Marketing of financial services and customer loyalty in the Nigerian banking sector

Abstract

In a highly competitive environment of the banking service sector, customer loyalty is a must for the banks in order to maintain their market share. This provided the impetus for the study reported. Data analyses revealed that bank’s cleanliness, friendly staff and bank proximity are part of the factors that attract customers to the banks and customer’s loyalty is enhanced by the
marketing strategy of the banks, which eventually improved their performance. It was therefore concluded that banks must invest more in financial service marketing strategies that would help to keep their customers. We thus, recommended that service points at the bank be well trained
and disciplined in order to build good relationship with customers, and introduce new technologies that would build confidence in the customers.