Identifying Components and Indicators of Social Media Usage Among Bank Users Based on the Consequences Element of Means-End Chain Theory

Abstract

The present study aimed to validate the components and indicators of social media usage among bank users based on the consequences element of the Means–End Chain (MEC) theory (attributes, consequences, and values). The expansion of social media and the transformation of user behavior have compelled banks to utilize these platforms to establish effective interactions, enhance customer satisfaction, and create value for customers. Despite extensive research on technology adoption and social media usage, the components and indicators of the Means–End Chain theory have not yet been comprehensively developed within the context of banking users. In terms of purpose, this study is applied research, and in terms of methodology, it is a quantitative descriptive-survey study. The statistical population consisted of social media users of Bank Sepah across the four regions of Tehran Province. Using Cochran’s formula, a sample size of 384 participants was determined, and 362 valid questionnaires were ultimately collected and analyzed. Data were gathered through a researcher-developed questionnaire based on the dimensions of the Means–End Chain theory, consisting of 86 items measured on a five-point Likert scale. The validity of the instrument was confirmed through content validity, confirmatory factor analysis, and convergent and discriminant validity assessments. Reliability was also verified using Cronbach’s alpha and composite reliability coefficients. Data were analyzed using SPSS and SmartPLS software through Structural Equation Modeling (SEM). The findings indicated that the chain of “Attributes → Consequences → Values” was significant in explaining bank users’ social media usage behavior. The effect of perceived attributes on usage consequences was confirmed with a path coefficient of 0.532, while the effect of consequences on perceived values was confirmed with a path coefficient of 0.647. The most influential attributes included ease of access to services, up-to-date information, and information transparency. Furthermore, time savings, reduced need for in-person visits, and increased satisfaction with the bank were validated as the most important consequences of social media usage. At the value level, feelings of security, trust in the bank, and overall satisfaction with the experience were found to be the most important values for users. Therefore, banks can utilize the Means–End Chain framework to design more effective social media management strategies and foster sustainable customer relationships.