scholarly journals CRM system and potential customer loyalty trends: Some evidence of customer engagement

2021 ◽  
Vol 8 (5) ◽  
pp. 44-52
Author(s):  
Algamdi et al. ◽  
Keyword(s):  
Customer Loyalty ◽  
Research Literature ◽  
Customer Segmentation ◽  
Customer Relationship ◽  
Loyalty Programs ◽  
Customer Engagement ◽  
Service Market ◽  
Building Relationships ◽  
Building Activities ◽  
The Relationship

This present paper aims to validate the relationship between loyalty programs and to recognize the value of implementing CRM systems by the dimensions of CRM realize and commercial banks. This article also presents an emerging CRM research literature as CRM's customer-focused component, investigating the relationship between CRM and customer loyalty. By implementing robust information management, CRM aims to improve customer interactions through a portfolio of trust-building activities. Simultaneously, most CRM literature focuses on banks designing and executing CRM initiatives. The current research explored various customer loyalty determinants but pay less attention to understanding the relationship between product dimensions and fundamental loyalty mechanisms. The study used both quantitative and qualitative data, focusing on Saudi banks' CRM dimensions and customer loyalty. The Data were collected using surveys and interviews. The finding of this study indicates that the basis of the relationship between the bank and customers is the element of credibility and security privacy and confidentiality of information. However, customer acquisition practiced more than preserving customers (contact, quality of service, market response). Building relationships with them, so the Bank services focused on the retention customers and building relationships with them in the short term, because it is a Less cost, and ameliorate part of customer segmentation actual and potential market of banks on the long term strategy. The study enriches the banking literature on how to implement customer relationship management (CRM) in financial institutions. This topic has not been discussed mainly in the Middle East except in a few studies. Despite the challenges facing banks in light of the spread of Fintech companies and their repercussions on banks operating in the region.

Understanding the Relationship Between Customer Satisfaction, Customer Engagement and Repeat Purchase Behaviour

2021 ◽  
pp. 097226292199259
Author(s):  
Devika Rani Sharma ◽  
Balgopal Singh
Keyword(s):  
Customer Satisfaction ◽  
Relationship Building ◽  
Customer Relationship ◽  
Mediation Effect ◽  
Customer Engagement ◽  
Mediating Role ◽  
Repeat Purchase ◽  
Building Activities ◽  
The Relationship

Emergence of technology has not only boosted the growth of customer engagement but has also paved way for customers to become active co-creators with the firms. Customer engagement activities are taking over the customer relationship building activities in the present scenario. Customers’ experience with a particular brand has its impact on satisfaction levels and their repurchasing intention in future as well. According to Rosetta Consulting report an engaged customer is likely to buy 90% more frequently and may spend 300% more than other customers. Hence, the present has tried to understand the mediating role of satisfaction on customer engagement in retaining the customers or persuading the customers to repurchase. The results show that there exists a significant mediation effect of customer satisfaction in influencing their repeat purchase behaviour.

Shopping for loyalty: an executive's wish list

2009 ◽  
Vol 26 (1) ◽  
pp. 49-51 ◽  
Author(s):  
Bruce Kerr
Keyword(s):  
Customer Loyalty ◽  
Customer Relationship ◽  
Loyalty Programs ◽  
Customer Engagement ◽  
Strategy Development ◽  
Loyalty Program ◽  
Content Type ◽  
The Future ◽  
Loyalty Program Design ◽  
Past Experiences

PurposeThe purpose of this paper is to present a blueprint for loyalty strategy development, and to inform the reader of the basic and not so basic elements that should be considered by companies, academics and executives when determining the future effectiveness and success of a customer loyalty program.Design/methodology/approachThe paper draws on author expertise and know‐how, as well as past experiences and market trends, to present a compelling review of necessary elements for a customer relationship program.FindingsBefore embarking on a loyalty program design companies should be wise to set long‐ and short‐term goals to drive the initial strategy. One should avoid launching a “me too” program by differentiating from one's close competitors. Implement a strategy from top to bottom across the organization. Data and customer engagement are the most important elements to foster.Practical implicationsA well‐planned and executed loyalty strategy can boost growth in incremental sales, increase in‐store traffic, drive higher impact from promotions and significantly boost overall revenues. Customer relationship marketing can also lead to richer data insights about current customers and high‐value potential customers.Originality/valueAn executive with decades of experience building and maintaining customer loyalty programs cites trends for the future of the loyalty discipline.

