ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH --------------------- LÊ THÚY NGÂN IMPROVE THE ROLE OF SOCIAL MEDIA MARKETING IN BANKING SECTOR – THE CASE STUDY OF BIDV NÂNG CAO VAI TRÒ CỦA MARKETING MẠNG XÃ HỘI TRONG LĨNH VỰC NGÂN HÀNG. NGHIÊN CỨU CỤ THỂ TẠI BIDV LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH HÀ NỘI - 2020 TIEU LUAN MOI download : skknchat@gmail.com ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH --------------------- LÊ THÚY NGÂN IMPROVE THE ROLE OF SOCIAL MEDIA MARKETING IN BANKING SECTOR – THE CASE STUDY OF BIDV NÂNG CAO VAI TRÒ CỦA MARKETING MẠNG XÃ HỘI TRONG LĨNH VỰC NGÂN HÀNG. NGHIÊN CỨU CỤ THỂ TẠI BIDV Chuyên ngành: Quản trị kinh doanh Mã số: 60 34 01 02 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH NGƯỜI HƯỚNG DẪN KHOA HỌC: PGS. NGUYỄN VIỆT KHÔI HÀ NỘI - 2020 TIEU LUAN MOI download : skknchat@gmail.com DECLARATION The author confirms that the research outcome in the thesis is the result of author‟s independent work during study and research period and it is not yet published in other‟s research and article.
The other‟s research result and documentation (extraction, table, figure, formula, and other document) used in the thesis are cited properly and the permission (if required) is given. The author is responsible in front of the Thesis Assessment Committee, Hanoi School of Business, and the laws for above-mentioned declaration. Hanoi, date of …… / …… /……. Le Thuy Ngan i TIEU LUAN MOI download : skknchat@gmail.com ACKNOWLEDGEMENT I have gained huge knowledge, skill and insights from my MBA course.
The course raises my capacity of administration and management up to the next level. I declare that this is a true copy of my thesis. The content of this thesis has been approved by the committee of Vietnam National University, Hanoi – Hanoi School of Business and Management (HSB). This thesis has not been submitted for a higher degree to any other University or Institution.
In order to finish this project successfully, I have received many helps, supports and guidance from many people who I would like to thank sincerely. First of all, I would like to thank all the professors of MBA program, especially Assoc. Dr Nguyen Viet Khoi – my supervisor. Then I would like to thank deeply to respondents and interviewees who allowed me to gather enough data for this research.
Finally, I would like to express my thanks to my husband, my family, my colleagues and my fellow friends who always stand by me during the past two years and encourages me to keep moving from the beginning of my study. Hanoi, date of …… / …… /……. Le Thuy Ngan ii TIEU LUAN MOI download : skknchat@gmail.com TABEL OF CONTENTS DECLARATION. ii TABEL OF CONTENTS.
v LIST OF TABLE. vi LIST OF FIGURES. THE THEORETICAL FRAMEWORK OF SOCIAL MEDIA MARKETING - THE UPDATED TREND AND APPLICATIONS IN BANKING INDUSTRY .Overview of social media marketing .Social media marketing channels: .Social media marketing channels in banking sector:. The social media channel used popularly in banks:.
The social media channels in Vietnamese Banking Industry:. RESEARCH METHODOLOGY AND DATA ANALYSIS. Methodology and research methods. Methodology and research methods .Users of Social Media: .Purpose of using Social Media .The popular Social Media Sites .Time used for Social Media .Banks should use Social Media Sites or not .Which activities Bank use Social Media for .Which of the following social media platforms does your bank use for marketing purpose: .Social Media Marketing in Sale .Social Media Marketing in Customer Service .Social Media Marketing in Customer Relation.
Social Media Marketing in Recruitment .Social Media Marketing in Branding. 42 iii TIEU LUAN MOI download : skknchat@gmail. VALUATING THE EFFICIENCY OF USING SOCIAL MEDIA MARKETING CHANNELS IN BIDV .Introduction about BIDV .Summary about BIDV foundation and development: .Organiz ational and Governance Structure .BIDV Main Products and Services: .Key financial indicators .Analyze the current application of social media marketing channels in BIDV .Analyze factors affecting to BIDV and BIDV‟s social media marketing .BIDV‟s social media marketing .BIDV Social Media Marketing in Sales .BIDV Social Media Marketing in Branding.BIDV Social Media Marketing in Customer Service .BIDV Social Media Marketing in Competitor Analysis .BIDV Social Media Marketing in Recruitment .The advantages and disadvantages of using social media marketing tools in BIDV. FINDINGS AND RECOMMENDATIONS FOR IMPROVING THE ROLE OF SOCIAL MEDIA MARKETING IN BIDV.Development orientation of BIDV.Solutions to enhance the importance of social media marketing in BIDV.
77 APPENDIX 1 QUESTIONNAIRE IN ONLINE SURVEY. 83 iv TIEU LUAN MOI download : skknchat@gmail.BIDV ABBREVIATION BIDV Bank for Investment and Development of Vietnam SMCC Social Media Contacting Center AMA American Marketing Association IVR Interactive Voice Response CRM Customer Relationship Management (LUAN.BIDV v TIEU LUAN MOI download : skknchat@gmail.BIDV LIST OF TABLE Table 1: The Social Media channels and their business characteristics:. 11 Table 2: The participants of the discussion. 21 Table 3: Summary of the benefits of Social Media Marketing for banking businesses.
27 Table 4: Time used for social media. 33 Table 5: Should banks have their own social network. 35 Table 6: BIDV fund mobilization 2013-2017. 51 Table 8: Financial performance 2015-2017.
