Digital marketing in the banking sector in Latin America 2020 - 2024: a systematic review
Article Sidebar
Main Article Content
Abstract
This study addresses the evolution of digital marketing in the Latin American banking industry during 2020-2024, in a context marked by rapid digitalization driven by the COVID-19 pandemic. Its purpose is to analyses previous evidence and research on the topic in the Latin American scene. The methodology employed was a systematic literature review using the PRISMA method, examining academic articles in five search engines: Google Scholar, ProQuest, Scielo, Redalyc and Ebsco, in three languages (Spanish, English and Portuguese). The results indicate that most of the research has a qualitative and exploratory approach, evidencing the novelty of the topic in both the industry and region studied. The digital marketing strategies highlighted include the use of social media to create multiple digital touchpoints with customers and the creation of long-term personalized relationships with stakeholders. In conclusion, digital marketing in the banking sector has proven to be a crucial tool to generate value and establish lasting connections with customers, adapting to the new necessities of the digital market. However, academic research on the topic is still at an incipient stage in this region.
Downloads
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
COPYRIGHT NOTICE
Authors who publish in the INNOVA Research Journal keeps copyright and guarantee the journal the right to be the first publication of the work under the Creative Commons License, Attribution-Non-Commercial 4.0 International (CC BY-NC 4.0). They can be copied, used, disseminated, transmitted and publicly exhibited, provided that: a) the authorship and original source of their publication (magazine, publisher, URL and DOI of the work) is cited; b) are not used for commercial purposes; c) the existence and specifications of this license of use are mentioned.
References
Acheampong, S. (2023). Sustainable Marketing Performance of Banks in the Digital Economy: The Role of Customer Relationship Management. Virtual Economics, 6(1), 19-37. https://doi.org/10.34021/ve.2023.06.01(2)
Agudelo, M., Chomali, E., Suniaga, J., Núñez, G., Jordán, V., Rojas, F., & Jung, J. (2020). Las oportunidades de la digitalización en América Latina frente al Covid-19. CAF. https://scioteca.caf.com/handle/123456789/1541
Amelda, B., Alamsjah, F., & Elidjen, E. (2021). Does the digital marketing capability of Indonesian banks align with digital leadership and technology capabilities on company performance? CommIT (Communication and Information Technology) Journal, 15(1), 9–17. https://doi.org/10.21512/commit.v15i1.6663
Barquero, W. (2022). Análisis de prisma como metodología para revisión sistemática: Una aproximación general. Saúde em Redes, 8(1), 339–360. https://doi.org/10.18310/2446-4813.2022v8nsup1p339-360
Bernardino, S., Santos, J., & Oliveira, S. (2021). The impact of social media and e-WOM on the success of reward-based crowdfunding campaigns. Cuadernos de Gestión, 21(2), 35-48. https://pwebebsco.upc.elogim.com/ehost/pdfviewer/pdfviewer?vid=4&sid=7010f40f-f15a-4ffd-a289-69a13d0c7779%40redis
Bueno, E., Longo, M., & Morcillo, P. (2017). La innovación del modelo de negocio bancario: El reto de la banca digital. Revista de la Asociación Española de Contabilidad y Administración de Empresas, 120, 5-8. https://aeca.es/wp-content/uploads/2019/10/120.pdf
Carbó, S. & Rodríguez, F. (2021). El sector bancario español tras la pandemia: rumbo a las plataformas. Papeles de Economía Española, 170, 29-42. https://www.funcas.es/wp-content/uploads/2021/12/PEE-170_Carb%C3%B3.pdf
Conti, E., Camillo, F., & Pencarelli, T. (2023). The impact of digitalization on marketing activities in manufacturing companies. The TQM Journal, 35(9), 59-82. https://doi.org/10.1108/TQM-11-2022-0329
Corporación Andina de Fomento. (2020). El estado de la digitalización de América Latina frente a la pandemia del COVID-19. Development Bank of Latin America and the Caribbean. Recuperado el 6 de abril de 2024 de https://scioteca.caf.com/handle/123456789/1540
Da Silva, M., & Borges, K. (2022). Marketing digital no setor bancário: o uso das ações de marketing digital nos bancos tradicionais e bancos digitais. Ciências Sociais Aplicadas em Revista, 23(43), 1-26. https://doi.org/10.48075/csar.v23i43.29584
De La Vega, A., & Arbaiza, F. (2022, 22-25 de junio). La percepción del consumidor millennial de los mensajes digitales del sector bancario durante la pandemia [Conferencia]. 17th Iberian Conference on Information Systems and Technologies (CISTI), Madrid, España. https://pwebebsco.upc.elogim.com/ehost/pdfviewer/pdfviewer?vid=2&sid=4974e43d-4b7a-4950-86a6-2c582b2f93e2%40redis
Gómez, S., Bermeo, M., & Valencia-Arias, A. (2021). Factores determinantes para la adopción del marketing digital en pymes: un estudio exploratorio. Semestre Económico, 24(57), 217-237. https://doi.org/10.22395/seec.v24n57a11
Hasan, I., Schmiedel, H., & Song, L. (2012). Returns to Retail Banking and Payments. Journal of Financial Services Research, 41(3), 163-195. https://doi.org/10.1007/s10693-011-0114-y
Hemachandra, S., Sharkasi, N. (2021). Digital Transformation Induced by the Covid-19 Pandemic. In: Martínez-López, F.J., López López, D. (eds) Advances in Digital Marketing and eCommerce. DMEC 2021. Springer Proceedings in Business and Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-76520-0_6
Hryckiewicz, A. (2016). Bank activities and their risk. Does an optimal model exist in banking?. Argumenta Oeconomica, 36, 125-164. https://doi.org/10.15611/aoe.2016.1.06
Keke, M. (2022). The use of digital marketing in information transport in social media: the example of Turkish companies. Transportation Research Procedia, 63, 2579–2588. https://doi.org/10.1016/j.trpro.2022.06.297
Korobov, Y. (2020). Impact of digitalization on consumer behaviour and marketing activity in financial markets. SHS Web Of Conferences, 73, 10-13. https://doi.org/10.1051/shsconf/20207301013
Kotler, P. & Keller, K. (2016). Marketing Management. Pearson.
