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Drivers of
Exploring the drivers of social social media
media marketing in Malaysian marketing

Islamic banks
An analysis via smart PLS approach
Hassanudin Mohd Thas Thaker Received 9 May 2019
Revised 30 June 2019
Sunway University, Bandar Sunway, Malaysia 14 October 2019
25 October 2019
Ahmad Khaliq 6 December 2019
Accepted 4 January 2020
International Islamic University Malaysia, Selangor, Malaysia
Abdollah Ah Mand
Sunway University, Bandar Sunway, Malaysia
Hafezali Iqbal Hussain
Taylor’s University Business School, Taylor’s University, Subang Jaya, Malaysia
and University of Economics and Human Sciences, Warsaw, Poland
Mohamed Asmy Bin Mohd Thas Thaker
International Islamic University Malaysia, Selangor, Malaysia, and
Anwar Bin Allah Pitchay
School of Management, Universiti Sains Malaysia, Minden Penang, Malaysia

Abstract
Purpose – This paper aims to attempt to investigate and test the factors related to social media
advertisement that could forecast the intention to subscribe to Islamic banking products in Malaysia.
Design/methodology/approach – The research framework used in this study is guided by the
Unified Theory of Acceptance and Use of Technology (UTAUT). The questionnaire method was used to
collect data from 360 social media users and partial least square (PLS) analysis was carried out for the
model’s validation.
Findings – The analytical results showed that perceived relevance, informativeness and perceived
expectancy were found to have a statistical relationship with the purchase intention of Islamic banking
products via a social media platform.
Practical implications – The study offers a practical implication in which the findings prove as helpful
means for Islamic financial institutions to discover paramount techniques to retain existing customers and at
the same time encourage potential new customers to subscribe to their products.
Originality/value – Deficiency of research focusing on social media marketing, especially the
incorporation of the UTAUT model was observed in the literature. Thus, this paper offers additional
literature on social media marketing and elucidates their role in Islamic banking industry, particularly
from the Malaysian context. This research is considered to be among the primary attempts to examine
the drivers of social media marketing and customers’ intention to subscribe to Islamic banking products
in Malaysia.
Journal of Islamic Marketing
Keywords Malaysia, Social media, Drivers, Islamic banking © Emerald Publishing Limited
1759-0833
Paper type Research paper DOI 10.1108/JIMA-05-2019-0095
JIMA 1. Introduction
The emergence and dynamic nature of social media as a crucial marketing channel have
presented a number of advantages and even challenges for marketers. From creating an
agency–client relationship issue to the benefit of its use as an analytical tool, social media
has become imperative in the debate to foster continuous product awareness to the fresh and
present customers.
Social media usage has clearly affected the marketing approach for companies to
promote their product and services virtually, away from the traditional method (Mitic and
Kapoulas, 2012). Various techniques and creative means are dedicated to use social media as
an apparatus to market products and services. Iankova et al. (2018) assert that social media
use is distinct among diverse business model approaches. A number of techniques and
marketing strategies are customized and clustered in accordance with the business nature,
including the B2B, B2C, Mixed or B2B2C business model approach. Huge investments are
dedicated by corporate entities in social media platforms to market and promote their goods
and services. According to Lee and Youn (2009), business entities appreciate the need to
participate in current trends and its conversation to protect their brand reputation.
Moreover, they wish to create a form of communication for sales promotions with existing
customers (Schultz and Peltier, 2013), aside from increasing customer engagement
(Gummerus et al., 2012) and eventually overall consumption (Tsimonis and Dimitriadis,
2014).
The importance of social media undeniably significant in assisting customers to obtain
enough information with regard to their preferred products. Those who are socially
connected via social media/other electronic platforms called “Netizen” are the ones who
actively engaged in online platforms. Most of the firms are taking advantage in the market
their products via social media due to its easiness, lower costs, effective and able to
communicate with their customers in their preferred channel. In addition, the emergence of
social media and other electronic platforms also reduces the reliance on the middle person
for a marketing purpose. The impact of social media also affecting the marketing side of
banking operations as well. Mostly, banks use social media to promote their current and
upcoming financial products, to update current changes in regulations pertaining to
financial products, managing customers’ complaints and suggestions. The banking and
financial institutions are known for their vast economic sector which holds mostly financial
assets and they massively invest those assets in creating grander wealth. Banks are also
commonly inclined to possess a substantial number of consumers within a nation (Johns and
Perrott, 2008).
In Malaysia specifically, the total asset reported by the Central Bank of Malaysia
amounted to RM 2.586tn in 2018 (Central Bank of Malaysia, 2018). Tiago and Veríssimo
(2014) affirm that the creation of linkages through digital marketing is necessary. Thus, it is
necessary for banking and financial institutions to develop the interest to initiate active
engagement on social media with consumers as only then would they be able to positively
affect and improve their endeavors, be it to recover credits, acquire higher deposits and
attain optimal efficiency in fund management. The literature has shown a highly limited
number of studies that investigate social media marketing practice, particularly for Islamic
banks in Malaysia. Likewise, a majority of related researches attend more on the customers
compared to the institutions themselves (Tiago and Veríssimo, 2014). Thus, it would be still
fascinating to move literature ahead by studying the impact of social media marketing by
considering Islamic banks. Therefore, the present study aims to investigate and test the
factors related to social media marketing by measuring to forecast customers’ intention to
subscribe to Islamic banking products in Malaysia. Intention to subscribe here is defined as
customers’ choose to use Islamic banking products which are promoted in the social media Drivers of
by Islamic banks. In addition, this study offers theoretical and managerial implications as social media
references for the advancement of social media marketing by Islamic banks in Malaysia.
Whereas studies have focused on the virtual marketing platform, less attention has been
marketing
paid to its use in the Islamic banking market. Essentially, this research aids to broaden our
comprehension of the factor of social media influence on user intention in subscribing to
Islamic banking products and services.

