DIGITAL MARKETING AND PERFORMANCE OF FINTECH FIRMS IN LAGOS STATE, NIGERIA
The rapid advancement of technology has significantly impacted economic changes, with Financial Technologies (Fintech) emerging as a critical element in financial market development. Despite their valuable contributions, Fintech firms in Nigeria are still in their early stages and have not fully reached their potential in accessing a large customer base, possibly due to a lack of awareness of their capabilities. This study examined the effect of digital marketing on the performance of Fintechfirms in Lagos State, Nigeria. The population of this study comprised of 260 of top level, middle level and lower-level management staff of the selected Fintech firms in Lagos State, Nigeria. Validated questionnaire was used for data collection with 260 copies distributed and 256 adequately returned. A pilot survey was done and the study obtained Cronbach’s Alpha reliability coefficients ranging from 0.738 to 0.897. Simple linear regression was used to analyze the data and the findings revealed that social media marketing has a significant positive effect on market share (β = 0.601, R2 = 0.401; F(4, 425) = 169.939; p < 0.05), search engine optimisation has a significant positive effect on profitability (β = 0.527, R2 = 0.430; F(4, 425) = 191.561; p < 0.05) and email marketing has a positive significant effect on productivity (β = 0.461, R2 = 0.406; F(4, 425) = 173.866; p < 0.05) of selected Fintech firms in Lagos Nigeria. The study recommended regular evaluation of digital marketing effectiveness, tracking KPIs, and making data-driven decisions to optimize strategies, while staying updated with digital marketing trends and emerging technologies.
Social media, Search engine optimization, Email marketing, Performance, Fintech.