Exploring the rise of the social media phenomenon and investigating its role and impact in developing and nurturing brand communication: A study of Tesco bank

The aim of the study is to explore the role of social media and its impact in developing and nurturing brand communication, specifically within Tesco Bank. The objectives are to identify key factors in the rise of social media (in particular Facebook, Twitter and LinkedIn), explore the influence social media has within brand communication from an organisational and consumer perspective and to evaluate whether or not it has been viewed as a positive or negative change from both an organisational and consumer perspective. This study used a mixed method approach consisting of 2 face-to-face interviews with employees at Tesco Bank and 100 web-based questionnaires distributed to consumers via email, in order to gain both an organisational and consumer perspective on the impact social media is having on brand communication. The study showed that the impact of social media on brand communication has been significant as many consumers as well as organisations are actively using these platforms to communicate. However in Tesco Bank’s case due to the nature of their business, social media has presented them with obstacles, in regards to regulation and data protection policies. It was found that from a consumer perspective that social media as a method of brand communication was very positively accepted, however consumers were not too aware of it being utilised by the banking industry. Further research from a consumer perspective would be essential as there was very little empirical research available. As this study only took into consideration three social media platforms, a further look out with ‘social networking sites’ would be recommended, and a survey of multiple industries in order to compare the impact social media has had on their brand communication