Communication, customer relationship and value creation in the banking system: an empirical evidence

Purpose
: Customers have showed a greater disaffection with regard to the quality of banking services. This element constitutes a fundamental aspect since the competition between banks will turn from the activities to the relationship with and the defence of the customer base. The banking business model will have to be re-thought and the level of service will be the key criteria of the banking offer. In this context, the paper investigates different clusters of Italian banks in order to verify if and to which extent the communication plays a role in creating the brand image of the bank and in promoting a strong relationship with customers. More specifically, the paper aims to verify if the communication is a critical basic attribute for banks that still operate on a stand-alone basis such as the cooperative banks. Methodological approach
: The paper begins with the analysis of the literature available with particular reference to communication, brand and value creation. The field research will be conducted in two steps. Step 1 is a qualitative analysis that aims to base the first empirical verification on experience and obtain information to set the quantitative questionnaire. Following and Marbach’s (2000) recommendations, the modality will be a customer focus research on clients belonging to different clusters of banks (i.e. stand-alone banks, banks acquired by larger banks). Step 2 is a quantitative analysis that aims to extend the validity of the results of the qualitative phase and acquire information for writing the paper. The method will be by a questionnaire with targets relating to different groups of customers. The elements to be analyzed/verified will be tangible aspects and intangible aspects. Expected results: The first finding is to determine which key factors are fundamental for improving the quality of communication in the banking system. The second finding is the ability of a bank to reinforce its competitive position by reinforcing the role of communication while maintaining a strong relationship with customers. This study provides empirical evidence of how a bank can benefit from following a communication-oriented strategy to improve the satisfaction of the customer base and uphold its competitive advantage in the modern banking system.