54 Table 9: Business result 2014-2017.BIDV vi TIEU LUAN MOI download : skknchat@gmail.BIDV LIST OF FIGURES Figure 1: Average hours/week spent on online activities worldwide. 2 Figure 2: Benefits of Social Media Marketing:. 5 Figure 3: The Social Media Landscape 2008, by Fred Cavazza. 6 Figure 4: The Social Media Landscape 2009, by Fred Cavazza.
7 Figure 5: The Social Media Landscape 2011, by Fred Cavazza. 7 Figure 6: The Social Media Landscape 2012, by Fred Cavazza. 9 Figure 7: Social Media Universe for businesses. 10 Figure 8: Banks‟ top preferred social media platforms in America.
14 Figure 9: Number of comments about bank on social media the first 4 months 2014. 17 Figure 10: Number of Internet/ social media users around the world 2018. 28 Figure 11: Most popular messaging app. 29 Figure 12: Social media service popularity.
29 Figure 13: Top 10 reasons for social media usage. 30 Figure 14: Social media users, classified by app. 32 Figure 15: Which activities American Bank use Social media for. 36 Figure 16 : Organizational Structure.
48 Figure 17: BIDV Governance Structure. 49 Figure 18: Net service income 2015-2017 .BIDV vii TIEU LUAN MOI download : skknchat@gmail. Rationale: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (Approved July 2013 by AMA1 ). Launched in the early 2000s in the form of innovative online applications that facilitate online content sharing, Web 2.0 rapidly evolved into a phenomenon elevating online communications to a new level (Constantinides and Fountain, 2008).
All actions of marketing from creating demand to take it in products and deliver, exchange value for customers are implemented on Internet. What began as an array of platforms for online interactions with focus on entertainment quickly escalated into a global phenomenon where connectedness to the online networks is everything and the aptitude to “follow,” “like” or “share” means power. The astonishing popularity and the fast rate of adoption of social media lead enthusiasts to speculate on the potential goldmine for marketing that lies within the complex web of user commentaries, testimonials and communities, linking consumers with products and brands (Beer, 2008; Eccleston and Griseri, 2008; Hardey, 2009). So that businesses are no longer dismissive the role of Digital Marketing in reaching the target customers as well as building brand for products and their own businesses.
According to a research statistic, Internet advertising gains 33% of the cost for advertising US companies in early 2012. That same year was the birth and development of the powerful Social networking sites like Facebook, MySpace, Pinterest. By the preeminent features, Social networking has attracted millions of people with various ages, geographic areas and different interests participating in. That makes up a plus the great pile.
Only a short time ago, many marketers said that social networking is not suitable for brands. However, the trend has changed. The result in recent survey indicates that many brands, including high-class brands, such as Mercedes, Burberry., also actively invest in Social Media Marketing like Facebook, Twitter, YouTube.to launch mass marketing and enhance interaction with users. According to a survey from Alterian2, many company is using social networking to attract new customers and raise awareness about brand.
This survey polls 400 senior marketing executives from the big brands and gets 1 American Marketing Association 2 (Big US company in collecting and analyzing datas) (LUAN.BIDV viii TIEU LUAN MOI download : skknchat@gmail.1% said that attracting customers is the most important goal in social media marketing; 26.5% to strengthen brand awareness. Up to 90% agree that should coordinate Social Media Marketing in overall marketing strategy of company at present period. A recent study by Exact Taget2 also showed that digital devices revolutionize the purchasing decision; More than 90% customers believe in online reviews of products, and 18% customers are at least affected by an online ad last 12 months. In Vietnam, the development of advertising through social networking is no longer new to businesses as well as individuals self-employed.
The benefits, interaction ability and high orientation help social media marketing beginning to be used like an extremely effective communication tool. The more and more people read, watch, search information, news or reports through internet than other tradition way. Figure 1: The increasing of internet users Figure 2: The increasing of users on digital platforms Follow Viet Nam Chamber of Commerce and Industry (VCCI) 09/04/2015 3. Digital Marketing Agency in Indianapolis USA (LUAN.BIDV ix TIEU LUAN MOI download : skknchat@gmail.BIDV If Twitter is the most popular social networking site in the US, Facebook is not only successful in the world but also the most powerful advertising method in Vietnam.
Currently, there‟re about 42 millions Facebook user in Vietnam (statistics in 2016) compared with Vietnamese population 93 millions (45%). That‟s an impressive figure. According to Nielsen Vietnam Cross-Platform Insights Report 2015, Vietnamese used average 24,7 hours per week to online, increasing 9 hours than 2014. Figure 3: The average online hours per week Understanding the importance and impact of social networking to business in general and finance/ banking in particular, on 08/04/2015 BIDV launched SMCC Social Media Command Center.
Although the activities of SMCC are quite basic and achieved some certain success but so far SMCC is still just stop in advertising to complement the main activities of the bank. That doesn‟t take full advantage of social networking brings. In addition to the role of marketing to customers preferential programs or attractive products/ services of bank, BIDV has not collected data to analyze and research the demand and behavior as well as capture the new trend of the bank‟s customers now. According to information from the leader of the BIDV SMCC, the center has not officially conducted a survey on the effectiveness of interaction, the extent of the brand spread through the social media marketing tool.
Therefore, by this research, we will evaluate the results of the social media tool at BIDV and then propose a solution to improve the strategy to promote the role of social media at BIDV. Literature review (LUAN.BIDV x TIEU LUAN MOI download : skknchat@gmail.BIDV After more than 10 years – developing in the international market, Digital Marketing has attracted the attention of many researchers. Kotler (2003) argues that digital marketing is part of internet marketing, which focuses on product planning, pricing policy and distribution in the marketplace through electronic tools. In this sense, the concept of digital marketing is ambiguous, and may coincide with internet marketing.