ABSTRACT
The purpose of this research work is to appraise the application of direct and online
marketing in the Banking Industry. Direct and online marketing use a wide variety of
channels to reach prospects and customers. Participating companies can use these
strategies as instruments to rate their performance in relation to the best practices of high
performing product or service. The following objectives were formulated; to determine
the reasons for application of direct and online marketing, to evaluate how effective
channel of communication impacts on the banks profitability, to ascertain if the
application and usage of direct and online marketing is deceptive and fraudulent to the
banks customers, to determine if there are benefits tied to the application of direct and
online marketing.
The study had a population of 2,401, out of which a sample size of 343
was realized using Taro Yamane formula. Questionnaire was primarily used for data
collection. 343 copies of questionnaire were distributed and 304 copies were collected.
The survey research method was adopted for the study while chi-square was used to test
the hypotheses. The findings showed that the application of direct and online marketing
communication enhances marketing of banking products and services, effective channel
of communication impacts positively on the profitability of the bank, application and
usage of direct and online marketing by zenith bank is deceptive and fraudulent to their
customers, the benefits tied to direct and online marketing attracts customer’s patronage.
The study concludes that direct and online marketing is a major index in increasing the
return on investment and productivity level of banks. The study recommends that Banks
should periodically organize seminars and symposia for their customers on the need to
safeguard their pin code and in doing so give them quality services on automated teller
machine.
