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

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Social Media Marketing and Organisational Efficiency of Deposit Money Banks in Nigeria International Journal of Scientific & Engineering Research Volume 11, Issue 3, March-2020 511 ISSN 2229-5518 Social Media Marketing and Organisational Efficiency of Deposit Money Banks in Nigeria ENYIOKO, Newman Chintuwa IJSER August, 2018 IJSER © 2020 http://www.ijser.org International Journal of Scientific & Engineering Research Volume 11, Issue 3, March-2020 512 ISSN 2229-5518 Social Media Marketing and Organisational Efficiency of Deposit Money Banks in Nigeria ENYIOKO, Newman Chintuwa B.Sc.(Management)UNICAL MBA(Marketing)RSU M.Sc. (International Economics & Finance) RSU PG.2015/02315 Thesis submitted to the Post Graduate School, Rivers State University, Nkpolu-Oroworukwo, Port Harcourt, in Partial Fulfilment of the Requirements for the Award of Doctor of Philosophy (PhD) Degree in Marketing, Department of Marketing, Faculty of Management Sciences. Supervisors: Prof. G. A. Okwandu Prof. B. C. Opara IJSERProf. N. G. Nwokah August, 2018 IJSER © 2020 http://www.ijser.org International Journal of Scientific & Engineering Research Volume 11, Issue 3, March-2020 513 ISSN 2229-5518 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 leadingIJSER to organisational efficiency of banks. IJSER © 2020 http://www.ijser.org International Journal of Scientific & Engineering Research Volume 11, Issue 3, March-2020 514 ISSN 2229-5518 DECLARATION I, ENYIOKO, Newman Chintuwa (PG.2015/02315) declare that the work in this thesis represents my original work and has not been previously submitted elsewhere or in this university for the award of a degree. Signature:……………………. Date:…………………………. IJSER IJSER © 2020 http://www.ijser.org International Journal of Scientific & Engineering Research Volume 11, Issue 3, March-2020 515 ISSN 2229-5518 CERTIFICATION We, the undersigned, certify that this work was carried out by ENYIOKO, Newman Chintuwa (PG.2015/02315) under the supervision of, Prof. G.A. Okwandu, Prof. B.C. Opara and Prof. N. G. Nwokah in the Department of Marketing, Faculty of Management Sciences, Rivers State University, Nkpolu-Oroworukwo, Port-Harcourt, has met the partial requirement for the award of Doctor of Philosophy in Marketing. Prof. G. A. Okwandu ---------------------------- -------------------------- Supervisor Signature Date Prof. B. C. Opara ---------------------------- -------------------------- Co-Supervisor Signature Date Prof. N. G. Nwokah ---------------------------- -------------------------- Co-Supervisor Signature Date Dr. J. U. D. Didia ---------------------------- -------------------------- Ag. HOD, Dept, of Marketing Signature Date Prof. Donald I. Hamilton ---------------------------- -------------------------- Dean, Faculty of FMS Signature Date IJSER IJSER © 2020 http://www.ijser.org International Journal of Scientific & Engineering Research Volume 11, Issue 3, March-2020 516 ISSN 2229-5518 ACKNOWLEDGEMENTS I sincerely express my profound and unquantifiable gratitude and praises to the Almighty God for His love, care and protection throughout these turbulent years I have lived to accomplish this arduous task with all the rigours involved. My deepest gratitude goes to my lead supervisor Prof. G.A. Okwandu for his patience//perseverance in guiding me through to see the completion of this work. I am also, indebted to my other co-supervisors, Prof. B.C. Opara and Prof. N.G. Nwokah for their meticulous observations, critical comments and academic encouragement / advice helped me greatly to the successful execution of this thesis. I appreciate also the Acting Head, Department of