Naslov
Using social media in building relationships with clients in retail banking

Autori
Razum, Andrea ; Tomašević Lišanin, Marija ; Srpak, Suzana

Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, sažetak, ostalo

Skup
10th EBES Conference

Mjesto i datum
Istanbul, Turska, 23.05.2013. - 25.05.2013

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Social media; Bank marketing; Relationship marketing; Retail banking; Croatia

Sažetak
The main objective of this paper is to explore the possibilities of using social media in the banking industry. This paper presents the views of banks on the possibilities of using social media in promotion of marketing activities and interaction with customers, as well as client expectations of such activities in order to better meet their needs. The paper starts with introduction to different social media types and the specificities of social media marketing. It continues with discussion about characteristics of marketing in the banking industry, and the analysis of opportunities and challenges of social media application in banking. To gain insight into the social media implementation in the banking sector in Croatia and its opportunities, two empirical studies were carried out. The first study was conducted using focus groups to obtain initial information about the behavior and needs of banking customers in the "virtual world". Second exploratory research was conducted using in-depth interviews with an adequate sample of deliberately chosen experts, to gain insight into the attitudes and opinions regarding the possibilities of implementation of social media in the local banking sector. Conducted studies and the analysis of best practice confirmed the fact that the decision about using social media in banking operation should be made based on detailed market analysis and further development of goals, plans and strategies. During the process of social media implementation and process of new media utilization, activities should be continuously monitored in order to make changes or conduct corrective actions when needed. social media can offer banks a rich menu of opportunities in all areas of marketing and sales, as well as risk management, and considering that consumers expect from the banks to interact with them through new media, banks that fulfill these expectations will achieve a significant advantage over those who won't be able to recognize its importance and growing influence in time.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA