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The Adoption of Social Media by Australian Banks to Communicate with the Public

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The Adoption of Social Media by Australian Banks to Communicate with the Public The Adoption of Social Media by Australian Banks to Communicate with the Public by Vindaya Asanga Senadheera MISM, M.Sc. in Computer Engineering Submitted in fulfilment of the requirements for the degree of Doctor of Philosophy Department of Information Systems and Business Analytics Faculty of Business & Law Deakin University May, 2015 Dedication This dissertation is dedicated to my father and late mother who have been a pillar of support for me during my academic development, and to my loving wife and children for giving inspiration and purpose to my life. Acknowledgements This thesis represents the work and contributions of many remarkable people who I must acknowledge individually and as a group. First and foremost, I would like to extend my sincere thanks to my supervisory group that enabled successful completion of my research study: x Professor Matthew Warren for his dedication throughout this research study as the principal supervisor and as the primary source of knowledge that yielded substantial contribution to the research. x Associate Professor Shona Leitch for her flexible approach to work that made me feel that my research was her priority and enabled me to maintain sustained interest in the study. x Dr Graeme Pye for his ability as an experienced academic to generate continued enthusiasm that enabled me to overcome challenging situations. I would also like to acknowledge the contributions of the following people and organisations that provided indirect support and assistance: x Dr Scott Salzman for his expert advice on matters relating to quantitative research. x Professor Roger Horn for his academic insights delivered through seminars, workshops and chapter retreats. x Associate Professor Sharman Lichtenstein as a former departmental colleague for her support and general advice relating to academic research and writing. x Academic Staff of the Department of Information and Business Analytics for providing encouragement and enthusiasm individually and during meet-ups. x Administrative Staff of the Department of Information and Business Analytics and the Faculty of Business & Law, especially Julie Asquith and Bronwyn Kelly, for all the back-office support in regard to HDR working space, administrative information sharing, grant disbursement and conference attendance. x Deakin University, for organising all support activities relating to skills enhancement, financial assistance for a research scholarship, and workspace. Finally, I would like to acknowledge Patricia Hewson for her editorial advice as well as my supervisory team for their contribution that made the publication of this thesis possible. Table of Contents Table of Contents ………………………………………………………………………………………………...i Table of Figures ………………………………………………………………………………………………...vii Table of Tables ………………………………………………………………………………………………...viii List of Publications ……………………………………………………………………………………………...ix Abstract ……………………………………………………………………………………………………….….x 1. INTRODUCTION...................................................................................................................................... 1 1.1. Introduction ............................................................................................................................................. 1 1.2. Key Definitions ....................................................................................................................................... 3 1.3. Outlining the Research Context .............................................................................................................. 3 1.3.1. Research Rationale ............................................................................................................................. 4 1.3.2. Research Overview ............................................................................................................................. 4 1.4. Research Question ................................................................................................................................... 5 1.5. Research Contributions ........................................................................................................................... 6 1.5.1. Contribution to Theory ....................................................................................................................... 6 1.5.2. Contribution to Practice ...................................................................................................................... 6 1.5.2.1. Formulate Social Media Strategy through Social Adoption .......................................................... 7 1.5.2.2. Maintain the Flexibility of the Social Media Strategy ................................................................... 7 1.5.2.3. Identify Gaps in the Existing Social Media Strategy ..................................................................... 8 1.6. Research Structure .................................................................................................................................. 8 1.6.1. Evaluating Existing Research ............................................................................................................. 8 1.6.2. Conceptual Representation of the Topic ............................................................................................ 9 1.6.3. Analysis of Body of Research Methods and Techniques ................................................................... 9 1.6.4. Moving from Concept to Theory & Practice ...................................................................................... 9 1.6.5. Discussion of Research Outcomes and Conclusion .......................................................................... 10 1.7. Conclusion ............................................................................................................................................ 10 2. LITERATURE REVIEW........................................................................................................................ 11 2.1. Introduction ........................................................................................................................................... 11 2.2. Evolution of the Web ............................................................................................................................ 12 2.2.1. The Internet and Web ....................................................................................................................... 13 2.2.2. Web 2.0 and Social Networking ....................................................................................................... 13 2.3. Social Media ......................................................................................................................................... 15 2.3.1. Contemporary Social Media Technologies ...................................................................................... 16 2.3.1.1. Facebook ...................................................................................................................................... 18 2.3.1.2. Twitter ......................................................................................................................................... 19 2.3.1.3. YouTube ...................................................................................................................................... 20 2.4. Existing Research on Online Communities ........................................................................................... 21 2.5. Existing Research on Communities Formed on Social Media .............................................................. 26 2.6. Existing Research on Technology Adoption ......................................................................................... 29 2.6.1. Technology Adoption Model ........................................................................................................... 29 2.6.2. Technology-Organisation-Environment ........................................................................................... 30 2.6.3. Social Influence Model of Technology Adoption ............................................................................ 31 2.6.4. Integrated Communication Technology Adoption Model ................................................................ 31 2.7. ICTA Model Components ..................................................................................................................... 33 2.7.1. Use Factors ....................................................................................................................................... 34 2.7.1.1. Communication Flow .................................................................................................................. 34 2.7.1.2. Expectancy Value Theory ............................................................................................................ 34 2.7.1.3. Uses and Gratifications ................................................................................................................ 35 2.7.2. Audience Factors .............................................................................................................................. 35 2.7.2.1. Innovative Attributes ................................................................................................................... 36 2.7.2.2. Need for Innovativeness .............................................................................................................. 36 2.7.2.3. Self-Efficacy Theory
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