Contacting Clients for Their Satisfaction Proposal Essay

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Introduction

Numerous financial constraints force banks to broaden the range of services provided and promotional programs to attract new customers and, more importantly, increase loyalty of existing clients. Development of proper bank-client relationship is the key strategy all banks are trying to employ (Swenson, Palmer & Silver, 2011). Contacting clients is becoming one of the most important and effective ways to increase their satisfaction and loyalty (Fragata & Moustakas, 2013; Mandal & Bhattacharya, 2013). Clearly, technological advances provide a variety of options to achieve this goal. Some of the most widespread ways to reach customers are still emails and calls.

Statement of the Problem and Research Questions

It has been acknowledged that these are efficient ways to reach clients, but it is still rather unclear whether these types of contacts affect customer’s satisfaction. Therefore, it is important to understand whether contacting clients leads to their satisfaction or may deteriorate customers’ loyalty. It is necessary to pay attention to such issues as security, efficiency, frequency.

Literature Review

Researchers stress that customers find m-banking convenient and satisfactory (Awadhi, 2013). However, clients’ satisfaction is a complex concept and the issue needs further research. Thus, Coetzee, van Zyl and Tait (2013) found that clients and contact-personnel have different perceptions of service quality. Popescu and Rizescu (2008) note that contacting clients may positively affect development of the banking services as the personnel may better understand clients’ needs. At the same time, Ledgerwood, Earne and Nelson (2013) note that when contacting clients, banking personnel can and sometimes should educate and train them on certain issues. It is necessary to note that a significant bulk of literature is devoted to security issues. For instance, Callaway and Becker (2011) stress that banking personnel should be more attentive and responsible with elderly clients as this is the most vulnerable group and banking staff should assist these people to manage their accounts (especially when it comes to online and m-banking). Atansuyi, Olorisade and Ogunrinde (2014) argue that a 7-digit code given to customers can increase their privacy and security during calls. Priess (2014) provides certain options to prevent fraud in m-banking.

Research questions

The research questions of this research can be formulated as follows:

  1. Which type of contacts do customers prefer (e-mail, mobile calls, texts)?
  2. What factors effect clients’ preferences (age, gender, education, employment)?
  3. Do clients think these contacts are satisfactory, necessary or useless and tiresome?
  4. What is the most appropriate frequency of such contacts?

Methods and Procedures

To respond to the research questions outlined, it is possible to utilize a mixed research approach. Quantitative and elements of qualitative method will be utilized. Participants of the survey will complete questionnaires. The questionnaires will include such data as age, gender, race, attitudes towards contacts with the bank, degree of satisfaction and so on. The questionnaires will be sent and received online. It is important to address a diverse cohort of participants. To make the research relevant, 500 participants will take part. Social networks, an educational establishment, a geriatric home and certain companies will be addressed. A consent to involve students, elderly people and employees from an educational establishment, a geriatric home and top management of a number of companies will be received. Companies involved in different spheres and employees with different amount of workload will be addressed. Social networks will help reach such groups of people as unemployed and housewives.

Limitations

This research has a number of limitations. People living in the local area will participate which may affect the results of the research. The number of participants is also quite limited due to the lack of time.

Reference

Atansuyi, M.O., Olorisade, B.K., & Ogunrinde, MA. (2014). A privacy control option for call centers in Nigeria’s cashless economy. Proceedings of the World Congress on Engineering and Computer Science, I, 22-24.

Awadhi, A.A. (2013). Adoption and acceptance of m-banking system in Kingdom of Bahrain. International Journal of Information and Communication Technology Research, 3(2), 56-63.

Callaway, L., & Becker, J. (2011). Stopping the financial abuse of seniors. ABA Bank Compliance, 11-17.

Coetzee, J., & van Zyl, H. & Tait, M. (2013). Perceptions of service quality by clients and contact-personnel in the South African retail banking sector. Southern African Business Review, 17(1), 1-22.

Fragata, A., & Moustakas, E. (2013). Investigating the determinants of e-banking loyalty for large business customers: Two empirical models. Journal of Economics, Business and Management, 1(2), 204-208.

Ledgerwood, J., Earne, J., & Nelson, C. (2013). The new microfinance handbook: A financial market system perspective. Washington, DC: World Bank Publications.

Mandal, P.C., & Bhattacharya, S. (2013). Customer satisfaction in Indian retail banking: A grounded theory approach. The Qualitative Report, 18(56), 1-21.

Popescu, J., & Rizescu, S. (2008). Banking products and services according to clients’ requests. Finance – Challenges of the Future, VII(7), 105-110.

Priess, C. (2014). Fake forgetfulness flags fraud. Banknotes, 40(3), 16-17.

Swenson, K.D., Palmer, N., & Silver, B. (2011). Taming the unpredictable: Real world adaptive case management: case studies and practical guidance. Washington, DC: Future Strategies Inc.

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IvyPanda. (2022, January 24). Contacting Clients for Their Satisfaction. https://ivypanda.com/essays/contacting-clients-for-their-satisfaction/

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"Contacting Clients for Their Satisfaction." IvyPanda, 24 Jan. 2022, ivypanda.com/essays/contacting-clients-for-their-satisfaction/.

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IvyPanda. (2022) 'Contacting Clients for Their Satisfaction'. 24 January.

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IvyPanda. 2022. "Contacting Clients for Their Satisfaction." January 24, 2022. https://ivypanda.com/essays/contacting-clients-for-their-satisfaction/.

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IvyPanda. "Contacting Clients for Their Satisfaction." January 24, 2022. https://ivypanda.com/essays/contacting-clients-for-their-satisfaction/.

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