ASSESSING THE LEVERAGE EFFECT OF E-MARKETING ON PERFORMANCE OF COMMERCIAL BANKS

ABSTRACT
This study examines the leverage effect of E-marketing on performance of commercial banks in Nigeria. The main objective is to investigate how the adoption of internet marketing enhances banking services in Nigeria. The study is a survey approach with sample of 180 respondents (employees & customers) drawn from four generation banks in the country, representing 65 percent of the total population (280). The data was analyzed using Descriptive Statistics and Chi-square to test the formulated hypotheses which revealed that the adoption of internet marketing has significantly enhanced customers’ banking services in Nigeria, particularly in the areas of improved patronage, on-time (effective) service delivery and reduced marketing costs. The study also found that internet marketing has created exciting new and cheaper ways to learn about and track customers, create products and services tailored to meet customer needs, distribute products more efficiently and communicate with potential customers effectively. Some recommendations were made; among the major recommendations is the need for all the barriers to effective internet marketing adoption such as poor connectivity, inadequate computers and ICT infrastructure, as well as cyber-crimes which constituted serious bottleneck to the overall success of banking operations in Nigeria should be addressed by managers and all stakeholders in the banking sector.