A Brazilian Experience of Customer Retention and Its Key Drivers in Banking Service Rendering

• Published in: Journal of relationship marketing (Binghamton, N.Y.) N.Y.), 2015-10, Vol.14 (4), p.269-286
• Main Authors: Milan, Gabriel Sperandio, De Toni, Deonir, Barcellos, Paulo Fernando Pinto, Dorion, Eric Charles Henri, Bebber, Suélen
• Format: Article
• Language: English
• Subjects: Bank services; banking service; Customer retention; Customer satisfaction; Customer services; Mathematical models; Relationship marketing; Reputations; Statistical methods; Studies; Trust; value
• ISSN: 1533-2667; 1533-2675
• DOI: 10.1080/15332667.2015.1091636

This article focuses on customer retention through the existing relationship of a banking service provider with its customers. A theoretical model was tested with banking service natural person customers taking into account customer satisfaction, value, service provider reputation, and trust as key drivers of customer retention. A multivariate statistical approach with structural equation modeling was used. Results indicate that the theoretical model has acceptable fit, confirming that customer satisfaction positively affects perceived value by customers; perceived value is a key driver of trust through service provider reputation; service provider reputation is important in the studied context; and customer retention is positively affected by trust in the service provider.