Customers Retention Research Articles

Examining the Role of FinTech Services on Customers Retention of Islamic Banks in Pakistan: An Empirical Assessment

The objective of this research is to examine the influence of several variables, such as fintech payments, advisory services, and fin-tech financing, on the retention of customers in Islamic banks. The researcher used quantitative research design and positivistam philosophy to conduct this research. The target population comprises Islamic banking customers, with the sample drawn from 300 individuals holding accounts in the Punjab province of Pakistan. Data collection was facilitated through an adopted questionnaire administered to respondents. The findings reveal a significant impact of FinTech Payments, Advisory Services, and FinTech Financing on customer retention within the Islamic banking industry, showcasing the importance of these elements in shaping customer loyalty. This study stands out for its comprehensive examination of various facets related to FinTech and their direct and indirect effects on customer retention within the unique context of Islamic banking. However, it's crucial to acknowledge a limitation regarding the generalizability of the results beyond the studied population. Despite this constraint, the research offers valuable insights for Islamic financial institutions aiming to bolster customer retention through strategic utilization of FinTech-related elements and the cultivation of trust among their clientele. By embracing these findings, Islamic banks can enhance their customer relationship management strategies and maintain a competitive edge in the evolving financial landscape.

The Effects of Sustainable Hospitality Supply Chain on Customer Satisfaction and Customer Repurchase Intentions

Purpose: Sustainability is seen as an activity that promotes organizational growth through customer satisfaction. The current trend suggests that customers have high concerns about sustainability in the hospitality sector. The focused of this study looked into the sustainable hospitality supply chain impact on customer satisfaction and customer repurchase of hospitality services. Methods: Utilizing data obtained from customers patronizing any of the hospitality services (hotels accommodation, conferences and restaurants) in Ghana. The study focused on validating and testing a hypothesized model using the SmartPLS tool. Results and Conclusion: The result indicates a significant positive relationship between all the sustainable dimensions (economic, environmental, and social). These findings suggest that customer satisfaction is influenced by sustainable supply chain dimensions. The findings further revealed that the environmental dimension of sustainability provides a direct and significant relationship to customer repurchase of hospitality services, but the economic and social dimensions influence customer repurchase of hospitality services through customer satisfaction. Implication of Research: The findings of this study will enable practitioners and policymakers to understand sustainability practices in hospitality firms and assist them to prioritize, align or realign their limited resources on the sustainable dimensions since there is varying degree of impact of each dimension. Originality/Value: This paper adds to the existing findings by demonstrating the larger impact of sustainability in promoting customers retention for hospitality services. The study is unique as it shows the role of customers satisfaction in the relationship between sustainability dimension and customers retention for hospitality services. It provides evidence that sustainability dimensions is not a direct consequence of customer retention unless there is sufficient customer satisfaction for that sustainable dimension.

Proposed Marketing Strategy to Increase Sales Performance (Case Study: PT. Laku Emas Indonesia)

Laku Emas is a digital gold platform in Indonesia, where people can buy-sell-trade-pawn gold on the platforms. Upon its digitalization era, online investment is growing and massively popular. The problem however is that they are lacking customers and wish to increase the e-commerce sales. To analyze and research this both qualitative research methodology is used in this research to gain information and identify behavior, preferences and alternatives for improvement of actions. The primary data gathered is from interviewing potential customers of Lakuemas who know the brand and secondary through online reviews. For analysis technique, descriptive analysis is performed. Upon the research the main issue problems are identified based on customer experience journey and AARRR framework analysis. Lakuemas should further enhance their marketing strategy to be able to capture customers acquisition and retention.

The Impact of Floating Hotels’ Green Practices on Customers' Satisfaction and Retention

The Impact of Floating Hotels’ Green Practices on Customers' Satisfaction and Retention

Assessment of Sustainable Practices on Customers Satisfaction and Retention in Selected Hotels in Lagos State, Nigeria

Assessment of Sustainable Practices on Customers Satisfaction and Retention in Selected Hotels in Lagos State, Nigeria

Quantitative ABCD Analysis of Integrating Corporate Social Responsibilities with Green Banking Practices by Banks from Customers' Attraction and Retention Perspectives in Selected Indian Banks

Quantitative ABCD Analysis of Integrating Corporate Social Responsibilities with Green Banking Practices by Banks from Customers' Attraction and Retention Perspectives in Selected Indian Banks

The Effect of Service Quality, Price Fairness and Corporate Image to Customer Retention Mediated by Customer Satisfaction on LowCost Carrier Airlines