Kovács, T., Ko, A. & Asemi, A. (2021). Exploration of the investment patterns of potential retail banking customers using two-stage cluster analysis. Journal of Big Data, 8(1) https://doi.org/10.1186/s40537-021-00529-4
Lee, S. (2022). PRISMA 2020 statement and guidelines for systematic review and meta-analysis articles, and their underlying mathematics. Life Cycle, 2. https://doi.org/10.54724/lc.2022.e9
Legarreta, J. & Miguel, C. (2003). Internet y los nuevos poderes del consumidor bancario. Boletín Económico de ICE, 1 (2757), 7 - 21- https://www.revistasice.com/index.php/BICE/article/view/3135
Lizovskaya. (2020). Marketing in Banking Sector and Digital Ecosystems. Business Cooperation And Prospective Of Economic Development, 131(1). https://doi.org/10.2991/aebmr.k.200324.146
Lulzim, X. (2022). Digital marketing in retail banking. Economic Alternatives, 3(2), 454-472. https://www.unwe.bg/doi/eajournal/2022.3/EA.2022.3.06.pdf
Luna, L. & Vargas, L. (2021). La transformación digital en el sector bancario y la atención al cliente en épocas de pandemia. [Tesis de bachiller, Universidad Católica de Colombia]. Repositorio Universidad Católica de Colombia. https://repository.ucatolica.edu.co/server/api/core/bitstreams/2d67a4bc-fae2-455b-8d27-da05710312e9/content
López, M., González, V., & Rodríguez, C. (2012). Análisis conceptual del marketing tradicional versus marketing digital: Una aplicación al sector bancario. Revista Científica do ISCET, 2(4), 52-59. https://percursoseideias.iscet.pt/wp-content/uploads/2022/03/PI_2011-12_N03-04_MIE5.pdf
Magno, J. & Mautino, L. (2020). El inbound marketing como estrategia de atracción y fidelización de clientes para la adquisición de tarjetas de crédito de consumo en el sector bancario peruano. [Tesis de bachiller, Pontificia Universidad Católica del Perú]. Repositorio PUCP. https://repositorio.pucp.edu.pe/index/handle/123456789/177861
Manrique, J. (2021). Avance de la banca en Colombia y su relación con el marketing digital. [Tesis de maestría, Universidad EAN]. Repositorio EAN. https://repository.universidadean.edu.co/bitstream/handle/10882/10469/ManriqueJairo2021.pdf.pdf?sequence=1
Melinevskyi, A., Koberniuk, S., Bilousko, T., Vasiuta, V., & Strochenko, N. (2023). Digital marketing and its role in customer acquisition. Economic Affairs, 68(4), 2229-2238. https://doi.org/10.46852/0424-2513.4.2023.31
Miguens & Comesaña, (2021). Análisis conceptual del marketing tradicional versus marketing digital. una aplicación al sector bancario. Revista científica DO ISCET, 4 (2), 52-66. https://www.redalyc.org/articulo.oa?id=409674549001
Muthoni, N. (2015). Effectiveness of digital marketing strategies on performance of commercial banks in Kenya. [Tesis de maestría, Universidad de Nairobi]. Repositorio University of Nairobi. http://erepository.uonbi.ac.ke/handle/11295/93319
Obregón, A. (2019). Marketing digital en el sector bancario. [Tesis de fin de grado, Universidad de Cantabria]. Repositorio UC. http://hdl.handle.net/10902/17509
Page, M., McKenzie, J., Bossuyt, P., Boutron, I., Hoffmann, C., Mulrow, C., Shamseer, L., Tetzlaff, J., Akl, E., Brennan, S., Chou, R., Glanville, J., Grimshaw, J., Hróbjartsson, A., Lalu, M., Li, T., Loder, E., Mayo-Wilson, E., McDonald, S., & Moher, D. (2022). A declaração PRISMA 2020: diretriz atualizada para relatar revisões sistemáticas. Revista Panamericana de Salud Pública, 46, 1-112. https://doi.org/10.26633/rpsp.2022.112
Priyanto, P. (2023). Impact Digital Business Strategy on Competitive Advantage in the Banking Sector. European Journal of Business and Management Research, 8(2), 65-70. https://doi.org/10.24018/ejbmr.2023.8.2.1875
Rhee, M. & Mehra, S. (2006). A strategic review of operations and marketing functions in retail banks. International Journal of Service Industry Management, 17(4), 364. https://doi.org/10.1108/09564230610680668
