Academy of Strategic Management Journal (Print ISSN: 1544-1458; Online ISSN: 1939-6104)


Advertising Messages and Brand Loyalty in the Banking Sector: A Comparative Analysis of Zenith and Guaranty Trust Bank Customers

Author(s): Babatunde Adeyeye, Stephanie Okeze, Evaristus Adesina, Tolulope Kayode-Adedeji

This study examined how banks can use advertising to increase profitability and influence loyalty. The study specifically sought to ascertain how Zenith and Guaranty Trust bank customers perceive advertising messages; determine the preference of media for advertising messages of Zenith and Guaranty bank to portray a customer-centric relationship at all times and point out the factors that influence the loyalty of customers towards the banks. The survey research design was used, and a sample size of 300 respondents on whom questionnaires were administered for the collection of primary data for the study. At the same time, purposive and simple random sampling techniques were adopted. Findings showed that customers are open to innovations using new media technologies as a source of information. Findings also indicated a significant difference in levels of loyalty between the customers of Zenith Bank and Guaranty Trust Bank. Guaranty Trust Bank customers demonstrated a higher level of loyalty than Zenith bank customers. Hence, the customer satisfaction of a bank's customers motivates their loyalty and desire to sustain their patronage. Conclusions reached by the study showed that effective advertising results from increased interaction and engagement, which translates into effective customer loyalty. The study recommended that banks concentrate on using new advertising media, and promotions should be increased. This will help increase loyalty for the brand in the long run and therefore boost loyalists for Nigerian brands.

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