Electronic Customer Relationship Management (E-CRM) and Customer Loyalty

2022 ◽  
Vol 18 (1) ◽  
pp. 0-0
Keyword(s):  
Customer Satisfaction ◽  
Customer Loyalty ◽  
Structural Equation ◽  
Service Providers ◽  
Positive Impact ◽  
Equation Model ◽  
Mediating Effect ◽  
Customer Relationship ◽  
The Impact ◽  
The Relationship

This study examined the impact of E-CRM on customer loyalty with the mediating effect of customer satisfaction in the banking industry. Customer satisfaction is important for loyalty because when the customers are satisfied with the services offered by their service providers, the relationship gets stronger which further leads to positive word-of-mouth. The data was collected using purposive sampling from 836 banks’ customers who were using E-CRM services and the data was analyzed using structural equation model (SEM) through AMOS. The results revealed that E-CRM and customer satisfaction had a significant positive impact on customer loyalty and also customer satisfaction partially mediated the relationship between E-CRM and customer loyalty. This study would offer useful acumen to both academicians and marketers and would help the bank managers to improve the quality of the services provided to their customers.

scholarly journals Modern Market Customer Loyalty: Advertising Promotion Strategies

2019 ◽  
Vol 10 (2) ◽  
pp. 111
Author(s):  
Apri Budianto ◽  
Irma Damayanti Bastaman ◽  
Aulia Fauziyah
Keyword(s):  
Customer Loyalty ◽  
Customer Relationship ◽  
Analysis Tool ◽  
Promotion Strategy ◽  
Retail Business ◽  
Promotion Strategies ◽  
The Relationship ◽  
Simple Regression ◽  
Loyal Customers

This study is focused on the relationship between advertising promotion strategies and customer loyalty in the modern market. This study seeks to explain the advertising promotion strategy if successfully carried out by the modern market, with the hope of creating loyal customers. This research was conducted on modern market customers in Ciamis. Ciamis is one of the regions in Indonesia, which is the same as other regions there are several modern markets with a variety of character of its customers. The study is based on the statements of several experts, which explain the customer relationship with various retail business promotion strategies. The model used in this study as an analysis tool is simple regression to illustrate how the relationship between advertising promotion strategies and customer loyalty. The results obtained are that there is an influence of advertising promotion strategies on customer loyalty, with the magnitude of influence is 27.5%, while as many as 22.5% are influenced by other factors not examined in this study

Using Social Media to Influence CRM and Loyalty

2015 ◽  
pp. 244-267
Author(s):  
Rozita Shahbaz Keshvari
Keyword(s):  
Social Media ◽  
Customer Loyalty ◽  
Relationship Management ◽  
Restaurant Industry ◽  
Customer Relationships ◽  
Customer Relationship ◽  
Media Usage ◽  
The Social ◽  
Customer Perspective ◽  
The Relationship

This chapter explores the influence of social media in Customer Relationship Management that leads to Customer loyalty. The social media in restaurant is recognized as an essential component of the customer satisfaction and therefore it is a cornerstone of the success of CRM and customer loyalty through social media nowadays. The purpose of this chapter is to investigate how Restaurant industry can harness the power of social media by utilizing CRM that leads to Customer loyalty. The problem is approached applying both the restaurants perspective and the customer perspective. The recent explosion in social media usage, combined with the transformation of the consumer into a “consume' activist”, has permanently changed the relationship between a restaurant and its customers. There were two interviews conducted for 384 restaurants collected and analyzed for the research. The results proved that Social media can be an excellent channel for building long-lasting customer relationships in restaurants.

Does Technology Acceptance Change the Way from CRM to Customer Loyalty?

2012 ◽  
pp. 98-111
Author(s):  
Yi-Yuan Liu
Keyword(s):  
Path Analysis ◽  
Technology Acceptance ◽  
Customer Loyalty ◽  
Banking Industry ◽  
Relationship Management ◽  
Mediating Effect ◽  
Customer Relationship ◽  
Continuance Commitment ◽  
Retail Banks ◽  
The Relationship

This study explores the moderating effect of technology acceptance on the relationship between customer relationship management (CRM) in terms of distribution and tailor-made functions and customer loyalty in the banking industry. The author uses LISREL two-group path analysis to find the variances between high and low technology acceptance. Data collected from the customers of nine retail banks show that commitments have a mediating effect on the relationship between the tailor-made function of CRM and customer loyalty, while technology acceptance has significant effects on both relationships between the two functions of CRM and continuance commitment.

scholarly journals Increasing customer loyalty through customer engagement in the retail banking industry

2019 ◽  
Vol 23 (3) ◽  
pp. 461-484 ◽  
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.

