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Creating Satisfaction, Loyalty, and Competitive Advantage for Banking Industry: The Roles of Customer Relationship Management (CRM) in the Digital Era

In: Proceedings of the BISTIC Business Innovation Sustainability and Technology International Conference (BISTIC 2022)

Author

Listed:
  • Cesya Rizkika Parahiyanti

    (Universitas Negeri Malang, Management Department)

  • Suryo Hadi Wira Prabowo

    (Universitas Negeri Malang, Management Department)

  • Yana Respati Dewi

    (Universitas Negeri Malang, Management Department)

  • Norzalita Abd Aziz

    (Universitas Negeri Malang, Management Department
    Universiti Kebangsaan, Graduate School of Business)

  • Eva Yunitasari

    (Universitas Negeri Malang, Management Department)

Abstract

This study aims to measure the role of customer relationship management in building satisfaction, loyalty, and competitive advantage in the banking industry in Indonesia. The survey results from 201 respondents who were processed using partial least squares analysis showed that CRM in the banking industry must pay attention to customer relationships through a customer approach, especially customer empowerment and customer orientation. CRM also influences customer satisfaction, loyalty, and competitive advantage in the banking industry. Satisfaction also acts as a mediation for CRM in creating loyalty and competitive advantage. In terms of application, the banking industry is recommended to continue to develop customer relationships by being oriented to the convenience of customer transactions. With the implementation of CRM, banks can survive the increasingly fierce competition in financial services.

Suggested Citation

  • Cesya Rizkika Parahiyanti & Suryo Hadi Wira Prabowo & Yana Respati Dewi & Norzalita Abd Aziz & Eva Yunitasari, 2023. "Creating Satisfaction, Loyalty, and Competitive Advantage for Banking Industry: The Roles of Customer Relationship Management (CRM) in the Digital Era," Advances in Economics, Business and Management Research, in: Dediek Tri Kurniawan & Ika Zutiasari (ed.), Proceedings of the BISTIC Business Innovation Sustainability and Technology International Conference (BISTIC 2022), pages 380-392, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-178-4_38
    DOI: 10.2991/978-94-6463-178-4_38
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