2. Literature review
2.1 Social media marketing
The literature supports the influence of social media as a marketing gear which enhances
business endeavors, new opportunities, and yields (Hajli et al., 2017; Laroche et al., 2013).
Goh et al. (2013) assert that the user-generated contents in social media have a greater
impact than a firm’s own creation. Moreover, Simon and Tossan (2018) contend that
consumers tend to appreciate the business further than expressing their brand satisfaction
through virtual media engagement.
Scholars have attempted diverse approaches to contribute a concrete foundation for
institutions that embrace social media. This includes delineation and categorization of social
media apparatus such as blogs, social networks, media sharing content and even voting
sites (Boyd and Ellison, 2008). Iankova et al. (2018) made a comparison between social media
marketing for the B2B, B2C and mixed business model. Based on 449 responses to an
exploratory panel using survey instrument, the study affirms the distinct approaches of
social media use among the different business models. Specifically, the B2B organizational
member perceives that the social media apparatus possesses a less important relationship-
oriented usage than the other models.
In addition, social media marketing has also been found to construct brand awareness,
visibility, reputation, knowledge sharing, low-cost promotion and new product development
(Kaplan and Haenlein, 2010). It also forms as a mechanism used by banks to regain
consumer confidence and trust following an economic crisis (Bonson and Flores, 2011;
Gritten, 2011). Nevertheless, Schultz and Peltier (2013) claim that the vast majority of social
media efforts have been unsuccessful and many seem to merely promote sale activities that
cater for existing customers. Although customer engagement with banks through social
media marketing has been explored from a number of elements, the most communal include
perceived relevance (Alalwan, 2018), interactivity (Murphy and Sashi, 2018),
informativeness (Martins, 2018), hedonic motivation (Yahia et al., 2018) and perceived
expectancy (Hansen et al., 2018). There is, therefore, a need to investigate the drivers of
social media marketing in Malaysian Islamic banks using these dimensions.

2.2 The unified theory of acceptance and use of technology

Studies on information technology acceptance have brought forth voluminous competing
models specified in the diverse set of acceptance elements (Thaker et al., 2019; Suki and
Ramayah, 2010; Ramayah and Jantan, 2004). The research framework used in this study is
guided by the Unified Theory of Acceptance and Use of Technology (UTAUT). This model
provides a handy tool to measure the prospect of success for new technology introduction
and helps to understand the drivers of acceptance, thus proactive interventions, such
training and marketing strategies, could be craft accordingly.
The unified theory (UTAUT) proposed by Venkatesh et al. (2003) formulates a unified
model that integrates the elements across eight models, namely, the theory of reasoned
action, the technology acceptance model (TAM), the motivational model, the theory of
JIMA planned behavior (TPB), a model combining the TAM and TPB, a model of personal
computer (PC) utilization, the innovation diffusion theory and the social cognitive theory.
Apparently, the integration of UTAUT outperforms the rest eight of the models. Thus, this
theory is opted in realizing the determinants of social media marketing, specifically for the
Shariah compliance banking sector.
In validating the relationship suggested by Venkatesh et al. (2003), this research provides
support for the validity of this model and further discovers the relationship between the
drivers of perceived relevance, interactivity, informativeness, hedonic motivation and
perceived expectancy with purchasing intention through social media.

2.3 Islamic marketing based on marketing 4A framework and Islamic banks

Marketing 4 A framework focuses on the availability, accessibility, acceptability and
adaptability of products or services. Marketing strategies with regard to Islamic banks have
been investigated by Kamarulzaman and Madun (2013). Taking a cue from Kotler (2003), the
authors contend that the concept of exchange leads to the concept of market. A market
consists of all potential customers sharing a particular need or want who may be willing and
able to engage in exchange to satisfy that need or want. Therefore, with the establishment of
Islamic banks, the market for Islamic banks is made available. Hence, the concept of 4A for
marketing will be applied to Islamic banks as illustrated in Table I.
As mentioned by Kamarulzaman and Madun (2013), the 4A framework for Islamic banking
is a useful tool for marketing strategies and successful marketing plans. The availability of
products offered by Islamic banks to their clients is dependent on their easy access and status
as an established entity. Particularly, there is freedom to establish Islamic banking products
which increases the products’ availability for those who wish to subscribe. In the marketing
perspective, Islamic banks are considered accessible if they offer free consultations on their
products and recognize foreign clients. In terms of acceptability, the banks should follow
Islamic rules and regulations. Therefore, they must have minimum standards and disciplines,
and at the same time respect the diverse cultures and values for their offered products. Finally,
the adaptability factor is concerned with the acceptance of diverse religions and the acceptance
of international clients toward the practice and values of Islamic banks.

