Assessing the significance of digital marketing and financial technologies on business performance

Abstract

With the increasing pace of changes in today's business world, firms are also confronted with real challenges, especially in times of economic uncertainty. The usage of the digital marketing and financial technologies (FinTech) has been perceived as a future solution in enhancing business performance. Though, much research has yet to investigate how these technologies will affect not just Financial Performance (FP) but also long-run business sustainability, particularly among local businesses. This study seeks to investigate how Financial Technologies (FTs) and Digital Marketing (DigitMart) affect the financial performance and long-term sustainability of businesses. The quantitative explanatory design was utilized. The 200 participants in this study were all the local inhabitants. Random selection was the sampling strategy employed, and Google Surveys was employed for data collection. Structural Equation Modeling-Partial Least Squares (SEM-PLS) was utilized for the process of data analysis. It is found that both financial technologies and digital marketing have a positive impact on improving the financial performance of businesses and contributing to their long-term sustainability. Financial success is significantly affected by digital marketing, whereas financial technologies have an important and positive influence on financial success. Combined, digital marketing and financial technologies are very critical in guaranteeing business sustainability, especially in risky economic times.