions given by informants. This type of research gives suitable solution when sample
size is neither too small nor too large (Tracy, 2012). Unlike qualitative, quantitative investigation
lays high level of emphasis on assessing facts about social phenomena. Hence, it is suitable when
solution of issue can be identified through the evaluation of numeric facts and figures. In this, by
using statistical inferences numeric comparison is done by the researcher. Thus, it is used by
researcher when sample size is large and data needs to be reported via statistical analysis.
With the motive to evaluate the role and impact of social media marketing in the context
of banking sector quantitative research design has been used. Researcher has selected such type
because the present study focuses on making evaluation of social media marketing and its impact
on the growth and success of banking sector. Thus, by considering the both theoretical and
numerical aspects positivism research type has been employed by an investigator because it
completely avoids the evaluation of numeric data set. Hence, by considering such research type
data collection and analysis technique has been selected. Thus, researcher has analyzed outcome

by making evaluation of qualitative data set regarding social media marketing and its impact on
banking sector’s growth as well as performance.
3.5 Data collection
In research, data can be distinguished into types such as primary and secondary that
researcher gathers for meeting the aims and objectives. Under research study, data which is
considered by the scholar have greater impact on the effectiveness of study. Hence, primary data
is the one that researcher gathers for the first time for fulfilling the research purpose. Such data is
raw and highly effectual which in turn helps in addressing the problem or issue more effectually.
There are several methods that researcher can undertake to collect primary data includes survey,
observation, focus group, interview etc. All these tools are highly significant which in turn helps
in collecting data according to the issue which is going to be investigated (Garner and Scott,
2013). On the other side, secondary data implies for the study which has already been conducted
and published by other scholars. Through the means of internet scholar can access the sources of
library and other articles which are related to the research issue.
In this, to analyze the role of social media marketing in the growth of banking sector data
has been gathered by the researcher from both primary and secondary sources. To gather primary
research has conducted survey by using questionnaire. Hence, by preparing questionnaire,
including questions regarding social media marketing as well as banking growth, and sending the
same to the respondent’s primary data has been gathered. Thus, primary data has been gathered
by the scholar through the means of survey. Such data collection technique is highly effectual
which in turn helps in gathering appropriate information as per the issue and thereby helps in
conducting quantitative investigation more effectually. By conducting survey on 30 respondents
researcher has gained the views about the impact of social media marketing on the success of
banking sector. For the purpose of collecting primary data online survey has been conducted by
the researcher. In the selected banking institutions, researcher has sent link of online website
where questionnaire is placed and thereby gathered data. Besides this, books, journals and
scholarly articles related to social media marketing have been evaluated by the investigator. The
rationale behind the collection of secondary data is that it develops in-depth understanding about
the topic which is going to be investigated.

3.6 Sampling
In order to conduct survey in an effectual way, scholar is required to select suitable for
the study. Moreover, it is not possible for the researcher to do study on potential population due
to having limited time frame. In this, by using either probabilistic or non-probabilistic technique
scholar can determine suitable subset from identified population. Under probabilistic sampling,
scholar considers the principle of probability and thereby selects sample by giving equal chance
to each candidate of population (Flick, 2011). Simple random, cluster, strata and systematic are
the main sampling techniques that can be used for the selection of sample in accordance with
probabilistic criteria. In contrast to this, non-probabilistic technique refers to the one in which
researcher selects sample on the basis of knowledge and convenience. Non-probabilistic
sampling techniques include convenience, purposive, snow ball etc (Kumar, 2014). Thus, by
using any one specific technique that helps in assessing suitable solution scholar can conduct
survey in the best possible way.
In the current study, purposive sampling technique has been undertaken by the researcher
to select 30 managers from 5 banking institutions. The rationale behind the selection of such
technique is to select respondents from overall banking sector. Thus, primarily using purposive
sampling five leading banks of UK have been selected such as HSBC, Barclays, Lioyds, Royal
and Standard Chartered bank. Thereafter, by using simple random sampling technique 6
managers from each banking unit has been selected which in turn helps in avoiding biasness to a
great extent. Besides this, the present study is based on banking sector so managers of top 5
banking units have been selected. Hence, manager who are in the age of 30-40 years have been
selected because they have better idea about the extent to which profitability and customer base
is increased through SMM. The main motive behind undertaking the manager of HSBC,
Barclays, Lloyds banking group, Royal and Standard Chartered bank because they have better
idea about the significance of social media marketing. By considering all such aspect managers
of such leading banking institutions have been selected.
3.7 Data analysis
In order to discover highly reliable information from data set scholar applies tools and
techniques according to the research type which is selected for the study. Data analysis technique
which is selected by the researcher is highly significant which in turn helps in inspecting,

