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