EFFECT OF SOCIAL MEDIA MARKETING ON CUSTOMER BRAND ENGAGEMENT IN THE BANKING INDUSTRY: EVIDENCE FROM AN EMERGING ECONOMY

Abstract

The ubiquitousness of social media has made it an effective strategy for firms to communicate with consumers. Despite its relevance, it can be daunting and confusing when used as a marketing tool. This study examines the influence of social media marketing on customer-brand engagement in the banking industry. Based on a quantitative design, data were collected from 224 active followers of commercial banks’ social media pages in Nigeria. Cronbach’s alpha was used to test the reliability of the data while the hypotheses were analyzed using multiple regression analysis. The result showed that the social media marketing dimensions of entertainment, personalization and eWOM positively and significantly affect customer-brand engagement. Therefore, it was recommended that firms should design and develop contents that are fun, exciting, and resonates with customers and customize content to customers’ interests. Also, firms should incentivize customers to share their brand experiences on their platforms.