cleansing, transforming as well as modelling data more effectually. By employing suitable
technique and analyzing data set researcher can meet the goals of concerned study. Thematic
perception test and SPSS are the main techniques that researcher can employ to find out the
suitable solution of issue (Fiegen, 2010). Usually, scholar conducts thematic analysis to assess
solution by analyzing the qualitative data set. In addition to this, SPSS and other statistical
techniques offer suitable result when quantitative data set is analyzed by the researcher. This
aspect clearly shows that techniques of data analysis are highly varied in accordance with the
type of investigation undertaken.
In this, to investigate the impact of social media marketing on banking sector’s
performance qualitative research design has been considered by the scholar. On the basis of such
aspect, thematic analysis has been conducted by the researcher. By preparing several themes on
the basis of questionnaire and analyzing the viewpoints with secondary data findings researcher
has presented the extent to which social media marketing affects banking sector’s success.
Hence, by preparing themes on social media marketing and its benefits, issues as well as impact
on the growth of banking institutions thematic analysis has been conducted. Hence, by
supporting the views of respondent’s data analysis has been done by the scholar.
3.8 Ethical consideration
Researcher has accountability to meet ethical aspects or considerations while doing
investigation. Moreover, stakeholders of the study also consider ethical aspects for evaluating the
level of effectiveness. With an aim to conduct survey ethically scholar has designed consent and
ethical form. Hence, by sending consent form to the respondent’s researcher has taken
permission from them. It shows that all the managers of selected banking institutions have
participated in survey willingly. Besides this, in the ethical form researcher has also mentioned
that study is free from biasness. Paraphrasing has been done by the scholar that shows study is
not copied. Along with this, for giving credit to the authors reference list has been added and
citation of the same is done. Thus, each possible step has been taken by the researcher to meet
the ethical aspects or considerations.
3.9 Reliability and validity
For maintaining the level of validity and reliability following aspects have been
considered by the researcher such as:

 In order to maintain validity, articles related to the topic such as social media marketing
and banking has been considered by the scholar. Thus, valid sources have been used by
taking into account the research topic or issue.
 For enhancing reliability, recently published sources have been evaluated by the
researcher for developing understanding about research issue. Moreover, latest sources
offer highly valid and appropriate information about the topic in line with the changing
business arena.
 Along with this, to build and maintain reliability scholar has presented the outcome of
primary data with the high level of accuracy. Hence, no modifications have been done by
the scholar in the data set. It exhibits that researcher has maintained high level of
reliability in the section of data analysis.
3.10 Research limitations
In the area of research, there are several factors that influence the significance of study
and its outcome. Time, financial and availability of others resources are the major aspects that
have greater impact on research study. Researcher has responsibility to accomplish study within
the specified time frame. Due to this, it is not possible for the scholar to carry out in-depth
investigation. Hence, to cope up with such issue or limitation scholar has framed timeline or
Gantt chart for instructing during the whole study. Moreover, timeline provides direction to the
researcher about the time which specific activity needs to be accomplished (Daniel and Sam,
2011). Besides this, scholar has faced difficulty in accessing the websites which are related to
social media marketing and its impact on banking sector. There were several sites that demands
for amount and personal details. Whereas, some sites were highly protective that cannot be
accessed easily. Hence, to deal with such situation researcher has assessed related article by
doing investigation. Further, to resolve the issue of financial resources scholar has conducted
thematic analysis that highly suits to the investigation type such as qualitative. Along with this,
due to the limited time frame scholar has conducted survey only on 30 respondents. However,
for the selection of simple random sampling has been used by the researcher. This in turn helps
in reducing the level of biasness significantly. Hence, significant actions or measures have been
undertaken by the researcher to deal with the issues affect study and its outcomes.

CHAPTER 4: DATA ANALYSIS AND FINDINGS
Data analysis may be served as a process of evaluating data set through the means of
appropriate tools and techniques in accordance with the research type selected. Hence, under this
chapter, scholar uses analytical and logical reasoning to evaluate or examine the each component
of data provided. In addition to this, by undertaking statistical and logical techniques data set can
be described, illustrated, condensed and evaluated in the best possible way. This chapter of
dissertation is highly significant which in turn clearly reflects the findings of study. Thus,
selection of appropriate tools and techniques are the prior requirements for discovering suitable
information from data set. In this, to analyze the role of social media marketing in the context of
banking industry thematic analysis has been conducted by the researcher. By considering the
views of respondents several themes have been prepared along with the graphs or charts. Besides
this, for presenting the fair view of study, scholar has supported all the findings from data
gathered through the means of secondary sources. In addition to this, descriptive statistics and
regression analysis tool has been applied by the researcher to evaluate and present the impact of
SMM on banking sector’s performance.
Theme 1: Social media marketing is the most effectual marketing tool over traditional tools
Particulars Views of respondents % of respondents
Yes 25 83.33%
No 5 16.67%
Total 30 100%

