An evaluation of digital marketing effectiveness on customer acquisition in banking: a case study of Access Bank Nigeria
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Background of the Study:
Digital marketing has transformed customer acquisition strategies in the banking sector by enabling targeted, data-driven campaigns. Access Bank Nigeria has embraced digital marketing to expand its customer base, employing social media, search engine optimization, email marketing, and content marketing to reach prospective clients. Between 2023 and 2025, the bank has invested in advanced analytics to track campaign performance, measure conversion rates, and refine marketing strategies based on customer behavior insights (Adeniyi, 2023; Okeke, 2024).
These digital marketing efforts aim to improve customer acquisition by delivering personalized messages and offers that resonate with different segments of the market. The bank’s digital campaigns are designed to create brand awareness, generate leads, and ultimately convert prospects into loyal customers. However, the effectiveness of these strategies depends on the integration of technology, data quality, and the ability to quickly adapt to market trends. Challenges such as high competition, evolving digital consumer behavior, and difficulties in measuring return on investment (ROI) can impact the overall success of digital marketing initiatives.
This study will evaluate the effectiveness of digital marketing in customer acquisition by analyzing quantitative data from campaign metrics and qualitative feedback from marketing professionals and customers. The objective is to determine how digital marketing efforts influence customer acquisition and to identify best practices that can be adopted to optimize digital campaigns (Ibrahim, 2025).
Statement of the Problem:
Access Bank Nigeria’s digital marketing initiatives have led to increased brand visibility and customer engagement; however, converting these engagements into actual customer acquisitions remains challenging. Inconsistent measurement of campaign ROI and difficulties in tracking customer journeys have resulted in an unclear picture of the true impact of digital marketing on acquisition rates (Okeke, 2024). Additionally, the rapidly changing digital landscape, with emerging technologies and evolving consumer preferences, complicates the bank’s ability to maintain effective and sustained marketing campaigns. These issues, coupled with intense competition from fintech firms and other banks, create an environment where digital marketing efforts may not fully translate into increased customer acquisition. The bank faces the dual challenge of continuously innovating its digital strategies while ensuring that these initiatives yield measurable and sustainable results. This study seeks to investigate these challenges and assess the overall effectiveness of digital marketing on customer acquisition at Access Bank Nigeria, providing actionable insights for strategy refinement.
Objectives of the Study:
To evaluate the impact of digital marketing on customer acquisition at Access Bank Nigeria.
To identify challenges in measuring and optimizing digital marketing ROI.
To recommend strategies for enhancing digital marketing effectiveness.
Research Questions:
How effective is digital marketing in acquiring new customers?
What are the main challenges in tracking digital marketing performance?
What strategies can improve the ROI of digital marketing initiatives?
Research Hypotheses:
H1: Digital marketing significantly increases customer acquisition rates.
H2: Inadequate performance tracking negatively impacts digital marketing effectiveness.
H3: Enhanced data analytics and targeted campaigns improve customer acquisition.
Scope and Limitations of the Study:
The study focuses on digital marketing campaigns at Access Bank Nigeria from 2023 to 2025. Limitations include rapidly evolving digital trends and challenges in isolating digital marketing effects from other acquisition channels.
Definitions of Terms:
Digital Marketing: The use of online platforms and technologies to promote products and services.
Customer Acquisition: The process of attracting new customers.
ROI: Return on Investment, a measure of marketing effectiveness.
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