Brand loyalty in FinTech services: The role of self-concept, customer engagement behavior and self-brand connection
The concurrent effects of customer predispositions, customer engagement behaviour (CEB) and self-brand connections (SBC) on loyalty are less understood. This article will examine how relationship quality and consumer predispositions (self-concept, brand communal focus) affect loyalty, with customer...
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| Format: | Article |
| Language: | English |
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Elsevier
2024-03-01
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| Series: | Journal of Open Innovation: Technology, Market and Complexity |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2199853124000349 |
| _version_ | 1827289815312236544 |
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| author | Archana Nayak Kini Basri Savitha Iqbal Thonse Hawaldar |
| author_facet | Archana Nayak Kini Basri Savitha Iqbal Thonse Hawaldar |
| author_sort | Archana Nayak Kini |
| collection | DOAJ |
| description | The concurrent effects of customer predispositions, customer engagement behaviour (CEB) and self-brand connections (SBC) on loyalty are less understood. This article will examine how relationship quality and consumer predispositions (self-concept, brand communal focus) affect loyalty, with customer engagement behaviour and self-brand connection acting as mediating factors. A cross-sectional survey with a quantitative study design was used to gather information from 380 users of FinTech apps in the Indian state of Karnataka. The main findings indicate that self-concept does not generate loyalty by itself but rather fosters loyalty through the mediation of SBC and CEBs. Similarly, a trusted and satisfied customer remains brand loyal. A sense of communal focus among consumers results in self-brand connections only if they are positively engaged with the brand. Customer interactions and engagement in social media can have a significant impact on the development of digital self-brand relationships. Contrary to the literature, we found that positive engagement fosters loyalty only if it leads to brand connection. Repeat patronage and willingness to buy new products or price insensitivity depend on strong emotional brand connections and CEBs. Hence, FinTech companies should match their experiences, offerings, and brand messages to the way that consumers view themselves. To engage customers in new ways and establish a connection with them, they should also offer stimulating and compelling virtual experiences on their platforms. Therefore, FinTech consumers can maintain brand loyalty through self-brand connections and brand engagement through self-concepts. |
| first_indexed | 2024-03-07T20:05:01Z |
| format | Article |
| id | doaj.art-5e5722653e6944c2b2ab749cb051c713 |
| institution | Directory Open Access Journal |
| issn | 2199-8531 |
| language | English |
| last_indexed | 2024-04-24T11:56:28Z |
| publishDate | 2024-03-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of Open Innovation: Technology, Market and Complexity |
| spelling | doaj.art-5e5722653e6944c2b2ab749cb051c7132024-04-09T04:13:02ZengElsevierJournal of Open Innovation: Technology, Market and Complexity2199-85312024-03-01101100240Brand loyalty in FinTech services: The role of self-concept, customer engagement behavior and self-brand connectionArchana Nayak Kini0Basri Savitha1Iqbal Thonse Hawaldar2Directorate of Online Education, Manipal Academy of Higher Education, Manipal, Karnataka 576104, IndiaDepartment of Commerce, Manipal Academy of Higher Education, Manipal, Karnataka 576104, IndiaDepartment of Accounting & Finance, College of Business Administration, Director, Accreditation & Quality Assurance Centre, Kingdom University, Bahrain; Corresponding author.The concurrent effects of customer predispositions, customer engagement behaviour (CEB) and self-brand connections (SBC) on loyalty are less understood. This article will examine how relationship quality and consumer predispositions (self-concept, brand communal focus) affect loyalty, with customer engagement behaviour and self-brand connection acting as mediating factors. A cross-sectional survey with a quantitative study design was used to gather information from 380 users of FinTech apps in the Indian state of Karnataka. The main findings indicate that self-concept does not generate loyalty by itself but rather fosters loyalty through the mediation of SBC and CEBs. Similarly, a trusted and satisfied customer remains brand loyal. A sense of communal focus among consumers results in self-brand connections only if they are positively engaged with the brand. Customer interactions and engagement in social media can have a significant impact on the development of digital self-brand relationships. Contrary to the literature, we found that positive engagement fosters loyalty only if it leads to brand connection. Repeat patronage and willingness to buy new products or price insensitivity depend on strong emotional brand connections and CEBs. Hence, FinTech companies should match their experiences, offerings, and brand messages to the way that consumers view themselves. To engage customers in new ways and establish a connection with them, they should also offer stimulating and compelling virtual experiences on their platforms. Therefore, FinTech consumers can maintain brand loyalty through self-brand connections and brand engagement through self-concepts.http://www.sciencedirect.com/science/article/pii/S2199853124000349Self-conceptFinTechSelf-brand connectionRelationship qualityCustomer engagement behaviorLoyalty |
| spellingShingle | Archana Nayak Kini Basri Savitha Iqbal Thonse Hawaldar Brand loyalty in FinTech services: The role of self-concept, customer engagement behavior and self-brand connection Journal of Open Innovation: Technology, Market and Complexity Self-concept FinTech Self-brand connection Relationship quality Customer engagement behavior Loyalty |
| title | Brand loyalty in FinTech services: The role of self-concept, customer engagement behavior and self-brand connection |
| title_full | Brand loyalty in FinTech services: The role of self-concept, customer engagement behavior and self-brand connection |
| title_fullStr | Brand loyalty in FinTech services: The role of self-concept, customer engagement behavior and self-brand connection |
| title_full_unstemmed | Brand loyalty in FinTech services: The role of self-concept, customer engagement behavior and self-brand connection |
| title_short | Brand loyalty in FinTech services: The role of self-concept, customer engagement behavior and self-brand connection |
| title_sort | brand loyalty in fintech services the role of self concept customer engagement behavior and self brand connection |
| topic | Self-concept FinTech Self-brand connection Relationship quality Customer engagement behavior Loyalty |
| url | http://www.sciencedirect.com/science/article/pii/S2199853124000349 |
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