Yes No
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
% of respondents
% of respondents
Figure 1: Social media marketing is the most effectual marketing tool over traditional tools
Interpretation: Outcome of primary data investigation presents that, 83.33% respondents
entailed social media marketing is the prominent marketing tool in comparison to traditional
tools. This aspect can be supported through literature review section which presents that SMM
helps in developing contact with the large number of customers including both existing and
potential. Hence, such marketing strategy enables banking institutions to enhance customer base
at low cost. By taking into account both financial and non-financial benefits manager of banking
institutions support SMM over the traditional one. In contrast to this, 16.67% managers of
financial institutions, major players in banking sector, presented their views that traditional
marketing tools offer suitable results as compared to others. Moreover, traditional marketing is
free from the fear of negative feedbacks given by some customers. Thus, by employing
traditional tools banking institutions can persuade to customers about the investment policies in
the best possible way.
Theme 2: Social media marketing tool helps in understanding the customer’s expectation
Particulars Views of respondents % of respondents
Yes 27 90%
No 3 10%
Total 30 100%

Yes No
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
% of respondents
% of respondents
Figure 2: Social media marketing tool helps in understanding the customer’s expectation
Interpretation: The above depicted table presents that 90% respondents exhibits SMM is
the best tools which in turn helps in understanding the needs, wants and expectation of the
customers. Moreover, in the case of SMM, customers share their views and experiences
regarding the services used by them. This in turn gives quick indication to the financial
institutions operating in banking sector about the areas that require more improvements. Thus, by
keeping an eye on the feedbacks of customers and making evaluation of the same banking firms
can understand the point of views of customers. In addition to this, 10% respondents or banking
sector managers shared their views that it is not possible to make clear idea about the customer’s
expectation through SMM. Moreover, sometimes individuals comment on advertisement
presented on social media considering the level of biasness. In this, banking firms are not in
position to make appropriate changes in the services offered. 10% managers of banking sector
believe that by making evaluation of sales and taking individual feedbacks banking firms can
assess the expectation level of customers.
Theme 3: Respondents strongly agreed that banking institution can assess potential customers
via social media marketing
Particulars Views of respondents % of respondents
Agree 8 27%
Strongly agree 12 40%

Neutral 5 17%
Disagree 3 10%
Strongly disagree 2 7%
Total 30 100%
Agree Strongly
agree Neutral Disagree Strongly
disagree
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
% of respondents
% of respondents
Figure 3: Respondents strongly agreed that banking institution can assess potential
customers via social media marketing
Interpretation: Graphical presentation shows that 27% managers agreed and 40% strongly
agreed with the statement that potential customers can be identified through the means of social
media marketing. Views of manager are highly in line with the findings generated through the
means of journals and scholarly article evaluation. From secondary data analysis, it has been
found that when individuals who like the specific products or service then banking institutions
can predict them as potentials. Thus, by developing regular contact with such people banks such
as HSBC, Barclays, Llyods, Royal, Standard Chartered can convert potential candidate into
customer. By considering the above depicted aspect 17% respondents gave their neutral
consensus in relation to the above depicted statement. In contrast to this, 10% managers from
such five banking institutions disagreed and other 7% strongly disagreed with the statement that
they can get potential customers via SMM. The main reasons behind this, it is not possible for
the banking units to identify potential customers in the highly competitive environment.

Theme 4: Managers agreed that manager can analyze the level of competition by adopting
social media marketing tool
Particulars Views of respondents % of respondents
Agree 10 33%
Strongly agree 8 27%
Neutral 7 23%
Disagree 3 10%
Strongly disagree 2 7%
Total 30 100%
Agree Strongly
agree Neutral Disagree Strongly
disagree
0%
5%
10%
15%
20%
25%
30%
35%
% of respondents
% of respondents
Figure 4: Managers agreed that manager can analyze the level of competition by adopting
social media marketing tool
Interpretation: By doing survey, it has been identified that most of the managers such as
33% (agreed) and 27% (strongly agreed) said that level of competition can be evaluated through
SMM. In literature review section, it is mentioned that now every firm of banking sector is
involved in the practices of SMM. Thus, for providing information to the customers all firms
post images about their products or services on social sites such as Facebook, Twitter etc. Hence,
by reviewing such images banking sector firms can make evaluation of competitors offering.
Thus, by keeping all such aspects in mind such five banking units can make suitable changes in
the policies. Further, 23% presented their neutral decision, 10% disagreed and 7% strongly
disagreed regarding asked statement. Moreover, one can get information about the competitor’s

products or services through SMM. However, it is not possible for the firm to make clear idea
about the customer base and financial aspect of rivals.
Theme 5: Managers agreed that social media marketing concept develops awareness among
the customers
Particulars Views of respondents % of respondents
Agree 13 43%
Strongly agree 8 27%
Neutral 7 23%
Disagree 1 3%
Strongly disagree 1 3%
Total 30 100%
Agree Strongly
agree Neutral Disagree Strongly
disagree
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
% of respondents
% of respondents
Figure 5: Managers agreed that social media marketing concept develops awareness among
the customers
Interpretation: Results of survey shows that 43% respondents agreed and 27% strongly
agreed with the aspect by using social media graph of raising customer awareness can be
enhanced significantly. Secondary data outcome also presents that by sharing images about the
new offerings banking units can entice the decision making aspect of customers. Now,
connectivity of people with social sites increased to a great extent as compared to the prior years.
In this, by uploading the images of products or services banking firms can influence the decision
making of others. On the other side, 23% respondents neutrally agreed and 6% disagreed with

