Article Details

A Study on Effectiveness of Customer Retention Strategies Factors in Banking Sector | Original Article

Geeta Rani*, Asha ., in International Journal of Information Technology and Management | IT & Management

ABSTRACT:

Competition among banks is fierce, and non-banks and other financial firms are also major rivals. The problem is that it's really simple to replicate a financial product, and in the end, they all essentially do the same thing. Customer retention is a wide and complicated notion, and it is possible that many factors contribute to it. This paper study Customer service quality, customer happiness, switching costs, customer relationships, trust, and bank pricing were among the few determinants of customer retention that were examined in this study. India has a highly competitive banking sector thanks to the existence of public, private, and international institutions. banks, faced with an increasingly competitive market, are implementing strategies to keep as many of their current clients as possible. Keeping current customers happy is crucial in today's cutthroat business climate. The bank has to go above and beyond its basic functions to provide its clients a satisfying banking experience.