Social Media Marketing and Word of Mouth on Product Purchase Intentions at Bibit FinTech Startup with the Mediation of Brand Awareness

Abstract

Aims: This study aims to find out whether marketing through social media and word of mouth can significantly influence brand awareness and purchase intention of mutual fund products at Bibit startup, because branding plays an important role in services since the stronger the brand, the higher the customer's trust in the invisible purchase. Design/Methodology: This study uses a survey research design method and a quantitative approach which used to ascertain causal relationships between variables, a causal research design is used in this study. The sampling method was carried out online through an online questionnaire which is distributed to respondents who are considered according to predetermined criteria. Bibit startup or PT. Bibit Tumbuh Bersama products were used in the research. Collection of respondents was place during October and November 2022. The source of data in this study is 200 respondents who are Instagram social media users and followers of Bibit’s Instagram account. The research was conducted to obtain significant conclusions using the data analysis model which was processed using the SEM AMOS 26 method. Results: Based on the results of the Sobel test used in this study to examine the relationship between variables mediated by brand awareness, it has shown a positive and significant value. One of the variables that influence consumers’ decision to make a purchase is awareness of the brand of a product. Conclusion: Concerns concerning the expansion of social media marketing must be monitored in order to strengthen a brand's visibility. Consumers who are aware of a brand's existence are more likely to make recurrent purchases as well as first-time purchases.