A Framework for Customer Engagement Behaviour in the Financial Services Industry : A Critical Review of Evidence

Authors

  •   Archana Nayak Kini Dr. TMA Pai PhD Research Scholar, Manipal Institute of Management, Manipal Academy of Higher Education, Manipal - 576104, Karnataka
  •   Savitha Basri Associate Professor, Manipal Institute of Management, Manipal Academy of Higher Education, Manipal - 576 104, Karnataka

DOI:

https://doi.org/10.17010/ijf/2022/v16i6/169925

Keywords:

Customer Engagement Behavior

, Customer Empowerment, Trust, Financial Services, Customer Advocacy, Attitudinal Loyalty.

JEL Classification Codes

, G0, G20, M31.

Paper Submission Date

, May 15, 2021, Paper sent back for Revision, March 23, 2022, Paper Acceptance Date, April 30, Paper Published Online, June 15, 2022.

Abstract

In the post-COVID era, while the use of technology-enabled contactless financial services is growing, it is more critical than ever to match the rising customer expectations by aiding customers in making the best decisions and fulfilling their aspirations. The paper’s objective was to critically review published research on the antecedents of non-transactional customer engagement behaviors (CEBs), such as relationship quality, emotions, customer empowerment, and the influence of the CEBs on customer loyalty and advocacy in the financial services industry. Relevant online databases were comprehensively searched through Boolean search, reviewed critically, and synthesized narratively. The guidelines of PICO (participants, interventions, comparisons, outcomes) were followed. The final results indicated that an empowered, satisfied, highly pre-dispositional customer possessing different affective states and trust reciprocated positive engagement behaviors (CEBs). The positive CEBs build attitudinal loyalty and advocacy behaviors that create value in the long term. This review guided on managing customer tendencies to positively and emotionally engage with the product and brand in many ways, such as reviews and testimonials, to curtail switch-over behaviors, encourage customer advocacy, and loyalty behaviors.

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Author Biographies

Archana Nayak Kini, Dr. TMA Pai PhD Research Scholar, Manipal Institute of Management, Manipal Academy of Higher Education, Manipal - 576104, Karnataka

ORCID iD : https://orcid.org/0000-0002-3512-4180

Savitha Basri, Associate Professor, Manipal Institute of Management, Manipal Academy of Higher Education, Manipal - 576 104, Karnataka

ORCID iD : https://orcid.org/0000-0002-0402-403X

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Published

2022-06-01

How to Cite

Kini, A. N., & Basri, S. (2022). A Framework for Customer Engagement Behaviour in the Financial Services Industry : A Critical Review of Evidence. Indian Journal of Finance, 16(6), 27–43. https://doi.org/10.17010/ijf/2022/v16i6/169925

Issue

Volume 16, Issue 6, June 2022

Section

Articles
Crossref
Scopus
Google Scholar
Europe PMC

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