The Effectiveness of Customer Loyalty Strategies in the Spanish Banking Sector
Carlos del Castillo-Peces, Carmelo Mercado-Idoeta, Camilo Prado-Román

Abstract
The present study sets out to analyze the implementation and effectiveness attached to customer loyalty strategies in the Spanish banking sector. Results of a survey completed by fifty-three Spanish financial institutions show that the implementation of customer loyalty strategies is widespread, with the exception of “scientific marketing” and “customer relationship management (CRM) tools”, whose use is high but not widespread. Regarding the effectiveness of these strategies, are precisely those tools “scientific marketing” and “CRM”, which suggest a greater positive effect on customer loyalty.

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