Cross-industry alliance marketing: Banks' collaboration with e-commerce platforms to create value for customers
Annotatsiya
Digital ecosystems in financial services are increasingly interconnected and offer new avenues of value creation in customer relationship management. The aim of this study was to evaluate the synergy of and cooperation models with cross-industry partners. Analysis of the strengths–weaknesses–opportunities–threats (SWOT) and survival probability using parametric survival modelling methodology identified four core strategic dimensions’ alignment with competitive advantage: (a) customer acquisition efficiency; (b) data-driven personalization; (c) risk-sharing frameworks; and (d) innovation and revenue diversification. We have used different statistical diagnostics to test the robustness of model parameters and also use of Akaike and Bayesian criteria to validate the fit among the variables such as duration of partnerships, market performance, customer retention, and profitability. The results showed positive effects on the longevity of bank–platform alliances, as a result of collaborative marketing fostering better customer engagement and brand loyalty in their digital ecosystems (95% CI – parametric estimates), banks collaborating with e-commerce firms have longer duration of partnerships, higher conversion rates, and greater stability of returns than institutions without such alliances; this is consistent across multiple segments of customers. Banks with e-commerce alliances have longer customer lifetimes, higher revenue retention, and greater share of digital transactions than banks without such collaborations; by developing frameworks focused on shared customer value and making mechanisms for using data more transparent, loyalty may be enhanced and long-term and mutual benefits may be sustained. This research highlights the importance of these cross- industry alliances as a mechanism of co-creating value around innovation and trust, and it analyzes survival trajectories and the dynamics of adaptation within the bank–platform ecosystem.