[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/aid/journl/v6y2023i1p19-37.html
   My bibliography  Save this article

Sustainable Marketing Performance of Banks in the Digital Economy: The Role of Customer Relationship Management

Author

Listed:
  • Stephen Acheampong

    (Sumy State University, Sumy, Ukraine Ghana Baptist University College, Kumasi, Ghana)

  • Tetyana Pimonenko

    (WSB University in Dabrowa Gornicza, Poland; Sumy State University, Ukraine)

  • Oleksii Lyulyov

    (WSB University in Dabrowa Gornicza, Poland; Sumy State University, Ukraine)

Abstract
Customer relationship management (CRM) has become the lifeblood of banking and the principal driver of sustainable marketing performance in the digital economy. The discovery of computers and the Internet has transformed the industrial economy into digital through the integration of CRM and related elements, resulting in several benefits, including growth in research documents and increased collaborations. Marketers have developed a CRM system that integrates the digital infrastructure and digital capabilities of people to promote the sustainable marketing performance of banks through innovations such as customer acquisition, segmentation, customization, loyalty, and profitability. The paper aims to analyse the scientific landscape of CRM and sustainable marketing performance in the digital economy. The authors resorted to the Scopus database to extract 1485 documents and filtered 248 for Scopus analysis and to determine the roles of CRM. The filtered documents were then exported to VOSviewer for visualization mapping, including co-authorship and co-occurrence analysis. The visualization mapping depicts relationships among the keywords. The results of the research indicate an upwards growth in research publications since 2003, growing interest in funding and collaborations by countries and institutions, and the relationship among the keywords. The emerging financial crisis is a motivation for research in the area of study. The results also indicate that the integration of CRM into digital technology promotes collaborations and innovations resulting in the development of banking software applications to promote customer acquisition, retention, loyalty, profitability and sustainability. The study developed an integrated framework for sustainable banking performance. Global crises, including financial crises and COVID-19, have increased research output and become an integral part of CRM. Green banking is to be researched and integrated. The study will be used as a basis for further studies and for bankers for policy formulation.

Suggested Citation

  • Stephen Acheampong & Tetyana Pimonenko & Oleksii Lyulyov, 2023. "Sustainable Marketing Performance of Banks in the Digital Economy: The Role of Customer Relationship Management," Virtual Economics, The London Academy of Science and Business, vol. 6(1), pages 19-37, March.
    • Handle: RePEc:aid:journl:v:6:y:2023:i:1:p:19-37
    DOI: 10.34021/ve.2023.06.01(2)
    as