This research aims to analyze the effect of service quality, price fairness, and corporate image on customer retention of low-cost carrier airlines mediated by customer satisfaction. The research was conducted by quantitative research and testing hypothesis with a purposive sample of low-cost airline passengers. A Google form was used to collect 203 responses, which were then analyzed using the Partial Least Square method of the Structural Equation Model from the Statistical Package for Social Science. The results of the study found that the effect of the independent variables on the dependent variable was as follows: Service quality to customers retention has no effect; Price fairness on customer retention has no effect; Corporate image on customer retention has no effect; customer satisfaction on customer retention has an effect. In addition, service quality, price fairness, and corporate image have effect on customer satisfaction. For the indirect hypothesis, service quality, price fairness, and corporate image influence on customer retention mediated by customer satisfaction were accepted. The research concluded that there are 3 hypothesis that have no effect and 7 hypothesis that have an effect consisting of 4 direct effects and 3 indirect effects. The implication of this research, there is the important rule of customer satisfaction as a mediating variable from service quality, price fairness, and corporate image to customer retention of low-cost carrier airlines. The placement of customer satisfaction as a full mediation variable on the research model became a Novelty in this study.

Transfer rate prediction at self-service customer support platforms in insurance contact centers

Customer support constitutes the face of a brand and plays a critical role in shaping customers retention and loyalty. To facilitate customer contacts and to reduce the corresponding operating costs, organizations resort to self-service interaction channels. However, dealing with self-service customer support platforms has been identified to be one of the most frustrating aspects of a poor customer contact experience. This paper builds on real data from contact centers of a major U.S. insurance company, covering about 10 million calls, to study transfer rate at the interactive voice-response platform. We develop an empirical model to analyze features that exert significant impact on the likelihood that a call arrived to the platform is eventually transferred to a live agent. We find evidence that caller types, specific caller intents, trying distinct channels, and payment attempts can help predicting the transfer outcome. Our study confirms the importance of a caller’s location attribute and evinces that the size and composition of the set of effective features and their directions vary substantially across different states. Our results provide managers with several actionable insights to enhance the customer contact experience. For example, our feature selection analysis enables designing personalized interactive voice-response systems based on customer-contact features. Identifying those calls expected to be transferred at any time can guide recruiting and scheduling a workforce with appropriate skill sets. In addition, the transfer rate is a key input variable for various decision making problems arising in the management of call center operations.

A New Model on Customers' Attraction, Retention, and Delight (CARD) for Green Banking Practices

A New Model on Customers' Attraction, Retention, and Delight (CARD) for Green Banking Practices

PERCEPTIONS OF A BRAND’S SOCIAL MEDIA MARKETING ON CONSUMERS LOYALTY

At present, from Malaysia’s population that consists of over 32 million people, 91.7% are social media users. This data is an evidence that businesses need to move to the online platforms to be able to reach more customers and to ensure the customers retention and loyalty. Therefore, this research investigates and describes the concept of consumer perception of a brand’s social media marketing on consumers’ loyalty. The study examines the different approaches adopted by companies to build their loyal customer. Consequently, there are four variables that have been discussed in this study which are trendiness, customer experience, community outreach and customer expectation. All of these factors were analysed using frequency analysis, descriptive analysis, reliability analysis, multiple regression analysis and correlation analysis. The results show that there is a significant relationship between customer experience and customer expectation and customer loyalty. Whereas, customer outreach and trendiness showed insignificant results towards customer loyalty. Customer expectation was the variable that has the strongest impact on customer loyalty. This finding is aligned with past research and proves that when the gap of customers’ expectations and final product or services are reduced, they will turn to be a loyal customer to the brand and support the brand continuously.

Cross Channel Integration Dalam Meningkatkan Retensi Pelanggan Pada Industri Ritel

In today's challenge, retailers are starting to use an omnichannel strategy that utilizes Cross-Channel Integration (CCI) to coordinate various retail channels and retain customers. CCI is designed to improve customer access and interaction with online and offline channels during the shopping process. This strategy is done to improve customer experience and increase Customers Retention (CR) which is the core goal of CCI. This research is a causal- comparative study to find out whether there is an influence between Cross Channel Integration on Customer Retention. The survey was conducted on 83 consumers who have used online and offline retail channels such as IKEA and Ace Hardware. By distributing questionnaires online, it was found that CCI had a positive effect on CR. This proves that the omnichannel retail strategy by utilizing CCI is one of the goals in increasing retail consumer retention in shopping

