The importance of value and context for mobile CRM services in banking

Abstract

Purpose – The aim of the paper is to identify interactions existing among the identified factors and understanding how they impact adoption intention so that better CRM strategies for mobile channel can be orchestrated. Design/methodology/approach – The paper empirically explores the underlying factors by the application of confirmatory factor analysis and structural equation modeling. The study sample consists of 523 respondents with a response rate of 63.9 percent (usable response rate). Findings – The empirical findings reveal that from the perspective of benefits, perceptions value, perceived usefulness and context were the three critical components significantly influencing adoption intention. On the apprehension side, the effects of perceived security assurance, perceived trust, perceived cost and perceived risk on perceived value as well as perceived usefulness were significant. Research limitations/implications – The study had a few limitations such as selection of the sample from a limited number of places, and the model was cross-sectional measuring perceptions and intentions at a single point of time. Practical implications – Based on the findings, banks should focus on increasing the value perceptions of the customers by considering the perceptions of usefulness in various service contexts. The structural assurances and risk mitigation strategies also need attention. Originality/value – The findings provided insight into the factors that contribute to the acceptance of mobile CRM services in India from new consumers' perspective. This study demonstrated that in the case of mobile CRM, the factors related to service aspect dominate over the technical aspect.