Can ubiquity moderate m-banking resource-related negative effects?

CAN UBIQUITY MODERATE M-BANKING RESOURCE-RELATED NEGATIVE EFFECTS? Prodanova, Jana; San Martín, Sonia; Jiménez, Nadia. Universidad de Burgos. RESUMEN El objetivo de este estudio es explorar la influencia de los inconvenientes de la banca móvil relacionados con la falta de recursos en la satisfacción de los clientes, su disposición a recibir marketing móvil de permiso y la emisión de boca-oreja. Analizando una muestra de 1429 usuarios de banca móvil, determinamos que la satisfacción de los clientes influye en su disposición a recibir marketing móvil de permiso y emitir boca-oreja, mientras que la disposición a recibir marketing móvil de permiso tiene un efecto positivo sobre la emisión de boca-oreja. Siendo la ubicuidad un atributo distintivo de la banca móvil, observamos su papel moderador, identificando que hay clientes que consideran la ubicuidad como una característica importante de la banca móvil, mientras que otros no la consideran relevante. Este estudio propone recomendaciones para mejorar el uso de los servicios de la banca móvil, evitando o disminuyendo los efectos negativos de sus inconvenientes. Palabras Clave: Banca móvil; inconvenientes; satisfacción; boca-oreja; marketing de permiso; marketing móvil; ubicuidad. ABSTRACT The objective of this study is to explore the influence of m-banking resource-related inadequacies on clients’ satisfaction with the banking services, their permission-based mobile marketing tendencies and word-of-mouth emission actions. Analysing a sample of 1429 users of mobile banking services, we determined that clients’ satisfaction influences their willingness to receive permission-based mobile marketing and to emit word-ofmouth, while the willingness to receive permission-based mobile marketing has a positive effect on the word-of-mouth emission. In order not to overlook the ubiquity as a distinguishing attribute of m-banking services, we observe its moderating role, identifying clients who consider ubiquity as an important m-banking characteristic and others who do not consider it relevant. Hence, attending the opinion of actual m-banking clients, this study proposes suggestions for improving the use of m-banking services by avoiding or lessening the negative effects of m-banking resource-related inadequacies. Keywords: Mobile banking; inadequacies; satisfaction; WOM; permission-based marketing; mobile marketing; ubiquity. XXIX CONGRESO DE MARKETING AEMARK 2017 52 de 1617 ÍNDICE TRABAJOS PONENCIAS CC 1. Introduction Nowadays, the new technology that is increasingly implemented by most of the banks is mobile banking (m-banking). This channel has captured the attention of clients and companies because it can provide the same traditional services such as money transfer, checking deposit or paying bills, but it even introduces new electronic services, like virtual personal banking consultant and services that enable to transfer and withdraw money to automated teller machines (ATMs) without a card. M-banking is characterised by convenience, speed, and ease of use (Lu et al., 2014) and has been considered an innovative channel because of its use of mobile devices for accessing banking services to complete commercial or non-commercial banking transactions, without time and place constraints (Wei, 2011). The continuous upgrade of the electronic banking channels has become essential for generating a competitive advantage and maintaining clients satisfied, starting with ATM services, followed by Internet banking, the nowadays popular m-banking and potentially the QR codes (Makarem et al., 2009). M-banking, with its ubiquity attribute, is positioning itself as a wireless service delivery channel creating added value to banking transactions (Dzogbenuku, 2013). The literature alludes to the importance of customer adoption, satisfaction and behaviour in m-banking as the most important aspects of the Relationship Marketing approach (Berry, 2002), necessary for achieving m-banking continuous usage and creating a long-term B2C relationship (Lu et al., 2014). Moreover, satisfaction drives clients to participate in further actions, such as word-of-mouth (WOM) and marketing activities, which additionally stimulates a loyal relationship (Roy and Butaney, 2014). Precisely for the Spanish market, the mobile channel has been recognised as an important business opportunity in the banking sector (Aldás et al., 2011; Liébana-Cabanillas et al., 2014). Besides, Laukkanen (2007) argues that the attributes of the service and the delivery channel are those that create value for clients and influence clients’ experience and preference of the same. This is likewise postulated in the Signalling Theory, in particular for the services industry. Precisely, since the quality of the service can only be evaluated after clients have experienced the service by themselves (Nelson, 1970), companies use a variety of signals that are supposed to mitigate the information asymmetry and the resulting uncertainty for clients (Kirmani and Rao, 2000). However, it is not always a positive encounter, since there are some incidents that the clients have been experiencing with the entities since the new