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The Role of Relationship Marketing on Customer Advocacy: An Empirical Investigation from Insurance Companies

Author

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  • OLUWABIYI, Ezekiel Olakunle

    (Babcock University, Ilishan-Remo, Ogun State, Nigeria)

  • Timilehin Olubiyi

    (Babcock University Ogun State Nigeria)

  • Olalekan ASIKHIA

    (Caleb University, Lagos, Nigeria)

  • Thomas Kalu EGWUONWU

    (Babcock University, Nigeria)

Abstract

Customer advocacy has compelling evidence in the business sector that may influence prospective customers to purchase a company's products and services. It is a recommendation of a product, service, or brand based on its performance that spreads by word-of-mouth. The insurance penetration in Nigeria, which is less than 1%, reflects a lack of client advocacy for insurance. Disseminating favorable information based on user experience impacts purchasing decisions, leading to increased revenue and profitability. The present research seeks to determine the impact of Relationship Marketing (RM) characteristics on consumer advocacy. The study used a survey research design. The survey included 375,000 estimated insurance service consumers in Lagos State, Nigeria. A sample of 1,650 customers was picked from certain Local Government Areas in Lagos State using a non-probability sampling method. An adapted and validated questionnaire on relationship marketing and market penetration in the insurance industry was used. The Cronbachs Alpha coefficient for the constructions varied from .76 to .90. One thousand six hundred fifty questionnaires were distributed, and 80% of them were completed and returned. The data were examined using descriptive statistics and multiple regression analysis for inferential statistics. The study indicates that relationship marketing has a substantial impact on customer advocacy in the insurance sector. The research recommends that insurance professionals use relationship marketing to impact customer advocacy in the insurance industry.

Suggested Citation

  • OLUWABIYI, Ezekiel Olakunle & Timilehin Olubiyi & Olalekan ASIKHIA & Thomas Kalu EGWUONWU, 2024. "The Role of Relationship Marketing on Customer Advocacy: An Empirical Investigation from Insurance Companies," Marketing and Branding Research, EUROKD, vol. 11(1), pages 27-41.
    • Handle: RePEc:bco:mbraaa::v:11:y:2024:p:27-41
    DOI: 10.32038/mbr.2024.11.01.03
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    References listed on IDEAS

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    1. Fullerton, Gordon, 2011. "Creating advocates: The roles of satisfaction, trust and commitment," Journal of Retailing and Consumer Services, Elsevier, vol. 18(1), pages 92-100.
    2. Timilehin Olasoji OLUBIYI, 2022. "MEASURING TECHNOLOGICAL CAPABILITY AND BUSINESS PERFORMANCE POST-COVID ERA: EVIDENCE FROM SMALL AND MEDIUM-SIZED ENTERPRISES(SMEs) IN NIGERIA," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 0(2), pages 234-248, November.
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