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Determinants of customer recovery in retail banking - lessons from a German banking case study

  • Due to the increased willingness of retail banking customers to switch and churn their banking relationships, a question arises: Is it possible to win back lost customers, and if so, is such a possibility even desirable after all economic factors have been considered? To answer these questions, this paper examines selected determinants for the recovery of terminated customer–bank relationships from the perspective of former customers. This study therefore evaluates for the first time, empirically and systematically with reference to a German Sparkasse as a case-study setting, whether lost customers have a sufficient general willingness to return (GWR) a retail banking relationship. From our results, a correlation is shown between the GWR a banking relationship and some specific determinants: seeking variety, attractiveness of alternatives and customer satisfaction with the former business relationship. In addition, we show that a customer’s GWR varies depending on the reason for churn and is surprisingly greater when the customer defected for reasons that lie within the scope of the customer himself. Despite the case-study character, however, our results provide relevant insights for other banks and, in particular, this applies to countries with a comparable banking system.

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Author of HS ReutlingenCharifzadeh, Michel
Erschienen in:Journal of financial services marketing
Publisher:Palgrave Macmillan
Place of publication:Basingstoke
Document Type:Journal article
Publication year:2023
Tag:customer recovery management; dissonance theory; general willingness to return; retail banking
Page Number:28
PPN:Im Katalog der Hochschule Reutlingen ansehen
DDC classes:330 Wirtschaft
Open access?:Ja
Licence (German):License Logo  Creative Commons - CC BY - Namensnennung 4.0 International