Research On Customer Loyalty Of Private Bank In Changsha Branch Of Bank Of Z

In recent years,the highly competitive financial market in the banking industry combined with multiple factors such as the COVID-19,the cooling of the real estate market,and the regulation of local debt,coupled with the rapid accumulation of family wealth in China,the rapid expansion of investment and financing scale and other backgrounds,the banking financial institutions urgently need to seek new profit growth poles.Market demand generates market supply,and China’s banking financial institutions quickly began to explore the private banking business market.In 2012,the private bank of Changsha Branch of Bank Z came into being,and I have also been working here.The problem of customer loss has also been troubling the development of the private bank of Changsha Branch.Therefore,this paper studies the problem of customer loyalty of private banks in Changsha Branch of Bank Z,with a view to putting forward useful suggestions for customer loyalty management of private banks in Changsha Branch,and providing theoretical and quantitative analysis support for customer loyalty management of private banks in China.This paper mainly carries out research through the following aspects: First,define the concepts of private banking and customer grading,sort out the customer relationship management,customer satisfaction and relationship marketing theories related to customer loyalty,and carry out mechanism analysis on the factors affecting customer loyalty of private banking based on comprehensive theoretical basis;Secondly,it introduces the general situation of the private bank of Changsha Branch of Bank of Z,analyzes the competitiveness of the private bank of Changsha Branch from four aspects of brand building and customer expansion,and analyzes the reasons for customer loss based on work experience;Thirdly,on the basis of theoretical mechanism analysis,five dimensions and ten aspects of research variables were selected,and the desensitization data of 421 customers were obtained with the permission of the unit.Logit model was used to analyze the influencing factors of customer churn in Changsha Branch private banking,and the probability of customer churn was predicted;Finally,combining empirical observation and empirical analysis,this paper puts forward countermeasures and suggestions from four aspects: accurately identifying customers,giving play to core advantages,focusing on customers’ attention,and strengthening institutional arrangements.Through research,this paper mainly draws the following conclusions: First,the five dimensions of private banking customers’ basic characteristics,communication and coordination,service income,high-end rights and interests and subjective feelings are important factors that determine customer loyalty.Among them,asset size,dissatisfaction feedback,and on-site handling positively affect customer churn probability at a significant level.Exclusive customer service communication,APP exclusive access,comprehensive income,service fee reduction Gold card has a significant negative impact on customer churn probability.Second,from the perspective of quantitative results and work experience,the advantages of enhancing the loyalty of private banking customers of Bank Z Changsha Branch lie in three aspects: exclusive customer service,APP special area visit and off-site handling.Comprehensive income and service fee reduction are still important factors for private banking customers to consider.Third,because the gap has not been further widened among high-net-worth customers,customer classification and equity items have become the disadvantages of Bank Z’s private bank,and the higher-end customers among high-net-worth customers are vulnerable to loss.Fourth,on the basis of paying more attention to the loss of private bank customers in Bank Z and taking full account of the greater harm of customer loss,this paper quantitatively calculates the threshold of 10% to determine whether customers are lost.Among the customers who are not lost,189 private bank customers have a high probability of loss,which deserves high attention.Compared with the existing research,the innovation of this paper is reflected in two aspects: first,the micro-sample data of the private bank customers of Bank Z are manually sorted out,the factors that affect the loyalty of the private bank customers of Bank Z Changsha Branch are analyzed by quantitative method,and the loss probability of the private bank customers of Bank Z Changsha Branch is predicted;Secondly,based on the literature review and theoretical analysis,the paper selects five dimensions: basic characteristics,communication and coordination,service income,high-end rights and interests,and subjective feelings,and constructs an analysis framework of the factors affecting private bank customer loyalty.The inadequacies of this paper are as follows: First,the data used in the empirical analysis of this paper is cross-sectional data,while private bank customer loyalty is a dynamic process,which can be improved by using panel data in subsequent research;Secondly,due to the desensitization requirements of Bank Z’s private bank customer data,individual variables that also need to be observed cannot be used in this paper.These variables that need to be observed can be further studied by selecting reasonable proxy variables in the follow-up study.