2.4 Conceptual framework development

2.4.1 Perceived relevance. Previous works have revealed that brand value is connected to
marketing strategies (Steenkamp et al., 2003; Kim et al., 2011; Raggio and Leone, 2009).

4A framework Islamic banks

Availability Establishment/closure of Islamic banks

Freedom to establish
Accessibility Free-of-charge consultations on Islamic banking products
Recognition of foreign clients
Acceptability Minimum standards
Respect for diversity
Discipline
Adaptability Clients from other religions
International clients
Table I. Notes: 4A framework is been adopted from Sheth and Sisodia (2012). The 4A’s of Marketing: Creating
4 A Marketing Value for Customers, Companies and Society. London, UK: Routledge. However, the 4A marketing for
framework Islamic banks has been adapted from Kamarulzaman and Madun (2013)
While perceived relevance has no specific formal delineation, this study posits that it is Drivers of
closely defined as an effort to learn experiences that are directly applicable to the individual social media
aspiration, interest or culture. Evidently, this is seen as a mechanism dealing with deeper
relations that consumers make on social media which would impact the banking
marketing
institutions.
In accordance with the subjective view, it is consistent with the finding of Alalwan’s
(2018) study which revealed a significant impact of perceived relevance on purchase
intention. Similarly, Bento et al. (2017) empirical exploration of the tension between
shareholder maximizing value and corporate social responsibility discovered that perceived
relevance positively influenced the evaluation of stakeholder view. Chikandiwa et al. (2013)
explored the adoption of social media marketing in South African banks. They found that
despite their infancy stage, Facebook and Twitter were the main tools used to reactive
customer services and advertising. There was a unanimous agreement on the need to
integrate social media with traditional media. Falk et al. (2007) observed that customers’ use
of offline investment banking negatively affected bank productivity. Consistently, Chang
et al. (2015) supported the role of usefulness and relevancy as similar to expectancy
performance on customer intention and preferences. Further evidence by Lin and Kim (2016)
support the role of perceived relevancy on both customer attitudes toward behavioral
intention for subscription of any products.
2.4.2 Interactivity. In the context of this study, interactivity is defined as the banks’
response or relationship with the customers’ purchase intention through social media.
Murphy and Sashi (2018) elucidate that interactivity use in digital communication has a
positive relational outcome to satisfaction. Previous researches on interactivity have mostly
shown its positive influence on commitment (Kang et al., 2007; Kim et al., 2008) and loyalty
(Kim et al., 2008). In addition, Morgulis et al. (2012) have proven that interactivity
significantly contributes to the impact level. Furthermore, Wise and Thorson (2006) have
made explicit that response rate and interactivity positively affect the intention to
participate. However, according to Liu and Shrum (2002), interactivity is a complex
component when it comes to online – marketing. For example, in the study by Wu (1999)
revealed that interactivity positively influence users’ attitude on product subscription.
However, this outcome objected by Coyle and Thorson (2001) where authors claimed there
was no such relationship between interactivity and intention to purchase products. Thus, it
would be good to analyze in the context of Islamic banking marketing via social media on
the role of interactivity since there is existence of ambiguous findings in the existing
literature.
2.4.3 Informativeness. The informative element in this study is concerned with the
consumers’ need for further information in making a decision to pursue purchase intention.
Rotzoll and Haefner (1990) articulated this element as the measurement of a firm that
provides adequate information based on which consumers can result in better purchase
decisions. Alalwan’s (2018) investigation on the impact of social media advertising on
purchase intention has principally supported the model with informativeness construct. In
fact, Taylor et al. (2011) along with Lee and Hong (2016) have shown a positive relationship
between informativeness and customer attitude toward purchase intention. Kim and Niehm
(2009) demonstrated a strong relationship between information quality and customers’
e-loyalty intention. An empirical investigation by Martins (2018) confirms that
informativeness is a good predictor of customer loyalty. Resnik and Stern (1977) argued that
highly informative webpage marketing will enable customers to make wise decision-making
process when buying products. Customers find advertisements are valuable if information
is available more than enough (Andrews, 1989; Taylor et al., 2011). From the electronic
JIMA commerce website perspectives, Gao and Koufaris (2006) mentioned that informativeness
plays a significant role in influencing customers’ behaviors.
2.4.4 Hedonic motivation. Hedonic motivation is fundamental to human experience and
behavior (Kaczmarek, 2017). It is briefly defined as the willingness to initiate behavior that
enhances the positive and decreases the negative experiences (Gray, 1981). The result of
hedonic pursuit leads to individuals enriching their subjective wellbeing as well as initiate
and maintain useful behavior (Kaczmarek, 2017). On the contrary, the lasting capabilities of
this behavior can be troublesome depending on the adaptive behavior.
The work of Yahia et al. (2018) suggests that hedonic motivation increases social
commerce intent. Azar (2016), on the other hand, identifies core motivation constructs that
may influence consumers’ interaction with a brand on social media. Active participants of
online communities have previously explicated the significance of enjoyment (Yu et al.,
2010), positive self-worth (Chiu et al., 2011) and self-efficacy (Antikainen et al., 2010) on
motivation. In addition, the role of hedonic motivation in banking and electronic platform
have appeared in several studies (Curran and Meuter, 2007; Dodds et al., 1991; Alalwan et al.,
2017).
2.4.5 Perceived expectancy. Individuals will adopt, involve and engage more in a new
system that is more productive and can execute activities efficiently, saving time and effort
(Dwivedi et al., 2017; Venkatesh et al., 2012). According to Hansen et al. (2018), the perceived
ease of Technology Acceptance Model use significantly amplifies the effect of perceived
behavioral control from the Theory of Planned Behavior on the intention to use social media
for business dealings. This indicates that expectancy has a relation with purchase intention.
Chang et al. (2015) support the role of usefulness as similar to expectancy performance on
customers’ intention and preferences. Similarly, Lin and Kim (2016) back the role of
perceived usefulness on customers’ attitude toward purchase intention.

