Theoretical and Applied Economics
No. 4 / 2015 (605), Winter
Banking Business and Social Media – A Strategic Partnership
Bucharest University of Economic Studies, Romania
Abstract. This paper briefly presents some aspects related to the way banks may use digital and social technologies to enhance their customer engagement and loyalty. In the first part of the paper we realized a brief introduction related the current developments of the banking sector related to adoption of mobile technologies and social media, the evolution from transactional banking to relationship banking. In the second part of the paper we emphasize the role of social analytics capabilities (social Customer Relationship Management systems), alternative distributions channels and other dedicated marketing activities over an efficient growth of the banking sector. The third part of the paper presents what social media represents for banks, its main advantages and challenges, providing solutions for managing weaknesses and building on strengths. The paper ends with conclusions related to the challenges existing in the banking sector and to the manner in which digital and social realm shape current banking practices and future opportunities for the banking sector, preventing banking business models become obsolete.
Contents
Social Innovation in the Local Public Sector: A Cross-Regional Approach for Romania
Testing the Validity of Political Business Cycle for the Fragile Five Countries
Fuel Price Volatility and Asymmetric Transmission of Crude Oil Price Changes to Fuel Prices
Analysis of Gross Domestic Product Evolution under the Influence of the Final Consumption
Gender-based Segregation before and after the Great Recession
Does Expenditure on Education Affect Economic Growth in India? Evidence from Cointegration and Granger Causality Analysis
Measuring the Influence of the J-Curve Effect on Trade in Romanian Forest Products
An Assessment of Customer Shared Value in the Restaurant Industry – a Survey from Sweden
Modelling optimal execution strategies for Algorithmic trading
Macroeconomic Effects of Inflation Targeting: Evidence from the Middle and High-Income Countries
Model of Analysis of Electronical Instruments Services in Romania
Banking Business and Social Media – A Strategic Partnership
The Interest Rate Corridor as a Macroprudential Tool to Mitigate Rapid Growth in Credits: Evidence from Turkey
Structural Breaks and Unit Roots in Indian Macroeconomic Variables
Analysis Model of GDP Dependence on the Structural Variables
Does Financial Development Influence Economic Growth in India?
Multidimensional Analysis of Performances in a Credit Brokerage Entity
Analysis of National Health Strategy 2014-2020
Threshold Effect of Public Debt on Domestic Investment: Evidence from Selected African Countries
Service Sector, Human Capital Accumulation and Endogenous Growth
The Communication Paradigms in Education
The Influence of Lending Activity on Economic Growth in Romania
Blended Learning – A Path towards Modernizing Higher Economic Education?
The Role of Epistemological Paradigms in Research in Social Sciences and Humanities
New Challenges for Agriculture within the Context of Climate Change
The Insertion of Young Economists in the Labor Market through the Specialty Practice. The Bucharest-Ilfov Region
Testing for Multiple Bubbles in the 35 Large and Medium Cities of Real Estate Price in China
Equilibriums and Economic Rationality in “the House of Life”
The Correlation between Employment and Productivity of Older Workers
Current Demographic Trends – A New Challenge for the Labour Market
The Great Transformation. The Formulation of New Models