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Digital Customer Experience Mapping in Russian Premium Banking

Author

Listed:
  • Galina Timokhina

    (Marketing Department, Marketing Faculty, Plekhanov Russian University of Economics, Stremyanny Lane, 36, 117997 Moscow, Russia)

  • Lyubov Prokopova

    (Marketing Department, Marketing Faculty, Plekhanov Russian University of Economics, Stremyanny Lane, 36, 117997 Moscow, Russia
    Russian Research Company Frank RG, Leningradsky Avenue, 37, 125167 Moscow, Russia)

  • Yuri Gribanov

    (Russian Research Company Frank RG, Leningradsky Avenue, 37, 125167 Moscow, Russia)

  • Stanislav Zaitsev

    (Russian Research Company Frank RG, Leningradsky Avenue, 37, 125167 Moscow, Russia)

  • Natalia Ivashkova

    (Marketing Department, Marketing Faculty, Plekhanov Russian University of Economics, Stremyanny Lane, 36, 117997 Moscow, Russia)

  • Roman Sidorchuk

    (Marketing Department, Marketing Faculty, Plekhanov Russian University of Economics, Stremyanny Lane, 36, 117997 Moscow, Russia)

  • Irina Skorobogatykh

    (Marketing Department, Marketing Faculty, Plekhanov Russian University of Economics, Stremyanny Lane, 36, 117997 Moscow, Russia)

  • Anatoly Shishkin

    (Marketing Department, Marketing Faculty, Plekhanov Russian University of Economics, Stremyanny Lane, 36, 117997 Moscow, Russia)

  • Zhanna Musatova

    (Marketing Department, Marketing Faculty, Plekhanov Russian University of Economics, Stremyanny Lane, 36, 117997 Moscow, Russia)

Abstract

The purpose of this study is to identify, in an era of extensive digitalization, the major opportunities and threats that influence the experiences of digital premium banking customers at key stages of their banking interactions. This study’s conceptual research model combines the content of online questionnaires, completed by a representative sample of 3629 customers, in-depth interviews with heads of premium banking departments, and an audit of customer experiences conducted via Mystery Shopping in 13 Russian banks. The authors formulate four research hypotheses, substantiated by the empirical data and highlight key barriers preventing premium banks from effective digital interactions with their customers. Key opportunities for improving customer experiences are also identified. The theoretical contribution of the research includes the adaptation of an axiological approach to studying digital customers in premium banking. Practical contributions include the Premium Digital Customer Experience Map, designed by the authors as a ready-made tool for planning and improving premium banking services and a tool for performance comparison between competing banks. This study also discusses the authors’ definition of a “digital customer”. It presents a new approach to the Mystery Shopping methodology, including the recruitment of Mystery Shoppers following the three premium banking customer portraits: “saver”, “spender”, and “saver–spender”.

Suggested Citation

  • Galina Timokhina & Lyubov Prokopova & Yuri Gribanov & Stanislav Zaitsev & Natalia Ivashkova & Roman Sidorchuk & Irina Skorobogatykh & Anatoly Shishkin & Zhanna Musatova, 2021. "Digital Customer Experience Mapping in Russian Premium Banking," Economies, MDPI, vol. 9(3), pages 1-24, August.
    • Handle: RePEc:gam:jecomi:v:9:y:2021:i:3:p:108-:d:609140
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    References listed on IDEAS

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    1. Claudia Tarantola & Paola Vicard & Ioannis Ntzoufras, 2012. "Monitoring and Improving Greek Banking Services Using Bayesian Networks: an Analysis of Mystery Shopping Data," Quaderni di Dipartimento 160, University of Pavia, Department of Economics and Quantitative Methods.
    2. Galina S. TIMOKHINA, 2019. "Behaviour of high-income consumers: Results of research of the private banking services market in Russia," Upravlenets, Ural State University of Economics, vol. 10(4), pages 85-97, September.
    3. Kei Aoki & Efua Obeng & Aberdeen Leila Borders & Deborah H. Lester, 2019. "Can brand experience increase customer contribution: How to create effective sustainable touchpoints with customers?," Journal of Global Scholars of Marketing Science, Taylor & Francis Journals, vol. 29(1), pages 51-62, January.
    4. Karine Alexandrovna Barmuta & Vadim Vitalievich Ponkratov & Maksim Maramygin & Nikolay Vladimirovich Kuznetsov & Vitali Ivlev & Marina I. Ivleva, 2019. "Mathematical model of optimizing the balance sheet structure of the Russian banking system with allowance for the foreign exchange risk levels," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(1), pages 484-497, September.
    5. Marta Frasquet-Deltoro & Alejandro Molla-Descals & Maria-Jose Miquel-Romero, 2021. "Omnichannel retailer brand experience: conceptualisation and proposal of a comprehensive scale," Journal of Brand Management, Palgrave Macmillan, vol. 28(4), pages 388-401, July.
    6. Naylor, Gillian & Kleiser, Susan Bardi & Baker, Julie & Yorkston, Eric, 2008. "Using transformational appeals to enhance the retail experience," Journal of Retailing, Elsevier, vol. 84(1), pages 49-57.
    7. Wang, Yang & Xiuping, Sui & Zhang, Qi, 2021. "Can fintech improve the efficiency of commercial banks? —An analysis based on big data," Research in International Business and Finance, Elsevier, vol. 55(C).
    8. Dholakia, Utpal M. & Kahn, Barbara E. & Reeves, Randy & Rindfleisch, Aric & Stewart, David & Taylor, Earl, 2010. "Consumer Behavior in a Multichannel, Multimedia Retailing Environment," Journal of Interactive Marketing, Elsevier, vol. 24(2), pages 86-95.
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    Cited by:

    1. Ekaterina A. Potapova & Maxim O. Iskoskov & Natalia V. Mukhanova, 2022. "The Impact of Digitalization on Performance Indicators of Russian Commercial Banks in 2021," JRFM, MDPI, vol. 15(10), pages 1-20, October.

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