INVESTIGATING THE EFFECTS OF ADMINISTRATIVE SERVICE QUALITY ON CUSTOMER RETENTION IN A PRIVATE HEALTH CARE ORGANISATION

Ponte Academic JournalDec 2022, Volume 78, Issue 12 INVESTIGATING THE EFFECTS OF ADMINISTRATIVE SERVICE QUALITY ON CUSTOMER RETENTION IN A PRIVATE HEALTH CARE ORGANISATIONAuthor(s): Luvhengo Usapfa ,Lekunze JN, Molamu NPJ. Ponte - Dec 2022 - Volume 78 - Issue 12 doi: 10.21506/j.ponte.2022.12.10 Abstract:As the business environment is becoming more competitive, so are organisations forced to redefine themselves to ensure growthfollows a case study approach and investigate the effects of administrative service quality on customer retention in a private health care organisation in a predominantly rural setting in South Africa. The study focusses on what constituted administrative service quality in the private health care industry, and the effects thereof on customer retention as a growth strategy. A quantitative research approach was followed, and a survey instrument was used to collect data from 102 customers who were randomly selected as they visit the facility over a period of 4 months. The data was captured on SPSS version 25.0 and analysed using descriptive statistical methods. In this study, a positive correlation was established between administrative service quality, customer retention and growth of the customer base. This finding provides guidance to the hospital management on how best to allocate resources in addressing gaps in the administration. The implementation of findings may result in the reduced customer complaints and increased occupancy rate which in turn ensures customers retention. The study has shown that administrative service quality influences customer retention and growth in private health care sector. The study recommends a continuous monitoring and improvement in the administrative service if the care provider is to secure its market share in a highly competitive sector. Download full text:Check if you have access through your login credentials or your institution Username Password

To leave or retain? An interplay between quality digital banking services and customer satisfaction

PurposeIn this paper, the authors investigated the impact of quality digital banking services delivered during the COVID-19 pandemic on customers' satisfaction and retention intentions.Design/methodology/approachThis study combined constructs drawn from the E-S-QUAL and BSQ models to measure the impact of digital banking services on subscribers of digital banking services in Ghana. The study utilized structural equation modeling with partial least squares (PLS-SEM) to analyze 395 responses.FindingsResults revealed a significant direct effect between digital banking services satisfaction and customer retention decision. The results also revealed that digital banking services quality dimensions such as ease of use, efficiency, privacy/security and reliability impact customers' satisfaction and retention intentions.Research limitations/implicationsDigital banking service portfolios and their quality dimensions vary among banks. This offers an opportunity for banking institutions and other non-bank financial service providers to be wary of the impact of quality service delivery on customers' decisions. This paper makes significant theoretical contributions and practical implications on the relevance of quality digital banking services in customers' retention strategies for competitive advantage.Originality/valueThis study has underlined the significance of quality digital banking services in developing countries. The study underscored the need for banking and non-bank financial institutions to embrace the much-anticipated quality service demanded by customers and the need for continuous service improvement relative to the growing deployment of financial technologies.

Strategies of Buzz Marketing in Social Media Platform, its Effectiveness and Impact on Customer

Due to high use of Social Media platform, Live-stream videos are proven as successful buzz marketing activity because they provide an interactive element for consumers on social media. Buzz marketing is a strategy that creates word-of-mouth marketing with viral content, influencers, and interactive events to create buzz around the launch of a new product or service. In this paper, Strategies for Effective Buzz Marketing with use of social media are discussed and also the impact of buzz Marketing over consumers and how much Buzz Marketing is influential for the potential customers retention is also explained.

Impact of After-Sales Service on Customers� Retention of Mobile Telecommunications in Nigeria

The idea of after-sales services has been adopted globally to provide the consumers after the product or services rendered. The study explored the impact of after-sales services on customers� retention of mobile telecommunication in Nigeria. Survey research was adopted, and the aim of using this design is premised on the fact that the study relied on obtaining information from the field using a questionnaire. The population consist of all the subscribers of MTN, Globacom, Airtel and 9mobile. Four hundred seventy-two (472) subscribers of mobile networks were proportionally drawn from the NCC website. Subsequently, a simple random sampling technique was used to select the respondents from each of the mobile networks. Data collected were analysed using an application of simple percentage method in computer software packages (SPSS), and the regression analysis adopted by the testing of a reported hypothesis. The regression of [t-statistics] value of .01 and [2.63] demonstrates that the relationship between after-sale service and retention of customers is essential because the alpha level of 0.05 is higher than the p-value. Hence, the assumption is that growth in after-sales activities is a significant contributor to customer retention. Management should pay attention to the employee position to the quality of after-sales service, which results in future procurement and further recommendations.