3. Methodology
3.1 Research framework
Based on the literature review, the potential variables were identified and taken into
consideration in building the research framework. Figure 1 depicts the model of the
framework developed for this research. It elucidates the investigation on the purchasing
intention of Islamic banking products via social media which is influenced by selected
factors as depicted in the literature. In this regard, this study exemplifies the study of Abbas
et al. (2018). The study investigated the importance of internal marketing in Islamic banks
based on certain criteria and the effect of internal marketing on employee commitment
across Islamic banks in Punjab, Pakistan. Five independent variables were recognized as

Perceived relevance

Interactivity

Purchasing intention
Informativeness
via social media

Hedonic motivation
Figure 1.
Research framework Perceived expectancy
influencers. The variables are perceived relevance, interactivity, informativeness, hedonic Drivers of
motivation and perceived expectancy. social media
marketing
3.2 Measurement
Computation of nominal scale based on Amin’s (2008) method was used for the demographic
analysis. This nominal scale was used to obtain a range of values for the age of the
respondents and many more. The choice of answers was based on a five-point Likert scale
adapted from Bhatti (2007) and Amin (2008), ranking as 1 (strongly disagree), 2 (disagree), 3
(neutral), 4 (agree) and 5 (strongly agree). Through the Likert scale, the respondents may
select a choice of response reflecting their position toward the statement. The used
constructs and items were primarily extracted from the existing literature.

3.3 Data collection and sampling procedures

In this research, data was collected via online survey and manual distribution of the
questionnaire. Questionnaires were distributed to Islamic banking clients who have
subscribed to the banks’ products and services via social media. The sampling design used
to select the respondents was based on judgmental sampling. Only those with an existing
social media account such as Facebook, Twitter and Instagram were selected. These are
most popular social media platforms used in Malaysia (Globalstats.com, 2019). Most of
the respondents were located in the Kuala Lumpur Federal Territory and Selangor. Out of
the 380 questionnaires distributed, only 360 were used and analyzed. 20 questionnaires were
excluded due to incomplete answers and failure to return the survey. The questionnaire
includes two sections, namely, demographic profiles of the respondents and factors
influencing the customer to subscribe to an Islamic banking product via social media. The
demographic profiles sought were gender, age, marital status, education, occupation,
monthly income level and religion. Purchase intention, on the other hand, was measured by
the five factors as mentioned in the research framework.

