An Exploratory Study of Customers’ Experiences with their Financial Services’ Customer Education Programs as it Impacts Financial Firm Customer Loyalty

The internet has changed people's way of life, especially in dealing a transaction. Indonesian banking entered a new era since 2000 when banks in Indonesia began implementing electronic banking or e-banking systems. Integrating cellular communication technology and banking financial services is changing people's lifestyles to be more flexible in making it easier for users to access banking financial services without being hindered by time, place and space. The same integration also occurs in relationship marketing strategies and cellular communication technologies that make it easy for companies to be able to reach and provide the best service to their consumers. This study wants to reveal the relationship of interactivity and engagement which is an activity of Online Relationship Marketing at a bank to be able to understand consumers in order to create customer loyalty with online trust as mediation.Based on the above background, the problem in this study is "Does Online Relationship Marketing activities such as engagement and interactivity affect customer loyalty either through online trust as mediation or not?" Keywords: engagement, interactivity, online trust, customer loyalty, signaling theory

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Service journey quality: conceptualization, measurement and customer outcomes

Journal of Service Management ◽

10.1108/josm-06-2020-0233 ◽

2021 ◽

Vol 32 (6) ◽

pp. 1-27

Author(s):

Elina Jaakkola ◽

Harri Terho

Keyword(s):

Service Quality ◽

Service Delivery ◽

Customer Loyalty ◽

Financial Services ◽

Three Dimensions ◽

Service Research ◽

Research Approach ◽

Critical Determinant ◽

Content Type

PurposeThe quality of the customer journey has become a critical determinant of successful service delivery in contemporary business. Extant journey research focuses on the customer path to purchase, but pays less attention to the touchpoints related to service delivery and consumption that are key for understanding customer experiences in service-intensive contexts. The purpose of this study is to conceptualize service journey quality (SJQ), develop measures for the construct and study its key outcomes.Design/methodology/approachThe study uses a discovery-oriented research approach to conceptualize SJQ by synthesizing theory and field-based insights from customer focus group discussions. Next, using consumer survey data (N = 278) from the financial services context, the authors develop measures for the SJQ. Finally, based on an additional survey dataset (N = 239), the authors test the nomological validity and predictive relevance of the SJQ.FindingsSJQ comprises of three dimensions: (1) journey seamlessness, (2) journey personalization and (3) journey coherence. This study demonstrates that SJQ is a critical driver of service quality and customer loyalty in contemporary business. This study finds that the loyalty link is partially mediated through service quality, indicating that SJQ explains loyalty above and beyond service quality.Research limitations/implicationsSince service quality only partially mediates the link between service journey quality and customer loyalty, future studies should examine alternative mediators, such as customer experience, for a more comprehensive understanding of the performance effects.Practical implicationsThe study offers concrete tools for service managers who wish to understand and develop the quality of service journeys.Originality/valueThis study advances the service journey concept, demonstrates that the quality of the service journey is a critical driver of customer performance and provides rigorous journey constructs for future service research.

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Salesperson Customer Orientation as an Antecedent to Customer Loyalty: An Exploratory Study

SSRN Electronic Journal ◽

10.2139/ssrn.2567662 ◽

2015 ◽

Author(s):

Neha Bhardwaj ◽

Anupama Vohra

Keyword(s):

Customer Loyalty ◽

Exploratory Study ◽

Customer Orientation

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Measuring Customers Loyalty of Islamic Banking in Bahawalpur Region

International Journal of Learning and Development ◽

10.5296/ijld.v2i2.1593 ◽

2012 ◽

Vol 2 (2) ◽

pp. 101 ◽

Cited By ~ 2

Author(s):

M. Taimoor Hassan ◽

Bilal Ahmed ◽

Saleem Ahmed ◽

Umair Habib ◽

Saim Riaz ◽

...

Keyword(s):

Customer Loyalty ◽

Financial Services ◽

Islamic Banking ◽

Islamic Banks ◽

Banking Services ◽

Basic Purpose ◽

Customer's Loyalty ◽

Conducting Research ◽

Viable Model

Purpose: The basic purpose of measuring the customer’s loyalty in Islamic banking in Bahawalpur region is their long term commitment.Design/methodology/approach: This research has been conducted utilizing the actual data with the help of a questionnaire based on the literature extensively written on Islamic banking services, to develop a viable model to explore the attributes which lead towards the customer loyalty in utilizing the financial services of Islamic banks in Bahawalpur region. A new dimension is added by conducting research on customer’s loyalty in Islamic banking in Bahawalpur region, taking sample of 125 respondents from 20 banks operating in Islamic banking services of this region.Findings: Factors abstracted from the customers loyalty are, customers satisfaction, switching cost, customers perception, success philosophy and trust and commitment. It is found that these factors significantly affect the customer’s loyalty in Islamic banking and are greatly associated with the customer’s loyalty.Research limitations/ implication: Only available material is studied in spite of all the material and research is implicated in Bahawalpur region only. The sample size is small to only 125 respondents but the results are implicated on overall customer’s loyalty in Islamic banking.Practical implications: Pakistani banks are needed to take initiative in creating awareness about Islamic banking and providing more effective services.Originality/ value: This is one of the very first researches on customers loyalty in Islamic banking conducted in Bahawalpur region and could be very useful for countries adopting Islamic banking.Key words: Customers loyalty, Islamic banking.

