Impact of Viral Marketing Tools on Dealing with Commercial Bank Services - Empirical Study on Commercial Bank Customers in Jordan

Abstract

This study aims at identifying the impact of viral marketing on stimulating customers to buy the services of commercial banks through the four themes of the study (i.e., electronic advertising messages, word of mouth, material and moral motivation, and electronic social media). To achieve this objective of the study, the researcher conducted descriptive and analytical method due to its relevance to the study, where a questionnaire was designed to collect primary data. Before distributing the questionnaire on the study sample, it was sent as a pilot study to many experts and referees to get their feedback. The questionnaire was adjusted according to the comments of referees and experts. The final form of the questionnaire was sent to a sample of 400 customers of commercial banks in Jordan. To avoid sampling bias, 290 questionnaires were valid for the analysis. The research employed the most proper statistical methods via the computer software of SPSS. The main finding of the study was that there is a statistically significant effect of viral marketing independent variables on stimulating customers to buy the services of commercial banks. This effect was clear and strong for all independent variables of the study. Based on the findings, the study recommends the following: First, banking institutions should continue using the advanced strategies of marketing and promoting their banking services through the viral marketing proved to be an effective and efficient method for promoting and stimulating customers to buy their services. Second, banking institutions should overcome the weakness points and enhance the strength points of viral marketing. Last but not least, banking institutions should follow up and catch up with any new idea in viral marketing considering technological openness.