The Impact of Social Media on Customer Satisfaction in the Indian Banking Industry.
Kumari, S., & Jindal, P.
Social media with its virtual society has become an important part of our daily lives which made it compulsory for businesses to use this platform to interact with their customers. It has become the most convenient mode of connecting with customers because of certain benefits like time and cost-saving platforms. The present study is focused on customer satisfaction in the Indian banking sector by using various dimensions of social networking sites, i.e., Facebook, Twitter, and YouTube. The present study used 45 items questionnaire to collect data from 438 bank customers having social media accounts to establish the relationship between customer satisfaction and use of social media. The study resulted in a strong relationship between social networking sites and customer satisfaction in terms of information reliability, customer connectivity, benefits, and responsiveness in the Indian banking sector. However, the relationship varies from very strong to moderate with the selected three social media sites i.e., Facebook, Twitter, and YouTube. The security/privacy concern of customers should be addressed by banks while using these platforms. The use of various social networking sites more effectively to enhance customer satisfaction is recommended based on the findings of the study.