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The Antecedents and Consequences of Customer Engagement: An Exploratory Study on the Mobile Business in Thailand

10.51240/jibe.2016.2.4 ◽

2016 ◽

Vol 17 (2) ◽

pp. 41-58

Author(s):

Theingi ◽

Suchira Phoorithewet ◽

Yunmei Wang ◽

Sikankaew Panthongprasert

Keyword(s):

Service Quality ◽

Customer Loyalty ◽

Exploratory Study ◽

Mobile Network ◽

Switching Behavior ◽

Customer Engagement ◽

Buying Behavior ◽

Mobile Business ◽

Antecedents And Consequences

This study explores the antecedents and consequences of customer engagement behaviors in the Thai mobile network business. This study found that the approach to switching behavior and cross-buying behavior is connected to customer loyalty behaviors. However, the spending behaviors of customers may not be a good indicator of customer loyalty in the mobile network business because those who do not have the intention to switch to another brand do not necessarily increase their spending. In addition, most respondents are concerned with competitive promotional packages, which influence customer engagement behaviors. Hence, it was proposed that service quality and competitive promotional packages are antecedents to customer engagement behaviors and all these factors are important in explaining customer loyalty toward mobile network providers in Thailand.

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USER COSTS, THE FINANCIAL FIRM, AND MONETARY AND REGULATORY POLICY

Macroeconomic Dynamics ◽

10.1017/s1365100518000871 ◽

2019 ◽

Vol 24 (6) ◽

pp. 1547-1573

Author(s):

Maksim Isakin ◽

Apostolos Serletis

Keyword(s):

Financial Services ◽

Deposit Insurance ◽

Banking Sector ◽

Financial Regulation ◽

Policy Instruments ◽

Commercial Banking ◽

User Cost ◽

Holding Costs ◽

User Costs ◽

Financial Firm

We investigate how key monetary policy instruments and financial regulation affect the banking firm. We take the user-cost approach to the construction of prices for financial services and use quarterly data on the U.S. commercial banking sector, over the period from 1992 to 2016, obtained from the Federal Deposit Insurance Corporation. We use the symmetric generalized Barnett variable profit function to derive demands for and supplies of monetary and nonmonetary goods and provide evidence consistent with neoclassical microeconomic theory. We find that the compensated price elasticities of banking technology are small in magnitude. Yet a hypothetical policy experiment shows that even small changes in the holding costs of financial goods can result in significant changes in user costs and the quantities demanded and supplied.

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Increasing customer loyalty through customer engagement in the retail banking industry

Spanish Journal of Marketing - ESIC ◽

10.1108/sjme-07-2019-0042 ◽

2019 ◽

Vol 23 (3) ◽

pp. 461-484 ◽

Cited By ~ 6

Author(s):

Diego Monferrer ◽

Miguel Angel Moliner ◽

Marta Estrada

Keyword(s):

Market Orientation ◽

Customer Loyalty ◽

Financial Services ◽

Structural Equation ◽

Strong Relationship ◽

Retail Banking ◽

Customer Engagement ◽

Content Type ◽

The Relationship ◽

Corporate Level

Purpose This study aims to determine the main antecedents of customer engagement (market orientation, satisfaction, emotions and self-brand connection) and the relationship between customer engagement and customer loyalty in the retail-banking context. Design/methodology/approach A theoretical model of effects is tested using dyadic methodology, based on 225 dyads (bank branch manager–average of five branch customers). The authors use structural equation modelling (EQS 6.1) to test the relationships. Findings The results reveal a strong relationship between customer engagement and customer loyalty. Satisfaction is the main antecedent of customer engagement. Self-brand connection and emotions during the service also have a significant influence. Finally, branch market orientation has a positive influence on satisfaction and emotions. Research limitations/implications The first concerns the transversal data used. Geographical context is the second limitation. Third, the study sample only included customers with experience of the financial services of a specific bank (online customers are not included). Finally, the dyads are based on the opinion of the branch manager, on one hand, and an average of five customers per branch, on the other. Practical implications The combination of the branding strategy at the corporate level and the relationship marketing strategy at branch office level creates a situation in which customer engagement and customer loyalty can thrive. The communication campaigns designed to promote the brand image and associate brand values with the personality of the banks’ current and potential customers help to create an emotional bond that represents a switching cost for the customer. The moments of truth in branch offices are crucial aspects in the retail bank strategy. Originality/value First, from the conceptual perspective, it establishes a direct relationship between customer engagement and customer loyalty. Second, it empirically tested Pansari and Kumar’s (2017) customer engagement framework, which establishes customer satisfaction and customer emotions as the antecedents of customer engagement. Third, the study took an innovative step in establishing two levels of customer emotions in the retail bank context: emotions generated by corporate branding and emotions that arise during the experience of purchase and consuming. Fourth, the study shows that the market orientation adopted not at the macro corporate level but at the individual branch level is crucial to the generation of positive relational outcomes in the service the customer receives. The fifth contribution is related to the fact that the research streams associated with market orientation and relationship quality have traditionally been studied in isolation.

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