Impact of E-Marketing on the Performance of Money Deposit Institutions

This study examined the impact of e-marketing on the performance of money deposit institutions in Nigeria, using First Bank PLC as a case study. The specific objectives were to: (i) examine the relationship between email marketing campaigns and customer acquisition rate; (ii) identify the effect of social media advertisement on customer retention rate; (iii) investigate the impact of search engine optimization on the number of online transactions; and (iv) examine the influence of mobile app promotion on revenue generated from online services. The Technology Acceptance Model (TAM) served as the theoretical foundation for the study. A descriptive survey research design was employed, and data were gathered using structured questionnaires administered to 200 customers of First Bank PLC in Ilorin Metropolis. The data collected were analyzed using descriptive statistics, Pearson correlation, regression, and ANOVA. The findings revealed a strong positive and significant relationship between email marketing and customer acquisition (r = 0.870, p < 0.05); social media advertisement and customer retention (r = 0.867, p < 0.05); search engine optimization and the number of online transactions (β = 0.703, p < 0.05); and mobile app promotion and revenue generated from online services (β = 0.867, p < 0.05). The study concluded that e-marketing strategies significantly enhance customer acquisition, retention, digital transaction volume, and revenue generation in the banking sector. It is recommended that First Bank PLC and other money deposit institutions should continue investing in comprehensive e-marketing strategies to improve operational performance and remain competitive in the digital economy.