A customer engagement framework for a B2B context

2018 ◽  
Vol 33 (1) ◽  
pp. 145-152 ◽  
Author(s):  
Youmna Mohamed Abdelghany Youssef ◽  
Wesley J. Johnston ◽  
Talaat Asaad AbdelHamid ◽  
Mona Ibrahim Dakrory ◽  
Mohamed Galal Soliman Seddick
Keyword(s):  
Customer Equity ◽  
Customer Relationship ◽  
Three Dimensions ◽  
Customer Engagement ◽  
Content Type ◽  
Equity Value ◽  
Comprehensive Framework ◽  
The Relationship ◽  
Business To Business

Purpose The purpose of this study is to investigate conceptually the relationship between the customer’s engagement and equity and to determine whether customer engagement could be positively enhanced by business-to-business (B2B) firms to maximize their customer equity, through examining the role of cognitive, emotional and behavioral engagement. Design/methodology/approach This paper is built on the evolving marketing literature and proposes a comprehensive framework that uses a multidimensional conceptualization for the customer’s engagement and equity constructs; examines the relationships between customer satisfaction, commitment, trust and involvement and customer engagement; and specifies the specific customer engagement dimensions – cognitive, emotional and behavioral – as key mediators of the engagement–equity relationship. Findings This paper indicated that customer engagement is a multidimensional construct with three dimensions: cognitive, emotional or behavior engagement. Customer’s satisfaction, commitment, trust and involvement would be regarded as antecedents to customer engagement, whereas customer equity would be regarded a consequence for customer engagement. In addition, this paper identified three drivers of customer equity – value, brand and relationship equities – based on reviewing the previous studies. Originality/value This paper integrates philosophies from previous marketing studies of customer relationship management and customer engagement and equity into a B2B environment in a more customer-centric approach.

The Effect of Hypermarkets’ Social Media Usage on Indonesian Customers’ Loyalty

2015 ◽  
Vol 21 (4) ◽  
pp. 751-755
Author(s):  
Retno Dewanti ◽  
Ishak Ismail ◽  
Malliga Marimutu
Keyword(s):  
Social Media ◽  
Customer Loyalty ◽  
Purchase Intention ◽  
Psychological Distance ◽  
Positive Influence ◽  
Sem Analysis ◽  
Customer Relationship ◽  
Validity And Reliability ◽  
Mediating Role ◽  
The Relationship

Most studies argue that the implementation of relationship like customer relationship management (CRM) may represent the difference between the success and failure of retailing organization. The purposes of this research is: (1) to test the new construct of CRM based on elements of social media related to the customer relationship, (2) to investigate the relationship between CRM and purchase intention, (3) to investigate the relationship between purchase intention and customer loyalty, (4) to examine the effect of purchase intention as a mediating role between CRM and customer loyalty, (5) to examine psychological distance as the moderating role between CRM and purchase intention. The conceptual focus of CRM model is to see the effectiveness of using social media to create purchase intention and their impact on customer loyalty. This research used SEM analysis with Smart PLS 2.0 version to test the validity and reliability of the data. The data sample is collected from Twitter and Facebook users. The results indicated that the CRM has a positive influence on purchase intention. On the other hand, purchase intention has a positive effect on customer loyalty and at the same time, it played a mediating role between CRM and customer loyalty. Psychological distance was moderated by CRM and purchase intention. The four hypotheses are supported. The limitation of this research is that it is only confined to Twitter and Facebook users that usually go to hypermarkets in five biggest malls in Jakarta.

scholarly journals The relationship between e-CRM and customer loyalty: a Kenyan Commercial Bank case study

2017 ◽  
Vol 12 (2) ◽  
pp. 106-115 ◽  
Author(s):  
Eric E. Mang’unyi ◽  
Oumar T. Khabala ◽  
Krishna K. Govender
Keyword(s):  
Customer Loyalty ◽  
Survey Design ◽  
Commercial Banking ◽  
Customer Relationship ◽  
Cross Sectional Survey ◽  
Design Data ◽  
Cross Sectional ◽  
Convenience Sample ◽  
The Relationship

Since customer loyalty is key, especially in the highly competitive commercial banking environment, this article evaluated the effects of features of electronic customer relationship management (e-CRM) on customer loyalty. Using a cross-sectional survey design, data were collected from a convenience sample of customers of a major international Kenyan bank using self-administered questionnaires. The findings based on correlation and multiple regression analyses, revealed that pre-service, during (the) service and post transactional e-CRM features have a positive and significant relationship with loyalty, and that the pre-service and during service features significantly predict loyalty. Thus, enhancing e-CRM practices could be a strategic competitive tool to impact the banks’ relationship with their customers.

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