Research On Customer Loyalty Of Wealth Management Products Of BH Bank Baotou Branch

In the case of high homogenization of financial products and services of domestic commercial banks,the effectiveness of commercial banks' loyalty management will directly affect the number of high-quality customers of banks.Generally speaking,customers tend to choose products of banks which they have higher loyalty.Thus,owning a large number of financial clients with high loyalty will bring continuous market size and profit to commercial banks.This paper starts with the breakthrough point of the customer loyalty of financial products of commercial banks,meanwhile,it combines customer satisfaction theory? relationship trust and switching costs,after the specific study on the financial customer loyalty of BH Bank BaoTou branch,we found that the current BH bank's financial products have a certain competitiveness on the market,part of the financial products in the market are demanded continuously,the result is mainly due to higher-yielding bank financial products,set up exclusive wealth manager to maintain the customer,invite professional institutions for financial account manager training,and timely to provide additional gifts.Secondly,by analyzing the 290 valid questionnaire,we found that although most of the customers are more approbated on the financial products,service quality,brand value and influence of BH bank,however,their loyalty to the products of BH Bank are still low.Thirdly,after further analysis of the questionnaire,we found that although the customer loyalty management to BH bank's financial products has made certain achievements,some problems still exist,listed as follows: first,the structure of wealth management products needs to be constantly optimized;the Second,the effective communication between financial account managers of BH bank and customers is insufficient;Third,the efficiency of financing business transaction of BH bank is relatively low,customers at the counter often need to wait for a long time;The last one is the conversion cost of financing customer of BH bank is low.Finally,based on the customer loyalty management theory and the questionnaire analysis results and my work experience,some suggestions are proposed in this paper to promote the customer loyalty of BH bank BaoTou branch.Specific to include: 1.to optimize BH bank financial product structure continuously,take the independent financial products as the core,to build star wealth management products;At the same time,to recommend agent type wealth management products based on the customer's demand.2.steadily improve the level service of the financial account manager of BH bank,continuously implement differentiated financial manager management system,.fully use the CRM system to establish long-term trust relationship with customers.3.continue to improve the efficiency of financial services,reduce the waiting time of customers at the counter,and increase the publicity and guidance of non-counter business channels.4.Improve the retention rate of existing customers and reduce the customer churn rate by cross-marketing and increasing the transfer cost of financial clients.This paper has practical reference value for improving the customer loyalty of other commercial Banks in China.