the aspect that social media helps in developing awareness among the customers. This aspect can
be supported through literature review section which presents that if people of specific regions
make less use of social media then SMM would not be highly effectual. Hence, such respondents
or managers presented that traditional marketing tools are equally vital for achieving the
predetermined goals.
Theme 6: Facebook and Twitter helps in building and maintaining strong relationship with
the customers
Particulars Views of respondents % of respondents
Facebook 8 27%
Twitter 8 27%
Instagram 6 2%
Pinterest 4 13%
All of the above 4 13%
Total 30 100%
Facebook Twitter Instagram Pinterest All of the
above
0%
5%
10%
15%
20%
25%
30%
% of respondents
% of respondents
Figure 6: Facebook and Twitter helps in building and maintaining strong relationship with
the customers
Interpretation: By doing analysis of the view points of respondents it has been identified
that approximately 54% respondents said that Facebook and Twitter are the most effectual
mediums which in turn help in building relationship with the customers. The main reason behind
this, frequency of people in relation to accessing SMM increased to a great extent over the years.

In this, by sharing attractive images pertaining to the products or services banking firm can
encourage customers to present their issues and ideas. In this, banking units have opportunity to
develop healthy relationship with the customers by resolving all queries in a satisfactorily
manner. Besides this, other sites such as Instagram and Pinterest also enable financial institution
to build strong relationship.
Theme 7: Managers are satisfied with the results of social media marketing outcomes
Particulars Views of respondents % of respondents
Satisfied 12 40%
Highly satisfied 8 27%
Neither satisfied nor dissatisfied 7 23%
Dissatisfied 2 7%
Highly dissatisfied 1 3%
Total 30 100%
Satisfied
Highly satisfied
Neither satisfied nor dissatisfied
Dissatisfied
Highly dissatisfied
0%
10%
20%
30%
40%
% of respondents
% of respondents
Figure 7: Managers are satisfied with the results of social media marketing outcomes
Interpretation: In survey, managers of leading financial institutions said that they are
satisfied from the results of SMM. Moreover, such marketing technique widens the reach of
financial institutions at lower cost level. 40% managers are satisfied and 27% (highly satisfied)
from the outcome of SMM. Moreover, SMM provides opportunity to the firm to resolve all the
queries of customers in a satisfactorily manner. Further, SMM also assists in identifying

potential customer base and maintaining fruitful relation with customers for longer duration.
Further, 7% managers said that they are dissatisfied and remaining 3% accounts for the category
of high level of dissatisfaction. One of the respondents said that now before making selection of
banking unit and associated products customers make review of others for getting information
about quality. In this, negative reviews of others place greater influence on decision making of
potential candidates and hamper brand image of organization as well. It is one of the main
reasons due to which some managers showed their dissatisfaction toward such aspect.
Theme 8: Social media marketing assists banking institutions in building sound relationship
with the customers
Particulars Views of respondents % of respondents
Word of mouth publicity 10 33%
High customer loyalty 8 27%
Building and maintenance of
long term relationship
12 40%
Total 30 100%
0%
10%
20%
30%
40%
% of respondents
% of respondents
Figure 8: Social media marketing assists banking institutions in building sound
relationship with the customers
Interpretation: The above depicted graph presents that most of the managers such as 40%
depicted that SMM is the tool that assists in developing and maintaining relationship for longer

duration. Moreover, through SMM, banking firm can keep an eye of customer’s feedback
continuously and thereby would become able to take suitable action for the purpose of
improvement. Further, it has been assessed that SMM facilitates and enhance the level of word
of mouth publicity to the significant level. 33% managers shared their view that individuals who
like the products or services of their preferred banking unit then they make more focus on
commenting on the same. In addition to this, individuals also make more focus on sharing the
images of specific products or services. This aspect shows that SMM helps in developing
awareness among the large number of customers regarding investment products or services.
Further, 27% respondents participated in survey stated that SMM helps in building and
enhancing the level of customer loyalty. Moreover, on social sites banking firms make their best
efforts in relation to resolving the queries or issues which are facing by the customers. Thus, by
providing customers with suitable products or services satisfaction and loyalty aspect of
customers can be enhanced.
Theme 9: Threat in relation to negative feedbacks from customers imposes issue in front of
banking institution when it practices social media marketing
Particulars Views of respondents % of respondents
Time intensity 10 33%
Negative feedbacks from
customers
13 43%
Security breaches 7 23%
Total 30 100%

