Project on Social Media Marketing's Role in Banking Profitability

This project investigates the significance of social media marketing within the banking sector, focusing on its impact on profitability and overall success. The research employs a descriptive design, inductive approach, positivism philosophy, and quantitative methods, utilizing an online survey for data collection and thematic analysis. Key findings highlight that social media marketing is considered a highly effective tool for understanding customer expectations, assessing potential customers, analyzing competition, and developing customer awareness. Platforms like Facebook and Twitter are instrumental in building and maintaining strong customer relationships, leading to manager satisfaction with social media marketing outcomes. The study also identifies potential threats related to negative customer feedback. Ultimately, the project concludes that social media marketing significantly contributes to the growth and success of financial institutions by fostering strong customer relationships, enabling tailored product offerings, and facilitating competitive analysis, thereby enhancing the banking sector's productivity and profitability.

INDIVIDUAL
BUSINESS PROJECT

RESEARCH QUESTION AND METHODS
Research questions:
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?
Research methods:
Research design: Descriptive
Research approach: Inductive
Research philosophy: Positivism
Research type: Quantitative
Data collection: Online survey
Data sampling: Purposive
Data analysis: Thematic

RESULTS AND ANALYSIS
Theme 1: Social media marketing is the most effectual
marketing tool over traditional tools

Theme 2: Social media marketing tool helps in
understanding the customer’s expectation

Theme 3: Respondents strongly agreed that banking
institution can assess potential customers via social
media marketing

Theme 4: Managers agreed that manager can analyze
the level of competition by adopting social media
marketing tool

Theme 5: Managers agreed that social media
marketing concept develops awareness among the
customers

Theme 6: Facebook and Twitter helps in building and
maintaining strong relationship with the customers

Theme 7: Managers are satisfied with the results of
social media marketing outcomes

Theme 8: Social media marketing assists banking
institutions in building sound relationship with the
customers

Theme 9: Threat in relation to negative feedbacks
from customers imposes issue in front of banking
institution when it practices social media marketing

Theme 10: Managers agreed that social media
marketing has high conversion rate