Modeling the effectiveness of investment strategies in customer relations in the banking industry with emphasis on customer relationship orientation

Abstract

The current trends in the business world, from the transition to a service-based economy and the development of ICT technologies, have significantly increased the importance of relationship-based loyalty for companies. In line with these developments, establishing a long-term relationship with the customer has become a vital strategy in the banking industry. The purpose of this article is to provide a model for evaluating the effectiveness of investment strategies in the Iranian banking industry with an emphasis on customer relationalism. Investment has an impact on customer relationships. In this regard, the statistical population is the customers of Keshavarzi Bank in Tabriz, which in the sample size of 417 customers, a questionnaire was completed. Simple random sampling method was used to select the samples and the research hypotheses were tested using structural equation modeling and AMOS software. According to the research findings, financial, social and structural strategies of investing in customer relationships have a positive effect on relationship quality, relationship quality has a positive effect on customer loyalty, word of mouth and customer share, and the effect of financial and social strategies on relationship quality in Relationship and non-relationship customers are different, but the effect of structural strategy on relationship quality is the same in relationship and non-relationship customers.

Keywords

• investment strategies in customer relationships
• customer responses
• relationship orientation
• relationship quality