The effect of real-time marketing strategies during crises: A study of a financial institution in Kaduna, Nigeria
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Background of the study
Real-time marketing strategies have gained significant relevance during crises, enabling organizations to communicate timely and empathetic messages to their customers. In the financial sector, where trust and transparency are paramount, institutions in Kaduna have begun to adopt real-time marketing tactics to navigate periods of uncertainty and maintain customer confidence (Aliyu, 2023). This study examines the implementation of real-time marketing during crises and its impact on customer perception and engagement. Financial institutions leverage digital channels to deliver rapid responses, crisis updates, and personalized communications that address customer concerns (Bello, 2024). The dynamic nature of crises necessitates adaptive marketing strategies that can respond to rapidly evolving situations, thereby enhancing the institution's reputation and customer loyalty. Despite the potential benefits, the challenges associated with real-time communication—such as misinformation and over-saturation of messages—remain a concern (Suleiman, 2023). This research applies theories of crisis communication and digital marketing to assess the effectiveness of these strategies. By analyzing communication metrics and customer feedback, the study seeks to provide actionable recommendations for financial institutions to optimize their real-time marketing efforts during periods of crisis, thereby ensuring continued trust and engagement (Hassan, 2024).
Statement of the problem
Financial institutions in Kaduna encounter difficulties in executing real-time marketing strategies effectively during crises. Although rapid communication is crucial, many institutions struggle with balancing timely updates and maintaining message accuracy, leading to potential customer confusion (Usman, 2023). The challenge lies in the lack of structured frameworks that guide real-time responses during emergencies, resulting in inconsistent messaging and reduced customer confidence. Furthermore, the risk of overloading customers with information during critical periods can undermine the institution’s credibility. This study aims to address these issues by evaluating how real-time marketing influences customer perceptions and by identifying the factors that facilitate effective crisis communication (Abdul, 2024).
Objectives of the study:
To evaluate the impact of real-time marketing strategies during crises.
To identify key factors that ensure effective crisis communication in the financial sector.
To recommend best practices for real-time marketing during emergencies.
Research questions:
How do real-time marketing strategies affect customer perceptions during crises?
What factors contribute to effective real-time communication in financial institutions?
How can financial institutions optimize their crisis communication strategies?
Significance of the study
This study is crucial for financial institutions aiming to enhance their crisis communication strategies through real-time marketing. By identifying effective practices and key challenges, the research provides actionable insights to maintain customer trust and improve brand resilience during emergencies. The findings will inform both academic research and practical implementations, contributing to improved crisis management strategies in the financial sector.
Scope and limitations of the study:
This research is limited to examining real-time marketing strategies during crises within a financial institution in Kaduna, Nigeria. It does not consider other industries or non-crisis periods.
Definitions of terms:
Real-time Marketing: Strategies that involve immediate communication in response to current events.
Crisis Communication: The process of communicating with stakeholders during emergencies.
Customer Engagement: The interaction between an organization and its customers, especially during challenging periods.
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