ABSTRACT

The competitive landscape in the Microfinance Banking Industry has accentuated the need for effective marketing communication strategy in the marketing of bank services. The objective of this study was to examine the effect of marketing communication tools on the savings mobilization drive of microfinance banks in Akwa Ibom State. To achieve this objective, data were collected using a survey of 400 respondents drawn from the bank branch/cash centres marketing managers, selected staff and customers. 400 copies of the questionnaire were retrieved in useable form representing 100 percent and data analyzed using the simple Regression Model (SRM). Data generated from the study were processed, using descriptive and inference statistics and hypotheses tested with linear regression at 0.05 level of significance. Findings revealed that sales promotion, advertising, publicity and personal selling had significant influenced on savings mobilization drive of microfinance banks in Akwa Ibom State. Based on the findings of this study, the following conclusions were established. Marketing communication tools had significance influence on the savings mobilization drive of Microfinance Banks. This means that increasing efforts in marketing communication potentials of microfinance banks will also yield a corresponding increase in savings mobilization.  Thus, we recommended that managers of microfinance banks should enhance effective use of marketing communication tools  strategies to increase savings mobilization drive of microfinance banks.