Value Perception as a Key Factor

Oct 13, 2025 by talynt.org 116 views

Introduction

Aceh, a province in Indonesia, has implemented full Islamic Sharia, which has led to the establishment of Islamic financial institutions that operate in accordance with Islamic principles. The Regional Regulation (Qanun) governing Islamic financial institutions in Aceh aims to ensure that the financial system in the province is in line with Islamic values. This study examines the strategy of increasing customer loyalty in Aceh Islamic banking using the perception of value as a measurement tool.

Background

Islamic banking in Aceh has grown significantly in recent years, with a large number of customers seeking financial services that are in accordance with Islamic principles. However, customer loyalty remains a significant challenge for Islamic banks in Aceh. Customer loyalty is crucial for Islamic banks as it can lead to increased customer retention, improved customer satisfaction, and ultimately, increased revenue. Therefore, understanding the factors that influence customer loyalty in Aceh Islamic banking is essential for Islamic banks to develop effective strategies to increase customer loyalty.

Methodology

This study involved 200 Islamic bank customers in 5 districts/cities in Aceh, chosen by the Purposive Sampling method. Data were analyzed using the SEM PLS method. The results showed that:

*** Customer Relationship Management (CRM) has a positive and significant influence on customer loyalty. *** Service quality has a negative and insignificant influence on customer loyalty. *** Value perception has a positive and significant influence on customer loyalty. *** CRM VALUE has a positive and significant influence on the perception of values. *** Service quality has a positive and significant influence on the perception of value.

Results

This study revealed that the perception of values acts as a partial mediator in the relationship between CRM and customer loyalty. Value perception also acts as a full mediator in the relationship between service quality and customer loyalty. This finding shows that the perception of value holds a key role in building customer loyalty in Aceh Islamic banking.

Deeper Analysis

Value Perception as a Key Factor

This research reiterates the importance of value perceptions in building customer loyalty, especially in the context of Islamic banking. Islamic bank customers not only look for financial services that are in accordance with the Shari'a, but also respect the values offered by banks, such as transparency, honesty, and commitment to Islamic principles.

Strategic Role of CRM

CRM is proven to have a positive influence on customer loyalty through increasing the perception of values. This shows that Islamic banks in Aceh need to focus on building strong relationships with customers through an effective CRM program. This program must be able to provide added value for customers and build trust.

Service Quality that needs to be considered

Although this research shows that service quality does not have a significant influence on customer loyalty, but this does not mean that service quality can be ignored. Improving service quality can have a positive impact on the perception of customer value and ultimately increase their loyalty.

The need for further research

This research has not yet considered other factors that can affect customer loyalty, such as customer experience and customer involvement. Further research is needed to comprehensively understand the factors that can increase customer loyalty in Aceh Islamic banking.

Conclusion

This study provides a deeper understanding of the strategy of increasing customer loyalty in Aceh Islamic banking. Value perception is a key factor that needs to be considered by Islamic banks in developing CRM strategies and improving service quality. With a focus on the value offered, Islamic banks in Aceh can build stronger relationships with customers and increase their loyalty.

Implications

This study has several implications for Islamic banks in Aceh. Firstly, Islamic banks need to focus on building strong relationships with customers through effective CRM programs. Secondly, Islamic banks need to improve their service quality to increase the perception of customer value. Finally, Islamic banks need to consider other factors that can affect customer loyalty, such as customer experience and customer involvement.

Limitations

This study has several limitations. Firstly, the sample size is relatively small, which may limit the generalizability of the findings. Secondly, the study only considered a limited number of factors that can affect customer loyalty. Further research is needed to comprehensively understand the factors that can increase customer loyalty in Aceh Islamic banking.

Future Research Directions

This study provides several directions for future research. Firstly, further research is needed to investigate the relationship between customer experience and customer loyalty in Aceh Islamic banking. Secondly, further research is needed to investigate the impact of customer involvement on customer loyalty in Aceh Islamic banking. Finally, further research is needed to investigate the effectiveness of CRM programs in increasing customer loyalty in Aceh Islamic banking.

References

[List of references cited in the study]

Appendix

[Appendix containing additional information, such as survey questions and data analysis results]

Q: What is the importance of customer loyalty in Aceh Islamic banking?

A: Customer loyalty is crucial for Islamic banks in Aceh as it can lead to increased customer retention, improved customer satisfaction, and ultimately, increased revenue. Islamic banks in Aceh need to focus on building strong relationships with customers to increase customer loyalty.

Q: What are the key factors that influence customer loyalty in Aceh Islamic banking?

A: The key factors that influence customer loyalty in Aceh Islamic banking are:

Customer Relationship Management (CRM): CRM has a positive and significant influence on customer loyalty.
Value perception: Value perception has a positive and significant influence on customer loyalty.
Service quality: Service quality has a positive and significant influence on the perception of value.

Q: What is the role of CRM in increasing customer loyalty in Aceh Islamic banking?

A: CRM is proven to have a positive influence on customer loyalty through increasing the perception of values. Islamic banks in Aceh need to focus on building strong relationships with customers through an effective CRM program.

Q: What is the impact of service quality on customer loyalty in Aceh Islamic banking?

A: Although service quality does not have a significant influence on customer loyalty, improving service quality can have a positive impact on the perception of customer value and ultimately increase their loyalty.

Q: What are the limitations of this study?

A: The limitations of this study are:

Small sample size: The sample size is relatively small, which may limit the generalizability of the findings.
Limited factors considered: The study only considered a limited number of factors that can affect customer loyalty.

Q: What are the future research directions?

A: The future research directions are:

Investigating the relationship between customer experience and customer loyalty: Further research is needed to investigate the relationship between customer experience and customer loyalty in Aceh Islamic banking.
Investigating the impact of customer involvement on customer loyalty: Further research is needed to investigate the impact of customer involvement on customer loyalty in Aceh Islamic banking.
Investigating the effectiveness of CRM programs: Further research is needed to investigate the effectiveness of CRM programs in increasing customer loyalty in Aceh Islamic banking.

Q: What are the implications of this study for Islamic banks in Aceh?

A: The implications of this study for Islamic banks in Aceh are:

Focus on CRM: Islamic banks in Aceh need to focus on building strong relationships with customers through effective CRM programs.
Improve service quality: Islamic banks in Aceh need to improve their service quality to increase the perception of customer value.
Consider other factors: Islamic banks in Aceh need to consider other factors that can affect customer loyalty, such as customer experience and customer involvement.

Q: What are the recommendations for Islamic banks in Aceh?

A: The recommendations for Islamic banks in Aceh are:

Develop effective CRM programs: Islamic banks in Aceh need to develop effective CRM programs to build strong relationships with customers.
Improve service quality: Islamic banks in Aceh need to improve their service quality to increase the perception of customer value.
Consider customer experience and customer involvement: Islamic banks in Aceh need to consider customer experience and customer involvement in their customer loyalty strategies.