Presence of banks on social networks in Bosnia and Herzegovina

Abstract

Background: Social networks allow real-time interaction that enhances a bank's ability to respond to customers in a timely, intuitive and personalized manner. By using social networks, banks can improve the understanding of their clients and bank's products they need. Also, banks can enhance relations with clients and strengthen their brand through raising client loyalty. Objectives: The paper explores and analyses the current presence of banks in Bosnia and Herzegovina on social networks. Methods/Approach: The paper studies the presence of 24 banks in Bosnia and Herzegovina on social networks and analyses the basic characteristics of profiles/pages of the banks on the most popular social networks. Results: A half of the banks have their profiles/pages on different social networks (mostly on Facebook and YouTube). They use the profiles/pages mainly for content marketing, i.e. for presenting their business operations. Unfortunately, banks do not encourage interaction with clients, except through likes. Conclusions: The analysis does not show that banks have a systematized and planned appearance on social networks. There is a plenty of room for improvement, and it is necessary primarily to address the interaction between clients and banks through social networks.