Time intensity Negative
feedbacks from
customers
Security breaches
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
% of respondents
% of respondents
Figure 9: Threat in relation to negative feedbacks from customers imposes issue in front of
banking institution when it practices social media marketing
Interpretation: Tabular presentation depicts that negative comments made by customers
in the case of SMM imposes high level of threat in front of banking unit. Moreover, not all the
customers have similar experience towards the specific products or services offered by banking
institutions. In this, negative comments of customers place direct and inverse impact on image as
well as market share of financial institution. On the other side, 33% respondents presented that
time intensity is another main problems that is facing by financial institutions in the case of
SMM. Managers depicted that for building strategic presence and grabbing the attention level of
customers it is required to share effectual image with proper content. Along with this, it can be
said that security breaches is another major issues that affects practices in relation to SMM. In
SMM, there is a fear factor that someone will access the personal information of customers and
related data base. Thus, out of such 3 major issues it can be said that negative feedbacks
provided by the customers considered as a major threat for banking institution.
Theme 10: Managers agreed that social media marketing has high conversion rate
Particulars Views of respondents % of respondents
Agree 11 37%
Strongly agree 7 23%
Neutral 8 27%

Disagree 2 7%
Strongly disagree 2 7%
Total 30 100%
Agree Strongly
agree Neutral Disagree Strongly
disagree
0%
5%
10%
15%
20%
25%
30%
35%
40%
% of respondents
% of respondents
Figure 10: Managers agreed that social media marketing has high conversion rate
Interpretation: From assessment, it has been found that 37% (agreed), 23% (strongly
agreed) and 27% (neutrally agreed) support the aspect that social media has high conversion rate.
By uploading information about products or services on SMM in a highly attractive manner
banking unit can affect decision making of others. Besides this, by making contact with
customers on a regular basis through SMM and resolving the queries of customer’s institutions
which are operating in banking sector can convert potential customer into the real one. On the
other side, around 14% gave their negative feedback on statement asked to them. Moreover, in
the case of banking products or services awareness can be developed regarding offering.
However, it is not possible for the firms like banking units to convert potential candidate into
new one through SMM. The main reasons behind this, customers make in-depth evaluation of
every aspect before choosing banking units because it involves more investment in financial
terms.
Theme 11: Social media marketing contributes in the growth and success of financial
institution to a great extent
Particulars Views of respondents % of respondents

To the middle extent 10 33%
To a great extent 13 43%
To some extent 7 23%
Total 30 100%
To the middle
extent To a great extent To some extent
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
% of respondents
% of respondents
Figure 11: Social media marketing contributes in the growth and success of financial
institution to a great extent
Interpretation: Primary data outcome reveals that 43% respondents entail that social
media marketing makes contribution in the growth and success of banking institution to a great
extent. Besides this, 33% manager of selected banking institution shared their views that SMM
helps them in realizing goals and objectives. Further, 23% managers said through survey that
SMM contributes in the growth of monetary institution to some extent. From both primary as
well as secondary data analysis it has been asserted that traditional marketing tools are expensive
and have limited reach. On the other side, SMM enables banking unit to develop satisfaction
among the customers and turn it into loyalty. In the strategic business arena, banking firm can
attain goals only when it has loyal customer base. Thus, with the help of loyal customer base
financial institution can aid in the productivity as well as profitability to the large extent.
Theme 12: Significant relationship takes place between social media marketing and banking
sector’s productivity as well as profitability
Particulars Views of respondents % of respondents

Yes 23 77%
No 7 23%
Total 30 100%
Yes No
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
% of respondents
% of respondents
Figure 12: Significant relationship takes place between social media marketing and
banking sector’s productivity as well as profitability
Interpretation: In survey, large number of managers, approximately 77%, said SMM as
well as productivity and profitability of banking units are highly associated with each other.
Moreover, SMM gives chance to the banking units to understand the customer views in an
appropriate manner. Besides this, SMM also provides opportunity to the firms which are
operating in banking sector to make suitable changes in the technological aspects within the
suitable time frame. On the other side, 23% manager presented that SMM and financial
institution’s productivity is not related with each other. Moreover, now each and every banking
unit is laying emphasis on providing information about their offerings via SMM. In this,
customers have opportunity to evaluate the risk as well as return of each product and thereby
take suitable investment decision. Thus, overall evaluation presents that SMM provide numerous
benefits to the banking firm and helps in generating success.
Quantitative assessment
Descriptive statistics

