How Banks in Bosnia and Herzegovina Use Social Networks?

6 Pages Posted: 20 Nov 2018

See all articles by Dražena Gašpar

Dražena Gašpar

University of Mostar - Faculty of Economics

Mirela Mabić

University of Mostar - Faculty of Economics

Damir Lucović

University of Mostar - Faculty of Economics

Date Written: September 8, 2016

Abstract

The paper presents results of research related to the presence and activities of banks in Bosnia and Herzegovina on social networks. The results of research show that banks in Bosnia and Herzegovina mostly use Facebook, mainly as a marketing tool. Although customer engagement is essential in the banking industry, banks in Bosnia and Herzegovina are still not very successful in using social networks as a real communication tool. Namely, social networks are a very powerful channel through which banks could reach out to their customers in order to find what products their customers want, what decisions they can make to improve relations with customers and what they may be doing that annoys their customers. But, it seems that banks do not understand that they need to be willing to implement some of customers suggestions posted on social networks, otherwise customers will not come back, will not become fans or loyal friends of the tribe. The paper shows that there is a lot of room for improvement in the use of social networks in banks in Bosnia and Herzegovina and provides some important guidelines and suggestions on how banks could use social networks to enhance relationships with customers and develop mutual trust.

Keywords: Social Network, Banks, Social Networks Research, Facebook, Twitter

JEL Classification: O39

Suggested Citation

Gašpar, Dražena and Mabić, Mirela and Lucović, Damir, How Banks in Bosnia and Herzegovina Use Social Networks? (September 8, 2016). 2016 ENTRENOVA Conference Proceedings, Available at SSRN: https://ssrn.com/abstract=3282308

Dražena Gašpar (Contact Author)

University of Mostar - Faculty of Economics ( email )

Bosnia and Herzegovina

Mirela Mabić

University of Mostar - Faculty of Economics ( email )

Bosnia and Herzegovina

Damir Lucović

University of Mostar - Faculty of Economics ( email )

Bosnia and Herzegovina

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