technologies introduction in the banking sector (Bitner et al., 2000). This fact could happen as a result of a negative reaction by a customer to a chosen signal. Although signals are meant to improve the communication of the features of the service, sometimes they are perceived negatively by clients (Boulding and Kirmani, 1993). Consequently, a negatively perceived signal by clients is followed by negative behavioural responses. Therefore, we consider important to research the negative effect that some m-banking characteristics might have on the clients’ behavioural intentions and assure that a close and steady customer-company relationship will be fostered. Accordingly, the objective of this study is to get deeper into m-banking characteristics and understand their influence on customer satisfaction, willingness to receive permissionbased mobile marketing (PBMM) and WOM activity, while observing how the last three XXIX CONGRESO DE MARKETING AEMARK 2017 53 de 1617 ÍNDICE TRABAJOS variables are interrelated between each other. Having in mind that previous literature has paid significant attention to the positive characteristics or benefits of m-banking (Hanafizadeh et al., 2014), here we will try to fill a gap resulting from the lack of information related to clients’ perception of m-banking resource-related inadequacies. Furthermore, it was recognised that companies would have to foresee clients’ needs and anticipate some differential characteristics that would add value to m-banking compared with the rest of the banking channels. That is a reason to consider the substantial importance of carrying out a thorough research about the influence of the perceived mbanking resource-related inadequacies related to the resource absence, on clients’ perceptions and behaviours. We will likewise look at ubiquity, being it an original mbanking characteristic, and the possible changes that the clients’ perceptions regarding its importance in m-banking may generate in their behavioural intentions. 2. Theoretical background and proposed hypotheses Clients feel doubts, anxiety or uncertainty when they perceive that their expectations about a certain service are not fulfilled (Poon, 2007). Situations like this are explained with the lack of security and misuse of privacy policy, information unavailability, failure to update it and a dearth of credibility (Poon, 2007), which are perceived as negative elements of electronic banking services. When it comes to m-banking specifically, a negative influence on clients’ adoption and use of this service are found to be the lack of understanding of the practicality of this channel, the difficulty of use because of incomplete information, the absence of personal interaction and advice or the unavailability of cash money (Shohag, 2013; Vyas and Raitani, 2014). Furthermore, Zhou et al. (2010) consider that clients’ perception of m-banking characteristics will depend on the task they need to complete the action. Thus, if their task is not directly related to m-banking benefits (for instance, fast, convenient, and ubiquitous transaction), clients could not perceive m-banking as a useful channel with improved performance, and will opt for the adoption of other alternative service such may be Internet banking, ATMs or traditional office banking services. Hence it is important to study m-banking attributes that alter clients’ m-banking usage. To the extent of our knowledge, no any study deals with the issue of the negative causal effects of perceived resource-related inadequacies on m-banking usage. Nevertheless, the perceived barriers to m-banking services have appeared as a research line in few occasions (Alalwan et al., 2016). After a broad literature review, we focus on an aspect that embraces three of the main m-banking barriers previously portrayed in the m-banking literature, precisely m-banking resource-related inadequacies. As Berry (2002) state, when clients perceive that their sacrifices are bigger than their benefits, they will no longer perceive the advantages but will recognise and focus on the inadequacies of the service. In the mobile technology literature, the intangible resources related to technology and people interaction are critical for companies in order to create an advantage (Peppard and Ward, 2004), converting the lack of resources in one of the most complained aspects of m-banking. Thus, perceived shortcomings about effort, delivery and contact dimensions related to a specific service usage, are negatively perceived by clients (Berry, 2002). Moreover, the deficiency of resources such as the lack of information about m-banking services, the absence of personal advice, and the unavailability of cash, have also been considered important inadequacies of m-banking (Shohag, 2013). Hence, the mXXIX CONGRESO DE MARKETING AEMARK 2017 54 de 1617 ÍNDICE TRABAJOS banking shortcoming identified in this study is the resource absence, which describes money unavailability, lack of information and impossibility of advice. By nature, individuals aim to keep their cognitive system in balance, and when inconsistencies in their opinions, attitudes or expectations appear, they tend to feel uncomfortable and involve in undesirable behaviours (Bauer et al., 2005) that may jeopardise the maintenance of the relationship with the company. Several authors have pointed out the necessity of studying the negative effect of m-banking barriers, as an essential aspect that once overcome will encourage a relationship between clients and mbanking entities (Mishra and Singh, 2015). Consequently, clients’ perception of m-banking resource-related inadequacies might play a major role in the creation of clients’ satisfaction, PBMM attitudes, and WOM activities, as some of the essential elements for achieving a durable relationship with m-banking users (Lu et al., 2014). With the aforementioned in mind, following is offered the theoretical explanation regarding the relations proposed for the model variables. 