Design and Explanation of an Electronic Customer Relationship Management (E-CRM) Model to Enhance Customer Loyalty in Private Banks of Iran

Abstract

Objective: The objective of this study is to design and explain a model of electronic customer relationship management (E-CRM) aimed at increasing customer loyalty in private banks in Iran.  Methodology: This applied research employed a descriptive-survey method, incorporating both qualitative and quantitative approaches. A Delphi panel consisting of 35 experts from private banks contributed to identifying key E-CRM variables. In the quantitative phase, a sample of 384 bank managers and senior experts participated through a questionnaire. Structural equation modeling and PLS software were used for data analysis, ensuring a robust model fit and validation through reliability tests like Cronbach's alpha. Findings: The study identified critical influencing factors for E-CRM, categorized into human, technological, and organizational components. The model showed significant positive impacts on customer satisfaction and loyalty, with technological factors like IT management being the strongest predictors. Customer interaction, value creation, and organizational readiness for change also demonstrated notable influences. The findings support the integration of technological advancements and customer-centric approaches in private banking. Conclusion: The developed E-CRM model effectively enhances customer satisfaction and loyalty in the private banking sector. By focusing on human, technological, and organizational factors, private banks can improve long-term relationships with their customers, fostering increased loyalty. These insights highlight the need for continued investment in customer relationship technologies and staff training for optimal E-CRM performance.