Abstract

Purpose:

The purpose of this study is to identify the Social Media Platforms influence on consumer buying behavior in which Islamic banks can successfully compete with conventional banks.

Methodology:

Data is collected from the consumers of three conventional banks having Islamic banking divisions and three full-fledged Islamic Banks. These banks include “MIB, Askari Bank and Faysal Bank”, while the Islamic banks are “Dubai Islamic Bank, Meezan Bank and Al-Baraka Bank”. Out of the total social media users in Pakistan, about 400 different users were approached by us. Convenience sampling was used because during the pandemic situation it was the easiest option to collect the samples. The questionnaire used for the research was composed of a 5-point Likert scale.

Findings:

The research concludes that effective social media platforms play a very important role in influencing Islamic banking consumer buying behavior. It finds that effective social media advertising keeps updating consumers about the latest trends, news, and e-services, attracting banking consumers.

Practical Implications:

This study will support the Islamic banking Industry in understanding their consumers’ buying behavior, different expectations, requirements, and interests while using different Social Media sites for purchasing or buying purposes. It will help to understand marketers using social media advertisements for Islamic banking consumers and what type and kind of information should be the input to attract the consumers. The results also help the Islamic banking sector marketers to recognize that consumers are using which social media sites most often; hence they can increase their platform activities on these sites.

Keywords

Consumer Buying Behavior, Social Media Advertisement, Brand Image, Perceived Value, Subjective Norms, Islamic Banking.