Journal of Marketing Management

Financial Institutions and Use of Social Media: An Analysis of the Largest Banks in the U.S. and Europe
Thaís Helen Sena, Cristiana F. De Muylder, Júlio Viana, Emílio M. Arruda Filho, Olaf Reinhold

Abstract
Main Goal: This article aims to analyze the largest banks in the United State and Europe in terms of acceptance, reach, commitment, and interaction with their clients on social media. Methodology/approach: The article uses a qualitative approach comparing some factors based on analyses of banks' social media consumer feedback. Conclusions: The banks studied present some flaws in relation to the strategy in social media. Attitudes such as lack of post, small number of followers, lack of responses to customer interactions, and pages blocking comments are some of the examples that could be better used. Limitations/implications of research: While only publicly disclosed data has been used, this article raises several questions about the use of social media by large banks in the United States and Europe. Future research may explore another culture as Asian market. Practical implications and originality: Despite the investment in technology by banks and the strong presence of social media in contemporary life, this research shows that new integration strategies between banks and their customers are possible. The originality was related to describe the seven largest banks in the United States of America and Europe and their social media interaction and to focus it to analyze the client feeling. Funding Statement: The study was supported by CAPES, FAPEMIG and CNPq 407907/2018-1. This article was the result of work carried out in the PhD course of the Business Graduate Program of Fumec University. Ethical Compliance: All procedures performed in studies involving human participants were in accordance with the ethical standards of the institutional and/or national research committee and with the 1964 Helsinki Declaration and its later amendments or comparable ethical standards.

Full Text: PDF     DOI: 10.15640/jmm.v11n1a2