Abstract
The effectiveness of relationship marketing efforts in services selling is to a large extent dependent on customers' commitment to increase the depth and breadth of their relationship with the organisation. In this study, we seek to extend current thinking by presenting a model that examines the relative importance of customer education, participation and problem management in driving customer loyalty. To test the relationships between these variables, we use data collected from 1,268 clients of a global financial services firm. Overall, the results support the hypothesised model and show customer education to be the strongest determinant of client loyalty. Current findings provide implications for multi-product financial institutions that are of theoretical and practical interest alike.
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1holds a BSc in Management from the London School of Economics and an MPhil in Management Studies from the University of Cambridge, where he also earned his PhD. His research interests include relationship marketing strategies, and the role of social network effects in driving cluster performance.
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Eisingerich, A., Bell, S. Relationship marketing in the financial services industry: The importance of customer education, participation and problem management for customer loyalty. J Financ Serv Mark 10, 86–97 (2006). https://doi.org/10.1057/palgrave.fsm.4760022
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DOI: https://doi.org/10.1057/palgrave.fsm.4760022