3.4 Analytical method and data analysis

Data obtained were analyzed via IBM SPSS statistics version 23.0 and Smart PLS version
3.2.7. The PLS was used due to its ability to depict the relationship among all latent
constructs simultaneously while dealing with the measurement errors in the structural
model (Farooq and Markovic, 2016). As this study is explanatory in nature, PLS was thus
found to fit the purpose of the research. This is in line with Hair et al.’s (2017) suggestion in
which the measurement models are investigated separately prior to the evaluation of the
structural model. SmartPLS is a software based on structural equation modelling (SEM)
which uses the PLS method. SEM is a second-generation multivariate data analysis method
that is most commonly used for researches in areas of social sciences as it can test
theoretically supported linear and additive causal models (Haenlin and Kaplan, 2004).
There are various approaches to SEM, of which, one of them is PLS which focuses
mainly on the analysis of variances. In general, PLS is a soft modelling approach to SEM
with no assumptions on the details of the data distribution (Vinzi et al., 2010). This indirectly
makes it one of the best options when facing multiple conditions to be discussed (Hwang
and Tsai, 2011). PLS is a prediction-oriented tool which concentrates on variances and
always assumes the predictors’ assumption as non-parametric. PLS is regarded as a reliable
method when the sample size that is obtained is relatively small or bigger (Hair et al., 2011;
Majchrzak et al., 2005). As far as sample size is concerned, power analysis based in the
portion of the model with the largest number of predictors. The minimum recommendation
for the number of observations range from 30 to 100 cases (Ramayah et al., 2016). The
JIMA estimation of parameters is consistent as the sample size increases which ensures
consistency in data presentation. It provides the best predictive accuracy as it accounts for
large complexity. PLS is also useful when the application has very little theory available.
When the correct model specification cannot be ensured, PLS would be a better option. PLS
also makes fewer assumptions when it relates to data distribution and this flexibility allows
both formative and reflective constructs in one model itself.
Prior to running the measurement model, the study ensured for the non-existence of the
common method bias. Basically, this evaluation confirms that the variances are represented
in the measurement method rather than the construct itself. To do this, Harman’s (1976) one-
factor test and Podsakoff’s (2003) guidelines were observed. All items in the measurement
scale were entered into a principal component analysis with the varimax rotation so that any
signs of a single factor could be identified from the factor analysis. The finding revealed that
the first factor accounted for 41.50 per cent variance. This value is consistent with the rule of
thumb which is less than 50 per cent (Podsakoff, 2003).

3.5 Hypotheses development

To meet the research objective, the following hypotheses were formulated based on the 4 A
framework (Prahalad, 2009):

H1. Perceived relevance has a significant relationship with the purchase intention of
Islamic banking product via social media.
H2. Interactivity has a significant relationship with the purchase intention of Islamic
banking product via social media.
H3. Informativeness has a significant relationship with the purchase intention of
Islamic banking product via social media.
H4. Hedonic motivation has a significant relationship with the purchase intention of
Islamic banking product via social media.
H5. Perceived expectancy has a significant relationship with the purchase intention of
Islamic banking product via social media.

4. Discussion of results
4.1 Demographic profiles
Table II summarizes the characteristics of the respondents involved in this survey. As
shown in the table, 48.60 per cent of the sample respondents were male and 51.40 per cent
were female. In terms of age distribution, the dominant group was between 20 and 30 years
old. This percentage is consistent with prior studies which recommended the vitality of this
age group. For instance, Metawa and Almossawi (1998) contended that exploring the
perception of people and customers within the age of 20 to 50 would yield more impact on
policies. As such, this sample respondent may contribute a useful picture on the analysis of
factor contributing to the purchase intention of Islamic banking product via social media.
Today, it is common that most of the users of social media are youngsters. In terms of
marital status, the majority (i.e. 52.2 per cent) were single whilse47.8 per cent were married.
The majority of the respondents were those with a bachelor degree and involved in the
public sector (59.7 per cent). The rest were either self-employed (21.4 per cent) or private
sector employees (18.9 per cent). In terms of income level, the dominant group was those
with earnings of RM1,000 to RM3,000, followed by those earning between RM3,000 to
Variables N (%)
Drivers of
social media
Gender marketing
Male 175 48.6
Female 185 51.4
Age
20-30 years 182 50.6
31-40 years 45 12.5
41-50 years 64 17.8
>50 years 69 19.2
Marital status
Single 188 52.2
Married 172 47.8
Education
Secondary (SPM)/ Diploma) 116 32.2
Bachelor 188 52.2
Postgraduate (Master/PhD) 56 15.6
Occupation
Public sector 215 59.7
Private sector 68 18.9
Self-employed 77 21.4
Monthly income
RM1000-RM3000 180 50.0
RM3,001-RM5000 114 31.7
>RM5000 66 18.3
Religion
Islam 182 50.6
Christian 45 12.5
Buddhist 64 17.8
Hindu 69 19.2

Notes: This table shows the information related to respondents’ profiles in five aspects, i.e. gender, age, marital Table II.
status, education, occupation, monthly income level and religion. The number of respondents is n = 360 Demographic profiles

RM5,000. As for religion, the leading were Muslims, followed by Hindus, Buddhists and
Christians.

4.2 Assessment of measurement model

In the initial stage of the study, convergent validity test was carried out. In this
investigation, items’ loadings, average variance extracted (AVE) and composite reliability
(CR) were critically analysed. The results are shown in Table III. With reference to the
mentioned table, items’ loadings were more than 0.6, which fulfilled the value recommended
by Hair et al. (2017). As for the AVE threshold, the AVE should exceed 0.5 (Hair et al., 2009).
In this study, the AVEs were in the range of 0.557 and 0.756, thus were acceptable.
Furthermore, the CR value ranged from 0.769 to 0.880, again consistent with the value
suggested by Hair et al. (2009).
Once the test for convergent validity was finalized, the next process was to check
for discriminant validity. As evident in the literature, this test had been used by
JIMA Construct Items Loadings AVE CR