2.1. M-banking resource absence and its negative influence on clients’ satisfaction In a mobile technology context, satisfaction can be seen as an emotional response, resulting in m-commerce related activities, and motivated by services, information and systems dimensions (Wang and Liao, 2008). Oliver (1997) defines satisfaction as the level of fulfilment that clients feel related to an overall consumption of a product or service. Jones and Suh (2000) consider that overall satisfaction is updated after every new transaction. Therefore, clients’ satisfaction with m-banking services has to be considered as an evaluation of the fulfilment provided by m-banking performance. Characteristics of the service impact clients’ satisfaction with the service (Shirsavar et al., 2012). Companies’ service and the level of communication efficiency affect customer satisfaction with m-banking (Song and Hollenbeck, 2015). Furthermore, a balanced implementation of people, technology and process components, such as human resource, information, and performance capabilities, will result in a more effective clients’ decision making and satisfaction (Kim et al., 2010). Therefore, if clients need for personal attention and advice when using m-banking services is not pleased, it will have a negative effect on clients’ adoption and satisfaction with the mobile service (Song and Hollenbeck, 2015). Consequently, lack of information and absence of personal advice and cash, are perceived as m-banking drawbacks that could influence clients’ satisfaction. In fact, clients’ satisfaction in m-banking will depend on their perception of m-banking inadequacies regarding the B2C relation and the service (Sagib and Zapan, 2014). If clients perceive that the offer is inconvenient, it will decrease the generation of satisfaction (Choi et al., 2008). Therefore, we suppose that if clients perceive an inconvenient service resulting from resource absence, their satisfaction will be reduced. Thus, our first hypothesis is proposed: H1: Clients’ perception of m-banking resource-related inadequacies negatively influences their satisfaction with m-banking services. XXIX CONGRESO DE MARKETING AEMARK 2017 55 de 1617 ÍNDICE TRABAJOS 2.2. M-banking resource absence and its negative influence on clients’ willingness to receive PBMM Since mass media cannot target clients with high precision and are not able to customise the offer (Krishnamurthy, 2001), companies employ permission-based marketing strategies, which by asking clients for permission to send marketing communications, allow them to focus on customer preferences and build a tailored interaction (Kent and Brandal, 2003). Permission-based marketing enables clients to express and specify their interest in receiving marketing communication and qualifies companies to use this information to maintain the interaction and to personalise advertising messages (Brey et al., 2007). Clients’ perception of interaction positively influences attitudes in mobile communications (Song and Hollenbeck, 2015). The willingness to engage in PBMM refers to clients’ intention to receive marketing communications related to a product or service on their mobile phone and is considered essential in developing clients’ behavioural intentions regarding mobile phone services usage (Sultan et al., 2009). Clients who appreciate a service show an increased propensity to engage in permissionbased marketing actions (Tezinde et al., 2002). Clients’ perception of the mobile channel and its services is a key determinant of their m-marketing attitude (Rohm et al., 2012). Moreover, information, the possibility for advice, schedule issues such timing and location, and convenience in the form of relevance and personalisation of the service, are likewise important motives for engaging in PBMM activities (Watson et al., 2013). Accordingly, if clients have concerns about the service provided, they will try to avoid marketing communication (Oger et al., 2015). Clients’ perception regarding the service is an important antecedent of their behavioural intentions in m-banking (Sagib and Zapan, 2014). If clients continuously notice interruption or unavailability of m-banking services, they will experience negative perceptions which will follow with negative attitudes in m-banking (Zhou, 2012). Clients’ recognition of the service as loss-free will influence further attitude and behaviour with m-banking (Wang, 2014). Contrary, when clients’ evaluation of the service provided is perceived as poor, they will show negative responses and behaviours, since poor service is a contributing factor to negative quality perception and unfavourable clients’ behavioural intentions (Vyas and Raitani, 2014). Consequently, if clients perceive m-banking resources as inconvenient, their attitude and intentions towards it will not be positive. Thus, the next hypothesis assumes that: H2: Clients’ perception of m-banking resource-related inadequacies negatively influences their willingness to receive PBMM from a bank entity. 