    Download full text from publisher

    File URL: https://virtual-economics.eu/index.php/VE/article/download/236/123
    Download Restriction: no
    File URL: https://libkey.io/10.34021/ve.2023.06.01(2)?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Yana Us & Tetyana Pimonenko & Oleksii Lyulyov & Yang Chen & Tatjana Tambovceva, 2022. "Promoting Green Brand of University in Social Media: Text Mining and Sentiment Analysis," Virtual Economics, The London Academy of Science and Business, vol. 5(1), pages 24-42, April.
    2. Donthu, Naveen & Kumar, Satish & Mukherjee, Debmalya & Pandey, Nitesh & Lim, Weng Marc, 2021. "How to conduct a bibliometric analysis: An overview and guidelines," Journal of Business Research, Elsevier, vol. 133(C), pages 285-296.
    3. Radoslaw Miskiewicz, 2022. "Clean and Affordable Energy within Sustainable Development Goals: The Role of Governance Digitalization," Energies, MDPI, vol. 15(24), pages 1-17, December.
    4. Yevheniia Ziabina & Tetyana Pimonenko, 2020. "The Green Deal Policy for Renewable Energy: A Bibliometric Analysis," Virtual Economics, The London Academy of Science and Business, vol. 3(4), pages 147-168, October.
    5. Rakesh Raut & Naoufel Cheikhrouhou & Manoj Kharat, 2017. "Sustainability in The Banking Industry: A Strategic Multi‐Criterion Analysis," Business Strategy and the Environment, Wiley Blackwell, vol. 26(4), pages 550-568, May.
    6. Nawal Abdalla Adam & Ghadah Alarifi, 2021. "Innovation practices for survival of small and medium enterprises (SMEs) in the COVID-19 times: the role of external support," Journal of Innovation and Entrepreneurship, Springer, vol. 10(1), pages 1-22, December.
    7. Cobo, M.J. & López-Herrera, A.G. & Herrera-Viedma, E. & Herrera, F., 2011. "An approach for detecting, quantifying, and visualizing the evolution of a research field: A practical application to the Fuzzy Sets Theory field," Journal of Informetrics, Elsevier, vol. 5(1), pages 146-166.
    8. Demyanyk, Yuliya & Hasan, Iftekhar, 2010. "Financial crises and bank failures: A review of prediction methods," Omega, Elsevier, vol. 38(5), pages 315-324, October.
    9. Radosław Miśkiewicz & Krzysztof Matan & Jakub Karnowski, 2022. "The Role of Crypto Trading in the Economy, Renewable Energy Consumption and Ecological Degradation," Energies, MDPI, vol. 15(10), pages 1-15, May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yunjie Wu & Peng Qian & Lei Yang & Zhuang Tian & Jieqiong Luo, 2024. "Analysis of the Impact of Urban Infrastructure on Urbanization Processes at Different Levels from a Spatiotemporal Perspective," Sustainability, MDPI, vol. 16(16), pages 1-20, August.
    2. Aleksy Kwilinski, 2024. "Mapping Global Research on Green Energy and Green Investment: A Comprehensive Bibliometric Study," Energies, MDPI, vol. 17(5), pages 1-24, February.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yucheng Zhang & Zhiling Wang & Lin Xiao & Lijun Wang & Pei Huang, 2023. "Discovering the evolution of online reviews: A bibliometric review," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-22, December.
    2. Gagan Deep Sharma & Sascha Kraus & Amogh Talan & Mrinalini Srivastava & Christina Theodoraki, 2024. "Navigating the storm: the SME way of tackling the pandemic crisis," Small Business Economics, Springer, vol. 63(1), pages 221-241, June.
    3. S. M. Shamsul Alam & Mohammad Abdul Matin Chowdhury & Dzuljastri Bin Abdul Razak, 2021. "Research evolution in banking performance: a bibliometric analysis," Future Business Journal, Springer, vol. 7(1), pages 1-19, December.
    4. Aleksy Kwilinski & Oleksii Lyulyov & Tetyana Pimonenko, 2023. "Inclusive Economic Growth: Relationship between Energy and Governance Efficiency," Energies, MDPI, vol. 16(6), pages 1-16, March.
    5. Yana Us & Tetyana Pimonenko & Oleksii Lyulyov, 2023. "Corporate Social Responsibility and Renewable Energy Development for the Green Brand within SDGs: A Meta-Analytic Review," Energies, MDPI, vol. 16(5), pages 1-18, February.
    6. Shome, Samik & Hassan, M. Kabir & Verma, Sushma & Panigrahi, Tushar Ranjan, 2023. "Impact investment for sustainable development: A bibliometric analysis," International Review of Economics & Finance, Elsevier, vol. 84(C), pages 770-800.
    7. Henryk Dzwigol & Aleksy Kwilinski & Oleksii Lyulyov & Tetyana Pimonenko, 2023. "The Role of Environmental Regulations, Renewable Energy, and Energy Efficiency in Finding the Path to Green Economic Growth," Energies, MDPI, vol. 16(7), pages 1-18, March.
    8. Andrés Martínez-Medina & Sonia Morales-Calvo & Vicenta Rodríguez-Martín & Víctor Meseguer-Sánchez & Valentín Molina-Moreno, 2022. "Sixteen Years since the Convention on the Rights of Persons with Disabilities: What Have We Learned since Then?," IJERPH, MDPI, vol. 19(18), pages 1-21, September.
    9. Cristina Mele & Jaqueline Pels & Maria Spano & Irene Bernardo, 2023. "Emergent understandings of the market," Italian Journal of Marketing, Springer, vol. 2023(1), pages 1-25, March.
    10. Yong Qin & Zeshui Xu & Xinxin Wang & Marinko Skare, 2024. "Artificial Intelligence and Economic Development: An Evolutionary Investigation and Systematic Review," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 1736-1770, March.
    11. Deepa Sharma & Suman Chakraborty & Ashwath Ananda Rao & Lumen Shawn Lobo, 2023. "The Relationship of Corporate Social Responsibility and Firm Performance: A Bibliometric Overview," SAGE Open, , vol. 13(1), pages 21582440231, March.
    12. Albiona Pestisha & Zoltán Gabnai & Aidana Chalgynbayeva & Péter Lengyel & Attila Bai, 2023. "On-Farm Renewable Energy Systems: A Systematic Review," Energies, MDPI, vol. 16(2), pages 1-25, January.
    13. Zamani, Mehdi & Yalcin, Haydar & Naeini, Ali Bonyadi & Zeba, Gordana & Daim, Tugrul U, 2022. "Developing metrics for emerging technologies: identification and assessment," Technological Forecasting and Social Change, Elsevier, vol. 176(C).
    14. Paul Handro & Bogdan Dima, 2024. "Analyzing Financial Markets Efficiency: Insights from a Bibliometric and Content Review," Journal of Financial Studies, Institute of Financial Studies, vol. 16(9), pages 119-175, May.
    15. Weisheng Chiu & Thomas Chun Man Fan & Sang-Back Nam & Ping-Hung Sun, 2021. "Knowledge Mapping and Sustainable Development of eSports Research: A Bibliometric and Visualized Analysis," Sustainability, MDPI, vol. 13(18), pages 1-17, September.
    16. Drago, Carlo & Errichiello, Luisa, 2024. "Remote Work admist the Covid-19 outbreak: Insights from an Ensemble Community-Based Keyword Network Analysis," FEEM Working Papers 341640, Fondazione Eni Enrico Mattei (FEEM).
    17. Pereira, Vijay & Bamel, Umesh & Paul, Happy & Varma, Arup, 2022. "Personality and safety behavior: An analysis of worldwide research on road and traffic safety leading to organizational and policy implications," Journal of Business Research, Elsevier, vol. 151(C), pages 185-196.
    18. Kumar, Satish & Sahoo, Saumyaranjan & Lim, Weng Marc & Kraus, Sascha & Bamel, Umesh, 2022. "Fuzzy-set qualitative comparative analysis (fsQCA) in business and management research: A contemporary overview," Technological Forecasting and Social Change, Elsevier, vol. 178(C).
    19. Douglas Mitieka & Rose Luke & Hossana Twinomurinzi & Joash Mageto, 2023. "Smart Mobility in Urban Areas: A Bibliometric Review and Research Agenda," Sustainability, MDPI, vol. 15(8), pages 1-23, April.
    20. Carlos Sánchez‐Camacho & Rocío Carranza & David Martín‐Consuegra & Estrella Díaz, 2022. "Evolution, trends and future research lines in corporate social responsibility and tourism: A bibliometric analysis and science mapping," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(3), pages 462-476, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aid:journl:v:6:y:2023:i:1:p:19-37. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Aleksy Kwilinski (email available below). General contact details of provider: https://edirc.repec.org/data/akwilin.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.