Effect of e-marketing on the performance of financial service sectors

E-marketing (EM) has been promoted as the savior of the business world and a catalyst to twenty-first century performance in the global market place. Discussions normally centers on how EM can be used to improve the reach of formalized business and marketing approaches to a much wider customer base than ever before. It has been suggested that embracing technology can result in gaining competitive advantage and capitalization of the opportunities resulting from the globalization of business. Today, technology has advanced at a much faster rate than was previously imagined.EM implementation affects traditional marketing in two ways. First, it increases efficiency and effectiveness in traditional marketing functions. Second, the technology of EM transforms many marketing strategies. The transformation results in new business models that add customer value and/or increase company profitability.Thus, In the face of rapid expansion of electronic payment and transaction systems throughout the developed and the developing world, Ethiopia’s financial sector cannot remain an exception in expanding the use of the system.