The Effect of Social Media Marketing on Brand Awareness at the Bank of Abyssinia
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Date
2024-10
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Addis Ababa University
Abstract
This research aimed to examine the effect of social media marketing on brand awareness at theBank of Abyssinia. A total of 362 customers of the bank who were social media users were selectedusing a convenience sampling method from 10 branches in Addis Ababa. Structured questionnaireswere used to gather the data. The collected data were edited, and coded data cleaning wasconducted and the data were analyzed using descriptive and inferential statistics. Both theregression and correlation analysis indicated that the bank’s social media marketing have beencontributed to brand awareness. The study has found that most of the customers of the bank withan age range of 18-40 were users of social media regularly. The social media utilization habit ofthe adult working-age population can be an essential audience of the bank for its social mediamarketing. The adjusted R2 model indicated that the independent variables determine 47.3% of thevariations in the brand awareness by customers in the bank was attributed by the combined effectof the predictor variables (Entertainment, Interaction, Trendiness, Customization, and Word ofMouth) and the model was significant at a p-value of 0.000. All the independent variablespositively contributed for brand awareness: where customization being the largest predictor(β=0.308) followed by entertainment (β=0.226), trendiness (β=0.182), and word of mouth(β=0.155) and all were significant at 0.05 except interaction. The social media marketing that hadthe highest effect were customization, entertainment, trendiness, and word of mouth. The findingsof the thesis indicate that Social media marketing can be an effective promotional channel forcreating brand awareness for the Bank of Abyssinia.
Key Words: Social media, social media marketing and brand awareness