N Ra
nge
Min
imu
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Max
imu
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Su
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Mean Std.
Dev
iatio
n
Var
ianc
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Skewn
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Sta
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Stat
istic
Sta
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ic
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d.
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or
Sta
tist
ic
St
d.
Er
ro
r
socialmediamarketingiseffectua
lthantraditionaltool 30 1 1 2 35 1.1
7
.0
6
9
.379 .14
4
1.8
84
.4
2
7
1.6
57
.8
3
3
SMMassistsinundestandingcust
omersexpectation 30 1 1 2 33 1.1
0
.0
5
6
.305 .09
3
2.8
09
.4
2
7
6.3
08
.8
3
3
assessmentofpotentialcustomer
sviaSMM 30 4 1 5 69 2.3
0
.2
1
5
1.17
9
1.3
90
.85
5
.4
2
7
.07
8
.8
3
3
analyzinglevelofcompetitionthr
oughSMM 30 4 1 5 69 2.3
0
.2
2
6
1.23
6
1.5
28
.67
2
.4
2
7
-.3
99
.8
3
3
Developingawarenessamongthe
customersviaSMM 30 4 1 5 59 1.9
7
.1
9
5
1.06
6
1.1
37
.98
5
.4
2
7
.63
7
.8
3
3
Roleofsocialsitesinbuildingrelat
ionship 30 4 1 5 78 2.6
0
.2
5
2
1.38
0
1.9
03
.45
2
.4
2
7
-.9
76
.8
3
3
satisfactionwiththeresultsofban
k 30 4 1 5 62 2.0
7
.2
0
3
1.11
2
1.2
37
.82
8
.4
2
7
.06
9
.8
3
3
benefitsofsmm 30 2 1 3 62 2.0
7
.1
5
9
.868 .75
4
-.1
34
.4
2
7
-
1.6
92
.8
3
3

factorsinfluencesmm 30 2 1 3 57 1.9
0
.1
3
9
.759 .57
6
.17
2
.4
2
7
-
1.1
87
.8
3
3
SMMhashighconversionrate 30 4 1 5 67 2.2
3
.2
2
3
1.22
3
1.4
95
.73
3
.4
2
7
-.2
09
.8
3
3
contributionofsmminthegrowth
andsuccessoffinancialinstitutio
n
30 2 1 3 57 1.9
0
.1
3
9
.759 .57
6
.17
2
.4
2
7
-
1.1
87
.8
3
3
relationshipbetweenSMMandba
nkingsectorsgrowth 30 1 1 2 37 1.2
3
.0
7
9
.430 .18
5
1.3
28
.4
2
7
-.2
57
.8
3
3
Valid N (listwise) 30
Interpretation: Outcome of descriptive statistics shows mean value is in first two variables
which show that SMM is highly effectual tool over traditional marketing technique. Besides this,
mean value presents that SMM is highly significant that provides assistance to the banking sector
firms in understanding the expectation level of customers. Along with this, from assessment, it
has been found that large number of managers from the selected banking institutions strongly
agreed with the aspect that SMM helps in understanding customer’s expectation as well as assists
in evaluating the level of competition. In addition to this, it has been identified from the
assessment that managers selected from top banking strongly agreed that awareness can be
developed among the customers by using SMM. By doing secondary data analysis, it has been
found that by uploading the images of products and services on SMM banking sector firms can
aware its customers (Manika, Papagiannidis and Bourlakis, 2017). Along with this, managers
entailed in survey that Facebook and Twitter are the main social sites that assists in building as
well as maintaining healthy relationship with the customers.
Further, managers presented in survey that they are highly satisfied with the results of
SMM. In addition to this, through applying regression analysis tool it has been found that SMM
tool helps in generating high customer loyalty. Results of descriptive statistics also entails that
negative feedbacks that are generated from customers impose high level of issue in front of
banking institution. Table depicted above also shows that SMM tool has high conversion rate
because it offers opportunity to the firm to regularly contact with the potential customers
(Moreno-Munoz and et.al., 2016). Descriptive statistics result also shows that SMM and banking
sectors growth is highly correlated.

Regression
H0 (Null hypothesis): There is no significant difference in the mean values of banking
institution’s growth and other variables like competition, conversion rate, relationship with
customers.
H1 (Alternative hypothesis): There is a significant difference in the mean values of banking
institution’s growth and other variables like competition, conversion rate, relationship with
customers.
Model Summary
Model R R Square Adjusted R
Square
Std. Error of
the Estimate
1 .336a .113 .011 .755
a. Predictors: (Constant), SMMhashighconversionrate,
analyzinglevelofcompetitionthroughSMM,
Roleofsocialsitesinbuildingrelationship
ANOVAa
Model Sum of
Squares
df Mean Square F Sig.
1
Regression 1.888 3 .629 1.105 .365b
Residual 14.812 26 .570
Total 16.700 29
a. Dependent Variable:
contributionofsmminthegrowthandsuccessoffinancialinstitution
b. Predictors: (Constant), SMMhashighconversionrate,
analyzinglevelofcompetitionthroughSMM, Roleofsocialsitesinbuildingrelationship
Coefficientsa
Model Unstandardized
Coefficients
Standardized
Coefficients
t Sig.

