Identifying and ranking critical success factors of customer experience in banks

Abstract

PurposeThe purpose of this paper is to identify and evaluate the critical success factors which make the dimensions for measuring customer experience (CE) in banking organizations more effective and purposeful. These critical success factors have been prioritized in order to find out which is more important for the five threshold dimensions to achieve favourable CE.Design/methodology/approachThe paper examines the critical success factors of CE which have been identified from the literature survey and through expert's opinion have finally confirmed in context of this study on banking organizations. Further, analytic hierarchy process (AHP) has been used in order to evaluate the identified 14 critical factors of CE and to find their priorities for success in banking organizations.FindingsOn the basis of the proposed hierarchical model, the findings suggest that the factors such as convenience, employees, online functional elements, and servicescape are critical for measuring CE in banking organizations.Research limitations/implicationsIn the literature, it is assumed that the criteria for measuring CE are mutually exclusive. But it has been found that in the real world these criteria may sometimes depend on one other, particularly in banking organizations. Therefore, in order to resolve such issues it is advised that future research may apply analytic network process (ANP).Practical implicationsThe findings suggest that the managers in banking organizations must ameliorate these critical factors according to their weights, in order to attain favourable CE, sustainable competitive advantage and customer delight.Originality/valueBecause of the subjective nature of CE, AHP serves as an empirical approach in prioritization of critical success factors of CE, which has been a major lacuna in available literature. The results presented in this paper are objective, reliable, and may be generalized for measuring CE in banking organizations.

Model of Customer Experience and Purchase Intention in Online Environment

“…Additionally, the center of attention in customer perspective is the experience that they acquire when they utilize products and services (Biswas, 2009). Similarly, in terms of maximizing profitability and brand awareness among customers to enhance loyalty among customers, organizations have to pass the hurdle by providing magnificent experience to customers (Garg, Rahman, Qureshi, & Kumar, 2012;Ismail, 2011). According to a survey by Gurley (2000), it was predicted that customers are filling their online purchasing form but without any purchasing activity, they quit the sequence.…”

Identifying and prioritizing the factors of service experience in banks: A Best-Worst method

“…Garg et al (2012Garg et al ( , 2014, for instance identified the success criteria and sub-criteria of bank service experience including the affective (customization, core service, online hedonic elements and value addition), sensorial (servicescape and online aesthetics), cognitive (convenience, marketing mix and online functional elements), behavioral (employees, speed, service process), and rational (customer interaction and presence of other customers) aspects. The cognitive factor was the most significant among all the main criteria and convenience factor is the most important among all the sub-criteria in service experience success (Garg et al, 2012(Garg et al, , 2014. Grace and O'cass (2004) also indicated that the core service, employee service, and servicescape make a very significant contribution to the service experience respectively (Grace & O'Cass, 2004).…”

http://journalijcar.org/issues/using-multi-criteria-decision-making-approaches-evaluating-and-selecting-website-literature

“…None of the quality attributes of E-S-QUAL were regarded as attractive attributes. Garg et al (2012) the analytic hierarchy process (AHP) was used in order to evaluate the identified 14 critical factors of CE and to find their priorities for success in banking organizations.…”