Rico, H., De La Puente, M., Rios, J., & Perez, H. (2024). Social media, brand loyalty and the banking industry in Colombia. Innovative Marketing, 20(1), 31-39. https://doi.org/10.21511/im.20(1).2024.03
Rocha, R., & Martins, R. (2021). Otimismo e pessimismo nos websites de economia e finanças. Sur le Journalisme, 10(1), 144-161. https://revue.surlejournalisme.com/slj/article/view/443
Rodrigo, C. (2012). Las revisiones sistemáticas: declaración PRISMA. Rev Esp Nutr Comunitaria, 18(1), 57-58. https://www.renc.es/imagenes/auxiliar/files/nutr_1-2012%20taller%20escritura.pdf
Rodrigues, A., Alves, T., & Prá, C. (2021). Impactos da pandemia de COVID-19 sobre o empreendedorismo digital nas instituições bancárias brasileiras: uma análise à luz das forças isomórficas. Estudios Gerenciales, 37(185), 113–125. https://doi.org/10.18046/j.estger.2021.158.4446
Rodriguez, Y., Duffus, D., & Milian, J. (2022). Marketing digital para productos y servicios informatizados de la banca. Revista El Directivo al Día, 21(1), 48-57. https://pwebebsco.upc.elogim.com/ehost/pdfviewer/pdfviewer?vid=2&sid=7010f40f-f15a-4ffd-a289-69a13d0c7779%40redis
Rojas, J., Riveros, A., Mejía, A., & Acosta, J. (2022). Positioning and Web Traffic of Colombian Banking Establishments. Theoretical and Applied Electronic Commerce Research. 17, 1473–1492. https://doi.org/10.3390/jtaer17040074
Sang-Uk, J., & Shegai, V. (2023). The Impact of Digital Marketing Innovation on Firm Performance: Mediation by Marketing Capability and Moderation by Firm Size. Sustainability, 15(7), 5711. https://doi.org/10.3390/su15075711
Santos, P. (2023). Transformação digital no sistema bancário: o impacto dos bancos digitais no mercado financeiro no Brasil. [Tesis de bachiller, Universidade de Passo Fundo]. Repositorio Académico UPF. http://repositorio.upf.br/handle/riupf/2542
Scordo, P. (2018). El impacto de la digitalización en el sector bancario argentino de renta alta. [Tesis de maestría, Pontificia Universidad Católica Argentina Santa María de los Buenos Aires]. Repositorio Institucional UCA. https://repositorio.uca.edu.ar/handle/123456789/8600
Sekhon, H., Al-Eisawi, D., Roy, S., & Pritchard, A. (2015). Service excellence in UK retail banking: customers' perspectives of the important antecedents. The International Journal of Bank Marketing, 33(7), 904-921. https://doi.org/10.1108/IJBM-10-2014-0136
Sodikin, M. (2020). Competitive advantages of sharia banks: Role of Ihsan behavior and digital marketing in new normal. Journal of Digital Marketing and Halal Industry, 2(1), 1–14. https://doi.org/10.21580/jdmhi.2020.2.1.5769
Soniya, K., & Santosh, R. (2018). Digital marketing in the banking sector. International Journal of Scientific Development and Research, 3(7). https://www.ijsdr.org/papers/IJSDR1807030.pdf
Urrutia, G., & Bonfill, X. (2010). Declaración PRISMA: una propuesta para mejorar la publicación de revisiones sistemáticas y metaanálisis. Fundación Dialnet, 135(11), 507-511 https://dialnet.unirioja.es/servlet/articulo?codigo=3300057
Vargas, A. (2021). Digital Banking: Technological Innovation in Financial Inclusion in Peru. Digital Data, 24(2), 110-120. https://www.redalyc.org/journal/816/81669876005/81669876005_2.pdf
Weber, A. (2021). O desenvolvimento de capacidades adaptativas de marketing para atuação no contexto de transformação digital: o caso de um banco de varejo brasileiro. Gestão e Negócios. 265(1). http://www.repositorio.jesuita.org.br/handle/UNISINOS/9872
Zegarra, L., Marquez, H., León, S., & De La Cruz, N. (2023). Utilización de canales digitales de las entidades bancarias del sector público privado. Revista de climatología, 23, 1184–1201. https://doi.org/10.59427/rcli/2023/v23cs.1184-1201