Comparative Analysis of Social Media Communication Strategies and Digital Engagement of Providus Bank and Jaiz Bank in Nigeria
TL;DR
The analysis of Providus Bank and Jaiz Bank's social media footprints shows that Providus Bank is better numerically present in terms of the number of followers, the frequency and engagement rate, and the communication is mostly focused on innovation, digital solutions, and corporate competitiveness.
Abstract
This study entails a comparative analysis of Providus Bank and Jaiz Bank's social media footprints. The study examines the institutional model as a factor that impacts communication strategy, thematic content orientation, and quantifiable digital engagement results. With the help of a qualitative content analysis method and quantitative descriptive indicators, the study was conducted using posts from selected social media during a period of time. The analysis shows that Providus Bank is better numerically present in terms of the number of followers, the frequency and engagement rate, and the communication is mostly focused on innovation, digital solutions, and corporate competitiveness. Conversely, Jaiz Bank has a more identity-based narrative based on the principles of non-interest banking, ethical finance, and community development. However, promotional messages still prevail in all their channels. Although the differences in concepts between conventional and Islamic banking models are evident at the institutional level, the analysis of the digital communication practices demonstrates that they tend to converge because of the competitive market, branding requirements, and expectations of the viewers. The study also notes that the themes of sustainability and corporate social responsibility are becoming more and more incorporated into the digital storytelling of both banks, albeit with different degrees of thoroughness and steadiness.