Customer pre-participatory social media drivers and their influence on attitudinal loyalty within the retail banking industry: A multi-group analysis utilizing social exchange theory
Article
Article Title | Customer pre-participatory social media drivers and their influence on attitudinal loyalty within the retail banking industry: A multi-group analysis utilizing social exchange theory |
---|---|
ERA Journal ID | 19837 |
Article Category | Article |
Authors | Ferm, Lars-Erik Casper and Thaichon, Park |
Journal Title | Journal of Retailing and Consumer Services |
Journal Citation | 61 |
Article Number | 102584 |
Number of Pages | 11 |
Year | Jul 2021 |
Publisher | Elsevier |
Place of Publication | United Kingdom |
ISSN | 0969-6989 |
1873-1384 | |
Digital Object Identifier (DOI) | https://doi.org/10.1016/j.jretconser.2021.102584 |
Web Address (URL) | https://www.sciencedirect.com/science/article/pii/S0969698921001508 |
Abstract | Social media pervades everyday life and firms need to understand what consumer traits antedate participation over these channels. Utilizing social exchange theory (SET), this study seeks to determine what factors precede SET's cost-benefit analysis of social media participation along with these factors' influence on attitudinal loyalty. Important antecedents to this cost-benefit analysis for social media participation are online interaction propensity (OIP), participation attitude and trust. Further, demographic (age, gender, income) and social media page factors (perceived page size and page visit frequency) are identified as potential precursors to customers' cost-benefit analysis towards social media participation. A sample of 482 U.S. banking customers was collected via an online survey. The results found that OIP and trust had direct statistically significant effects on attitudinal loyalty and participation attitude's effect was fully mediated by trust. Age, gender and page visit frequency facets exhibited no differences between groups whilst income (with higher income groups displaying higher levels of loyalty) and page size groups (smaller page sizes demonstrated greater loyalty) demonstrated differing effects on attitudinal loyalty. The study contributes to knowledge and practice by extending particular pre-SET traits in social media to a U.S. retail banking context. The study also furthers academic and managerial capabilities for segmentation analysis' and explicating connections between pre-participatory influences and attitudinal loyalty. |
Keywords | Online interaction propensity (OIP); Participation attitude; Attitudinal loyalty; Retail banking; Trust; Social media |
ANZSRC Field of Research 2020 | 350605. Marketing management (incl. strategy and customer relations) |
Public Notes | Files associated with this item cannot be displayed due to copyright restrictions. |
Byline Affiliations | Griffith University |
https://research.usq.edu.au/item/xx0yv/customer-pre-participatory-social-media-drivers-and-their-influence-on-attitudinal-loyalty-within-the-retail-banking-industry-a-multi-group-analysis-utilizing-social-exchange-theory
38
total views0
total downloads2
views this month0
downloads this month