Perceived relevance (PR) PR2 0.768 0.591 0.812

PR3 0.812
PR5 0.723
Interactivity (INT) INT3 0.901 0.756 0.861
INT5 0.837
Informativeness (INF) INF2 0.709 0.557 0.834
INF3 0.802
INF4 0.714
INF5 0.755
Hedonic motivation (HM) HM3 0.767 0.526 0.769
HM4 0.707
HM5 0.701
Perceived expectancy (PE) PE3 0.923 0.666 0.796
PE4 0.692
Purchase intention (PI) PI1 0.797 0.596 0.880
PI2 0.779
PI3 0.804
PI4 0.756
PI5 0.720
Table III. Notes: This table shows the measurement model test which was carried out in the initial stage. Most of the
Results of values are consistent with the rule of thumb as suggested by Hair et al. (2009). The measurement tests for
measurement model items’ loadings, average variance extracted (AVE) and composite reliability (CR) accordingly

Fornell and Larcker (1981). Nevertheless, many have criticised the Fornell–Larcker
criterion by arguing that it is not justifiable to detect the lack of discriminant validity
in general research scopes (Henseler et al., 2015). Although it is not recommended, this
study uses the Fornell–Larcker analysis for discriminant validity for reference
purpose. As revealed in Table IV, all constructs exhibit sufficient or satisfactory
discriminant validity (Fornell and Larcker, 1981), in which the square root of AVE
(diagonal) is larger than the correlations (off-diagonal) for all reflective constructs.
Alternatively, Henseler et al. (2015) recommend an alternate approach to check for
discriminant validity termed the Heterotrait-Monotrait (HTMT) ratio of correlations. In
addition, they also show the power of HTMT by means of a Monte Carlo simulation study.
Given such a robust power technique, the current study also tested for discriminant validity
by using the same method. The rule of thumb of the HTMT test is if the HTMT value is
greater than the HTMT0.85 value of 0.85 (Kline, 2011), or the HTMT0.90 value of 0.90

HM INF INT PE PI PR

HM 0.726
INF 0.414 0.746
INT 0.461 0.408 0.869
PE 0.254 0.274 0.442 0.816
PI 0.335 0.408 0.375 0.461 0.772
Table IV.
PR 0.510 0.422 0.518 0.380 0.518 0.769
Discriminant validity
using Fornell and Notes: This table reports findings of the discriminant analysis using the Fornell and Lacker criterion.
Lacker criterion Diagonals represent the square root of the AVE while the off-diagonals represent the correlations
(Gold et al., 2001), then there is the problematic existence of discriminant validity. The result Drivers of
of the HTMT test is shown in Table V and the values passed the HTMT0.85 and HTMT0.90 social media
requirements (Kline, 2011; Gold et al., 2001). Therefore, it indicates that the measurement marketing
model possesses adequate validity and discriminant validity.

4.3 Assessment of structural model

As suggested by Ramayah et al. (2016), the R2 value measures the goodness of the structural
model. Similarly, Hair et al. (2011) posit that the coefficient of determination and the level of
significance of the path coefficients (beta values) can be measured by the R2. The R2 for the
generated results was 0.40, suggesting that 40 per cent of the variance of purchase intention
of Islamic banking product (PI) could be explained by perceived relevance, interactivity,
informativeness, hedonic motivation and perceived expectancy. In further statistical
significance assessment, the current study calculated for path coefficients of the structural
model and performed the bootstrap analysis. According to the results, as shown in Table VI,
perceived relevance, informativeness and perceived expectancy were found to have a
statistical relationship with the purchase intention of Islamic banking product via a social
media platform. Perceived relevance, informativeness and perceived expectancy had
positive association with purchase intention and the beta values of b = 0.321, b = 0.186 and
b = 0.284. Two variables were found to have an insignificant relationship with purchase
intention which were interactivity and hedonic motivation. Thus, H1, H3 and H5 are
supported. The validated model is shown at Figure 2 (software output).

HM INF INT PE PI PR

HM
INF 0.647
INT 0.741 0.577
PE 0.447 0.399 0.74
PI 0.482 0.516 0.486 0.646
PR 0.838 0.601 0.765 0.624 0.694

Notes: This table shows the result of the Heterotrait–Monotrait (HTMT) test. This test is used mainly to
determine whether there is discriminant validity in the model. The rule of thumb for this test is based on Table V.
Kline (2011) and Gold et al. (2001) HTMT criterion

Hypothesis R/ship Std. Beta Std. error t-value Decision

H1 PR ! PI 0.321 0.056 5.771*** Supported

H2 INT ! PI 0.004 0.055 0.065 Not supported
H3 INF ! PI 0.186 0.055 3.375** Supported
H4 HM !! PI 0.024 0.056 0.424 Not supported
H5 PE ! PI 0.284 0.043 6.527*** Supported

Notes: This table shows the results of the structural model using partial least square (PLS) version 3. The Table VI.
R-square value is 0.400 and the sample size is 360. The signs *, **, *** denote significance at 10, 5 and 1%, Results of structural
respectively model
JIMA