2.3. The link between satisfaction, PBMM, and WOM in m-banking Clients’ positive purchasing experiences and their satisfaction with the service, will influence their innovative services usage and their attitude towards m-banking (Moradi et al., 2012). Clients’ perception of a service is an important antecedent of their behavioural intentions (Sagib and Zapan, 2014). If clients perceive positive outcomes of m-banking usage, they will engage in further m-banking related tasks. XXIX CONGRESO DE MARKETING AEMARK 2017 56 de 1617 ÍNDICE TRABAJOS The interest in WOM has been increasing in the marketing literature since it has been commonly identified as an important factor that influences customer behaviour, especially in the electronic intangible environment where it is more common for clients to rely on interpersonal communication. That is why the need to study what motivates clients to share WOM is amongst the important current research questions (Luarn et al., 2014). WOM has been observed as a critical factor for success in the services sector (Wagenheim and Bayón, 2004) and especially in the financial services (Sweeney et al., 2008). WOM is defined as spreading information about products, services or brands among individuals (Shirsavar et al., 2012). In marketing literature it is confirmed that positive experiences with a service usage drive clients to engage in WOM activities (Babin et al., 2005), especially encouraging clients to recommend (Fullerton, 2005). Precisely, clients’ satisfaction with a the purchase of mobile services motivates their positive WOM activity and loyalty (Chu and Kim, 2011; SanMartín et al., 2015). In fact, for the m-banking sector, satisfaction is found to influence clients’ intention to recommend a service delivered by this channel (Sagib and Zapan, 2014). Lastly, clients who feel satisfied with the service or with the service provider performance are prone to involve in m-marketing services with their provider (Deng et al., 2010). Additionally, clients’ satisfaction has been extensively recognised as one of the fundamental determinants of clients’ continuance intention and as a crucial factor in mobile communication services (Calvo-Porral and Lévy-Mangin, 2015). Following those arguments above, the ensuing hypotheses are proposed: H3: Clients’ satisfaction with the m-banking services positively influences their intention to emit WOM regarding these services. H4: Clients’ satisfaction with the m-banking services positively influences their willingness to receive PBMM from a bank entity. The permission-based marketing message is anticipated, personal and relevant since it is adapted to actual and expected clients’ needs and preferences (Brey et al., 2007). It is seen as the most appropriate strategy for selling high-involvement services and influencing clients’ behavioural intentions (Godin, 1999). Through the benefits of m-marketing interactivity, clients establish a direct relation with the company (Bauer et al., 2005). Permission-based mobile messages catch clients’ attention and contribute to engendering clients’ engagement with the firm (Watson et al., 2013). It is considered that m-marketing activities likewise improve communication among clients and among companies (Salo, 2012), besides the B2C communication. Clients’ propensity to explore and use information designates their m-marketing attitude (Bauer et al., 2005). When clients show a tendency to involve in PBMM, it results in improved service and brand awareness, positive service and brand related attitudes, and increased the level of positive behavioural response (Barwise and Strong, 2002). Based on this, we propose that clients who are willing to engage in PBMM will be more prone to emit WOM. Accordingly: H5: Clients’ willingness to receive PBMM from a bank entity positively influences their intention to emit WOM regarding m-banking services. XXIX CONGRESO DE MARKETING AEMARK 2017 57 de 1617 ÍNDICE TRABAJOS 2.4. The role of ubiquity in the provision of m-banking services In the term mobile technology, mobile refers to the mobile devices characteristic that enables information, communication and transaction activities to be done in movement (Yuan et al., 2010). This specificity of mobile devices, determined as ubiquity, is found essential to the mobile services because it gives clients the possibility for executing a variety of tasks anywhere and anytime, without the need of a wired network (Huggard and Mc Goldrick, 2013). Ubiquity endows companies a continuous interaction with clients, and allow them to deliver personalised, timely and location-based offers, and to provide reliable and convenient payment services (Zhou, 