The Study On The Strategies Of Improving Individual Customer's Loyalty Toward Bank A

With the development of China's economy and the continuous advancement of financial reform,domestic commercial banks have been facing fierce competition and challenges from all sides.The business opportunities and potential of the personal financial services market have brought great impetus for commercial banks to enhance their market competitiveness and to improve their market shares.Personal business has become a'must' to every bank as it is a stable source of commercial bank profits and the basis of sustainable development.The important management goal of commercial banks has become to know how to improve individual customer's loyalty through effective customer care in order to reduce customer turnover rate and to win more valuable customer resources.In the paper,the author has selected the Y Branch of A Bank as the research object.On the basis of a thorough literature review on the related theories of customer relationship management and customers loyalty,the author has undertaken an evidence-based study on the customer loyalty of the Commercial Bank A.Firstly,the existing problems were pointed out by analyzing the present situation of individual customer's loyalty management of bank A.Then,on the basis of simplifying and modifying the existing customer loyalty model,author has designed a questionnaire of individual customer's loyalty of the Commercial Bank and analyzed the primary survey data.Finally,the relationship between the various factors of customer loyalty of the Commercial Bank A has been discussed using the correlation analysis method and the regression analysis method.According to the research results,customer satisfaction can be explained by service quality and customer perceived value.Customer satisfaction directly affects the four dimensions of customer loyalty on varying degrees.Moreover,those four dimensions of customer loyalty,in turn,have an impact on loyalty at a higher level.The paper put forward the corresponding customer loyalty improving strategies from two aspects,which are improving customer satisfaction and promoting the transformation of customer loyalty levels.