Figure 2.
Validated model

4.4 Importance-Performance map analysis

According to Ringle and Sarstedt (2016), the objective of Importance-Performance Map
Analysis is to observe which factors have a low performance, but high importance for the
target constructs. The Importance-Performance Map Analysis is a robust and useful
analysis in PLS-SEM, which further extends the standard path coefficient estimates in a
more practical way. In this research, the purchase intention via social media toward Islamic
banking products is predicted by five predecessors (i.e. perceived relevance, interactivity,
informativeness, hedonic motivation and perceived expectancy). The analysis was
performed and the result is shown in Figure 3.
Based on Figure 3, none of the variables falls under the categories of low priority and
possible overkill. The Importance-Performance Map Analysis of purchase intention of
Islamic banking products via social media in Malaysia suggests that Islamic banks should
maintain their performance on perceived relevance and perceived expectancy in advertising
their products on social media. On the other hand, Islamic banks should improve on
interactivity, informativeness and hedonic motivation to market their products. Based on
the Importance-Performance Map Analysis statistics, it is very clear that necessary action
should be taken by Islamic banks to increase the interactivity, informativeness and hedonic
motivation of their product marketing via social media to grab more customers. Importance
wise, the values recorded are low. However, in terms of the performance index, the values
are good. Islamic banks simply need to further establish their position by improving their
marketing and promotion strategies on social media. A complete list of the Importance-
Performance Map Analysis values is provided in Table VII.
 Drivers of
social media
marketing

Figure 3.
Importance-
Performance map
analysis

Construct Importance (total effect) Performance (index values)

PR 0.365 55.788
INT 0.004 60.821
INF 0.212 62.945
HM 0.031 57.7
Table VII.
PE 0.327 61.954
Importance-
Notes: This table shows the values of Importance-Performance map analysis statistics. It is divided into Performance map
two parts, namely, Importance and Performance, and generated by SmartPLS 3 software analysis statistics

5. Discussions of findings
5.1 Discussions
The results show that perceived relevance, informativeness and perceived expectancy have
a statistical relationship with the purchase intention of Islamic banking products via a social
media platform. Perceived relevance was found to have a positive relationship with a beta
value of b = 0.321. The literature considers perceived relevance as one of the important
variables in producing a positive impact and greater outcome. It gauges consumer interest
in the product and subsequently increases consumer interaction with the advertisement
(Pavlou and Stewart, 2000). In the context of social media, consumers’ perceived relevance of
social media is the extent to which consumers perceive social media message or
advertisement to be self-related or useful in obtaining their objective online.
With the advancement of technology, social media is becoming one of the habitual needs
in human life. Consumers believe that they can obtain most information through social
media. This can assist the consumer to achieve financial and management objectives. The
consumer may find social media to be an absolutely relevant, reliable source. It further
provides easiness to obtain information about any new product launches including banking
products. Most Islamic banks in Malaysia make use of social media as a platform to
JIMA communicate information on their financial products. According to Rodgers and Thorson
(2000), perceived relevance is most likely to generate positive favorable purchase intention
as it can increase consumer interactivity in terms of consumers’ attention, attitude and
behavioral responses to the advertisement posted in the social media. Campbell and Wright
(2008) detect that consistency in repetitive online shopping is significantly influenced by the
higher level of perceived relevance by the consumer. The finding of the present study is also
consistent with the study done by Kim and Niehm (2009) which investigated customer
response toward online behavioral advertising by focusing on perceived advertisement
relevance and privacy. The findings of their investigation revealed that perceived relevance
was not strongly and significantly related to consumer response to an online behavioral
advertisement, and that privacy had a negative association.
The variable of informativeness was found to be positively significant ( b = 0.186) to the
intention to subscribe to Islamic banking products via social media. Consumers are
increasingly looking at social media platforms as an important source of information for
different kinds of products and services. Further, an adequate level of both customer-
generated content and organization-generated content is available over social media ads due
to high interactivity existing in social media. This makes social media ads a richer
information source than any other traditional media tools (Rathore et al., 2016; Taylor et al.,
2011).
Furthermore, social media ads can provide customers with more timely, comprehensive
and up-to-date information in a more convenient way from the customer’s perspective
(Logan et al., 2012; Taylor et al., 2011). Accordingly, customers are able to save time and
effort in the information research process (Logan et al., 2012). Furthermore, various studies
such as Ducoffe (1996), Jung et al. (2016), Lee and Hong (2016), Pavlou et al. (2007) and
Rathore et al. (2016) have agreed that the role of informativeness is significant in influencing
customers to buy or subscribe to various products via electronic platforms such as social
media and other electronic ones. This view is also consistent with the study done by
Roumieh and Garg (2014) with regard to e-marketing and its impact on Islamic banking
products’ performance.
The next significant factor is perceived expectancy, and the relationship is positive with
the intention to purchase an Islamic banking product via social media. The beta value is
b = 0.284. In Malaysia, it is common for banks (conventional and Islamic) to use social
media to market their products. The response has been positive and encouraging, evident
from the comments appearing in the comment box on Facebook for instance. This means
that customers who find social media advertising beneficial and advantageous are likely to
purchase a product via social media. The level of disclosure about the banking products and
the interaction level positively spur the customers’ confidence and perception of usefulness
related to the products and the ads. The current literature postulates that customers find
social media advertisement and marketing appropriate with their current preferences and
requirements; thus, it demonstrates the positive diposition of the customers to buy the
product via social media (Chang et al., 2015; Shareef et al., 2017).
Two factors were found insignificant, which were interactivity and hedonic motivation.
Interactivity was found to have a negatively insignificant ( b = 0.004) relationship with
the intention to purchase Islamic banking products. This is probably due to the fact that
many customers find that the level of interaction in social media less effective as some of the
responses are not entertained properly. Getting a response for an inquiry about an Islamic
banking product on social media may take some time, and some of the feedbacks obtained
may not be encouraging or helpful. This may cause the bank to lose its customer to another
competitor, which may explain for this factor’s negative association with the intention to Drivers of
subscribe. social media
Moreover, the element of trust is also important in this context as there have been many
cases in which customers were cheated when dealing with online trading involving social
marketing
media. This presents a negative impression of social media business and advertising. Müller
and Chandon (2004) argue that interactivity positively increases customers’ perception
about products and their emotional connection with the brand. This is subject to how well
the customers trust the brand and product. Additionally, hedonic motivation was also
shown to insignificantly relate to the intention to purchase Islamic banking products ( b =
0.024). Hedonic motivation deals with emotional responses, pleasures, daydreams and
esthetic consideration (Hirschman and Holbrook, 1982). It can also be linked to the search for
happiness, fantasy, sensuality and awakening. This may not be applicable to the context of
Islamic banking as customers tend to look for a product and not for pleasure, thus justifying
why this factor is insignificant and less reliable.

