What do people "like" on Facebook? Content marketing strategies used by retail bank brands in Australia and Singapore

Previous research has yet to examine the effectiveness of social media content strategies in the financial services sector. This study advances knowledge of content strategies used by retail bank brands by examining how the type of message, the post format and the source of the content influence customer engagement independently and interactively. A total of 541 posts from the Facebook pages of ten banks in Australia and Singapore are analysed using multiple regressions. Results suggest that in the Singaporean sample, persuasive-only content and mixed content lead to more likes and emoji responses, whereas informative-only content is effective in generating comments and questions. Furthermore, videos and third-party sources strengthen the relationship between informative-only content and customer engagement. In the Australian sample, informative-only content and mixed content are more effective than persuasive content in engaging customers. The findings support an integrated view of content design and highlight the importance of adjusting the content strategy to suit the utilitarian nature of banking services and engage high-involvement customers.