DIGITAL MARKETING AND CUSTOMER ADOPTION OF FINANCIAL TECHNOLOGY SERVICES IN NIGERIAN BANKS

ABSTRACT

Research Objective: This study investigated the impact of digital marketing strategies on
customer engagement with fintech services in Nigerian banks, emphasising how social media
Marketing, email marketing, mobile app promotions, and influencer marketing contribute to user
adoption and sustained interaction with fintech platforms.
Methodology: A quantitative survey design was employed using a structured questionnaire.
administered to 385 respondents from a target population of 420. Responses were captured on a
five-point Likert scale, and reliability was confirmed with a Cronbach’s alpha of 0.797. Data
were analysed using descriptive statistics and regression techniques to determine the effect of
each digital marketing channel on customer engagement.
Findings: Descriptive results indicated that influencer marketing and social media marketing
were rated most favourably. Regression analysis showed that influencer marketing (β = 0.687,
p < .001) and mobile app promotions (β = 0.149, p = .005) significantly increased customer
engagement. Social media marketing exhibited a significant but negative effect (β = -0.129, p =
.009), while email marketing had no significant impact (p = .421). The model explained 47.7% of
engagement variance (R² = 0.477) and was statistically significant (F = 86.675, p < .001).
Conclusion: Influencer marketing and mobile app promotions strongly enhance customer
engagement, whereas social media and email marketing require strategic improvement.

Recommendations: Fintech firms should invest in personalised influencer content, strengthen
app-based incentives, and redesign social media and email strategies to improve engagement.

Keywords: Digital Marketing, FinTech, Customer Engagement, Influencer Marketing, Mobile
App Promotion