ON THE POTENTIAL FOR TWITTER TO ADD VALUE IN RETAIL BANK RELATIONSHIPS

LISA MURRAY, Mark Durkin

Research output: Contribution to journalArticle

11 Citations (Scopus)

Abstract

It is argued that research within financial services marketing has omitted to pay sufficient attention to social media in banking contexts generally and its potential impact on retail bank relationships in particular. At a general level, this research study explores the advent of social media and the manner of its deployment in financial services. Specifically, this article reports on the deployment of Twitter in bank–customer communi- cations. Accordingly, a content analysis of 400 Tweets sent from a range of financial service providers to their customers was conducted. A literature-based model allowed for the clas- sification of these Tweets as either customer acquisition, engagement or retention-oriented. Findings indicate that Twitter is mainly used for customer engagement, but scope is identi- fied for their more meaningful deployment in relation to customer acquisition and retention.
Original languageEnglish
Pages (from-to)277-290
JournalJournal of Financial Services Marketing
Volume19
Issue number4
DOIs
Publication statusPublished - 1 May 2014

Keywords

  • banking
  • twitter
  • social media
  • relationships

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