Importance of Social Media as Communication Channel in Bank Marketing

Abstract

Simplex transmission means such as advertisement and other promotion activities are no longer efficient for the banks. To increase the efficiency in promoting and communicating, simplex transmission activity should be converted to a communication activity. Target is not the “mass” but the “individual’s in today’s banking business. Because of these reasons it is a necessity to reach individuals, determine their expectations via specialized tools, and build up strategies for these expectations. Social media helps banks to produce concurrent, effective and fast solutions with its opportunities for practicing the aimed communication at this level. In addition, it became a solution partner as a flexible and low-budget communication channel. Wide properties of social media tools are going to surpass present media tools as “classical media” and be a pioneer in developing these kinds of new generation tools as “neo-media”.

DOI: 10.5901/ajis.2014.v3n3p76