6. Implications
6.1 Theoretical implications
This research has served to widen our comprehension of the influencing factors for social
media users’ intention to subscribe to Islamic banking products. This study is expected to
enrich available literature in the area, where limited research pertaining to the subject is
obtainable, especially in Malaysia. The results generated are guided by UTAUT2 theoretical
framework. There are limited literature available using this framework and analysis of the
social media marketing in the context of Islamic banks. Some studies are available, but
unfortunately, the scopes are different areas. Most of the literature focus on the e-marketing
of conventional banks and other commercial products in Malaysia. Less attention has been
given to Islamic banking.

6.2 Managerial implications

The findings of this research will be very helpful for Islamic financial institutions to
determine the best ways to retain existing customers and to grab potential new customers to
subscribe to Islamic banking products. This is in line with the findings highlighted, in which
perceived relevance, informativeness and perceived expectancy were found to have a
significant relationship with the intention to subscribe to Islamic banking products via
social media. To further motivate customers’ subscription toward Islamic banking products,
Islamic banks in Malaysia need to use social media marketing to the maximum level to
encourage more subscriptions.
The focus should be on the forms of perceived relevance, informativeness and perceived
expectancy. To enhance perceived relevance among customers Islamic banking system
should focus on traditional marketing tools such as TV programs and using Facebook and
Twitter. Additionally, in terms of informativeness, Islamic banking system may provide
Islamic literacy in their websites by having more information about their products and
supply more details on their products. Finally, from perceived expectancy, managers of
Islamic products may focus on the expectations of their customers by having more
concentrations on their behavioral characteristics and efficiency of their Islamic products to
promote Islamic products among customers. Today, most customers would want to
purchase a product in the easiest way possible, especially via an electronic platform. This
study therefore suggests and highly recommends for Islamic banks to move in this
direction.
JIMA 7. Conclusion
Advertising through social media has been tremendously popular recently and this manner
of publicizing further grabs the attention of both practitioners and academic researchers to
find the best way to enhance the marketing of certain products. With this motivation, this
study was conducted to accelerate further understanding of the factors influencing
customers’ intention to subscribe to Islamic banking products. Five important factors were
identified (i.e. perceived relevance, interactivity, informativeness, hedonic motivation and
perceived expectancy) as key predictors of subscription intention. The data was collected
via questionnaire which was distributed to 360 participants.
Later, the data was analyzed using the partial least square (PLS). The R-squared value of
0.40 revealed that the variance of purchase intention of Islamic banking product could be
explained by perceived relevance, interactivity, informativeness, hedonic motivation and
perceived expectancy. Out of five factors, perceived relevance, informativeness and
perceived expectancy were noticed to have a significant impact on customers’ purchasing
intention of Islamic banking products. The results have been described in the light of logical
explanation with support from the literature and the study also offers some implications
from theoretical and managerial perspectives. Future research may look at how customers’
behavior changes according to the content of advertisement on social media. Furthermore,
future research can also look at the demographic profiles of the respondents and how they
link to social media advertisement. To add, after-sales marketing via social media is also
another possible area of research.

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communities of practice”, Journal of Strategic Information Systems, Vol. 9 Nos 2/3, pp. 155-173.

Corresponding author
Hassanudin Mohd Thas Thaker can be contacted at: hassanudint@sunway.edu.my

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