THE IMPACT OF DIGITAL BANK MARKETING ON CONSUMER SATISFACTION AND LOYALTY A CASE OF MACEDONIAN COMMERCIAL BANKS

World banking analysts predict that in the near future the number of traditional banks will be reduced by 50% worldwide, through a mix of closures, mergers, acquisitions and spinoffs. This is due to the evolution of banks, which have grown from physical infrastructure (brick and mortar business) that served customers into electronic banks. Nowadays, in order to meet the sophisticated needs and wants of customers, banks offer a wider range of digital services. Thus, while the traditional banking comprised of straightforward loans, deposits, treasury, and insurance products, new “universal” banks slowly added more offerings such as derivatives, asset-backed securities, digital wallets, wealth management, and private banking. The banking is facing digital banking innovations across the spectrum of payments, cash, lending, money transfer, investment management, and lending, among other areas. The main objective is to understand the customers, their lifestyle, preferences and then custom build the product to add value and enhance the customer experience. In order to come closer to the consumers, banks use modern integrated marketing communications. However, the question is whether and how satisfied consumers are with the new digital banking services i.e. with the one-stop-shop access for all services. This paper contains a survey to analyze customer satisfaction from Macedonian banks, their operations and way of marketing communications.

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