The Effects of Customers Relationship Management Practices and Multiple-Channels on Customer Loyalty in Financial Services

Rising world affluence and an aging global population have led to expansive growth in the financial services market in recent years. When coupled with advances in information technologies (IT) and the Internet, the rising demand for services opens global opportunities for financial service firms and...

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Bibliographic Details
Published in:Asia Pacific management review 2007-06, Vol.12 (3)
Main Authors: Chen, Ja-Shen, Ching, Russell, KH
Format: Article
Language:English
Subjects:
Brand loyalty
Competition
Competitive advantage
Customer services
Customization
Loyalty programs
Online Access:Get full text
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Summary:Rising world affluence and an aging global population have led to expansive growth in the financial services market in recent years. When coupled with advances in information technologies (IT) and the Internet, the rising demand for services opens global opportunities for financial service firms and consequently has heightened competition. To gain a competitive edge, many firms have turned to customer relationship management (CRM) to seek a greater understanding of their customers' needs and expectations, and better manage their customer care to gain customer loyalty. The results of a survey conducted on financial services consumers in Taiwan suggest that CRM practices in loyalty programs and cross-selling, customer service and customization, and multiple-channels have positive effects on customer loyalty, and additionally multiple-channels has a moderating effect on the relationship between CRM practices in customer service and customization, and customer loyalty.
ISSN:1029-3132
2589-8213