The case of Montepio

: reinventing the institution’s presence on social media for the millennial generation

Abstract

Research conducted by Kietzmann et al. (2011) exposed that the social media phenomenon has the power to influence people’s lives. In addition, since customers are becoming more and more demanding, business managers feel the necessity to understand how they can integrate social media to deliver customers remarkable experiences. Therefore, this dissertation intends to give recommendations that Montepio can use so as to better raise and retain its customer portfolio, specially the millennial segment. Consequently, a self-administered online questionnaire was created in order to assess the hypotheses and answer the research questions. The findings determine that the main banking factors that drive users of the millennial generation to open an account in a specific bank are reputation/stability, transparency and security/privacy. Regarding the factors that better help to explain the variable bank longevity, only the factor service customization presented as significant but displayed a negative influence on the variable in question. With concern to transforming a bank into a social media banking channel, results clarify that Facebook and LinkedIn are the preferred social networking sites for this social media integration and that the audience would like to see available the banking features social community, account information, products' information and transactions. Finally, recommendations related to social selling and social media strategies were provided to Montepio as well as limitations and guidance for future research.

Date of Award	18 Jul 2017
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Rute Xavier (Supervisor)