2012). In m-banking literature, ubiquity has been considered the main advantage of the m-banking channel, removing spatial and temporal limitations, and allowing the carry out of ubiquitous m-banking services (Zhou, 2012). Clients’ perception of ubiquity helps them in the evaluation of the mobile services and shapes their m-commerce-related attitudes and intentions (Marinkovic and Kalinic, 2017). The location-free access to the service, the ability to react immediately to the emerging need and the time-saving opportunity describe the contribution of ubiquity in m-banking services (Laukkanen and Lauronen, 2005). Consequently, we propose the following research question (RQ) regarding the moderating effect of ubiquity in two different groups of clients, those that perceive the ubiquity of m-banking as an important characteristic and those that do not perceive it in the same manner. Consequently: RQ: Does the ubiquity of m-banking services moderate the relations proposed in hypotheses H1 to H5? Figure 1 presents the relationships proposed with the hypotheses and the novel RQ of this research. FIGURE 1: Proposed Research Model. XXIX CONGRESO DE MARKETING AEMARK 2017 58 de 1617 ÍNDICE TRABAJOS 3. Research methodology 3.1. Sample and scales characteristics For the purpose of this research data from 1429 Spanish m-banking clients was employed. Information about the data collection is given in Table 1. TABLE 1: Fact sheet. Characteristics Questionnaire Population statistics Bank users of both genders, from 25 to 70 years old, residents of municipalities with over 10.000 inhabitants. Geographical field Spain Sample size 1429 m-banking clients Sampling error ±2.59% (confidence level of 95.5%, p=q=0.5, for the case of maximum uncertainty) Execution period October – November 2013 The average m-banking clients are men, mainly at the age from 25 to 44 (79.9%) years. Most of the clients have a university degree (72.2%) and are employed (83.3%). The most common income is higher than 1800€ per month (31.9%). There is a balance in the usage and non-usage of m-banking services ubiquitously, either at home, at work, in public transport or other places. The demographic and socio-economic profile of the sample is described in detail in Table 2. TABLE 2: Sample characteristics. Demographical characteristics % Gender Men 57.5 Women 42.5 Age 25-34 46.9 35-44 33.0 45-54 15.2 55-70 4.9 Education Basic studies or less 1.7 High school 7.0 Associate degree 19.1 University degree 72.2 Occupation Employed 83.3 Unemployed 16.7 XXIX CONGRESO DE MARKETING AEMARK 2017 59 de 1617 ÍNDICE TRABAJOS Demographical characteristics % Monthly income < 900€ 16.7 900 to 1200€ 20.1 1201 to 1500€ 18.5 1501 to 1800€ 12.8 > 1800€ 31.9 Connects to m-banking ubiquitously (at least three places were chosen between “home”, “work”, “public transport” or “other places”) Yes 48.6 No 51.4 The measurement scales employed to test the proposed model in this chapter contain one item for each considered variable: clients’ satisfaction (“Level of satisfaction with mbanking”), their willingness to receive PBMM (“Interest in personalised advertising regarding the products and services offered by the banking entity through m-banking”) and WOM emission (“Degree of probability of recommending to others the m-banking as a shopping channel”), measured with 5-point Likert scales. Three dichotomous items were used to measure m-banking resource-related inadequacies. To measure m-banking ubiquity, clients were asked the following question: “In which places do you normally connect to the banking entity via m-banking?”, having the possibility to answer through a multiple choice, with “home”, “work”, “public transport” or “other places”. Based on the valid answers, further, two different groups of clients were defined (i.e. ‘ubiquitous clients’ and ‘nonubiquitous clients’). 3.2. Analyses and results According to guidance by Hair et al. (2014) at the beginning, the reliability and internal consistency of the scales had to be tested. Therefore, at first, it was confirmed the direct relation between the items of the m-banking resource-related inadequacies construct, presenting significant values at a confidence level of 95% (t>1.96) in all cases (Table 3) 1 . The Cronbach α and composite reliability (CR) coefficients demonstrate reliability and internal consistency of the scales, represented with values higher than 0.7 and 0.6 respectively (Bagozzi and Yi, 1988). The AVE with measures superior than 0.5 shows an adequate global quantity of variance for each item that is explained by the latent constructs (Bagozzi and Yi, 1988). Consequently, the convergent validity was confirmed. 1 Indicators with outer loadings between 0.40 and 0.70 should be considered for removal only if their deletion leads to an increase in the CR and AVE (Hair et al., 2014). Since, in the case of this study, the CR and AVE values don’t increase with the deletion of the indicator with a value lower than 0.708, we decided to keep the precise indicator. XXIX CONGRESO DE MARKETING AEMARK 2017 60 de 1617 ÍNDICE TRABAJOS Bitner, M. J., Brown, S. W., & Meuter, M. L. (2000). Technology infusion in service encounters. 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