Measuring Customer Engagement in Retail Banking Published: 20 February 2019 ID: G00411639 Analyst(s): Financial Services Business Leader Research Team Summary How do financial services executives define and measure customer engagement in an era of increased technological capabilities and data availability? 63 No. 1, pp. This principle holds that all the decisions taken in the company start with the customer and are grounded on a deep shared understanding of his or her needs and behaviours to achieve greater performance than its competitors through customer satisfaction and by providing a higher value service or product (Han et al., 1998; Kolar, 2006; Theodosiou et al., 2012; Fang et al., 2014). Brodie et al. Ou, Y.C., Verhoef, P.C. 154-159. This is largely because of the different publics on which each of these streams focuses its analysis. Blasco’s (2014) four-item scale was used to measure the level of customers’ engagement with their branch, again tailored to the bank branch context. Kosiba, J.P.B., Boateng, H., Okoe Amartey, A.F., Boakye, R.O. Verleye, K. (2015), “The co-creation experience from the customer perspective: its measurement and determinants”, Journal of Service Management, Vol. The design of the branch office, with careful attention to merchandising, interactions among customers and the area where the public are attended, are all critical aspects in successful relationship marketing. 32 No. Hox, J.J. (1994), “Hierarchical regression models for interviewer and respondent effects”, Sociological Methods and Research, Vol. First, in response to recent calls in the literature for more in-depth analysis of this relationship (Kumar et al., 2013; Thakur, 2016; Kosiba et al., 2018; Moliner et al., 2018; Parihar et al., 2019), from the conceptual perspective it establishes a direct relationship between customer engagement and customer loyalty. (2010) and Pansari and Kumar (2017) understand customer satisfaction to be an antecedent of customer engagement behaviour (Anderson and Mittal, 2000; Palmatier et al., 2006). and Resnicow, K. (2010), “Interviewer effects in public health surveys”, Health Education Research, Vol. 943-956. From this combined perspective, market orientation is a strategic orientation based on managing market knowledge that is built on the organisation’s firm commitment to develop a set of processes, beliefs and values that reflect the fundamental principle of marketing (Monferrer et al., 2019). Spanish Journal of Marketing-ESIC, 2019, vol. According to the J.D. 958-965. 3 Tipo de documento Schneider, B. and Bowen, D.E. 3, pp. 24 No. and Van Trijp, H.C.M. 27 No. 55% of Americans have full service banking apps on their phones today–delivering convenient access to accounts and transactions. The covariance matrix is displayed in Table III. These changes have led to growing concerns about profitability and productivity in banks, which have introduced marketing strategies designed to attract and retain customers (Gensler et al., 2013). In Section 6, results are presented, and Section 7 closes with discussion, managerial implications, limitations and future research. We also assessed inter-rater reliability (Batko, 1976) among branches using ICC statistics, ICC (1) and ICC (2). Table II summarises the sources of the measurement scales used in the study, which are presented later in the paper in Table IV. At the end of 2015, pre-tests were conducted with the questionnaire items in personal interviews with 10 bank branch managers and 25 customers. Tercero, se establecen dos niveles de emociones del cliente en banca minorista: las generadas por el branding corporativo y las que surgen durante la experiencia de compra. Roy, S.K., Balaji, M.S., Soutar, G., Lassar, W.M. 70 No. 17 No. Pansari and Kumar (2017) call for more research to determine the antecedents and consequences of customer engagement. 301 certified writers online We eliminated the indicators that did not satisfy the strong convergence condition, that is, those having individual standardised coefficients (λ) lower than 0.6 and an average standardised factor loading of less than 0.7 (Steenkamp and Van Trijp, 1991; Hair et al., 2010). Each branch operates in a specific context, and each context may differ considerably from that of other branches in terms of customer type, business turnover, environmental conditions, needs for specific products and services and so on. The main antecedent of customer engagement is customer satisfaction (0.552), followed by self-brand connection (0.372) and emotions during the service (0.218). If relational performance is to improve the experience and earn customers ’ loyalty service ) a! 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