Assessing the Performance of Managing and Following-up Online Hotels’ Guests Reviews

Purpose –Word of mouth (WOM) is considered among the most powerful source of information that affect consumers’ purchasing decisions in the hotel industry. The importance of this effect growing because of the hospitality nature, those services are difficult to evaluate before consumption. The digitization of WOM and its spread on a large scale make it easier to track opinions about the services offered, which is more likely to have more credibility among consumers. Handling and responding to guest comments and reviews especially negative one is a very important in affecting the purchasing decision of the potential consumers. The purpose of this study is to investigate how managing customers’ online reviews affect hotel performance and customers retention of some four stars hotels in Red Sea, Egypt. Design/methodology/approach– the data was collected through a semi-structured interview addressed to Director of Sales and Marketing and another questionnaire addressed to a sample of customers who lately visited the Red Sea. Research limitations/implications– The research focused on a sample of the four stars resort hotel's in Red Sea, Egypt.

Website Attributes, Customer Engagement and Retention: Empirical Evidence from Local Pakistani Companies

Abstract: Website attributes of an e-commerce website enhance its visual and responsive appeal for the website. To have a closer view and insight of the website attributes, we investigated that how different website attributes such as aesthetic, affective, functional and symbolic affects the customer engagement and retention. We compared furniture and airline sector specifically; Interwood and Habitt, and PIA and Serene Air websites and its effect of customers engagement and retention. Data was collected from respondents after showing them the websites of each company and they were asked to evaluate them in terms of their aesthetic, affective, functional and symbolic appeal. All the relationship in this research were significant except few. Affective attributes of Habitt, PIA, Serene Website does not engage customers while aesthetic properties of Habitt and Serene Airlines do not retain customers. Also, affective properties have the most significant relationship with customer retention for all the customers of each company. Overall, results added useful insight into the literature on E-commerce and Marketing.

Impact of banking innovations on customer attraction, satisfaction and retention: the case of commercial banks in Botswana

This study investigates the impact of banking innovations on customers' attraction, satisfaction and retention amongst commercial banks in Botswana. To analyse the data, descriptive and inferential statistics are utilised. The study offers evidence of antecedents of banking innovations from a developing country (Botswana). The results indicate that, innovative banks are likely to attract and satisfy their customers. These findings offer useful understanding of commercial banks, specifically when embarking on introduction of innovative practices that seeks to attract, satisfy and retain customers in the rapidly changing and competitive environment. The conclusion of the study emphasises the application of innovative practices as a way to increase commercial banks' clientele base, which, in turn, results in competitive performance. The research offers insights into commercial innovative practices, which have influence on customers' attraction, satisfaction and retention. The study's key limitations arise from sample size, perhaps a more robust sample size in a different geographical would suffice.

Effect of six sigma on performance of medium scale manufacturing firms in south-eastern Nigeria

The effect of Six Sigma on Performance of MSF’s in South-East Nigeria. The main objective is to determine the effects of Six Sigma on the performance of MSF’s in South-East, Nigeria. While others are to: determine the extent at which process defines influence the customers’ patronage of their product, determine the extent at which process measurement influences product positioning and determine the extent at which improvement on production processes influence customers retention. The result shows that process definition practice among MSF’s significantly influenced customers’ patronage, process measurement among MSF’s was found significant influencing positioning and production improvement significantly influenced customer retention among MSF’s in South-East Nigeria. The study concluded adoption of Six Sigma practices positively influences the performance of the MSF’s in South-East Nigeria.

Improved credit card churn prediction based on rough clustering and supervised learning techniques

Every process is digitized in the current society. Transfer of money from one account holder to another has become possible in seconds because of advanced technologies in information processing. Not only this in all sectors like railways, insurance, health sector, fashion technology, education sector, sales and business sectors, and advertisement sectors every firm digitized its operations. One such sector is banking where every individual based on his or her financial status will be considered for crediting loan, and credit card etc. If the credit score of the loan availing person is high banks will be ready to provide him with the loan but the availing person can opt for any one of the banks on his or her own willing. Such scenario happens in credit card churn prediction also. Hence the banks should take healthy measures to retain the existing credit card holders without any churn. Withholding existing customers of a firm plays an important role to increase the overall revenue of the firm and retains the good name of the firm in competitive market. Hence every organization takes key measures to withhold existing customers using customer management models. Because customer retention is a crucial task as it reduces the time, money and workforce needed for adding new customers to the firm. Customers retention technique in credit card churn prediction (C3P) was done using only supervised classification techniques. But it could not end with better results. So, through many proven hybrid classification techniques we can bring better accuracy in C3P. Also C3P lags in highly efficient techniques like rough set theory. Hence in this work initially we perform data processing techniques and in second stage we propose modified rough K-means algorithm used for clustering credit card holders and in next stage hold-out method divides the cluster data into testing and training clusters. At last classification is performed using various algorithms like support vector machine, random forest, decision tree, K-nearest neighbor, and Naive Bayes. Finally we evaluate the work using precision, recall (sensitivity), specification, accuracy, and misclassification error.