Social Media Marketing and Organisational Efficiency of Deposit Money Banks in Nigeria

Doctoral Thesis / Dissertation from the year 2020 in the subject Business economics - Offline Marketing and Online Marketing, grade: Rivers State, , course: Marketing, language: English, abstract: The study examined the effect of social media marketing on organizational efficiency of deposit money banks in Nigeria. Blog, Facebook, Twitter and LinkedIn were used as the dimensions of social media platforms in this study. The study used conversion rate, web traffic and customer engagement to measure organisational efficiency of banks. Also, trust was used as a moderating variable in this study. The study adopted descriptive and inferential statistical tools to analyze the data and test the hypotheses. The study used a questionnaire to elicit information from the respondents. The population of the study consisted of all the 22 deposit money banks approved by CBN. The study sampled 154 respondents from 22 deposit money banks in Nigeria and validly used 133 respondents representing 86.36% response rate for data analysis. The study found that banks use blog, Facebook, Twitter and LinkedIn to conduct their marketing activities in the manner of brand promotion and persuasion of customers to patronize them and these activities enhance organisational efficiency of banks. The study revealed that blog has positive but insignificant effect on conversion rate and web traffic but positive and significant effect on customer engagement. The study discovered that Facebook has positive and significant effect on conversion rate, web traffic and customer engagement. The study revealed that Twitter has positive and significant effect on conversion rate, web traffic and customer engagement. The study found that LinkedIn has positive and insignificant effect on conversion rate and customer engagement but negative and insignificant effect on web traffic. The study also, found that trust moderates and has strong positive and significant effect on social media marketing and organisational efficiency of banks. The study concludes that as banks use blogs, Facebook, Twitter and LinkedIn to create awareness about their products and services on the internet their conversion rates, web traffic and customer engagement are significantly and positively boosted. The study therefore recommends that bank managers should use blog, Facebook, Twitter and LinkedIn to their advantage by encouraging bank staff and not just the marketing department to participate in social media marketing which in turn covers more ground for the enhancement of conversion rate, web traffic and customer engagement leading to organisational efficiency of banks.