Factors shaping attitudes towards UK bank brands: an exploratory analysis of social media data

Abstract

Social media provides a huge amount of data and rich market insight, and has changed the way customers interact with brands. This interaction is of great concern for any organisation as it transfers the power to shape brand image from advertisers to consumers. In light of the global financial crisis and the ensuing negative attitudes towards bank brands, this study has extracted 1176 comments on bank advertisements from the verified Facebook pages of 10 UK banks. These comments have been thematically analysed to identify seven key factors that shape customer attitudes to bank brands. The study presents the power of social media as a platform for brands and customers to engage and build relationships, especially bank–customer relationships in the UK, providing managers with important insights that can guide the development and execution of their brand-relationship campaigns. The fact that this study is based on real-life advertisements and real-life responses from social media network users can be considered as one of its strengths, as it does not suffer from various issues relating to experimental studies. Nonetheless, the study’s limitations and suggestions for future research directions are provided.