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Satisfaction with virtual communities in B2B financial services: social dynamics, content and technology

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Abstract

This study explores satisfaction with Virtual Communities in a Financial Services setting. Based on Expectancy Value Theory and the concept of Experiential Value we hypothesize that three sources of value drive user satisfaction in a B2B-VC: social ties, content and technology. We propose a theoretical model to operationalize these concepts. The hypotheses in the model are tested via a Partial Least Square analysis on data gathered via a survey among participants in a leading Virtual Community in the Financial Services industry. As such, we aim to contribute to the growing body of knowledge on Social Media, in particular addressing the relatively unexplored domain of Business-to-Business (B2B) where individuals act on behalf of a company instead of their own interests. Our findings show that user satisfaction in a B2B-VC is driven by the three aforementioned sources of value.

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Notes

  1. Banks refer to “Retail Banking” when servicing consumers and SMEs, and “Commercial Banking” when referring to servicing (large) corporate clients and financial institutions.

  2. Retrieved online from community website (May 2011); the facilitators of the community have requested that the identity of the community and the company sponsoring it should remain anonymous.

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Acknowledgments

The authors wish to express their gratitude to ING Commercial Bank, The Netherlands for providing the sponsorship for this study, and in particular Mirande van Rossen for her support during the project, as well as the support we received from the moderator of the B2B-VC we studied and his financial institution.

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Authors and Affiliations

  1. Department of Information Systems, Logistics & Innovation, VU University Amsterdam, de Boelelaan 1105, 1081 HV, Amsterdam, The Netherlands

    Evangelos Chompis, Bart van den Hooff, Frans Feldberg & Hans Horn

  2. Bons Academic Services, KNSM-Laan 741, 1019 LJ, Amsterdam, The Netherlands

    Roger W. H. Bons

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  1. Evangelos Chompis
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  2. Roger W. H. Bons
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  3. Bart van den Hooff
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Correspondence to Roger W. H. Bons.

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Chompis, E., Bons, R.W.H., van den Hooff, B. et al. Satisfaction with virtual communities in B2B financial services: social dynamics, content and technology. Electron Markets 24, 165–177 (2014). https://doi.org/10.1007/s12525-014-0160-z

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