Brand Communication and Its Influence on Brand Loyalty in the Banking Industry: The Case of First National Bank Customers
摘要
This chapter explores whether brand communication effectively influences South African customers to remain loyal to a specific bank, in this case, First National Bank. The second aim is to determine the communication channels that are used by the bank to communicate directly and indirectly with its customers. Lastly, it aims to provide insight into the elements of brand communication that are most effective for a bank and its customers. A quantitative research design was followed with the application of a non-probability convenience sampling method to select First National Bank customers. For data collection, self-administered questionnaires were distributed to 500 customers to secure sufficient feedback for the sample size of 400 responses. Online channels were used for the distribution of the questionnaires. The study found that, overall, customers of First National Bank find the bank’s communication to be effective, and consequently, it reflects a positive influence on their loyalty. The study concludes by highlighting the relationship between brand communication and brand loyalty in the banking sector. Moreover, the study recommends that banks incorporate communication strategies as part of their overall business strategies to increase customer and brand loyalty. Future research should provide other factors influencing brand loyalty in the banking sector, such as customers’ income, culture, and access to technology.