Brand advocacy and customers loyalty of banks in Nigeria

Abstract

The study examined the effects of brand advocacy on customer loyalty of selected banking industry in Delta State. The specific objectives are to, determine the effects of brand advocacy on customer loyalty of selected banks in Delta State and ascertain the effects of online customer reviews on customer loyalty of selected banks in Delta State. Cross-sectional survey research design was adopted for the study. A sample size of 237 respondents was selected from 5 deposit money banks in Asaba, Delta State. The stratified random sampling technique was used for the study. A structured questionnaire was used as the research instrument for the study. Content and validity were taken into consideration to validate the research instrument. To establish the reliability of the instrument, a test-retest method was used. Descriptive statistics like frequency distributions and inferential statistics like correlation and multiple regressions were used to analyze the data collected for the study. Findings showed that the dimensions of brand communication accounts for 53% change in customer loyalty. The study concluded that brand communication has significant positive effect on customer loyalty of deposit money banks in Delta State Nigeria. Brand advocacy (β =0.106, p=0.044< 0.05), and online customers review (β =0.252, p=0.000< 0.05) has significant positive effect on customer loyalty of deposit money banks in Delta State Nigeria. The study recommended amongst others that banks should regularly monitor online customer reviews across various platforms. Respond promptly to both positive and negative reviews, addressing customer concerns and expressing appreciation for positive feedback. The study established that clear and relevant information empowers customers to make informed decisions, leading to a greater likelihood of choosing and remaining loyal to a bank.