Impact of Social Media Marketing on Customer Engagement in Indian Banks

Abstract

The Indian banking industry contributes significantly to the country's GDP. However, the sector is highly competitive and frequently faces challenges due to various changes, including technical advancements. Research on the impact of social media usage on banks' performance is still lacking. The primary objective of this research is to ascertain, through consumer feedback, how social media elements (emotional connection, visibility, security, and awareness) impact customer engagement, customer happiness, and customer retention in the banking industry.

A questionnaire was used in an empirical investigation to gather the opinions of 115 clients and Tests of statistical significance showed a high relationship between customer happiness and retention as well as between emotional connection, visibility, security, and awareness and customer involvement.