B Std. Error Beta
1
(Constant) 1.998 .497 4.016 .000
analyzinglevelofcompetit
ionthroughSMM .120 .117 .196 1.030 .313
Roleofsocialsitesinbuildi
ngrelationship -.008 .106 -.014 -.075 .941
SMMhashighconversionr
ate -.158 .117 -.255 -1.357 .187
a. Dependent Variable: contributionofsmminthegrowthandsuccessoffinancialinstitution
Interpretation: By applying regression tool on data set it has been assessed that value of
R and R square is .34 & .11 respectively. This aspect shows that moderate relationship takes
place between the factors undertaken for the purpose of assessment. In addition to this, outcome
derived from regression analysis shows that significance value is .365 significantly. It shows that
that null hypothesis is true because p>0.05. By considering this, it can be said that SMM
provides high level of assistance to the banking institutions in making assessment of competition
level and thereby assists them to develop highly strategic framework.
Besides this, SMM tool is highly significant which in turn provides high level of
assistance in providing information to the customers about the products or services as well as
resolving their queries. Along with this, SMM enables financial institutions to make regular
contact with the customers and thereby convert them into loyal one. This aspect can clearly be
supported with literature review section which in turn presents that now individuals are highly
active on social sites such as Facebook, Twitter, Pinterest etc. Hence, by approaching to the
customers through such social sites banking institution can evolve satisfaction among the
customers and thereby would become able to develop customer base ( Malhotra and Singh,
2016). By taking into account all the above aspects, it can be said that SMM makes vital
contribution in the growth and success of banking sector including firms like HSBC, Barclays,
Llyods, Royal, Standard Chartered etc.
Conclusion: From data analysis section, it has been concluded that role of SMM is vital
in developing awareness among the customers. Besides this, it can be inferred from both
qualitative and quantitative assessment that SMM makes remarkable contribution in the growth
and success of banking sector’s profitability. Literature review section also presents that for

updating with the latest information individual use SMM. Thus, it can be stated that SMM
provides high level of assistance in building effectual customer base.

CHAPTER 5: CONCLUSION AND RECOMMENDATIONS
5.1 Conclusion
By summing up this dissertation, it has been concluded that now role of social media is
enhanced banking sector to a great extent. Through conducting both primary and secondary data
investigation it has been assessed that social media marketing tool makes remarkable
contribution in the growth and success of project. It has been articulated from the evaluation that
social media marketing technique enables firm to understand the needs, wants and expectations
of customers. In this way, such marketing tool offers opportunity to the banking unit in relation
to making suitable changes in the existing offering. Thus, by offering tailor made products or
services to the customers banking firm can attain success to the significant level. In addition this,
it can be inferred from secondary data analysis that social media marketing tool helps in
assessing the level of competition. Thus, by evaluating the competitors offering banking unit can
develop suitable product as well as marketing mix.
It can be summarized from the investigation that social media marketing is highly
important for banking sector and helps it in meeting goals as well as objectives. From primary
investigation it also can be concluded that social media is highly effectual marketing tools which
in turn helps in developing contact with the large number of people. It can be seen in the report
that manager of top 5 banking institutions of UK presented that social media marketing tool
helps them in understanding the expectation level of customers. In addition to this, it can be
stated that firms that are operating in banking sector can assess and thereby target potential
candidate via social media marketing. This aspect shows that now social media marketing
becomes the vital requirement of business unit. It can be said from primary data investigation
that awareness among the customers can be developed regarding both existing and new offerings
through social media marketing. Hence, manager of Barclays, HSBS, Lloyd, Royal and Standard
Chartered bank can enhance productivity and profitability by developing awareness among the
customers. It shows that social media marketing tool contributes in the growth and success of
companies operating in banking sector to the large extent.

Further, it has been identified from primary data investigation that Facebook and Twitter
are the most effectual social networking sites that assist banking firms in developing relationship
with the customers. Now, individuals become more active on social sites like Facebook, twitter,
Instagram etc. Hence, by creating page on such sites and sharing images firms of banking sector
can build as well as strengthen relationship with the customers. It can be concluded from the
outcome of survey that managers of banking sector are satisfied from the results of social media
marketing. The main reasons behind this now firm can gain competitive edge over others only
when it offers suitable products or services to the customers. Besides this, in the world of
automation banking units introduce several new services with the motive to offer convenience to
the customers. In this, there is possibility that some loopholes exist in the automotive services or
new products offered by the banking unit. Under such situation, social media marketing is the
one which in turn helps in developing better connectivity. Further, it also gives indication to the
banking firms about the areas where difficulties are facing by the customers. In this way, by
assessing the potential areas for improvement and taking strategic action within the suitable time
frame banking unit can attain success.
It can be depicted from primary data investigation that there are several aspects which in
turn impose threat in front of the banking institution when they practice social media marketing.
All such issues include time intensity, negative feedbacks and security breaches which in turn
closely influences the effectiveness of outcomes. However, selected managers of leading 5
banking institution stated that at the time of social media marketing managers have fear factor
regarding negative feedbacks. Moreover, negative comments affect the decision making of
potential customers and brand image inversely. SMM offers several benefits to the banking
sector firms in terms of high customer loyalty and base, competition, building relationship with
target market etc. It can be inferred from both primary and secondary data investigation that
social media marketing and growth of banking firms are highly associated with each other.
5.2 Recommendations
 It is recommended to banking institutions such as Barclays, Lloyds, HSBC, Royal and
Standard Chartered bank to make more focus on security aspect. By employing highly
effectual software banking firms would become able to make control on illegal as well as
unethical practices such as hacking.

