Academy of Accounting and Financial Studies Journal (Print ISSN: 1096-3685; Online ISSN: 1528-2635)

Abstract

The Role of Strategies for Promoting Relations between Banks and Customers, and Their Impact on Customer Retention and the Market Share of Jordanian Commercial Banks

Author(s): Ahmad Y. Areiqat, Nihayah J. Mahrakani, Ahmad M. Zamil, Ayman Abu-Rumman

This research paper aims to discuss the role of the strategies for promoting the relations between banks and their clients and the appropriate means of customer retention besides highlighting the banks’ market share from the perspective of the Jordanian commercial banks’ customers. Its main purpose is to identify the degree of the commercial Jordanian banks’ utilization and maintaining benefits from these ties through marketing activities and customers’ retention strategies in order to enhance their market share. The population of the study consisted of a sample including selected clients from the Jordanian commercial banks (Five clients from every bank). The results revealed that the most active banks that achieved noticeable progress in promoting their ties with their clients were the Arab Bank and the Housing Bank. The study recommended that the Jordanian banks have to give a serious attention to the means and activities which are required to develop such relations because of their significant role in achieving customer retention and improving the banks’ market share.