Social Media Monitoring and Customer Satisfaction in the Canadian Financial Service Sector

In the social media era, consumers express their thoughts and feelings about many products and services more openly and freely than before through online platforms and social media outlets. Social media monitoring provides capability for listening, tracking, and gathering relevant content across wide ranges of social media channels. This allows marketers to propose more suitable products and services, ameliorate customer service, and implement a unique and beneficial value proposition. This study aims to investigate how organizations within the Canadian financial service industry can effectively glean, analyze, and utilize targeted information from social media platforms to improve customer satisfaction. This article plans to fill the gap in the literature by focusing on qualitative and quantitative research methodologies, utilizing a questionnaire for selected companies and extracting and analyzing relevant data from X (formerly Twitter) in order to ameliorate competitive edge and customer satisfaction. This study investigates the applications of social media monitoring for businesses in the Canadian financial sector. The findings of this research study suggest that there is a connection between social media monitoring and customer satisfaction. The results of this research can be beneficial for organizations to better understand the importance of social media monitoring and actively monitor their social media platforms to enhance customer engagement and satisfaction. Moreover, decision makers could employ the research outcomes to monitor categories and factors that are associated with negative comments on social media outlets, and take actions promptly to diminish possible negative consequences.