 In addition to this, from data analysis section it has been identified that time intensity is
another main issue that is facing by companies operated in banking sector. Thus, for
saving time and reducing the level of expense financial institutions require to assess
innovative ways for performing tasks. Hence, through the means of automation banking
firms can share content and related images in the best possible way.
 Besides this, it is suggested to the banking units to take it negative feedbacks provided
by customers on a serious note because it has greater influence on brand image. Thus,
managers of banking institution require dealing with the comments on social networking
sites carefully. By replying on the client comment in a positive way banking units can
build distinct position in the mind of customers.
Hence, by following all such recommendations banking units would become able to attain
goals within the suitable time period.

REFERENCES
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Questionnaire
Demographic information
Name ……………..
Age ………….
Years of employment in banking sector …………..
Q.1Do you believe that social media marketing is effectual marketing tool over traditional tools?
 Yes ()
 No ()
Q.2Do you think that social media marketing helps in understanding the customer’s expectation?
 Yes ()
 No ()
Q.3Do you agree that banking institution can assess potential customers via social media
marketing?
 Agree ()
 Strongly agree ()
 Neutral ()
 Disagree ()
 Strong disagree ()
Q.4Do you agree that manager can analyze the level of competition by adopting social media
marketing tool?
 Agree ()
 Strongly agree ()
 Neutral ()
 Disagree ()
 Strong disagree ()

Q.5 Do you agree that social media marketing concept develops awareness among the
customers?
 Agree ()
 Strongly agree ()
 Neutral ()
 Disagree ()
 Strong disagree ()
Q.6 From the below mentioned networking sites which one helps in building and maintaining
strong relationship with the customers?
 Facebook ()
 Twitter ()
 Instagram ()
 Pinterest ()
 All of the above ()
Q.7 Are you satisfied with the results of social media marketing outcomes attained by your
bank?
 Satisfied ()
 Highly satisfied ()
 Neither satisfied nor dissatisfied ()
 Dissatisfied ()
 Highly dissatisfied ()
Q.8 Which is one of the main benefits that is offered by social media marketing to banking
institutions?
 Word of mouth publicity ()
 High customer loyalty ()
 Building and maintenance of long term relationship ()

Q.9 Stating the factors which impose issue in front of banking institution when it practices social
media marketing?
 Time intensity ()
 Negative feedbacks from customers ()
 Security breaches ()
Q.10 Do you agree that social media marketing has high conversion rate?
 Agree ()
 Strongly agree ()
 Neutral ()
 Disagree ()
 Strong disagree ()
Q.11 Stating the extent to which do you find that social media marketing contributes in the
growth and success of financial institution?
 To some extent ()
 To the middle extent()
 To a great extent ()
Q.12Is there significant relationship takes place between social media marketing and banking
sector’s productivity as well as profitability?
 Yes ()
 No ()
Q.13 Do you want to give any recommendation for improvement………….Kindly specify if
any

APPENDIX
Question 1
(Source:https://www.surveymonkey.com/analyze/
55IX4ykhcLOHiuWy486AoKJbwPtt6AR623aomURfX3U_3D)
Question 2:

(Source:https://www.surveymonkey.com/analyze/
55IX4ykhcLOHiuWy486AoKJbwPtt6AR623aomURfX3U_3D)
Question 3

(Source:https://www.surveymonkey.com/analyze/
55IX4ykhcLOHiuWy486AoKJbwPtt6AR623aomURfX3U_3D)

(Source:https://www.surveymonkey.com/analyze/
ruJ7Zst7W496p6xFFm2Q_2BSXDo3a1DcQQBxop0tuKxsQ_3D)
Question 4

(Source:https://www.surveymonkey.com/analyze/
55IX4ykhcLOHiuWy486AoKJbwPtt6AR623aomURfX3U_3D)
Question 5

(Source:https://www.surveymonkey.com/analyze/
ruJ7Zst7W496p6xFFm2Q_2BSXDo3a1DcQQBxop0tuKxsQ_3D)
Question 6

(Source:https://www.surveymonkey.com/analyze/
55IX4ykhcLOHiuWy486AoKJbwPtt6AR623aomURfX3U_3D)
Question 7

(Source:https://www.surveymonkey.com/analyze/
55IX4ykhcLOHiuWy486AoKJbwPtt6AR623aomURfX3U_3D)
Question 8

(Source:https://www.surveymonkey.com/analyze/
55IX4ykhcLOHiuWy486AoKJbwPtt6AR623aomURfX3U_3D)
Question 9
(Source:https://www.surveymonkey.com/analyze/
55IX4ykhcLOHiuWy486AoKJbwPtt6AR623aomURfX3U_3D)
Question 10

(Source:https://www.surveymonkey.com/analyze/
55IX4ykhcLOHiuWy486AoKJbwPtt6AR623aomURfX3U_3D)
Question 11

(Source:https://www.surveymonkey.com/analyze/
55IX4ykhcLOHiuWy486AoKJbwPtt6AR623aomURfX3U_3D)
Question 12