Examining the Effect of Customer Relationship Marketing on Customer Loyalty at CIMB Niaga Bank, Indonesia

Authors

  • Eka Mayastika Sinaga Department of Management, Sekolah Tinggi Ilmu Ekonomi Bina Karya Tebing Tinggi, Indonesia
  • Benhart Nainggolan Department of Management, Sekolah Tinggi Ilmu Ekonomi Bina Karya Tebing Tinggi, Indonesia

DOI:

https://doi.org/10.56225/finbe.v1i3.117

Keywords:

customer relationship marketing, financial benefit, social benefit, structural benefit, customer loyalty

Abstract

Cimb Niaga Bank needs a surefire strategy to win competition in the banking world, and relationship marketing is one of the strategic concepts that can be used by banks to win competition. Thus, this study aims to examine the effect of customer relationship marketing on customer loyalty. This study is designed using a quantitative approach through survey questionnaire. A total of 100 CIMB bank customers participated in this study. The sample of this study is CIMB bank customer follower in CIMB_Niaga's Instagram account as much as 266,000. The collected data analyzed using descriptive statistics and multiple linear regression. In addition, the data collection techniques used in this study are through literacy studies as well as data on the bank's annual performance report. The result indicated that financial benefits, social benefits and structural benefits have a significant and positive effect on customer loyalty. In conclusion, this study identified that the customers consider to always be loyal and customers have a benefit to always be in touch with Cimb Niaga Bank. Financial benefits are the existence of rewards in the form of prizes in the form of prizes in the form of prizes in the draw to customers or souvenirs given to customers. Social benefits are maintaining good relations with customers, able to solve well the problems faced by customers quickly. Structural benefits where the bank can guarantee customer funds so that Bank CIMB Niaga can improve performance because it can provide relationship benefits to customers. Of the three benefits that most dominantly affect customer loyalty is the social benefits. This study provides advice or assistance for CIMB Niaga Bank to increase the customer loyalty. Further research can expand the scope of study considering more detailed approach in measuring customer loyalty.

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Published

2022-12-31

How to Cite

Sinaga, E. M., & Nainggolan, B. (2022). Examining the Effect of Customer Relationship Marketing on Customer Loyalty at CIMB Niaga Bank, Indonesia. Frontiers in Business and Economics, 1(3), 125–132. https://doi.org/10.56225/finbe.v1i3.117
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