Brand communication and its influence on brand loyalty in the banking industry : an evaluation of First National Bank Customers

Abstract

This study was conducted with the aim to investigate whether brand communication is effective in influencing South African customers to remain loyal to a specific bank, in this case, First National Bank, or if there are other factors that influence brand loyalty. The study was based on a quantitative research design. A non-probability convenience sampling method was implemented to reach First National Bank customers. To collect data, self-administered questionnaires were distributed to 500 First National Bank customers in order to secure sufficient responses for the sample size of 400 responses using online channels with customers residing in South Africa. The study found that, overall, customers of First National Bank find the bank’s communication to be effective and as a result reflect a positive influence on their loyalty. The study also found other factors that positively influence brand loyalty, such as trust of the security systems of the bank and trust of the bank itself. The study concluded its findings by highlighting that a relationship between brand communication and brand loyalty exists within the banking sector. The study recommends that banks should incorporate communication strategies as part of the overall business strategies to increase customer and brand loyalty. The researcher further recommends future research to include and explain other factors that influence brand loyalty in the banking sector, such as customers’ income, culture, and access to technology