Marketing, Dr. J.U.D. Didia as well as Dr. P.M. Nadube for the useful advice and critical insights they have brought to bear in this work. I thank Prof. Donald I. Hamilton, the Dean Faculty of Management Sciences for his humane dispositions to students and others. I appreciate Dr. Harcourt Horsfall, Mrs. Edith-Onajite Lolia Hamilton- Ibama, Mr. Adiele Kenneth Chima, Mr. Ateke Brown Walter, Mr. Okechukwu Agburum, Mrs. Amadi for their encouragement. I am also grateful to my colleagues in the doctoral programme, Mrs. Chinyere Acee-Eke, Hon. Tonye, E. Isenah, Gibson Ogonu and Mrs Chinyere Stella Nwulu for their collaborative proclivities in the course of the programme. I thank Mr. Ikegwuru Mac-Kingsley, Barr. Matthew A. Onwukwe, Nwabueze Ukaegbu, Rev. C.A. Nwaogu, Pst. Ken Kanu, Onyebuchi Obiekwe. I thank my friend and supporter Dr. Chidi Julius Lloyd and his family for their encouragement. I am grateful to my beloved wife Mrs. Chioma Newman Enyioko and ChildrenIJSER – Esther and Elizabeth for their patience and understanding throughout the period of this study. I find it impossible to make a comprehensive list of all those I should like to thank as this embraces not only my peers; but almost all my members in ANCA especially Elder Steve Eguzo, Friday Onyeubani, Winners Chapel, WSF Total Village, Prayer Force and Gold- Anchor. I thank my friends Sir Uzondu Abraham, Pstr Ken Akobundu, Alozie Ufomba, Helen, Stella, Simeon Nwandu, John Ordah, Dr. C.A. Akujuru, Ibe Nnaukwu and Paul Ezekiel Somina. I acknowledge my mother Mrs Rodah Mgbeahuru Enyioko for her great inspiration and encouragement. I thank my brothers and sisters. All who in one way or the other contributed to the success of this research work, I want to say thank you; may the Almighty God reward you richly and abundantly. IJSER © 2020 http://www.ijser.org International Journal of Scientific & Engineering Research Volume 11, Issue 3, March-2020 517 ISSN 2229-5518 DEDICATION This work is dedicated to God Almighty, the greatest inspiration of all time and dear Lord and Father of all Mankind. IJSER Table of Contents Page Cover Page i IJSER © 2020 http://www.ijser.org International Journal of Scientific & Engineering Research Volume 11, Issue 3, March-2020 518 ISSN 2229-5518 Title Page ii Abstract iii Declaration iv Certification v Acknowledgements vi Dedication vii Table of Contents viii List of Tables ix List of Figures x CHAPTER 1: INTRODUCTION 1 1.1 Background of the Study 1 1.2 Statement of the Problem 5 1.3 Purpose of the Study 7 1.4 Research Questions 7 1.5 Conceptual Framework 8 1.6 Research Hypotheses 9 1.7 Significance of the Study 10 1.8 Scope of the Study 11 1.9 Limitations of the Study 11 1.10 Definition of Terms 12 CHAPTER 2: Review of Relevant Literature 14 2.1 Theoretical Foundation 14 2.1.1 Social Exchange Theory 14 2.1.2 Social Penetration Theory 16 2.1.3 Digital Marketing Application Theory 17 2.2 Concept of Social media marketing 21 2.2.1 ConceptIJSER of Marketing 28 2.2.2 Blog Marketing 32 2.3 Dimensions of Social Media Marketing 38 2.3.1 Concept of Blogging 41 2.3.2 Facebook 44 2.3.3 Twitter 45 2.3.4 LinkedIn 47 2.4 Concept of Banks’ Efficiency 50 2.5 Measures of Banks’ efficiency in Social Media Marketing 53 2.5.1 Conversion Rate 57 2.5.2 Web Traffic 60 2.5.3 Customer Engagement 62 2.6 Trust 66 2.7 Operational Framework and Variables 68 2.7.1 Blogging and Conversion Rate 69 2.7.2 Facebook and Conversion Rate 71 2.7.3 Twitter and Conversion Rate 72 2.7.4 LinkedIn and Conversion Rate 73 2.7.5 Blogging and Web Traffic 76 2.7.6 Facebook and Web Traffic 77 2.7.7 Twitter and Web Traffic 79 2.7.8 LinkedIn and Web Traffic 81 IJSER © 2020 http://www.ijser.org International
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