Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/308447 
Year of Publication: 
2023
Citation: 
[Journal:] Journal of Financial Services Marketing [ISSN:] 1479-1846 [Volume:] 29 [Issue:] 3 [Publisher:] Palgrave Macmillan [Place:] London [Year:] 2023 [Pages:] 655-682
Publisher: 
Palgrave Macmillan, London
Abstract: 
Due to the increased willingness of retail banking customers to switch and churn their banking relationships, a question arises: Is it possible to win back lost customers, and if so, is such a possibility even desirable after all economic factors have been considered? To answer these questions, this paper examines selected determinants for the recovery of terminated customer–bank relationships from the perspective of former customers. This study therefore evaluates for the first time, empirically and systematically with reference to a German Sparkasse as a case-study setting, whether lost customers have a sufficient general willingness to return (GWR) a retail banking relationship. From our results, a correlation is shown between the GWR a banking relationship and some specific determinants: seeking variety, attractiveness of alternatives and customer satisfaction with the former business relationship. In addition, we show that a customer's GWR varies depending on the reason for churn and is surprisingly greater when the customer defected for reasons that lie within the scope of the customer himself. Despite the case-study character, however, our results provide relevant insights for other banks and, in particular, this applies to countries with a comparable banking system.
Subjects: 
Dissonance theory
Retail banking
Customer recovery management
General willingness to return
JEL: 
G20
G21
G28
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

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