Moderation of Social Media between Customer Satisfaction and Brand Building in Private Sector Banks

Abstract

Nowadays social media is a popularly used tool, to communicate with each other and also to concentrate on a certain person/group. Social media are a part of the top IT trends of the technology world together with mobility, big data, cloud, and others. In recent years the social networks are increasingly replacing traditional media and are becoming increasingly popular among customers as a tool for businesses. Banking institutions are aware of the usefulness and importance of Social Media and also these days they also utilize this platform increasingly. However the institutions have to fulfill the requirements and needs of its customers by personalizing and displaying the specific requirements of the customers through value added offering provided by individualized care.   Now social media is more of a marketing tool which enables in what is to be communicated. It helps in providing a media for exchange of views and opinions provides a channel for feedback and also help in the completion of needed banking operation transactions. Social media is very much a part of those businesses which relate to customers where the new age digital guides are used and where various models of social banking are getting used including banking using social media. The prime aim of the survey is to check whether Social media acts as a moderator in the relationship between customer satisfaction and Brand building. A sample of 136 respondents from Private sector Banks is included in the study. Questionnaire is used as study instrument.  IBM SPSS v23.is used for analysis of the data. Bi-variate correlation and Moderated Multiple Regression analysis are the tools applied to achieve the objectives. Perceived quality followed by Brand awareness has got better relationship and Brand Assets has got moderate relationship with the Brand building dimensions. Further Social media serve as moderator and enhance the relationship between Customer satisfaction and Brand building in Private Sector Banks.